Rosenthal Properties and PGIM Real Estate have formed a joint venture to acquire a portfolio of five grocery-anchored shopping centers located in the Richmond, Va. metropolitan area for approximately $125 million. Rosenthal will serve as operating partner, responsible for managing and leasing the portfolio. PGIM Real Estate, acting on behalf of institutional investors, is the real estate investment business of PGIM, the $1 trillion global investment management businesses of Prudential Financial (NYSE: PRU).
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