Sam Mellor has joined as head of real estate debt, Australia, effective immediately. With more than 27 years’ experience in debt markets and portfolio management across Europe and Asia-Pacific, he will lead PGIM’s real estate debt strategies and oversee its Australian portfolio management team, the firm said in a statemement yesterday. 

In December, Stuart Carr will take up the role of head of real estate equity, Australia. Carr, who has more than 20 years’ experience in property development and transactions, will head the equity transaction team, focusing on origination, investment execution and divestment across the country.

The roles are newly created; both men are based in Sydney. Mellor and Carr will report to Steve Bulloch, head of Australia for GIM real estate and head of Asia-Pacific real estate debt.

The firm launched its first Australian real estate debt strategy in 2024, which has seen robust deployment and a healthy investment pipeline, PGIM said.

During the first three quarters of 2025, PGIM completed 17 real estate transactions across APAC worth nearly $1.9 billion, including nine in Australia spanning office, industrial, retail and living sectors. In Australia, it finalised five debt transactions with total commitments of A$283 million ($188 million) and expects to surpass A$500 million in deployments by year-end. On the equity side, the firm has invested a further A$660 million in gross asset value this year. 

PGIM Real Estate is part of , the global asset management business of Prudential Financial.