PGIM Real Estate Germany AG
Pramerica’s European funds complete EUR1.8 billion of transactions during 2011 – Over EUR1 billion of equity capital raised during the year
Pramerica Real Estate International AG / Key word(s): Finance/ 15.02.2012 / 09:00 --------------------------------------------------------------------- Pramerica Real Estate Investors' European funds completed EUR1.8 billion of transactions during 2011, the company announced today, comprising approximately EUR1.3 billion of acquisitions or commitments to acquire and EUR0.5 billion of disposals, in an active year for Pramerica's investments in the region. Pramerica is the European arm of the real estate investment and management business of Prudential Financial, Inc. (NYSE:PRU), which is headquartered in the United States. During the year, Pramerica also raised more than EUR1 billion of new equity capital for its European funds, underlining its ability to create attractive investment strategies in response to investor feedback and demand, and the confidence that institutions have in its ability to successfully execute these strategies in the market. As a result of its fundraising activities, Pramerica has investment capacity for European real estate assets through its existing funds, while additional new strategies are currently being developed, which are expected to continue to attract further investment. 'Despite much of the uncertainty in the market and the region, we had some real bright spots in 2011,' said Eric Adler, Head of Pramerica Europe. 'As we move into 2012, we are continuing to evaluate interesting strategies [and joint investment opportunities] that make sense for our investors and build on the expertise our team have in such areas as real estate finance and debt, residential development, ground leases and other core and value added opportunities.' About Pramerica Real Estate Investors Pramerica Real Estate Investors is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America. Headquartered in Parsippany, N.J., the company also has offices in Atlanta, Chicago, Miami, New York, San Francisco, Lisbon, London, Luxembourg, Madrid, Munich, Paris, Abu Dhabi, Istanbul, Mexico City, Rio de Janeiro, Sao Paulo, Beijing, Hong Kong, Seoul, Singapore, and Tokyo. In addition, the company has representatives in Milan and is establishing a presence in Sydney, pending regulatory approval. As of September 30, 2011, the company managed approximately US$48.6 billion in gross real estate assets ($30.3 billion net) on behalf of more than 490 clients worldwide. For more information, visit http://www.pramericarei.com. About Pramerica Pramerica Financial is a trade name used by Prudential Financial, Inc., a company incorporated and with its principal place of business in the United States, and its affiliates in select countries outside the United States. PFI (NYSE: PRU), a financial services leader with approximately $901 billion of assets under management as of December 31, 2011, has operations in the United States, Asia, Europe, and Latin America. PFI's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., the company's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/ . PFI of the United States is not affiliated in any manner with Prudential plc, a company incorporated in the United Kingdom. End of Media Release --------------------------------------------------------------------- 15.02.2012 Dissemination of a Press Release, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 156721 15.02.2012
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