M&G Real Estate
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M&G Real Estate (formerly known as PRUPIM) is a global real estate investment manager, providing integrated services for fund management, asset management and property management. M&G Real Estate, part of M&G Investments, is the real estate investment arm of Prudential plc in the UK and Europe. M&G Real Estate is headquartered in the United Kingdom.
M&G Real Estate began its real estate investment activities in 1848, and is today one of the largest real estate investment groups in the United Kingdom. There are over 200 employees; Alex Jeffrey was appointed chief executive in July 2012.
M&G Real Estate owns or co-owns properties including Manchester Arndale, Finsbury Circus, Westfield Fashion Square, Westfield Garden State Plaza, Bluewater, Cribbs Causeway, and Fremlin Walk, Maidstone.
- 1848: Prudential Mutual Assurance Investment and Loan Association established.
- 1879: Prudential moved into Holborn Bars, a purpose built office complex designed by Sir Alfred Waterhouse, now a popular architectural landmark,.
- 1920s / 1930s: Since equities collapsed in the Great Depression, many corporations diversified their holdings by investing heavily in property. During these years, Prudential made major real estate investments.
- 1982: The Prudential Estates department of Prudential Assurance Company, a forerunner of M&G Real Estate, became PPM Property
- 2001: Prudential Portfolio Managers (PPM) was integrated with Prudential's newly acquired fund management arm M&G
- 2006: Prudential Property Investment Managers was formally rebranded as PRUPIM.
- 2013: M&G Investments changes the name of PRUPIM to M&G Real Estate
Many other property investment companies such as Morley Fund Management, Hermes Real Estate, and AXA Real Estate Investment Managers have also implemented sustainability strategies. M&G Real Estate has reduced CO2 emissions by 14% against the 2006 baseline and has avoided the emission of 55,000 tonnes of CO2 through the purchase of green electricity; there has been a 10% increase in water efficiency across its managed offices.
- "Archived copy" (PDF). Archived from the original (PDF) on 2011-07-15. Retrieved 2008-07-28.
- Price, Chris (25 November 2014). "Fremlin Walk, Maidstone, bought by M&G Real Estate from Legal & General Property for £110m because of its 'good prospects for rental growth'". kentonline.co.uk. Retrieved 20 January 2017.