PGIM Real Estate hires Sara Shank as global head of innovation
- Property & Asset Management Solution
April 29, 2020 – PGIM Real Estate has hired Sara Shank as managing director and global head of innovation, based in its Manhattan office. Shank will lead the firm’s effort to advance investment decision-making and business operations around the world by harnessing data and technology in new ways. PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.3 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
In this newly created role, Shank will work across PGIM Real Estate’s global debt and equity platform to bridge technological innovation and other macro trends affecting the real estate business, with the goal of driving exceptional outcomes for clients. She will be responsible for developing and implementing technology solutions and data strategies across investment, asset management, operations and client servicing.
“Innovation has been a hallmark of our firm since its inception,” said Eric Adler, CEO of PGIM Real Estate. “Now more than ever, it is imperative to adapt and evolve as an organization to meet the major disruptions that are changing every facet of our business—from our investment process, to asset management, client relationship management and our day-to-day-operations. Sara is uniquely positioned to take on this challenge, and I am thrilled she has joined our team.”
Shank brings to PGIM Real Estate more than 20 years of real estate experience across all facets of strategy, innovation, portfolio management, asset management and transactions. She joins from Beacon Capital Partners, where she most recently served as managing director and head of portfolio management. In this role, she was chair of the company’s portfolio committee and a member of the investment, management, internal credit, due diligence and debt committees, in addition to being responsible for driving innovation across the firm. During her tenure, she oversaw the review, screening and implementation of a number of new technologies and platforms.
“I am thrilled for the opportunity to advance PGIM Real Estate’s strategic priority to employ new and innovative technology solutions, including ones that harness the company’s extensive proprietary data, to drive exceptional results for clients,” Shank added.
As an active industry participant, Shank has been a founding member of several industry organization councils, including the ULI National Real Estate Technology Council and CREtech Leadership Board. She has also served as an advisory board member for VTS, WiredScore, CompStak, Building Engines and Comfy.
About PGIM Real Estate
As one of the largest real estate managers in the world with $179.2 billion in gross assets under management and administration,1 PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the $1.3 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU).
PGIM Real Estate’s rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the deep local expertise of professionals in 31 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. For more information visit pgimrealestate.com.
About PGIM and Prudential Financial, Inc.
PGIM, the global asset management business of Prudential Financial, Inc., “PFI” (NYSE: PRU), ranks among the top 10 largest asset managers in the world3 with more than $1.3 trillion in assets under management as of Dec. 31, 2019. With offices in 16 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.
PFI’s additional businesses offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about PFI, please visit news.prudential.com.
PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.
1 As of Dec. 31, 2019. Includes US$37.1 billion in AUA. 2 Includes legacy lending through PGIM’s parent company, PFI. 3 As ranked in Pensions & Investments’ Top Money Managers list, May 27, 2019; based on PFI total worldwide institutional assets under management as of Dec. 31, 2018. Assets under management (AUM) are based on company estimates and are subject to change.
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