“PGIM has invested in over $3.0 B of SJP’s real estate projects since our first partnership in 1996. We have completed more than 30 joint ventures, primarily on developmental projects. Together, we have created hundreds of millions of dollars. SJP’s successful track record and performance have made it very easy for our Investment Committee to endorse investments into new assets. The SJP team has excelled at conceptualizing, designing, obtaining municipal approvals, constructing (on time and within budget), marketing, leasing and operating developmental projects. Their creativity and attention to detail is self- evident at every one of their projects.”