| Description | Value | ||||
| Long-Term Investments 94.9% | |||||
| Private Real Estate | |||||
| Investments in Non-Consolidated Joint Ventures - Industrial(pp) 15.3% | |||||
| 3730 S. Main St., Pearland, Texas^ | $13,421,067 | ||||
| Investments in Non-Consolidated Joint Ventures - Retail(pp) 56.6% | |||||
| East Gate Marketplace, Chantilly, Virginia^ | 23,607,825 | ||||
| Monarch Town Center, Miramar, Florida^ | 26,125,725 | ||||
| 49,733,550 | |||||
| Preferred Equity - Industrial 23.0% | |||||
| 3730 S. Main St., Pearland, Texas, 6.55%, Maturing 10/03/28^ | 20,211,511 | ||||
| Total Long-Term Investments (cost $80,000,082) | 83,366,128 | ||||
| Shares | |||||
| Short-Term Investment 5.4% | |||||
| Affiliated Mutual Fund | |||||
| PGIM Core Government Money Market Fund (7-day effective yield 5.552%) (cost $4,704,437)(wb) | 4,704,437 | 4,704,437 | |||
| TOTAL INVESTMENTS 100.3% (cost $84,704,519) | 88,070,565 | ||||
| Liabilities in excess of other assets (0.3)% | (265,824) | ||||
| Net Assets 100.0% | $87,804,741 | ||||
| ^ | Indicates a Level 3 investment. The aggregate value of Level 3 investments is $83,366,128 and 94.9% of net assets. |
| (pp) | The Fund’s contractual ownership in the joint venture prior to the impact of promote structures ranges from 95.0% to 99.0% of the venture. |
| (wb) | Represents an investment in a Fund affiliated with the Manager. |
