NEWARK, N.J.--(BUSINESS WIRE)--Prudential Real Estate Investors today announced that Larry Teitelbaum has joined the U.S. marketing team as a Principal and that Steven McSkimming has joined as Vice President, Marketing and Client Services. PREI® is the real estate investment management and advisory business of Prudential Financial, Inc. (NYSE: PRU).
Teitelbaum will be responsible for capital raising, marketing and client services primarily in the Midwest. Before joining PREI, Teitelbaum worked for Deutsche Bank Securities as a vice president for real estate institutional equity sales. Most recently, he was a senior vice president, marketing and client services, for ING Clarion Partners, where he held a similar role. A real estate lawyer for Greenberg Traurig, LLP for three years, Larry has degrees in business administration from Washington University and New York University as well as a law degree from Brooklyn Law School. Larry will be based in Parsippany and will report directly to Les Lockwood who directs PREI’s marketing and client services efforts.
“Larry’s experience raising capital and helping develop opportunities in the U.S. and abroad for clients will be a great asset for our existing clients and for our efforts to grow our client base,” said Allen Smith, CEO of PREI.
McSkimming will provide marketing support and client services to clients and consultants primarily in the western U.S. Before joining PREI, McSkimming was a portfolio manager and investment committee member of Russell Investments in San Diego, Calif. While there, he managed the firm’s flagship core U.S. real estate fund of funds. Prior to that, he was a senior vice president, principal and investment committee member at Institutional Property Consultants. He holds an accounting degree from California State University and a real estate finance degree from San Diego State University.
“I’m delighted that Larry and Steve are joining our team, and I look forward to working with them to provide the superior service our clients demand,” said Lockwood.
PREI is a leader in the global real estate investment management business and has been managing real estate investments for institutional clients since 1970 when the company introduced the industry’s first commingled, open-end equity real estate fund to U.S. pension plans. 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, N.J., PREI has offices in Atlanta, Chicago, New York, San Francisco, Miami, London, Lisbon, Madrid, Munich, Paris, Luxembourg, Istanbul, Singapore, Mexico City, Rio de Janeiro, Hong Kong, Beijing and Tokyo. As of September 30, 2010, PREI managed about $44.8 billion in gross real estate assets ($25.7 billion net) on behalf of more than 490 clients worldwide and ranks among the largest real estate investment managers. For more information, please visit http://www.prei.com.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $784 billion of assets under management as of December 31, 2010, has operations in the United States, Asia, Europe, and Latin America. Prudential’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, investment management, and real estate services. In the U.S., Prudential’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.