Low interest rates, investors’ ongoing search for yield, and strong acquisitions activity continue to create a supportive environment for real estate financing and alternative lenders across the globe, contributing to a record $22.38 billion in worldwide originations last year for PGIM Real Estate, the real estate investment and financing business of PGIM, the $1.4 trillion global investment management business of U.S.-based Prudential Financial, Inc. (NYSE: PRU).
The nearly 15% rise in financing over the prior year was driven by PGIM Real Estate’s growth in bridge lending and preferred equity, which has been supported by strong market dynamics in the global residential and logistics sectors. PGIM Real Estate closed over $2.9 billion in lending activity on behalf of its core-plus and value-add lending strategies as well as a record $2.8 billion in agricultural loans. PGIM Real Estate was also very active with over $9.2 billion in stabilized, core lending across the U.S., Europe and Asia Pacific and posted a strong year on behalf of the U.S. Agencies and FHA with over $7.3 billion of financing.
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