PGIM Real Estate tops $12 billion in 2016 global transactions

PGIM

PGIM Real Estate completed more than $12 billion in transactions worldwide on behalf of investors in 2016, including about $8 billion in the U.S., the company announced.

PGIM Real Estate is the real estate investment business of PGIM, the trillion-dollar global investment management business of Prudential Financial, Inc. (NYSE: PRU).

“During a year marked by market volatility and political uncertainty, PGIM Real Estate’s transactions in 2016 reflect our ability to successfully identify cyclical momentum and growth potential in the short term, and invest into longer-term structural trends that offer attractive pricing opportunities around the world,” said Eric Adler, Chief Executive Officer of PGIM Real Estate.

“Despite continued market uncertainty, the economic backdrop for real estate investment remains largely supportive,” Adler continued.

“As markets and geopolitical events evolve, we will employ our disciplined investment approach to capitalize on income-driven core opportunities in major markets alongside targeting value-add strategies, alternative real estate sectors and select emerging markets. We will also continue to selectively sell stabilized, non-strategic properties.”

The more than $12 billion across 220 transactions in 2016 spanned the Americas, Europe, and Asia Pacific regions, including investments in real estate equity and debt and property dispositions. The U.S. and Europe accounted for most of the activity.

Overall, highlights include:

-More than $8 billion through 120 U.S. transactions

-Approximately $2.5 billion through 70 Europe transactions

-More than $400 million of Latin America transactions, primarily in Mexico

-Approximately $1 billion of Asia Pacific transactions, primarily in Japan, China, South Korea and Malaysia

– More than $700 million invested through debt strategies, primarily across the U.K., Germany and the U.S.

Source: PGIM

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