Prudential’s real estate investment activities began in 1878 with a mortgage operation designed to provide investment returns to meet the liabilities of its insurance customers. The operation expanded to include equity ownership of real property and became one of America’s largest development firms.

PREI and its predecessor organizations have been managing real estate investments on behalf of third-party investors since 1970. Prudential was one of the first firms to widely offer the benefits of real estate investing to pension plans with the introduction of the industry's first commingled, open-end equity real estate fund, which continues as one of the leading funds of its kind today.

PREI has more than 38 years of experience managing assets for a core portfolio. PREI has also gained a reputation as a value-added investor, most notably through the success of its second flagship portfolio, which was introduced in 1980. Continuing to expand the level of opportunities available to our clients, PREI introduced its real estate Merchant Banking operations in early 1999.

In addition to expanding our operations within the U.S. to include additional value-added and higher returning strategies, PREI began to develop its global platform by establishing operations in Europe and Asia in the early to mid 1990’s and in Latin America in 2000. On December 31, 2002, PREI acquired TMW Immobilien AG in Munich, Germany, and TMW Real Estate Group in Atlanta. Joining forces enables PREI to increase the breadth and depth of its product line, reinforce its commitment to offering real estate investment opportunities to clients through a variety of sources and better serve customers.

Organizationally, PREI is a business unit of Prudential Investment Management, Inc., which is an indirect wholly-owned subsidiary of Prudential Financial, Inc.