NEW YORK CITY—PGIM Real Estate has brought in Lisa Davis as an executive director and portfolio manager to lead its impact-oriented real estate investment initiatives focused on affordable housing and transformative developments. She will be based in New York City and will report to Soultana Reigle, managing director and senior portfolio manager at PGIM Real Estate.
Davis and her team will collaborate with the Impact Investments group of Prudential Financial, PGIM Real Estate's parent company. The group has invested more than $2 billion in impact-oriented assets since its founding more than 40 years ago. It currently has more than $715 million in assets under management with a goal of reaching $1 billion by 2020, and has investments in a variety of asset classes including private debt and equity, mortgages, tax credits, REITS and structured products.
Prior to PGIM Real Estate, Davis gained extensive experience executing large-scale affordable housing and redevelopment projects for both for-profits and nonprofits. She led affordable housing and community development finance strategies at the Ford Foundation and helped establish Ford's impact investing program. Most recently, she was a director with Pembrook Capital Management, where she raised capital for a private equity fund that made commercial real estate debt investments, mainly in affordable housing.
“We are thrilled to add someone with Lisa's depth of commercial real estate investment and development experience, with unique expertise in improving housing and economic conditions in low-income communities,” says Cathy Marcus, PGIM Real Estate's global COO and head of the US business. “Bolstering our impact investment capability underscores our long‐standing commitment to responsible investing, and by partnering with Prudential's Impact Investments group, we will deliver an investment opportunity to our clients that is closely aligned with the socially responsible investment heritage of both PGIM Real Estate and our parent company.”
Focusing on major US markets that are expected to see population and economic growth, PGIM Real Estate will target opportunities in transformative development in emerging, underpriced locations. It will also pursue affordable housing, which has very high demand and low supply across the market cycle.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
