PGIM Real Estate enters new joint venture in UK senior housing
PGIM Real Estate has entered into a joint venture with Signature Senior Lifestyle (Signature).
PGIM Real Estate has acquired an office building in Berlin from PPF Group, as part of a share deal for its European valueadd strategy. The property is located in the central business district of Berlin City West and has a total lettable area of around 24,500 square metres spread over nine floors, with two underground floors containing 410 parking spaces.
The multi-tenant property has a diversified tenant structure and a 91% occupancy rate. Tenants include companies such as BDO, Union Investment, Kaufhof Group and the Institute for Quality Assurance and Transparency in Health Care.