NEW YORK, Jan. 25, 2018 – Lisa Davis has joined PGIM Real Estate as an executive director and portfolio manager to lead its impact-oriented real estate investment initiatives focused on affordable housing and transformative developments in the United States. PGIM Real Estate is the real estate investment business of PGIM, the $1 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
In support of its impact-oriented initiatives, PGIM Real Estate is collaborating with Prudential’s Impact Investments group to leverage the company’s full breadth of impact investment expertise and industry relationships to help identify investment opportunities.
Focusing on major U.S. markets with anticipated population and economic growth, PGIM Real Estate will target opportunities in transformative development in emerging, underpriced locations. It will also pursue affordable housing, which has very high demand and low supply across the market cycle.
“We are thrilled to add someone with Lisa’s depth of commercial real estate investment and development experience, with unique expertise in improving housing and economic conditions in low-income communities,” said Cathy Marcus, PGIM Real Estate’s global chief operating officer and head of the United States. “Bolstering our impact investment capability underscores our long?standing commitment to responsible investing, and by partnering with Prudential’s Impact Investments group, we will deliver an investment opportunity to our clients that is closely aligned with the socially responsible investment heritage of both PGIM Real Estate and our parent company.”
Throughout her career, Davis has focused on improving housing and economic conditions in low-income communities. Prior to PGIM Real Estate, she gained extensive experience executing large-scale affordable housing and redevelopment projects for both for-profits and nonprofits. Previously, Davis led affordable housing and community development finance strategies at the Ford Foundation and helped establish Ford’s impact investing program.
Davis has a master of science in real estate development and a master of city planning from the Massachusetts Institute of Technology where she was a Harry S. Truman Scholar. She has a bachelor’s degree from the University of Texas at Austin. Davis sits on the Board of Directors for the Brooklyn Navy Yard and IMPACCT Brooklyn, and is a member of the Affordable and Multifamily Housing Council of the Urban Land Institute.
Based in New York, Davis will report to Soultana Reigle, managing director and senior portfolio manager at PGIM Real Estate.
PGIM Real Estate and Prudential have a history of investing with an impact orientation. PGIM Real Estate has a track record in transformative development through its U.S. value-add platform, and affordable housing across its U.S. funds through inclusionary housing and apartment portfolio acquisitions that have affordable rents. In addition, PGIM Real Estate’s sustainability program, launched in 2008, has increased operational efficiencies and cost savings at the properties within its portfolios, and increased the proportion of its assets under management evaluated by industry benchmarks, such as the Global Real Estate Sustainability Benchmark.
Prudential’s Impact Investments group has invested more than $2 billion in impact-oriented assets since its founding more than 40 years ago. It currently has more than $715 million in assets under management with a goal of reaching $1 billion by 2020 and has investments in a variety of asset classes including private debt and equity, mortgages, tax credits, REITS and structured products.
About PGIM Real Estate
PGIM Real Estate is the real estate investment business of PGIM, the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU). Redefining the real estate investing landscape since 1970, PGIM Real Estate has professionals in 18 cities in the Americas, Europe and Asia Pacific with deep local knowledge and expertise, and gross assets under management of $69.0 billion ($50.5 billion net) as of Sept. 30, 2017. PGIM Real Estate’s tenured team offers to its global client base a broad range of real estate equity, debt and securities investment strategies that span the risk/return spectrum. For more information, visit pgimrealestate.com.
With 14 consecutive years of positive third-party institutional net flows, PGIM, the global asset management businesses of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world with more than $1 trillion in assets under management as of Sept. 30, 2017. PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents.
Prudential’s additional businesses offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about PGIM, please visit pgim.com. For more information about Prudential, please visit news.prudential.com.
© 2018 PGIM is the primary asset management business of Prudential Financial, Inc. (PFI). PGIM Real Estate is PGIM’s real estate investment advisory business and operates through PGIM, Inc., a registered investment advisor. Prudential, PGIM, their respective logos as well as the Rock symbol are service marks of PFI and its related entities, registered in many jurisdictions worldwide. PFI of the United States is not affiliated with Prudential plc, a company headquartered in the United Kingdom. Ref: 18BDUFF-AV3SAN