Investment Management
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Capital Relationships

The starting fundamental of real estate fund management is the ability to connect investors having similar objectives with opportunities. Therefore, maintaining high level contact with large scale investors and lenders is the fund manager’s lifeblood. We believe that Principal Real Estate Europe can demonstrate:

  • The ability to match capital with opportunities
  • Regular contact with and intimate knowledge of large scale investors
  • A convincing capital relationship team highly regarded within the industry led by Jos Short, Executive Chairman
  • A database of global real estate investors
  • Regularly maintained and updated contacts with lenders and intelligence about their portfolios

Before Principal Real Estate Europe, and before heading Pramerica Real Estate in Europe, Jos Short was a leading real estate investment banker and now has an enviable deal making reputation. Besides Jos Short, the capital raising team includes Andrew Thornton, CEO, former Chief Operating Officer of Invesco Real Estate Europe;

Graeme McCormack, Director Fund Management, Hotel & Leisure Division;
Sebastian Lietsch, Head of Capital Relations;
Guillaume Masset, Head of Transactions, Benelux & Southern Europe.

Fund Management
The Principal Real Estate Europe approach to real estate fund management is designed to be comprehensive, responsive to investor needs, informative and pro-active. It is a full-service set of integrated disciplines that starts from a strong base of strategic insight. Once established, a Principal Real Estate Europe fund continues to receive concentrated attention to maintain performance throughout its term.

Principal Real Estate Europe investors and clients can expect:

  • Asset teams in key markets with wide experience of transactions
  • Strategic underpinning to all investment decisions – expertly formed, openly expressed
  • An investment committee with a global reputation for real estate decision making
  • Principal strives to provide best in industry openness in terms of ongoing quarterly reporting and its timeliness
  • Consultation with investors on key ‘lifetime’ fund decisions, acquisitions and disposals
  • Diversity of expertise and insight across the asset classes
  • Expert debt management, in-house, ongoing, lender contacts at highest levels
  • Tax, structuring and treasury team, in-house, optimising day to day financial performance
  • Sale optimisation through an ongoing legal, compliance and structuring process
Asset Management
At Principal Real Estate Europe we make a priority of local asset management expertise. If skilled personnel are close to the assets, geographically and culturally, we believe that we will be better positioned to receive and use detailed local knowledge and to maximise asset performance. Our trademarked Manage to Core™ philosophy is only credible with Principal Real Estate Europe’s on-the-ground presence. Regular opportunities to add value throughout an investment’s life cycle are created by habitual and constant review of assets managed and the practice of open, active dialogue by local management teams with occupiers, service and debt providers and joint-venture partners. Our investors can therefore expect that we will:

  • Foster long-term value-adding relationships with occupiers to ensure buildings are optimised to meet their needs
  • Drive cost efficiencies to reduce occupation costs and maximise net rents
  • Maintain asset values at optimal levels throughout their time under Principal Real Estate Europe management
  • And thus ensure sale optimisation at a time of our choosing
Timing of acquisitions and disposals, stock selection and a strong pipeline of opportunities are the heart of successful investment management. Our processes ensure not just that transactions undertaken are wise but also that good opportunities are not lost by time-wasting: an advantage of the scrutiny of a highly experienced investment board.

Principal Real Estate Europe has local transaction professionals in the UK, Germany, France, Spain, Portugal, Italy and the Netherlands providing real time market information, deal flow and an understanding of local market dynamics to meet the investment objectives of our clients.

This website, the distribution of information on it and the offer or placement of interests in any fund managed by Principal Real Estate Limited (“Principal Real Estate”) or any of its affiliates (a “Fund”) may be restricted by law or regulation in certain jurisdictions. This website and the information on it is only directed at persons, and interests in any Fund will only be available for investment, to the extent that it is lawful under all applicable law and regulation to do so in any relevant jurisdiction. This website and the information on it are not addressed to any person resident in any jurisdiction where such distribution would be contrary to local law or regulation. Accordingly, visitors to this website should inform themselves about, and observe, local laws in their own jurisdiction which may restrict their ability to engage the services of Principal Real Estate or any of its affiliates, or to invest in any Fund.

In particular for investors in the European Economic Area (“EEA”), this website and the information on it is only directed at persons who are professional investors for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (“AIFMD”), professional clients or eligible counterparties for the purposes of the Markets in Financial Instruments Directive (Directive 2014/65/EU) (“MiFID II”) or as otherwise defined under applicable local law and regulation and at whom this website and the information on it may lawfully be directed in any relevant jurisdiction (“Eligible Persons”). In relation to each member state of the EEA (“Member State”) which has implemented AIFMD (and for which transitional arrangements are not/ no longer available), this website may only be accessed and interests in Funds may only be offered or placed in a Member State to the extent that: (i) the relevant Fund is permitted to be marketed to professional investors in the relevant Member State in accordance with AIFMD (as implemented into the local law/regulation of the relevant Member State); or (ii) this website and its information may otherwise be lawfully distributed and the interests in Funds may otherwise be lawfully offered or placed in that Member State (including at the initiative of the investor). In relation to each Member State of the EEA which, at the date of accessing this website, has not implemented AIFMD, this information may only be distributed and interests in Funds may only be offered or placed to the extent that this information may be lawfully distributed and the interests in Funds may lawfully be offered or placed in that Member State (including at the initiative of the investor).

In addition in the United Kingdom, this website and the information on it is intended only for, and is directed only at, persons who both (i) are capable of being treated by Principal Real Estate as professional clients or eligible counterparties, as each term is defined in the rules of the FCA, and (ii) fall within an exemption from Section 21 (or, in relation to communications by Principal Real Estate concerning collective investment schemes, Section 238) of the Financial Services and Markets Act 2000 (“FSMA”) in accordance with (a) Article 19 of the FSMA (Financial Promotion) Order 2005 (“FPO”) or Article 14 FSMA 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 (“CIS Order”), being investment professionals having experience in relation to investments including unregulated funds, (b) Article 49 FPO or Article 22 CIS Order, being certain high net worth companies, trusts and unincorporated associations etc., or (c) being any other class(es) of person in or outside the United Kingdom to whom this website and its contents may otherwise lawfully be communicated. This website and the information on it and the opportunity to invest in the Funds is only available to such persons in the United Kingdom and this website and the information therein must not be relied or acted upon by any other persons. This website is not directed at or intended for U.S. persons and by accessing this website you represent to Principal Real Estate and its affiliates that you are not a U.S. person as defined in Regulation S under the United States Securities Act of 1933, as amended and are not acting on behalf of a U.S. person, nor purchasing with a view to re-sale in the US or to or for the account or benefit of a U.S. person.

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