PGIM Starts $500 Million Joint Venture to Buy Multifamily Debt
- Firm’s real estate arm is partnering with Citymark Capital
- Pair will target multifamily debt as maturities loom
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PGIM Real Estate, the $206 billion property arm of Prudential Financial Inc.’s asset manager, is teaming up with Citymark Capital to deploy $500 million to buy multifamily loans.
The joint venture will acquire both performing and non-performing debt, according to a statement Tuesday.