Recently rebranded PGIM Real Estate has held a €580 million final close on its third Asia-focused value-added fund.
The firm will use capital from the fund to invest in Asia Pacific real estate, including office, retail, residential and logistics, in both mature and emerging markets. Target markets are Australia, China, Japan, Malaysia, Singapore, Hong Kong and South Korea.
The real estate investment management business of Pramerica Financial, formerly known as Pramerica Real Estate Investors (PREI), has already started deploying capital on behalf of Asia Property Fund III on four transactions.
The firm provided subordinated debt to assist the funding of a multi-stage development at Wentworth Point, Sydney, Australia; acquired two grade-A office properties at Waterfront Place, Shanghai, China; and purchased Abercrombie & Fitch Company's flagship store in Tokyo, Japan.
PGIM RE also established a joint venture with a Malaysian developer to develop a high-rise residential project, Puchong Kinrara Development, in Kuala Lumpur, Malaysia.
“These four transactions demonstrate the depth of our market reach in Asia Pacific, and we will continue to seek compelling opportunities throughout the region to invest across the risk spectrum on behalf of our clients,” commented Benett Theseira, managing director and head of Asia Pacific for PGIM Real Estate.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: 
