PGIM Real Estate acquires two residential buildings in Paris for its European core strategy

PGIM Real Estate has acquired a residential portfolio of two properties, located in the 16th arrondissement of Paris, on behalf of its European core strategy. PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.5 trillion global investment management business of U.S.-based Prudential Financial.

The two residential buildings in the portfolio are located in the heart of the 16th arrondissement, in one of the most established residential markets in Paris, close to the Arc de Triomphe, avenue Victor Hugo and rue le Sueur.

The first asset, called Le Sueur, is located nearby Avenue Foch and offers 5,300 square meters (57,000 square feet) of floor space in 47 apartments. Built in the 1930s, this Art Deco–style property contains luxury flats, numerous terraces and stunning views. The second asset, a typically Haussmann-style building named Victor Hugo, has a total surface area of 1,700 square meters (18,300 square feet), including six high-e