The real estate arm of PGIM - the $1 tln asset manager of New York-listed group Prudential Financial - said that the activity was carried out on behalf of institutional investors. The transactions included investments in real estate equity and debt, as well as property sales.

'PGIM Real Estate’s 2017 transactions reflect our ability to look beyond the cycle to assess value in a long-term context. We successfully identified attractive income streams and areas of market dislocation to deliver target returns for our clients via  growth-driven, value-driven and cyclical opportunities around the world,' said Eric Adler, CEO of PGIM Real Estate.

The more than $14 bn total was across 212 transactions, spanning the Americas, Europe and Asia Pacific regions. The regional breakdown was as follows:

• More than $8 bn through 115 US. transactions
• More than $3 bn through 61 Europe transactions
• More than $2 bn through 17 transactions across Asia Pacific, primarily in Japan, Singapore and Australia
• More than $700 mln through 19 Latin America transactions, primarily in Mexico
• More than $500 mln invested through debt strategies, primarily across the UK and the US

The US claimed the largest share, $8 bn in 115 transactions. 

Europe was in second place with a volume of €3 bn (€2.3 bn) across 61 deals. The UK and Germany accounted for the majority of transactions activity in Europe, which was 15% higher than in 2016. Most of the 61 European acquisitions targeted the office and hospitality sectors, as PGIM Real Estate continued to focus on value-add opportunities in major markets, along with capitalising on major structural trends in alternative sectors.

In addition, PGIM Real Estate provided about $360 mln in financing across 11 transactions, primarily in the UK. Transactions included whole and junior loans, and mezzanine and preferred equity positions in development and existing assets. Sectors included traditional residential, student housing, office, retail, industrial, mixed-use schemes and hotels.

The rest of PGIM Real Estate's transactions took place in Asia-Pacific (€2 bn) and Latin American (€700 mln). 

See also, PGIM Real Estate's 2016 deals top €2.3b in Europe

Top Investors
PGIM featured in 22nd position in PropertyEU's last Top Investors Deal and Dealmakers ranking, which was published in March 2017. The position was based on just over €3 bn of European transactions in 2016. The next ranking - based on European real estate transactions volume for 2017 - is published in May 2018.

For more information, email surveys@propertyeu.info