Pramerica appoints Frank Garcia as portfolio manager for US core real estate strategy
Pramerica Real Estate Investors has appointed Frank Garcia as a managing director and portfolio manager for its core open-ended equity commingled real estate strategy.
Pramerica is the real estate investment and management business of Prudential Financial, which is headquartered in the US.
Garcia is the fourth portfolio manager on the team. He reports to senior portfolio manager Cathy Marcus, as does managing director and portfolio manager Joanna Mulford. Garcia is based in PREI’s San Francisco office, along with assistant portfolio manager Nicole Stagnaro, vice president. He joins in a newly created senior level role to meet the increasingly complex management needs of the US core strategy as it expands to reach clients around the world.
“Adding someone with Frank’s extensive real estate experience further strengthens our core portfolio management team,” Marcus says. “The breadth of his background will be particularly helpful as we seek opportunities to invest on behalf of a growing client base.”
Before joining PREI, Garcia was a managing director at RREEF, Deutsche Bank’s core real estate strategy, where he was a senior portfolio manager for various core and value-added funds. Earlier, he worked at Spieker Properties in Walnut Creek, California, and CB Commercial (now CBRE).