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Article: Prudential Real Estate Investors: Real Estate Downturn Bottoming Out, Providing Attractive Long-Term Opportunities.
- Article from:
- Business Wire
- Article date:
- July 29, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
PARSIPPANY, N.J.--(BUSINESS WIRE)--July 29, 2002
The downturn in the real estate market appears to be beginning to bottom out, giving investors an attractive opportunity to selectively increase their exposure in the asset class, Prudential Real Estate Investors (PREI) said today in its annual mid-year outlook perspective.
PREI is the real estate investment and advisory business of Prudential Financial, Inc. (NYSE:PRU).
PREI expects 2002 income returns for private unleveraged real estate of between 5 percent and 7 percent, with a slight chance of losing or gaining 1 percent. Income returns have held relatively steady at ...