PGIM Real Estate invests in three office properties in Europe
These acquisitions demonstrate a wider theme at play across the strategy’s office portfolio.
PGIM Real Estate has completed the acquisition of three centrally located office properties in Amsterdam, Paris and London, on behalf of its European core strategy. PGIM Real Estate is the $209.3 billion real estate business of PGIM.
With these acquisitions, PGIM Real Estate’s European core strategy increases its exposure to European office by continuing to allocate strategically to ‘winning cities’ which are experiencing steady population growth and increasing affluence, attracting capital and skilled workforces.
Moreover, these acquisitions demonstrate a wider theme at play across the strategy’s office portfolio of targeting rapidly developing ‘live-work-play’ submarkets that have demonstrated sustained rental growth.
Typically these submarkets attract young professionals looking for vibrant communities, often present within the city tech clusters.