Eric Adler was named CEO of Prudential Real Estate Investors, effective in September, confirmed spokeswoman Theresa Miller.
Mr. Adler will replace Allen Smith, who will become president and CEO of Four Seasons Hotels and Resorts. Mr. Smith, who has been with the firm 26 years, will assist in the transition.
Mr. Adler joined PREI in 2010 and was named chief investment officer in January. He will report to David Hunt, CEO of Prudential Investment Management. It has “not been determined how to handle” the CIO role at this point, Ms. Miller said.
PREI managed about $53 billion real estate assets, as of March 31.