PEOPLE

Andrew Thornton – Chief Executive Officer


Andrew Thornton

Chief Executive Officer

Andrew is the Chief Executive Officer of Principal Real Estate Europe and is responsible for business strategy and business development. He chairs the Principal Real Estate Europe Management Committee and is a member of the Investment Committee. Andrew is also Chair of Principal Global Investors Europe and a member of the Principal Global Real Estate Strategic Working Group.

Andrew, together with Jos Short founded INTERNOS Global Investors, (now Principal Real Estate Europe) in 2008.  Andrew was previously one of the founders, and ultimately Chief Operating Officer, of Invesco Real Estate in Europe prior to which he had roles at the developer Lend Lease and Weatheralls, where he valued, leased and transacted properties across England and Central London.

Andrew has a degree in Economics and Land Economy from Cambridge University and holds an MBA. He is a Fellow of The Royal Institution of Chartered Surveyors, a Chartered Fellow of the Securities and Investment Institute and a Fellow of the Chartered Institute of Marketing.

Patricia A. Bailey – Chief Financial Officer


Patricia A. Bailey

Chief Financial Officer

Pat is the Chief Financial Officer for Principal Real Estate Investors, the dedicated real estate group within Principal Global Investors. She is responsible for the preparation, review and forecasting of all financial information for the real estate asset management business as well as the teams that prepare the financial information for the investment classes in the US and Europe.

Pat joined Principal in 1990 after working for General Growth Management Company. Prior to her current role, Pat served as a manager of investment accounting for mortgages and real estate at Principal Life Insurance Company and then served as the CFO for Principal’s commercial mortgage backed securitization platform. She received a bachelor’s degree in management and accounting from Upper Iowa University.

Pat has previously been the chair of the CRE Finance Council’s Accounting Policy Committee and The Mortgage Bankers Association’s Financial Disclosure Committee.

Jochen Schaefer-Suren - Chief Executive Officer of Hotel & Leisure Division

 


Jochen Schaefer-Suren

Chief Executive Officer of Hotel & Leisure Division

Jochen joined Principal Real Estate Europe (formerly INTERNOS Global Investors) in 2011 to create and lead the Hotel & Leisure Division, responsible for hotel transactions, financing, asset and portfolio management.

Previously Jochen held a similar position at Invesco Real Estate, where he created and led the hotel real estate fund management team and was a member of the Global Executive and Investment Committees. While at Invesco he launched and managed their first hotel real estate fund with a diversified European portfolio worth US$ 900 million. He also managed a number of hotel focused separate account mandates.

From 1995 – 2000, Jochen was led hotel and leisure M&A activity at Lazards, where he was involved in transactions totaling over £1 billion and acted as advisor to a number of large, high-profile international investors on their hotel and leisure strategies. He has also held several senior international positions with hotel groups such as Forte, Hilton and Meridien.

Jochen holds a Masters in Hotel Business Administration from Cornell University, New York and read Law at the University of Heidelberg, Germany.

 

John T. Berg - Head of Private Equity Portfolio Management


John T. Berg

Head of Private Equity Portfolio

John is a senior managing director at Principal Real Estate Investors and oversees the firm’s private equity portfolio management group. He is a member of Principal Real Estate Europe’s Management and Investment Committees and is also the portfolio manager of the Principal U.S. Property Account, a core open-end real estate strategy.

John joined Principal in 1994 and has spent his entire tenure with the firm in the real estate equity area. In addition to portfolio management, John has significant experience in asset management and product development. He received an MBA from the University of Iowa and a bachelor’s degree in economics and psychology from Georgetown University. John serves on Principal Senior Managing Director, Real Estate Investors’ investment committee.

Giles Smith – Head of Fund Management


Giles Smith

Head of Fund Management

Giles is head of fund management for Principal Real Estate Europe and head of its London office. He is responsible for the management of discretionary and advisory capital as well as business development initiatives at corporate and product level.

A Chartered Surveyor with 19 years’ experience in fund management and corporate real estate, Giles joined Principal Real Estate Europe (formerly Internos Global Investors) in 2008 as a Fund Manager, with exposure to real estate investment, portfolio and asset management across multiple asset classes, risk profiles and jurisdictions.

Giles began his career with ATIS Real Weatheralls, providing corporate real estate and consulting services for major listed companies such as London Electricity and Barclays. Giles moved on to become Real Estate Corporate Finance Manager at Deloitte & Touche, working on real estate transactions including the sale and leasebacks as well as providing structural and strategic advice on real estate investment funds.

 

Guillaume Masset - Head of Transactions and Asset Management Europe


Guillaume Masset

Head of Transactions and Asset Management Europe

Guillaume is responsible for transactions and asset management for Principal Real Estate Europe and for business development. He is the Président of the Principal’s French regulated entity, Principal Real Estate SAS, Head of the Paris Office and Regional Head for Netherlands and Southern Europe, with offices in Amsterdam, Madrid, Lisbon and Milan.

Before joining Principal Real Estate Europe (formerly INTERNOS Global Investors) in December 2011, Guillaume launched the Paris Office of Invista REIM in 2007, with €750 million of assets under management. Prior to joining Invista, Guillaume was Structuring and Financing Director at STAM Europe,  where he spent more than 6 years, with responsibility for underwriting and bank financing, raising and structuring several investment funds.

