Revitalizing Brick City with the Help of a Global Asset Manager

This podcast episode explores the revitalization of Newark, New Jersey, and the role of a company founded there in that process. PIGIM Real Estate, a global asset manager, is making significant contributions to the city's development. With over $210 billion worth of assets under management, PIGIM Real Estate focuses on investing in different markets based on the best risk-adjusted returns. While the current market is experiencing limited activity and waiting for re-pricing, the company continues to transact and has seen increased disposition levels. The global chief operating officer and head of US equity for PIGIM Real Estate, Kathy Marcus, emphasizes that this market situation differs from past crises as current fundamentals in various sectors remain strong. Marcus also highlights the operational orientation of the office sector, where office spaces are now more focused on providing a holistic experience and creating a sense of well-being for tenants. Additionally, the podcast delves into the evolving definition of real estate and the shifting preferences towards operational real estate, such as data centers and single-family rentals.