Prudential Real Estate Investors of Parsippany said today that it has acquired Round Hill Capital Partners Kabushiki Kaisha, giving it a presence in JapanPrudential Real Estate Investors of Parsippany said today that it has acquired Round Hill Capital Partners Kabushiki Kaisha, giving it a presence in Japan. Terms of the deal were not disclosed.
PREI, which already operates in Singapore, is the real estate investment management and advisory business of NewarkÂs Prudential Financial, Inc. (NYSE: PRU).
Round Hill, a 6-year-old real estate asset management firm, said it has provided exclusive asset management services to PREI since 2003. Round Hill has arranged 19 investments totaling $1.5 billion for PREIÂs pan-Asian and retail strategies in Japan.
Prudential has offices in Singapore and Hong Kong. PREI Asia had about $4.4 billion in gross assets under management as of June 30, 2007 ($2.4 billion net), with more than 50 percent of those assets in Northern Asia.
Shares of Prudential Financial were trading this afternoon at $97.40 a share, up from FridayÂs close of $96.51.