Clients
Principal Real Estate Investors serves 681 clients, 427 of them other individuals. The average client has about $155 million with the firm, and high-net-worth clients hold 0% of its $105.6 billion in assets.
- Banking or thrift institutions39 clients8%
- Investment companies16 clients9%
- Pension and profit-sharing plans39 clients8%
- State or municipal government entities52 clients39%
- Insurance companies46 clients28%
- OtherCorporations and other businesses, Individuals, High-net-worth individuals, Pooled investment vehicles, Charitable organizations, Sovereign wealth funds and foreign official institutions8%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 427 | $112,841,277 | 0.1% | $264K |
| High-net-worth individuals | 37 | $74,259,681 | 0.1% | $2.01M |
| Banking or thrift institutions | 39 | $8,035,710,061 | 7.6% | $206.0M |
| Investment companies | 16 | $9,702,679,804 | 9.2% | $606.4M |
| Pooled investment vehicles | 6 | $591,066,125 | 0.6% | $98.5M |
| Pension and profit-sharing plans | 39 | $8,680,604,848 | 8.2% | $222.6M |
| Charitable organizations | 6 | $495,991,335 | 0.5% | $82.7M |
| State or municipal government entities | 52 | $41,032,419,442 | 38.8% | $789.1M |
| Insurance companies | 46 | $29,340,685,539 | 27.8% | $637.8M |
| Sovereign wealth funds and foreign official institutions | 5 | $387,754,080 | 0.4% | $77.6M |
| Corporations and other businesses | 8 | $7,192,918,402 | 6.8% | $899.1M |
| Total | 681 | $105,646,930,594 | 100% | $155.1M |
- Clients
- 427
- Regulatory AUM
- $112,841,277
- Share
- 0.1%
- Avg. per client
- $264K
- Clients
- 37
- Regulatory AUM
- $74,259,681
- Share
- 0.1%
- Avg. per client
- $2.01M
- Clients
- 39
- Regulatory AUM
- $8,035,710,061
- Share
- 7.6%
- Avg. per client
- $206.0M
- Clients
- 16
- Regulatory AUM
- $9,702,679,804
- Share
- 9.2%
- Avg. per client
- $606.4M
- Clients
- 6
- Regulatory AUM
- $591,066,125
- Share
- 0.6%
- Avg. per client
- $98.5M
- Clients
- 39
- Regulatory AUM
- $8,680,604,848
- Share
- 8.2%
- Avg. per client
- $222.6M
- Clients
- 6
- Regulatory AUM
- $495,991,335
- Share
- 0.5%
- Avg. per client
- $82.7M
- Clients
- 52
- Regulatory AUM
- $41,032,419,442
- Share
- 38.8%
- Avg. per client
- $789.1M
- Clients
- 46
- Regulatory AUM
- $29,340,685,539
- Share
- 27.8%
- Avg. per client
- $637.8M
- Clients
- 5
- Regulatory AUM
- $387,754,080
- Share
- 0.4%
- Avg. per client
- $77.6M
- Clients
- 8
- Regulatory AUM
- $7,192,918,402
- Share
- 6.8%
- Avg. per client
- $899.1M
Total
- Clients
- 681
- Regulatory AUM
- $105,646,930,594
- Share
- 100%
- Avg. per client
- $155.1M
What it does
Principal Real Estate Investors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and other activities. It is paid through a percentage of assets, fixed fees and performance-based fees.
Principal Real Estate Investors advises 18 private funds.
70.0% of assets ($73.93B across 624 accounts) are managed with discretion; $31.72B across 57 accounts are not. $245.0M sits in a wrap fee program the firm both sponsors and manages. 25% of clients are outside the U.S., and 20 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks38%
- Funds50%
- Cash1%
- Other11%
- These securities include non-agency issued securitized debt instruments (i.e. collateralized mortgage backed securities, asset backed securities and collateralized mortgage obligations).11%
Custodians
Principal Real Estate Investors’ client accounts are held mainly at Wells Fargo Bank, with 15% of managed assets. Principal Real Estate Investors has custody of $12.15B for 29 clients.
- Wells Fargo BankWells Fargo Bank · San Francisco, CA · $15.65B15%
- All other custodians$89.99B85%
Ownership and leadership
Principal Global Investors Holding Company (us) LLC owns 75% or more of Principal Real Estate Investors.
- Owns 75% or more of Principal Real Estate Investors, LLC
Principal Global Investors Holding Company (us) LLC
Control person · since May 2017
- Owns 75% or more of Principal Global Investors Holding Company (us) LLC
Principal Financial Services, Inc.
Control person · since May 2017
- Owns 75% or more of Principal Financial Services, Inc.
Principal Financial Group, Inc.
Control person · since October 2001
Leadership
- Jill HittnerChief Financial Officer
- Justin LangeChief Compliance Officer
- Kamal BhatiaDirector
- George DjurasovicGeneral Counsel
- Todd EverettDirector
- George MarisCIO & Global Head of Equities
- Barbara WenigChief Business Officer
Staff
- 477 employees
- 310 in advisory functions
- 4 insurance agents
Fees
Principal Real Estate Investors is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees.
Principal Real Estate Investors’ fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Principal Real Estate Investors has 15 offices, with 7 listed addresses across 7 states.
California · 1 listed address
- 1920 Main ST, Irvine
Georgia · 1 listed address
- 3625 Cumberland BLVD, Atlanta
Illinois · 1 listed address
- One North Wacker Drive, Chicago
Iowa · 1 listed address
- 801 Grand Ave, Des MoinesHQ
Minnesota · 1 listed address
- 11100 Wayzata BLVD, Minnetonka
New York · 1 listed address
- 888 7th Avenue, New York
Oregon · 1 listed address
- 5885 Meadows Road, Lake Oswego
Other business names
Principal Real Estate Investors has reported 1 other business name to the SEC.
- Principal Asset Management
Registration details
- Legal name
- Principal Real Estate Investors, LLC
- Headquarters
- 801 Grand Ave, Des Moines, IA 50392-0001
- Phone
- 800-787-1621
- Website
- Not reported
- SEC file
- 801-55618
- Structure
- Delaware LLC
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Principal Real Estate Investors have?
Principal Real Estate Investors has 681 clients and manages $105.6 billion for them, as of August 2026. They include 427 other individuals, 52 state or municipal government entities and 46 insurance companies.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 19 August 2026
What services does Principal Real Estate Investors offer?
Principal Real Estate Investors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and other activities.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Principal Real Estate Investors use?
Principal Real Estate Investors’ separately managed account assets are held at Wells Fargo Bank (San Francisco, CA), with $15,653,165,273. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 19 August 2026
How many financial advisors does Principal Real Estate Investors have?
Principal Real Estate Investors has 0 investment adviser representatives registered with state securities authorities, out of 477 employees, and 310 perform investment advisory functions. 0 are registered representatives of a broker-dealer and 4 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Principal Real Estate Investors invest in?
At the end of its last fiscal year, Principal Real Estate Investors’ separately managed accounts held 50% pooled vehicles (private funds and similar), 38% exchange-traded equities, 11% these securities include non-agency issued securitized debt instruments (i.e. collateralized mortgage backed securities, asset backed securities and collateralized mortgage obligations). and 1% cash and equivalents. It advises 18 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Principal Real Estate Investors?
Principal Real Estate Investors is owned through a chain of holding companies by Principal Financial Group, Inc. Its direct owner is Principal Global Investors Holding Company (us) LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 19 August 2026
How does Principal Real Estate Investors get paid?
Principal Real Estate Investors is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file