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PGIM Real Estate launches German logistics development platform Omnidocks
FRANKFURT, 31 October 2024 – PGIM Real Estate has launched Omnidocks, a platform for ground-up logistics developments in Germany. Omnidocks is part of PGIM Real Estate’s value-add strategy and has already acquired two assets and secured a strong pipeline of upcoming deals. PGIM Real Estate is the US$206 billion investment firm of PGIM and is the third-largest real estate firm globally1.
As an independent company within the strategy, Omnidocks focuses on logistics developments in and around Germany’s top seven cities (Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Düsseldorf), aiming to develop high-quality, newly built properties that meet the demands of tenants and investors in terms of location, efficiency and ESG, while offering maximum tenant flexibility.
Omnidocks has already acquired two development projects, one in Rodgau near Frankfurt, allowing for the construction of over 12,000 sqm of lettable space to be completed by the end of 2024, the second one in Castrop-Rauxel near Dortmund, targeting the development of an urban logistics project with a total of 8,500 sqm of lettable space.
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“Through creating targeted, independent development companies in growth markets – such as Omnidocks – we keep strengthening our market access, thereby creating potential for long-term alpha for our investors.”
Omnidocks is led by Georg Thomas, who has nearly 20 years of experience in logistics real estate, including 12 years as project developer, most recently as director, business development at Hillwood.
In 2023, PGIM Real Estate within the value-add strategy launched Proxilog, an in-house platform for urban logistics investments in France. Establishing Omnidocks is another strategic step towards meeting the strong demand for high-quality logistics properties through providing in-house solutions in European growth markets.
Nabil Mabed, senior portfolio manager of European value-add strategy and head of France, Spain and Portugal, comments: “We are convinced that the demand for high-quality logistics properties in attractive locations will remain structurally high in Europe over the next couple of years. Through creating targeted, independent development companies in growth markets — such as Omnidocks — we keep strengthening our market access, thereby creating potential for long-term alpha for our investors.”
ABOUT PGIM REAL ESTATE
With US$206 billion in gross assets under management and administration2, PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing3, and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.
ABOUT PGIM
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU). In 41 offices across 18 countries, our more than 1,400 investment professionals serve both retail and institutional clients around the world.
As a leading global asset manager with US$1.33 trillion in assets under management4, PGIM is built on a foundation of strength, stability, and disciplined risk management. Our multi-affiliate model allows us to deliver specialised expertise across key asset classes with a focused investment approach. This gives our clients a diversified suite of investment strategies and solutions with global depth and scale across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives. 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 PGIM Real Estate is the third-largest real estate investment manager (out of 76 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments’ Top Real Estate Managers list published October 2023. This ranking represents global real estate assets under management by PGIM Real Estate as of 30 June 2023. Participation in the ranking is voluntary and no compensation is required to participate in the rankings.
2 As of 30 June 2024; net AUM is US$132 billion and AUA is US$47 billion.
3 Includes legacy lending through PGIM’s parent company, PFI.
4 As of 30 June 2024.
For media use only. All investments involve risk, including the possible loss of capital.
The comments, opinions and estimates contained herein are based on and/or derived from publicly available information from sources that PGIM Real Estate believes to be reliable. We do not guarantee the accuracy of such sources of information and have no obligation to provide updates or changes to these materials. This material is for informational purposes and sets forth our views as of the date of this presentation. The underlying assumptions and our views are subject to change.
In the United Kingdom, information is issued by PGIM Real Estate (UK) Limited with registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London WC2N 5HR. PGIM Real Estate (UK) Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number 181389). These materials are issued by PGIM Real Estate (UK) Limited to persons who are professional clients as defined under the rules of the FCA. In the European Economic Area (“EEA”), information is issued by PGIM Luxembourg S.A. with registered office: 2, boulevard de la Foire, L1528 Luxembourg. PGIM Luxembourg S.A. is authorised and regulated by the Commission de Surveillance du Secteur Financier in Luxembourg (registration number A00001218) and operating on the basis of a European passport. In certain EEA countries, this information, where permitted, is presented by PGIM Limited in reliance of provisions, exemptions, or licences available to PGIM Limited under the temporary permission arrangements following the exit of the United Kingdom from the European Union. PGIM Limited has its registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London WC2N 5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number: 193418). These materials are issued by PGIM Luxembourg S.A. and/or PGIM 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.
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