PREI® Joins Center for Real Estate Finance Industry Fellows Program

Dec 08, 2010

Ellen Fitchette, 607.255.6025, ek99@cornell.edu

The Center for Real Estate Finance (CREF) at the Cornell School of Hotel Administration welcomes Prudential Real Estate Investors (PREI®) as the newest member of its CREF Industry Fellows program. As an Industry Fellow, the company will provide financial support to the center, benefit from the research findings of CREF faculty, and contribute to the development of CREF programming.

"By sponsoring the first two Cornell Real Estate Case Competitions, PREI® has already helped provide valuable experiential learning opportunities to students," said Jan deRoos, the HVS Professor of Hotel Finance and Real Estate and executive director of CREF. "We are thrilled to be welcoming PREI to the Industry Fellows program."

PREI® is the real estate  investment management and advisory business of Prudential Financial Inc. (NYSE: PRU). J. Allen Smith, chief executive officer, will represent the company at meetings of the CREF Industry Fellows. Smith has been with Prudential for more than 20 years and oversaw PREI's U.S. business prior to assuming his current role. He earned a masters degree from the School of Hotel Administration.

"Becoming an Industry Fellow gives us the opportunity to expand our commitment to the real estate industry," said Smith. "We are looking forward to working with the Center for Real Estate Finance to advance real estate education and research."

The CREF Industry Fellows program is the cornerstone of the center's outreach efforts. It has been in development since CREF was founded in 2009 and now has 20 members who help fund the annual Cornell Real Estate Case Competition, seminars on current industry topics, student travel to real estate investment conferences, as well as faculty research. The most recent meeting of the Industry Fellows was held in June in conjunction with the NYU International Hospitality Industry Investment Conference in New York City.

About Prudential Real Estate Investors
PREI is the real estate investment management business of Prudential Financial, Inc. PREI offers a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, Asia, and Latin America. Headquartered in Parsippany, NJ, PREI has offices in Atlanta, New York City, Chicago, San Francisco, Miami, London, Lisbon, Madrid, Munich, Paris, Luxembourg, Singapore, Istanbul, Hong Kong, Tokyo, Mexico City, and Rio de Janeiro, as well as representatives in Milan and Zurich.  As of June 30, 2010, PREI managed over $43.1 billion in gross real estate assets ($23.4 billion) on behalf of over 400 clients worldwide and is ranked among the largest real estate investment managers.

About the Center for Real Estate Finance
Established in 2009, the Center for Real Estate Finance provides a platform for educating students, creating new knowledge through research activities, and exchanging information about real estate with a broad set of audiences. CREF is at the forefront of research in all areas of commercial real estate, from the study of the behavior of real estate assets in investment portfolios to an understanding of real estate capital markets to the science of hedging real estate risk. To learn more about CREF, visit www.cref.cornell.edu or contact the center at 607.255.6025 or at cref@sha.cornell.edu.