Cathy Marcus, PGIM Co-Head and Global COO of Real Estate, recently addressed the dual challenges facing the U.S. property market: the infrastructure demands of the AI data center boom and a severe housing supply shortage. Speaking on Bloomberg's "The Close," Marcus noted that these pressures are increasingly driving the conversion of office buildings into residential housing.
As data center buildouts reach their physical limits, the real estate sector is pivoting to address the country’s "serious" housing needs through adaptive reuse.
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Source · Bloomberg — Technology
