“In today’s market, borrowers are increasingly looking for flexible capital solutions that can address more complex financing needs, while investors are seeking value-driven opportunities with strong risk-adjusted return potential,” said Bryan McDonnell, head of Real Estate Credit Strategies at PGIM. “David’s focus on higher-yielding real estate credit directly supports that need, further strengthening our ability to deliver flexible solutions in an area where we’re already active and seeing strong client demand. His deep market knowledge and proven track record in real estate debt investing and credit solutions will be highly additive to our platform.”

“Over the last nine years, we’ve significantly expanded our higher-yielding real estate debt strategies in the U.S. to reach $9 billion in AUM,” said John Jacobs, head of Structured Lending for PGIM’s Real Estate investment group. “Bringing on David is about continuing that growth, deepening our capabilities and providing more solutions to borrowers and investors across the market.”

Blum joins PGIM from Prospect Ridge, where he was managing director and led the firm’s commercial real estate debt strategies. He previously served as managing director at Angelo Gordon, where he was responsible for originating and managing commercial real estate loan investments.

Earlier in his career, Blum also held a number of senior real estate credit roles, including at GTIS Debt Capital Management and LStar Capital. Blum received a B.S. in finance and marketing from the Leonard N. Stern School of Business at New York University.

ABOUT PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), with $1.4 trillion in assets under management.² PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions — including fixed income, equities, real estate and alternatives. With 1,500+ investment professionals across 40 offices in 20 countries, we serve retail and institutional clients worldwide. For more information visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

¹ As of March 31, 2026, AUM reflected as gross. Net AUM is $189 billion and AUA is $50 billion. PGIM Real Estate is the second-largest real estate investment manager (out of 63 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments’ “Largest Real Estate Investment Managers” list published November 2025. This ranking represents AUM as of June 30, 2025. Participation in the ranking is voluntary, and no compensation is required to participate in the ranking.

² As of March 31, 2026

PGIM is the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates. PGIM, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (the "SEC"). Registration with the SEC does not imply a certain level of skill or training. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. Prudential, PGIM, their respective logos and the Rock symbol are service marks of PFI and its related entities, registered in many jurisdictions worldwide.

Please visit the Important Disclosures page on www.pgim.com for additional information.

In the United Kingdom, information is issued by PGIM Fund Management Limited with registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N 5HR. PGIM Fund Management Limited is authorized and regulated by the Financial Conduct Authority ("FCA") of the United Kingdom (Firm Reference Number 181389). In the European Economic Area ("EEA"), information is issued by PGIM Luxembourg S.A. with registered office: 2, boulevard de la Foire, L-1528 Luxembourg. PGIM Luxembourg S.A. is authorized and regulated by the Commission de Surveillance du Secteur Financier in Luxembourg (registration number A00001218) and operates on the basis of a European passport. In certain EEA countries, this information, where permitted, may be presented by PGIM Limited (Firm Reference Number 193418) or PGIM Fund Management Limited in reliance of provisions, exemptions, or licenses available to them. These materials are issued by PGIM Luxembourg S.A., PGIM Limited, or PGIM Fund Management Limited to persons who are professional clients as defined in the relevant local implementation of Directive 2014/65/EU (MiFID II) and/or to persons who are professional clients as defined under the rules of the FCA.
PGIM operates in various jurisdictions worldwide and distributes materials and/or products to qualified professional investors through its registered subsidiaries and affiliates including, but not limited to: PGIM Real Estate (Japan) Ltd. in Japan; PGIM (Hong Kong) Limited in Hong Kong; PGIM (Singapore) Pte. Ltd. in Singapore; PGIM (Australia) Pty Ltd in Australia; and PGIM Real Estate Germany AG in Germany.

The brand "PGIM" (and the formerly used brand "PGIM Real Estate") encompass both (1) a real estate fund advisory business headquartered in Newark, New Jersey, which operates as a business unit of PGIM, Inc., an SEC-registered investment adviser organized as a New Jersey corporation, formerly under the name "PGIM Real Estate," and (2) a commercial real estate debt origination and asset management platform which operates through a separate, affiliated legal entity known as PGIM Real Estate Finance, LLC ("PGIM REF"), a Delaware limited liability company. Several officers of PGIM REF are also associated with PGIM, Inc., and, from time to time, may provide services to PGIM in their capacities as officers of PGIM that are separate and distinct from the services they provide as officers of PGIM REF.

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