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Prudential Real Estate forms j.v. to invest in Brazilian industrial real estate


Published : Tue, 23 Oct 2007 18:24
By : Agencies
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- Prudential Real Estate Investors, a unit of Prudential Financial Inc., said Tuesday it has formed a joint venture with Racional Engenharia to invest in the Brazilian industrial real estate market.

Prudential said it may invest up to $1 billion through the joint venture, which will focus on the development of distribution centers, light manufacturing facilities and industrial parks.

Shares of Newark, N.J.-based Prudential fell 26 cents to $96.77.

Gabriel Madway

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