Asia-pacific Property Fundraises $534m

Pramerica Real Estate Investors has raised $534 million for its Asia Property Fund (ASPF) III, the third in a series of real estate funds investing in the Asia Pacific region, according to Deal Street Asia.

Pramerica Real Estate Investors is the real estate investment management and advisory business of US-headquartered Prudential Financial, Inc, and operates as Prudential Real Estate Investors in the Americas, Korea and Japan.

ASPF III will invest in Asia Pacific real estate, including office, retail, residential and logistics, in both mature and emerging markets, and it will target Australia, China, Japan, Malaysia, Singapore, Hong Kong and South Korea.

Pramerica has been investing in Asia Pacific since 1994 and has $5.3 billion in assets under management as of March 31, 2015.

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