Prudential Property Investment Managers
Encyclopedia
PRUPIM is a top 20 global real estate investment manager, providing integrated services for fund management
, asset management and property management. PRUPIM, part of the M&G Group of Companies, is the real estate investment arm of Prudential plc
in the UK and Europe. PRUPIM is headquartered in the United Kingdom
.
PRUPIM 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 now 279 employees; Martin Moore is the current Managing Director.
PRUPIM owns or co-owns many well-known properties in the UK and around the world, including Manchester Arndale
, Finsbury Circus
, Green Park Business Park, Westfield Fashion Square
, Westfield Garden State Plaza
, Oxford Science Park
, Bluewater, and Cribbs Causeway
movement. PRUPIM achieved full ISO 14001
accreditation for its entire property portfolio.
Many other property investment companies such as Morley Fund Management
, Hermes Real Estate, and AXA Real Estate Investment Managers have also implemented sustainability strategies. PRUPIM 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 .
Investment management
Investment management is the professional management of various securities and assets in order to meet specified investment goals for the benefit of the investors...
, asset management and property management. PRUPIM, part of the M&G Group of Companies, is the real estate investment arm of Prudential plc
Prudential plc
Prudential plc is a multinational financial services company headquartered in London, United Kingdom.Prudential's largest division is Prudential Corporation Asia, which has over 15 million customers across 13 Asian markets and is a top-three provider of life insurance in mainland China, Hong...
in the UK and Europe. PRUPIM is headquartered in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
.
PRUPIM 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 now 279 employees; Martin Moore is the current Managing Director.
PRUPIM owns or co-owns many well-known properties in the UK and around the world, including Manchester Arndale
Manchester Arndale
Manchester Arndale is a large shopping centre in Manchester, England. The centre was built in the 1970s when many other cities were constructing large malls. Manchester Arndale is the largest of a chain of Arndale Centres built across the UK in the 1960s and 1970s...
, Finsbury Circus
Finsbury Circus
Finsbury Circus is an elliptical square with its long axis lying east-west in the City of London, England; with an area of 2.2 hectares it is the largest public open space within the City's boundaries. It has an immaculately maintained Lawn Bowls club in the centre, which has existed in the gardens...
, Green Park Business Park, Westfield Fashion Square
Westfield Fashion Square
Westfield Fashion Square, formerly Sherman Oaks Fashion Square, is a shopping mall in the Sherman Oaks area of Los Angeles, California. It is owned by Westfield Group...
, Westfield Garden State Plaza
Westfield Garden State Plaza
Westfield Garden State Plaza is an upscale shopping mall in Paramus, Bergen County, New Jersey, United States, owned and managed by the Westfield Group and located at the intersection of Route 4 and Route 17 near the Garden State Parkway...
, Oxford Science Park
Oxford Science Park
The Oxford Science Park is a science and technology park located on the southern edge of the city of Oxford, England. It was founded jointly by Magdalen College, Oxford and Prudential in 1990...
, Bluewater, and Cribbs Causeway
Cribbs Causeway
Cribbs Causeway is a road in South Gloucestershire, England, just north of Bristol, which has given its name to a large out-of-town shopping centre, including retail parks and an enclosed shopping centre known as The Mall...
Timeline
- 1848: Prudential Mutual Assurance Investment and Loan Association established.
- 1879: Prudential moved into Holborn Bars, a purpose built office complex designed by Sir Alfred WaterhouseAlfred WaterhouseAlfred Waterhouse was a British architect, particularly associated with the Victorian Gothic Revival architecture. He is perhaps best known for his design for the Natural History Museum in London, and Manchester Town Hall, although he also built a wide variety of other buildings throughout the...
, now a popular architectural landmark, .
- 1920s / 1930s: Since equities collapsed in the Great DepressionGreat Depression in the United KingdomThe Great Depression in the United Kingdom, also known as the Great Slump, was a period of national economic downturn in the 1930s, which had its origins in the global 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 PRUPIM, 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.
Sustainability
PRUPIM has been active in the sustainabilitySustainability
Sustainability is the capacity to endure. For humans, sustainability is the long-term maintenance of well being, which has environmental, economic, and social dimensions, and encompasses the concept of union, an interdependent relationship and mutual responsible position with all living and non...
movement. PRUPIM achieved full ISO 14001
ISO 14000
The ISO 14000 environmental management standards exist to help organizations minimize how their operations negatively affect the environment The ISO 14000 environmental management standards exist to help organizations (a) minimize how their operations (processes etc.) negatively affect the...
accreditation for its entire property portfolio.
Many other property investment companies such as Morley Fund Management
Morley Fund Management
Aviva Investors is an asset management company and is part of the Aviva group. It has global assets under management of over £235 billion, including:...
, Hermes Real Estate, and AXA Real Estate Investment Managers have also implemented sustainability strategies. PRUPIM has reduced CO2
Carbon dioxide
Carbon dioxide is a naturally occurring chemical compound composed of two oxygen atoms covalently bonded to a single carbon atom...
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 .