Pramerica Real Estate Investors has named Sebastiano Ferrante Head of its German business, Pramerica AG, replacing Georg von Werz, who retired at the end of 2012. Pramerica is the US-based real estate investment management and advisory business of Prudential Financial, Inc.
Von Werz, who retired after 35 years in the real estate industry, was a founding partner of TMW Immobilien AG, which was acquired by Pramerica 10 years ago.
Ferrante, who was most recently Co-country Head for Germany for Tishman-Speyer, joined Pramerica effective January 1, 2013. He will serve on Pramerica's European Executive Committee and report to Eric Adler, Head of Pramerica's European business and global Chief Operating Officer.
"With impressive real estate industry experience, including managing KAG regulated funds, Sebastiano brings investment and leadership skills that complement our existing Munich-based team," said Allen Smith, CEO of Pramerica Real Estate Investors. "Germany is a large investment market and important destination for capital and plays an important role in our growth in Europe as we expand German investment offerings."
While at Tishman, Ferrante was responsible for business activities in Germany with a focus on acquisitions and development on behalf of several funds, as well as leading the firm's operational platform including: property management, asset management, leasing and construction management services for the fund entities. From 2002 to 2006 he worked for Deka Immobilien Investment, where he was team leader of the European investment department. Earlier, he co-founded Lang & Cie Real Estate AG, a commercial real estate developer and investment company.
Ferrante is a real estate economist and graduate of the European Business School, and has a degree in psychology from the J.W. Goethe University.
Pramerica Real Estate Investors is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America. Headquartered in Madison, N.J., the company also has offices in Atlanta, Chicago, Miami, New York, San Francisco, Lisbon, London, Luxembourg, Munich, Paris, Abu Dhabi, Istanbul, Mexico City, Rio de Janeiro, Sao Paulo, Beijing, Hong Kong, Seoul, Singapore, and Tokyo.
In addition, the company has representatives in Milan and is establishing a presence in Sydney, pending regulatory approval. Pramerica Real Estate Investors has gross assets under management of USD $51.2 billion ($34.6 billion net), as of September 30, 2012. For more information, visit http://www.pramericarei.com.
Pramerica Financial is a trade name used by Prudential Financial, Inc., a company incorporated and with its principal place of business in the United States, and its affiliates in select countries outside the United States. PFI, a financial services leader with approximately US $1.005 trillion of assets under management as of September 30, 2012, has operations in the United States, Asia, Europe, and Latin America.
PFI's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., the company's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/. PFI of the United States is not affiliated in any manner with Prudential plc, a company incorporated in the United Kingdom.
Source: Pramerica
