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Press Releases 2021

Principal Real Estate strengthens board in Germany

2021, NEWS

Frankfurt, 15 July 2021: Principal Real Estate has boosted its management team in Germany with two board appointments, promoting both Sebastian Lietsch and Ole Sichter to the position of managing director. In these roles, they will work together with existing board member Ute Suhrbier-Hahn to oversee the management of Principal’s real estate business in Germany.

While continuing with his current role as head of fund management in Germany, Lietsch will take on responsibility for overseeing all fund and financing activity in Germany. Lietsch has more than 20 years of real estate investment experience, the last 10 of which have been spent managing real estate funds for institutional investors and eight working with the senior team at Principal Real Estate.

 Sichter rejoins the business following eight months at Verianos SE to resume his previous responsibilities as head of transactions in Germany. In this role, he takes on responsibility for overseeing all property activities in Germany. Sichter has more than 18 years of real estate and investment industry experience.

Commenting on the appointments, Andrew Thornton, CEO of Principal Real Estate Europe, said: “It’s great to be able to promote from within the business. Sebastian and Ole are well positioned to lead our German team, serve our client base, and further diversify local investment capabilities to meet their investment needs. They will continue to collaborate with key internal and external partners to expand our real estate business in Germany and Europe moving forward.

“Our activity in Germany highlights where we see significant investment opportunities in the European real estate market. With active strategies in healthcare, convenience retail and now data centres, we believe the alternative real estate sectors have the potential to enhance investor returns alongside the more traditional office, hotel and logistics sectors where we also have significant experience and track record.”

Sebastian Lietsch, managing director and head of funds management in Germany for Principal Real Estate, said: “As Germany starts to emerge from the COVID-19 pandemic, we’re looking to grow our investment management platform in Germany in response to increasing demand for alternative real asset strategies. In an age where some of the traditional asset classes have succumbed to the growth in online retail or uncertainty due to changes in occupier behaviour, it’s important to be able to provide investors with a diverse range of investment strategies.”

Ole Sichter, managing director and head of transactions in Germany for Principal Real Estate, said: “We’re starting to see an increase in transactional activity across Germany as investors look to deploy capital that has been on hold over the past 12 months. With such high levels of investor interest and competition over assets, it’s essential that investors select the right partners with teams on the ground who have rich knowledge of the assets and occupier markets, especially in a country like Germany where there is such regional diversity.”

-Ends-

Principal contact for further information:

  Phillip Nicolino

Principal
nicolino.phillip@principal.com

PR contact for further information:

James Verstringhe,

Tavistock
T +44 (0)20 79203150

james.verstringhe@tavistock.co.uk

Notes for editors:

Principal Real Estate Europe

Principal Real Estate Europe is part of Principal Financial Group’s dedicated real estate business, Principal Real Estate Investors, which manages or sub-advises $90.3 billion in real estate assets globally (as of March 31, 2021). The group’s real estate capabilities cover all four quadrants encompassing public and private, equity and debt investment solutions. In Europe, Principal Real Estate Europe operates from offices in London, Frankfurt, Amsterdam, Paris, Lisbon, Luxembourg, Madrid and Milan, employing more than 100 staff who manage real estate across all asset classes in nine different countries.

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