PGIM Real Estate

We're excited to announce that PGIM Real Estate and Elanor Investors Group have jointly acquired a 19-hectare last mile logistics development site at Mulgrave, Melbourne. This marks one of Australia’s largest industrial property transactions this year, where there is significant demand from wholesale and institutional investors. Learn more: https://lnkd.in/edEhFxcn

After a low investment cycle, many buildings are in need of fresh capital injections due to capex shortfalls, especially as ESG requirements are growing too. Learn how this creates tactical opportunities for investors:  https://lnkd.in/eHxjyRyp #GlobalOutlook

PGIM Real Estate has provided €91.5 million in financing to a joint venture between Hines and APG Financial for a 431-unit build-to-rent (BTR) scheme in Dublin. Discover how we're working with Hines and APG to help shape Cherrywood Town Center as a model for sustainable communities in Dublin. https://lnkd.in/exDuEGtz

In the last cycle, the expansion of jobs helped support economic growth. With technology gains, like #AI, the future growth model in developed economies depends more on #productivity. Learn how this shift impacts city rental dynamics: https://lnkd.in/eHxjyRyp

The ULI Washington Women's Leadership Initiative invites all audiences to the third and final session of our 3-part series hosted in partnership with CREW DC and AAREP DC. Demystifying the World of Valuations - Negotiating Equity and Debt will cover the utility of appraisal reports and valuations in negotiating capital among a broad and diverse audience and reveal how inequities in the market affect final outcomes. In a conversation moderated by Carisa Stanley Beatty panelists Stephanie Wiggins, Lynda Gallagher, and David Iannucci will discuss how inequities limit access to tools and best practices used to ensure the right values are requested, impede understanding of the report itself, and hinder the subsequent negotiations that lead to the best financing terms. This discussion will illuminate the “how” and “why” values matter in the realm of capital markets. The panel discussion will be followed by a networking happy hour on site to mingle with other attendees and discuss the lessons learned from all three sessions. Register today to save your seat: https://lnkd.in/e5gx6CrG This event is open to those who have and have not attended previous sessions.   *Members of CREW DC and AAREP DC qualify for ULI member pricing for this event. Email heather.hrycyshyn@uli.org for more information. #ULIWashington #Valuations #Equity #AppraisalsSeries #DCRealEstateProfessionals

Great to be back home in Frankfurt with the ongoing European Championship after a one-week roadshow in Kuala Lumpur, Tokyo and Seoul. I was excited to hear about our investors' keen interest in global markets, reinforcing PGIM Real Estate's global perspective in today's interconnected world. In essence, we believe opportunities in equity or debt strategies are very attractive in current conditions, including value decline combined with illiquidity, accretive leverage and rental growth. Here are my thoughts on how Europe represents the most compelling investment opportunity globally:   - Market illiquidity: We are witnessing a funding gap on the debt side, as well as a lack of liquidity in the European core and core-plus market. Providing many opportunities to purchase or recapitalize assets well below valuations, which have already decreased by 20% on average. - Accretive Leverage: Although limited and only available for the high-growth asset classes leverage has become more accretive as prime yields move out toward 5%, which is not the case for a lot of the major global real estate markets. - Structurally low supply: European major markets have been undersupplied or under-invested in cap ex since the GFC and we see no signs of a structural change going forward. This means that although our economy might show slow growth, there will be pockets of strong rental growth in certain markets and asset classes. It is all about deal, market and strategy selection.   Read more about our perspectives in Global Outlook: https://lnkd.in/ezFAWtMZ   *For Professional Investors only

Within the alternatives' universe, what is private real estate? PGIM Private Alternatives President & CEO Eric Adler breaks down the opportunities in living sectors, industrial, office and retail properties. https://lnkd.in/enUhNvib

In this PERE Credit article, Bryan McDonnell discusses John Jacobs’ upcoming promotion to lead PGIM Real Estate’s $6.4 billion enhanced income debt strategy, and the team’s intentions to pursue mezzanine lending opportunities in this market environment. https://lnkd.in/eusr882p

Why do we believe NOW is the right time to invest in value-add real estate assets? Hear from Sebastiano Ferrante as he highlights our recent acquisition of four open-air hospitality sites in Tuscany and Veneto – two of Italy’s leading tourism destinations. https://lnkd.in/e2f58WUb

Let's extend our congratulations to Sean Burke on receiving Elon University's 2024 Top 10 Under 10 Alumni Awards. Thanks to Elon's emphasis on global citizenship, Sean is inspired to work in a career that has a positive impact on communities around him. We're proud to have him at PGIM Real Estate, where he has assisted with the structuring of more than $2.7 billion in debt financing transactions. He is also an active volunteer of various organizations, including Urban Land Institute and Entryway. Congrats Sean! Elon celebrates 2024 Top 10 Under 10 Alumni at awards ceremony. https://lnkd.in/esJGMzYP