PGIM markets next senior housing fund

PGIM Real Estate, the real estate investment business of PGIM, is marketing its next senior housing fund, Senior Housing Partnership Fund VI, according to board meeting documents from the Pennsylvania State Employees’ Retirement System (Penn SERS). PGIM did not comment on its fundraising efforts.

Penn SERS has already committed $100 million to the fund in order to “focus on private pay independent living and assisted living facilities within the senior housing industry.” The fund will invest in independent living, assisted living and memory care properties. The predecessor fund in the senior housing series, Prudential Senior Housing Partnership Fund V, raised $629 million in 2015.

PGIM has experience in all major real estate types, namely office, retail, residential and industrial properties, as well as emerging asset classes such as senior housing and self-storage. Its in