How PGIM Has Been Adjusting its Investment Strategy
A “downturn” may not be the right word when it comes to CRE, says PGIM Real Estate’s Todd Goldberg. A “bifurcation of the market” might be more accurate.
September 21, 2020 | Sebastian Obando | National Real Estate Investor
The COVID-19 pandemic has not only supported the continued rise of e-commerce and demographic shifts in the multifamily sector, but significantly accelerated those trends. Investors with significant holdings in the commercial real estate sector have taken notice.
For example, PGIM Real Estate recently announced its latest acquisition of a 4.7-million-sq.-ft., 15-building industrial portfolio from Crow Holdings located across Atlanta, Dallas, Fort Worth, Texas and Phoenix for a total value of $425 million. In addition to investments in the industrial sector, the company also sees opportunities for acquisitions of multifamily, storage and data center properties.
NREI spoke with Todd Goldberg, managing director at PGIM Real Estate, to discuss how the pandemic has changed the firm’s investment strategy and what to expect from the investment market going forward.
