PGIM Real Estate Acquires 30-Property US Industrial Portfolio

On behalf of its U.S. core real estate strategy, PGIM Real Estate has acquired a 30-property industrial portfolio totaling 5.4 million square feet in partnership with Perlmutter Investment Company’s IAC Properties. PGIM Real Estate acquired the portfolio valued at approximately $700 million by recapitalizing an interest in the existing joint venture structure. PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.4 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).