Principal Real Estate Investors Increase Northeast Presence
Oct. 3, 2006 (Des Moines, Iowa) — Principal Real Estate Investors, the real estate investment arm of Principal Global Investors, today appointed Derk Taylor as director, acquisitions and dispositions. Taylor will oversee the company's real estate investment business in the Northeast region of the United States.
"Derk has extensive experience sourcing deals, conducting specific investment and portfolio analyses and has substantial knowledge regarding capitalization strategy and implementation," said Rod Vogel, managing director of equity production, Principal Real Estate Investors. "Derk's familiarity with the Northeast region of the U.S. combined with his contacts in this sector will be extremely beneficial for Principal Real Estate Investors as we move forward."
Taylor comes to Principal Real Estate Investors from the Mid-America Management Corp., where he served as the vice president of acquisitions. Taylor has close to 15 years of experience in the real estate investment field. Taylor has counseled clients on the sale of large assets, the underwriting process as well as selecting and screening potential investments. Taylor earned a B.S. in finance from Southern Illinois University at Carbondale and a M.S. in finance from the University of Illinois at Urbana-Champaign.
About Principal Real Estate Investors
Principal Real Estate Investors is the fourth largest institutional real estate manager in the United States based on tax-exempt assets under management1 and manages or subadvises $35.4 billion in commercial real estate assets. 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.
About Principal Global Investors
Principal Global Investors is a diversified asset management organization and a wholly-owned subsidiary of Principal Financial Group, Inc., with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. Principal Global Investors manages $168.8 billion in assets primarily for retirement plans and other institutional clients. 2
About the Principal Financial Group
The Principal Financial Group® (The Principal®)3 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and banking through its diverse family of financial services companies and national network of financial professionals. A member of the Fortune 500, the Principal Financial Group has $206 billion in assets under management4 and serves some 16.3 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
Insurance products and services issued by Principal Life Insurance Company
1) Pensions & Investments magazine annual survey of real estate managers, Oct. 17, 2005.
2) As of June 30, 2006. Principal Global Investors is the asset management arm of the Principal Financial Group® (The Principal®), and includes the global asset management operations of the following members of The Principal Financial Group: Principal Global Investors, LLC (PGI, LLC), some (but not all) U.S. and foreign advisory affiliates of PGI, LLC, and Principal International, Inc. (over which PGI, LLC has no direct or indirect control), including all of its subsidiaries and affiliates, including minority interests in joint ventures over which PGI, LLC has no direct or indirect control.
3) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
4) As of June 30, 2006.
