Pramerica's European real estate funds carried out EUR 1.3 bn of acquisitions and EUR 500 mln of sales during 2011. Pramerica is the European arm of the real estate investment and management business of New York-listed Prudential Financial.
Pramerica's European real estate funds carried out EUR 1.3 bn of acquisitions and EUR 500 mln of sales during 2011. Pramerica is the European arm of the real estate investment and management business of New York-listed Prudential Financial.
During the year, Pramerica also raised more than EUR 1 bn of new equity capital for its existing European funds and is working on new strategies.
'Despite much of the uncertainty in the market and the region, we had some real bright spots in 2011,' said Eric Adler, head of Pramerica Europe. 'As we move into 2012, we are continuing to evaluate interesting strategies [and joint investment opportunities] that make sense for our investors and build on the expertise our team have in such areas as real estate finance and debt, residential development, ground leases and other core and value added opportunities.'
