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Real Estate

Access a broad set of investment solutions from one of the largest and most diversified real estate managers in the world.

Our Capabilities

$190B+ AUM

Total Managed Assets Across PIMCO and PIMCO Prime Real Estate ($101.9bn attributed to PIMCO Prime Real Estate)

$120B

Private Real Estate Assets

300+

Professionals include 234 employees of PIMCO Prime Real Estate, an affiliate of PIMCO

30

Includes offices of PIMCO Prime Real Estate, and affiliate of PIMCO

All data as of December 31, 2023. All statistics represent the combined PIMCO and PIMCO Prime Real Estate businesses. 1Assets include $101.9 billion in assets managed by PIMCO Prime Real Estate (“PIMCO Prime”). The AUM attributable to PIMCO Prime includes uncalled capital commitments. PIMCO Prime Real Estate (formerly Allianz Real Estate), an affiliate and wholly-owned subsidiary of PIMCO and PIMCO Europe GmbH that includes PIMCO Prime Real Estate GmbH, PIMCO Prime Real Estate LLC, and their subsidiaries and affiliates. PIMCO Prime Real Estate LLC investment professionals provide investment management and other services as dual personnel through Pacific Investment Management Company LLC. PIMCO Prime Real Estate GmbH operates separately from PIMCO.

We are honored to have been awarded PERE’s Debt Firm of the Year - Global (2023) and REC Europe’s Alternative Lender of the Year – Germany (2023).

PIMCO Real Estate Awards

Debt Firm of the Year: Global was awarded to PIMCO. As of 1 March 2024, based on calendar year 2023. Private Equity Real Estate (PERE) shortlists firms for Debt Firm of the Year: Global based on two main factors: [1] submissions from the industry [which PERE calls for every year] and [2] editorial team expertise, drawn from PERE’s coverage and conversations with sources, and award recipients are selected based on number of votes received by industry peers. Compensation was not provided by PIMCO for obtaining or using the Debt Firm of the Year: Global award.

Alternative Lender of the Year: Germany was awarded to PIMCO. As of 1 March 2024, based on calendar year 2023. Real Estate Capital Europe (REC) shortlists firms for Alternative Lender of the Year: Germany based on two main factors: (1) submissions from the industry (which we call for every year) and (2) editorial team expertise, drawn from our coverage and conversations with sources, and award recipients are selected based on number of votes received by industry peers. Compensation was not provided by PIMCO for obtaining or using the Alternative Lender of the Year: Germany award.

Why PIMCO

Why PIMCO for Real Estate

PIMCO is among the largest and most diversified real estate managers in the world, investing across core, core-plus, value-add and opportunistic assets to bring a broad set of solutions to investors globally.

To learn more about the partnership with PIMCO Prime Real Estate (Formerly, Allianz Real Estate), read the press release here.

PIMCO's Real Estate and broader Alternatives platform provides investors with access to new potential opportunities through innovative strategies.

Top-tier Sourcing

Leverage our scale and market presence, which strengthens our sourcing capabilities across brokers and local operating partners and allows us to consider investments that require varying costs of capital.

Real Estate Solutions

Structuring Expertise

Benefit from our ability to provide creative solutions for complex investment situations by combining PIMCO's structured credit and analytics capabilities with deep asset-level expertise that spans public and private markets.

Integration with PIMCO Platform

Tap into PIMCO's broader resources such as macroeconomic analysis and credit research and risk management processes, as well as an integrated alternatives financing platform, in addition to structured credit and analytics capabilities.

Viewpoints

Commercial Real Estate Outlook: Opportunities Amid Distress

As commercial real estate faces its biggest downturn since the Global Financial Crisis, John Murray, global head of private commercial real estate, discusses the state of the CRE market, where he sees opportunities today, and the tail risks he’s watching.

Investing with us

With $190B+ in commercial real estate AUM and expertise across major asset classes and geographies, the platform offers a broad set of solutions for investors.

Opportunistic real estate

PIMCO’s opportunistic global real estate investments span real estate equity and distressed debt. Investments include direct equity stakes in real estate assets, companies, and distressed loans.

Real estate credit

PIMCO’s credit-based strategies seek to capitalize on opportunities across the real estate lending markets. PIMCO invests in senior loans, mezzanine loans, participating debt, B-notes, loan portfolio term financing, construction loans, structured, sub- and non-performing loans, and distressed debt.

Core and Core+ real estate

PIMCO Prime Real Estate manages one of the world’s largest Core and Core+ real estate portfolios and has deep expertise across global Core and Core+ investing, with a focus on high-quality assets in primary locations.

Public real estate

As part of broader mandates, PIMCO manages over $72B in public real estate assets. Investments include CMBS, CRE CDOs, secured and unsecured debt, and REIT preferred/common equity.

AS OF 12/31/2023

Related Insights

Economic and Market Commentary

Traditional channels of liquidity for commercial real estate have collapsed, providing attractive opportunities for distressed investors.

Economic and Market Commentary

Economic uncertainty can make it challenging to protect investments against inflation. Learn why using a range of real assets, like TIPS and commodities, may provide extra diversification benefits to a 60/40 portfolio.

Disclosures

All investments contain risk and may lose value. Investments in residential/commercial mortgage loans and commercial real estate debt are subject to risks that include prepayment, delinquency, foreclosure, risks of loss, servicing risks and adverse regulatory developments, which risks may be heightened in the case of non-performing loans. The value of real estate and portfolios that invest in real estate may fluctuate due to: losses from casualty or condemnation, changes in local and general economic conditions, supply and demand, interest rates, property tax rates, regulatory limitations on rents, zoning laws, and operating expenses. Investments in mortgage and asset-backed securities are highly complex instruments that may be sensitive to changes in interest rates and subject to early repayment risk. Structured products such as collateralized debt obligations are also highly complex instruments, typically involving a high degree of risk; use of these instruments may involve derivative instruments that could lose more than the principal amount invested. Private credit involves an investment in non-publically traded securities which may be subject to illiquidity risk. Portfolios that invest in private credit may be leveraged and may engage in speculative investment practices that increase the risk of investment loss. Equity investments may decline in value due to both real and perceived general market, economic and industry conditions, while debt investments are subject to credit, interest rate and other risks. Investing in banks and related entities is a highly complex field subject to extensive regulation, and investments in such entities or other operating companies may give rise to control person liability and other risks. In addition, there can be no assurance that PIMCO's strategies with respect to any investment will be capable of implementation or, if implemented, will be successful. Investing in distressed companies (both debt and equity) is speculative and may be subject to greater levels of credit, issuer and liquidity risks, and the repayment of default obligations contains significant uncertainties; such companies may be engaged in restructurings or bankruptcy proceedings.

Statements concerning financial market trends or portfolio strategies are based on current market conditions, which will fluctuate. There is no guarantee that these investment strategies will work under all market conditions or are appropriate for all investors and each investor should evaluate their ability to invest for the long term, especially during periods of downturn in the market. Outlook and strategies are subject to change without notice.

PIMCO does not provide legal or tax advice. Please consult your tax and/or legal counsel for specific tax or legal questions and concerns.

PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This material contains the opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America LLC in the United States and throughout the world.

CMR2024-0306-3420626-T

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