Principal, CalSTRS expand relationship with new real estate operating company mandate

Principal Real Estate Investors, the real estate investment team for Principal Global Investors®, has been selected by the California State Teachers’ Retirement System (CalSTRS) as an advisor on real estate operating company (REOC) investments.  

The mandate designates Principal to provide oversight services on six existing CalSTRS REOC investments in the United States, as well as a new capital commitment of $200 million to form or acquire new REOC investments on behalf of CalSTRS in North America and Europe.  

“We are very pleased to have been chosen by CalSTRS for this REOC mandate that expands our relationship of more than 20 years,” said Todd Everett, CEO for Principal Real Estate Invest