Principal Real Estate raises $258m for debt fund
Principal Real Estate Investors has raised $257.9 million for its Principal Real Estate Debt Fund, according to a filing with the SEC. The core debt fund launched in 2012 with a $500 million fundraising goal. Itoriginates, acquires, aggregates, finances, manages and disposes of private commercial real estate debt investments, primarily mezzanine debt, B-notes, preferred equity and first mortgages including bridge loans on income-producing properties.
Principal Real Estate Investors managed $44.8 billion in commercial real estate assets as of Feb. 22, 2013. 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, a diversified asset management organization and a me