PGIM Real Estate raises $134m

The real estate investment firm attracts German investors to sixth US-focused fund.

PGIM Real Estate‘s US Property Fund VI has held a first close at $134 million. A final close is expected in mid-2018. USPF VI invests in primary and secondary markets in the US within the residential, retail, office, logistics and self-storage sectors.

The firm’s sixth US-focused real estate fund has been backed by new and existing German investors, among others.

US Property Fund V held a final close at $430 million in July 2013.