The senior hire is replacing Morgan Laughlin, who is transitioning to an advisory role for the real estate business in Japan.

PGIM Real Estate has appointed David Fassbender (pictured) as country head of Japan, in addition to his current role as senior portfolio manager of the firm’s Asia Pacific value-add strategies. 

PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.22 trillion global investment management business of Prudential Financial.

Fassbender has over two decades’ experience in real estate to the role, with a track record of investing across multiple sectors in Japan for PGIM Real Estate’s Asia Pacific value-add fund series, the firm said in a statement.

Fassbender will oversee PGIM Real Estate’s business strategy and operations in Japan, backed by a team of over 30 professionals based in Tokyo. He will continue to manage the Asia Pacific value-add strategies, which have a total transaction volume of $3.8 billion in the Japanese markets to date.

Fassbender, who will be replacing Morgan Laughlin, who is transitioning to an advisory role for the real estate business in Japan, will be dedicated to his role as global head of Data Centre Investments.

The firm has been expanding its data centre capability across its global footprint since completing its first investment in the sector over a decade ago. As investors increasingly incorporate digital infrastructure investment into their portfolios, PGIM Real Estate said it is committed to delivering attractive data centre investment opportunities to institutional and high net worth investors globally.

The firm added that Fassbender and Laughlin will remain on the PGIM Real Estate Asia Pacific executive council and investment committee. Fassbender joined PGIM Real Estate in 2002 and was previously head of South-East Asia, based in Singapore.

“The appointment reiterates our commitment to growing the Japan business, while continuingly strengthening our global data centre franchise to address client needs,” Benett Theseira, head of Asia Pacific for PGIM Real Estate, said.

Since establishing its operations in Japan in 2003, PGIM Real Estate says that it has undertaken more than 60 investments with a transaction volume of $4.5 billion in the country. At present, it has portfolios in the multifamily sector, as well as in the retail, office, and hotel sectors across real estate equity and debt.

With $210 billion in gross assets under management and administration, the firm provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.