Principal Financial

Des Moines, Iowa | Principal Real Estate Investors, the real estate investment arm of Principal Global Investors, is launching a new hotel investment capability, further enhancing its already strong investment platform in the traditional sectors of retail, office, multifamily and industrial.

“This is a significant development for us,” said Pat Halter, CEO of Principal Real Estate Investors. “With demand for quality real estate far exceeding supply in the traditional sectors, we’re seeing the need to find new investment alternatives for our clients. The hotel sector has been offering investors good current yields and strong long term internal rates of return, and we’re excited about the ability to offer our clients a whole new array of attractive investments.”

To spearhead its entry into the hotel investment sector, Principal Real Estate Investors has hired hotel investment veteran James E. Fitzgerald, who joins as managing director, hotel investments. Fitzgerald will develop and oversee all of the company’s equity investment and debt financing activities in the hotel sector. “James has a wealth of experience in hotel investing and we’re confident that with his leadership and his contacts, we will be well positioned to meet our clients’ objectives.” added Halter.

Fitzgerald comes to Principal Real Estate Investors from REH Capital Partners, a national investment and advisory services firm that specializes in the real estate and hospitality sectors, which he co-founded and where he served as executive vice president and chief investment officer. Fitzgerald has over 20 years experience in the hotel investment sector, including roles in hospitality consulting, corporate finance, and business development with KPMG, AIG, Omni Hotels and Marriott Corporation. Fitzgerald earned a BS in hotel administration from Cornell University. His email is [email protected]

About Principal Real Estate Investors | Principal Real Estate Investors is the fourth largest institutional real estate manager in the United States based on tax-exempt assets under management and manages or subadvises $35.4 billion in commercial real estate assets. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors. About Principal Global Investors: Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group®, with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. Principal Global Investors manages $168.8 billion in assets primarily for retirement plans and other institutional clients.

About the Principal Financial Group | The Principal Financial Group® (The Principal ®) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $206.0 billion in assets under management and serves clients worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit .

James E. Fitzgerald
515-235-9163