PREI, AP3 form JV to invest in German retail properties Prudential Real Estate Investors and the Third Swedish National Pension Fund, AP3, announced that they have formed a joint venture to invest in retail properties throughout Germany. The joint venture has acquired a first portfolio and agreed to acquire a second portfolio of grocery-anchored retail properties from funds managed by Taurus Investment Holdings, which remains a minority partner in both transactions. PREI is the real estate investment and advisory business of Prudential Financial.The joint venture is acquiring controlling stakes of the properties in two separate transactions totaling EUR265M, or a little more than $361M. The first transaction closed in April and the second is expected to close in the second quarter, with Taurus remaining a minority investor in both instances.
News For PRU From The Last 14 Days
Check below for free stories on PRU the last two weeks.