At a time when new construction is cranking up again, Prudential Real Estate Investors (PREI) provides one prime example of a major equity partner for the apartment industry. One of PREI's funds, PRISA has interests in three new apartment developments, and signs indicate that there are plenty more to come this year for this and other PREI funds. As portfolio manager of PREI's PRISA fund, Cathy Marcus is responsible for determining the strategy for the core-investment fund, making investment decisions and overseeing the day-to-day operations. PRISA is PREI's open-ended core fund, which invests in top-of-the-class and lowest-risk real estate. Expected yields for PRISA are 7.5 percent to 9.5 percent over the full market cycle. With 280 global investors, PRISA has gross assets of $12 billion, and about 25 percent of that is allocated to the apartment sector.
展开▼
