RIVERSIDE, Calif., May 14, 2020 – PGIM Real Estate has arranged $66 million in acquisition financing for 6275 Lance Drive, a 1-million-square-foot industrial facility located in Riverside, California, within the Inland Empire submarket. The fixed-rate loan was arranged on behalf of the borrower, for which TA Realty provides investment advisory services, and has an eight-year term. PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.3 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
The real estate businesses of PGIM completed over $35 billion in transactions worldwide in 2019. The volume represents a total of 954 transactions and includes $14.8 billion in real estate equity investments and dispositions on behalf of third-party investors, in addition to a record $20.5 billion in real estate financing.
MADISON, N.J., Feb. 24, 2020 – PGIM Real Estate has completed its capital raise for Senior Housing Partners VI (SHP VI), with a total of $996 million in commitments, primarily from institutional investors. PGIM Real Estate is the real estate investment business of PGIM, the $1.3 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
CHICAGO, Dec. 11, 2019 – Bridge Development Partners LLC and PGIM Real Estate, the global real estate investment management business of Prudential Financial, Inc., have announced the launch of a $150 million national cold storage investment program, targeting $400 million in assets. This programmatic joint venture will seek value-add returns through the development of Class A cold storage facilities, as well as the acquisition and repositioning of Class A/Class B cold storage developments across the country.
NEW YORK, July 24, 2019 – PGIM has provided over $1.7 billion in core plus financing on behalf of institutional investors since launching its U.S. core plus lending strategy in late 2017. PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), has more than $1 trillion in assets under management and is a top-10 global money manager.
PGIM Real Estate completed approximately $12 billion in transactions worldwide in 2018 on behalf of institutional and high net worth investors, including investments in real estate equity and debt, and property dispositions.