Prudential Real Estate raises more than expected for senior housing fund

• The real estate and advisory business of Prudential Financial (NYSE:PRU -1%) had hoped to raise $500M for Senior Housing Partners V, but ended up closing with $629M, including $430.5M from ten existing investors and $198.5M from four new investors.
• PREI began investing in senior housing in 1998, and since has invested about $2.6B in gross assets in the sector, involving more than 140 properties and 15K units across the country.
• Source: Press Release