PGIM hires new executive director and portfolio manager

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.

In support of its impact-oriented initiatives, PGIM Real Estate is collaborating with PFI’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 COO and head of the United States.

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.

In additional news, PGIM Real Estate recently announced key Americas leadership roles for Cathy Marcus and Alfonso Munk following the planned retirement of Kevin Smith. Smith, most recently head of Americas at PGIM Real Estate, will retire in March 2018 after 36 years at the company. Marcus has been named head of the U.S. business, in addition to her role as global COO. Munk will continue in his role as Americas CIO and will also serve as head of Latin America.