WILLIAMSBURG, VA -- Many of the country's largest real estate developers converged on Williamsburg to discuss Developing Vertical Mixed-Use Projects. Hosted by Prudential Real Estate Investors (PREI®), the conference focused on in-depth analysis of "why" developers should pursue mixed-use real estate projects and how best to develop them.
PREI is the real estate investment management business of Prudential Financial, Inc. (NYSE: PRU). PREI ranks among the largest real estate investment managers with $30.1 billion in net assets under management as of December 31, 2007. As host of the conference, PREI facilitated discussion among highly experienced developers in the areas of retail, residential, and office development projects and attorneys who have structured and negotiated projects with multiple owners and developers.
This second annual conference hosted the best of the industry to discuss mixed-use trends. Held for the first time at the Mason School of Business, the conference included a group of students from The Mason School of Business at The College of William and Mary. Students at the school had a unique opportunity to view, first-hand, the discussions and issues that arise as developers identify, evaluate, and pursue these types of projects.
The conference itself brought together in a real world experience all of the topics the business students address in classes: economic factors, demographics, consumer preferences, land use, entitlement conditions, diversification, and competition. The opportunity allows students to examine these topics-jointly with the top professionals in the field-in a real-time business setting.
"What better way to prepare students interested in a career in real estate development than to put them in the business itself." said Mason School of Business Dean Lawrence B. Pulley.
The conference not only discussed the "why" but also tackled the very tactical considerations of the projects as well, such as design decisions, construction execution, legal issues, and financing challenges.
"Partnering with William and Mary and specifically with the Mason School of Business gives us a great opportunity to expose these young entrepreneurs to the world of real estate development," said Roger S. Pratt, Managing Director of PREI and a 1974 W&M alumnus.
PREI's specialized operating units offer a broad range of investment opportunities and investment management services in the United States, Europe, Asia, and Latin America. The company's fund management operations, located in Parsippany, NJ, Atlanta, Munich, London, Mexico City and Singapore, are supported by a network of local offices throughout the world. For more information, visit www.prei.com.