Stephen O’Keeffe has joined PGIM Real Estate as an executive director, responsible for sourcing real estate debt investments and managing relationships with prospective borrowers and partners in Australia. PGIM Real Estate is the real estate investment business of PGIM, the global investment management businesses of Prudential Financial.
PGIM Real Estate was recently awarded a new $320 million mandate to build and manage a portfolio of whole loans and mezzanine real estate debt investments in Australia on behalf of an institutional investor. The discretionary strategy will target loans of between $11 million to $57 million, investing in a variety of real estate sectors and across the risk spectrum, including a blend of income-producing, value-add and construction loans.
Before joining PGIM Real Estate, O’Keeffe was a senior director in the debt and structured finance team at CBRE, where he arranged, structured and closed approximately $765 million in new debt origination and was responsible for the asset management and servicing of CBRE’s $1.38 billion in client loans. Previously, he was a fund manager at Quadrant Real Estate Advisors, and held fund management roles at Mirvac Funds Management.
Since 2009, PGIM Real Estate has invested more than $7 billion across approximately 120 higher-yielding private real estate debt investments globally. In Australia, PGIM Real Estate has completed almost $765 million of transactions, including five high-yield real estate debt investments totaling more than $168 million on behalf of investors in its equity funds since establishing a dedicated presence in Sydney in 2011.
PGIM Real Estate has had a presence in Asia Pacific since 1994 and assets under management in the region totaled $7.3 billion as of March 31, 2018.
