PGIM’s real estate investment management business has launched its first Australian real estate debt strategy.
The asset manager has completed the first close of the strategy with approximately $300 million and confirmed advanced commitments from several institutional investors which should see it exceed $600 million in the upcoming months.
It is on track to achieve its $750 million target from investors, the firm reported, though a specific time frame was not stated.
The fund, which is PGIM Real Estate’s first co-mingled Australian real estate debt strategy, seeks to offer strong…