Guillaume graduated from ESC Rouen business school and Carlos III university in Madrid, and holds a DECF and DESCF (CPA).

Indraneel Karlekar, Ph.D. - Global Head of Research & Strategy

 
   Indraneel Karlekar

     Global Head of Research & Strategy

Indy is global head of research and strategy for Principal Real Estate Investors and chairs the Principal Real Estate Europe Investment Committee.

Indy is involved  with the allocation of capital via the creation of real estate portfolio strategies across the four quadrants of commercial real estate. He is a member of Principal Global Investors’ Economic Committee and is responsible for  the delivery of our economic and real estate views to external clients

Indy joined the industry in 2003 and Principal Real Estate Investors in 2013. Prior to his current role he has served as an executive vice president and chief investment strategist at Cole Real Estate Investments and head of global research and strategy at ING Clarion, where he worked on creating global top-down asset allocation strategies by analyzing macroeconomic and real estate variables and was responsible for investment research, white papers, and new product development. Prior to ING, he was a member of the global research team at AIG Global Real Estate. Indy started his career as an Economic Analyst at The Economist Intelligence Unit. He received a Ph.D. in economics from University of Cambridge and is a member of PREA,NCREIF and AFIRE.

Roger Lees – Chief Operating Officer


Roger Lees

Chief Operating Officer

Roger is the Chief Operating Officer for Principal Real Estate Europe, with overall responsibility for fund and business operations and governance.

Roger has more than 30 years’ experience in the real estate industry. He joined Principal Real Estate Europe (formerly INTERNOS Global Investors) as Chief Financial Officer in June 2015 from Aviva Investors, where he was Finance Director, and then Chief Operating Officer, for Aviva’s global real estate investment management business, with responsibility for financial, operational and risk management. Prior to that, he spent 12 years at Schroder Property Investment Management, initially as Chief Financial Officer and subsequently as Chief Operating Officer. Previous appointments have included various roles at Lend Lease, Broadgate Properties and PWC.

He has a law degree and is a member of the Institute of Chartered Accountants.

 

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.

Persons who are not Eligible Persons, including but not limited to those individuals or other persons who fall within the FCA’s definition of ‘retail clients’, should not use or rely upon this website or the information contained therein and may not engage the services of Principal Real Estate or any of its affiliates, or invest in any Fund. Potential investors are advised that all or most of the protections provided by the UK regulatory system will not apply and that the UK Financial Services Compensation Scheme may not be available in relation to an investment in a Fund or separate account.

When using this website and clicking accept below, you agree you will comply with all applicable local, national and international laws and regulations, including but not limited to those laws and regulations relating to data privacy, international communications and exportation of technical or personal data. In certain jurisdictions it may be illegal to access, view or download the information contained on the website and Principal Real Estate and its affiliates hereby disclaim all responsibility and liability if you access or download any information from this website which is in breach of any law or regulation of the jurisdiction in which you are a citizen, resident or domiciled.

This website and the information contained therein is not intended to provide the basis of any investment decision relating to Funds, products or services and any potential investor accessing this website should not solely rely on this website in evaluating the virtues of investing in any investments in such Funds, products or services referred to on this website. Any decision by a person to purchase interests in Funds, products or services must only be made following such person having thoroughly read all of the related materials to such investment including the relevant prospectus or offering memorandum for the relevant Fund and any supplements or appendices thereto, which must be received and reviewed prior to a person making any such investment decision. The relevant prospectus or offering memorandum for the relevant Fund may contain different information to the information and opinions contained on this website at any point in time. Any person purchasing an interest in a Fund, product or service referred to on this website must be able to bear the risks involved and must satisfy the relevant suitability requirements relating to such purchase of an interest in a Fund, product or service. Furthermore, some or all investment programs included on the website may not be suitable for certain investors.
The contents of this website have not been verified or approved by any competent regulatory or supervisory authority. No liability, whether in negligence or otherwise, arising directly or indirectly from the use of the information or any part of it on this website is accepted and no representation, warranty or undertaking, whether express or implied, is or will be made at any time by Principal Real Estate or its affiliates or any of their respective advisers, directors, officers, employees, representatives or other agents (“Principal Agents”) for any information or any of the opinions contained herein or for any errors, omissions or misstatements. None of Principal Real Estate or its affiliates or any Principal Agents makes or has been authorised to make any representation or warranties, whether express or implied, in relation to Principal Real Estate or regarding the truth, accuracy or completeness of any of the information contained on this website at any time. No representation or warranty is given by Principal Real Estate, its affiliates or the Principal Agents as to the achievement or reasonableness of, and no reliance should be placed on any projections, targets, estimates or forecasts contained in the information on this website. Furthermore nothing contained on this website is or should be relied on as a promise or representation as to the future. No reliance may be placed by any person for any purpose whatsoever on the information or opinions contained on this website or on its completeness, accuracy or fairness at any time.

Before accessing this website please confirm that you have understood and agree to the above and that you understand yourself to be, or be representing, an Eligible Person.