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Strategy differentiators

  • Stable leadership
    Kelly Rush founded our REIT capabilities over 20 years ago and all three global portfolio managers have led the global REIT strategy since its inception.

  • Thoughtful portfolio construction
    “Quality at a reasonable price” investment style favors above average companies trading at average or discounted valuations.

  • Exploiting market inefficiencies
    We use our knowledge of the various global commercial real estate security property sectors and regions to exploit market inefficiencies and generate alpha for our clients.

  • Consistent and attractive returns
    Track record of consistent and attractive risk-adjusted returns generated through bottom-up stock selection.

Strategy facts

  • Manager
    Principal Real Estate
  • Inception
    1 February 2007
  • Index
    FTSE EPRA/NAREIT Developed NTR Index
  • Targeted number of holdings
    85-95
  • Expected turnover
    < 100%
  • Investment vehicles
    CIT, IMA, SMA, U.S. Mutual Fund

Portfolio management

Principal Real Estate

Our experienced investment teams provide comprehensive, specialized, and sustainable capabilities across all four quadrants of commercial real estate—public equity, private equity, public debt, and private debt—and more recently, infrastructure investing. Whatever real estate strategy or combination of strategies you believe is right for your objectives, we can help.

PM Title
Chief Executive Officer, Public Real Assets & Chief Investment Officer, Real Estate
Name
Kelly D. Rush, CFA
38 years of experience
PM Title
Global Portfolio Manager, Real Estate Securities
Name
Anthony Kenkel, CFA, FRM
25 years of experience
PM Title
Global Portfolio Manager, Real Estate Securities
Name
Simon Hedger
44 years of experience
Learn more

Get the latest insights.

Real estate

Global Real Estate Securities Quarterly Update

A quarterly detailed look at global real estate securities markets.

Real estate

Insights into REITs in 2022

Listed REITs and financial markets are under pressure from the forces of rising rates, recession fears, and elevated valuations.

Real estate

Case for REITs

Understand the potential benefits of allocating to listed REITs and how Principal can help.

Past performance does not guarantee future results.

Real estate investment options are subject to some risks inherent in real estate and real estate investment trusts (REITs), such as risks associated with general and local economic conditions. Investing in REITs involves special risks, including interest rate fluctuation, credit risks, and liquidity risks, including interest conditions on real estate values and occupancy rates. International and global investing involves greater risks such as currency fluctuations, political/social instability and differing accounting standards.

Investment guidelines are subject to change.

Not all investment options are available in all jurisdictions. Certain vehicles have not been registered with the United States Securities and Exchange Commission under the United States Securities Act of 1933 and may not be directly or indirectly offered or sold in the United States or to any United States person.

FTSE EPRA/NAREIT Developed NTR Index is designed to represent general trends in eligible real estate equities worldwide. Net Total Return (NTR/NR) includes dividends after the deduction of withholding taxes.

Principal Real Estate is a trade name of Principal Real Estate Investors, LLC, an affiliate of Principal Global Investors.