Feb. 17 (Bloomberg) -- Prudential Financial Inc., the second-largest U.S. life insurer, said its real estate investment business will develop a luxury apartment project in Charleston, South Carolina on behalf of German investors.

Prudential Real Estate Investors and Greystar have formed a venture to develop the 200-unit, mid-rise facility, the Newark, New Jersey-based company said today in a statement distributed by Business Wire.

--Editor: Dan Kraut

To contact the reporter on this story: Andrea Ludtke in New York at aludtke@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net