Principal Real Estate Investors Expands Equity Team
Sept. 6, 2006 (Des Moines, Iowa) — Principal Real Estate Investors, the real estate investment arm of Principal Global Investors, today announced the appointment of Christopher Aust as director, acquisitions and dispositions. Aust will be responsible for growing the company's real estate investment business in the Pacific Northwest region of the United States.
"Chris has significant experience sourcing and executing high-profile real estate transactions in San Francisco," said Rod Vogel, managing director of equity production, Principal Real Estate Investors. "His expertise and contacts will be invaluable to us as we seek to further penetrate this highly desirable market, as well as other important Pacific Northwest markets including Seattle and Portland."
Aust comes to Principal Real Estate Investors from Cushman & Wakefield, Inc., one of the nation's preeminent investment brokerage and property management firms. He has close to 15 years of experience in real estate investment, advising and representing clients on the sales and acquisitions of large assets, raising development capital and negotiating joint venture structures. Aust earned a BS in business administration from California State University in Chico, Calif.
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 member of the Principal Financial Group®, 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.
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: Principal Global Investors, LLC; Principal Real Estate Investors, LLC; Spectrum Asset Management, Inc.; Post Advisory Group, LLC; Columbus Circle Investors; Principal Global Investors (Europe) Limited; Principal Global Investors (Singapore) Ltd; Principal Global Investors (Australia) Ltd; and Principal International, Inc., its subsidiaries and affiliates.
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.
