PREI® hires Frank Garcia as managing director, portfolio manager for US core
real estate strategy
MADISON, N.J. -- August 20, 2013
Prudential Real Estate Investors has named Frank Garcia a managing director
and portfolio manager for its core open-ended equity commingled real estate
strategy— among the oldest and the largest such strategies in the U.S. PREI®
is the real estate investment management and advisory business of Prudential
Financial, Inc. (NYSE: PRU).
Garcia is the fourth portfolio manager on the team. He reports to Senior
Portfolio Manager Cathy Marcus, as does managing director and portfolio
manager Joanna Mulford. Garcia is based in PREI’s San Francisco office along
with assistant portfolio manager Nicole Stagnaro, vice president. He joins in
a newly created role to meet the increasingly complex management needs of the
U.S. core strategy as it expands to reach clients around the world.
“Adding someone with Frank’s extensive real estate experience further
strengthens our core portfolio management team,” Marcus said. “The breadth of
his background will be particularly helpful as we seek opportunities to invest
on behalf of a growing client base.”
PREI’s core real estate strategy is available to institutional investors and
is increasingly available to retirement plans and target date funds.
Before joining PREI, Garcia was a managing director at RREEF, Deutsche Bank
A.G.’s core real estate strategy, where he was a senior portfolio manager for
various core and value-added funds. Earlier, he worked at Spieker Properties
in Walnut Creek, Calif., and CB Commercial (now CBRE).
A native of Northern California, Garcia holds a bachelor’s degree from the
University of the Pacific with a concentration in business administration.
PREI, which has been investing in real estate on behalf of institutional
clients since 1970, is a leader in the global real estate investment
management business, offering a broad range of investment vehicles that invest
in private and public market opportunities in the United States, Europe, the
Middle East, Asia, Australia and Latin America. Headquartered in Madison,
N.J., PREI has other offices in Atlanta, Chicago, Miami, New York, San
Francisco, London, Lisbon, Luxembourg, Munich, Frankfurt, Paris, Istanbul, Abu
Dhabi, Mexico City, Sao Paulo, Beijing, Hong Kong, Seoul, Singapore and Tokyo.
In addition, PREI has representatives in Milan and is establishing a presence
in Sydney (pending regulatory approval). As of March 31, 2013, PREI managed
approximately $53 billion in gross real estate assets ($37.3 billion net) on
behalf of more than 490 clients worldwide. For more information, visit
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more
than $1 trillion of assets under management as of June 30, 2013, has
operations in the United States, Asia, Europe, and Latin America. Prudential’s
diverse and talented employees are committed to helping individual and
institutional customers grow and protect their wealth through a variety of
products and services, including life insurance, annuities, retirement-related
services, mutual funds and investment management. In the U.S., Prudential’s
iconic Rock symbol has stood for strength, stability, expertise and innovation
for more than a century. For more information, please visit
Prudential Financial, Inc.
John Chartier, 973-802-9829
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