PREI® names Eric Adler as CEO-Europe

PARSIPPANY, N.J.--(BUSINESS WIRE)-- Prudential Real Estate Investors has hired Eric Adler as CEO-Europe, responsible for overseeing its investments and transaction capabilities throughout Western Europe and the emerging markets of Central and Eastern Europe. PREI® is the real estate investment management and advisory business of Prudential Financial, Inc. (NYSE: PRU).

Adler will be located at the London fund management offices of Pramerica Real Estate Investors Ltd., effective July 1, and will oversee PREI’s operations in Europe, which include transaction offices in Luxembourg, Paris, Milan, Madrid, Lisbon and Istanbul. Adler reports to Allen Smith, PREI’s CEO.

“I’m delighted that Eric is joining PREI,” said Smith. “His experience across all of Europe provides a level of expertise that complements our existing team in Europe and provides the leadership necessary to expand the range of opportunities we offer investors worldwide.”

Before joining Prudential, Adler co-directed Tishman Speyer’s European activities and was a member of its Global Management and Investment committees. Earlier, he worked for Morgan Stanley, where he led MSREF’s activities in Germany, France, Italy and Spain. He also had overall operational responsibility for MSREF’s Special Situations Fund II. Before that, he worked for Credit Lyonnais and Unibail in Paris.

Georg von Werz, the CEO of PREI’s Munich-based Pramerica Real Estate International AG, continues to report to Allen Smith. “With his multicultural background, Eric is the ideal person to lead Pramerica's Pan-European platform, which seeks to consistently find high quality transactions and provide asset management support,” von Werz said.

PREI has fund management offices in London, and in Munich, which has a long track record of serving German-speaking clients. Both benefit from the company’s shared resources through offices in Paris, Madrid, Lisbon, Milan, Luxembourg and Istanbul.

PREI, which began operations in the U.K. in 1990, now operates in Europe as Pramerica Real Estate Investors and has eight offices throughout Europe. It offers a range of strategies, most recently expanded with a new debt strategy and U.K. investment strategy. Strategies provided through the firm’s two European fund management centers in London and Munich include its Pan European open-end commingled strategy, designed for a broad range of international investors seeking exposure to European commercial properties. PREI also offers closed-end commingled strategies that pursue opportunistic investing and specialized products for specific investor groups, including those designed specifically for German clients or Sharia'ah-compliant strategies designed for clients seeking Islamic structures.

PREI 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, Asia, and Latin America. Headquartered in Parsippany, N.J., PREI has offices in Atlanta, Chicago, New York, San Francisco, Miami, London, Lisbon, Madrid, Milan, Munich, Paris, Luxembourg, Istanbul, Singapore, Mexico City, Rio de Janeiro, Hong Kong and Tokyo. As of March 31, 2010, PREI managed about $43.8 billion in gross real estate assets ($22.8 billion net) on behalf of more than 490 clients worldwide and ranks among the largest real estate investment managers. For more information, please visit http://www.prei.com.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $693 billion of assets under management as of March 31, 2010, has operations in the United States, Asia, Europe and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. In the U.S., the company’s Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit http://www.news.prudential.com.

Prudential Financial, Inc.
Theresa Miller, 973-802-7455
[email protected]

Source: Prudential Financial, Inc.