PGIM Real Estate has acquired a portfolio consisting of three residential properties in Germany, on behalf of its European core strategy, which now exceeds €1 billion ($1.19 billion) of equity capital. PGIM Real Estate is the real estate investment business of PGIM, the $1.5 trillion global investment management business of Prudential Financial.
In less than two years since launch, the European core strategy has gathered more than €1 billion ($1.19 billion) in equity capital, with core investments in the logistics, residential and office sectors in Europe’s major metropolitan markets. The strategy joined the INREV ODCE index in 2020.
The latest acquisition is a total of 285 residential units in the districts of Wettbergen and Bemerode in Hanover, Germany. The portfolio consists of three high-quality low-rise buildings and a total leasable area of 18,622 square meters (200,446 square feet). Large urban areas, such as Hanover, have seen relatively strong population
