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Halter Elected Chairman of National Association of Real Estate Investment Managers

Principal Real Estate Investors Head to Serve Two Year Term as NAREIM Chairman

October 29, 2010 (Des Moines, Iowa) - Patrick G. Halter, the head of Principal Real Estate Investors, the fourth largest institutional real estate manager in the United States, has been elected chairman of the board of the National Association of Real Estate Investment Managers (NAREIM). Halter’s two-year term began on Oct. 1, 2010.

NAREIM is the leading association for companies engaged in the real estate investment management business. Halter’s responsibilities as chairman include helping NAREIM grow and diversify membership, provide key industry information, and produce relevant, effective programming for its membership.

“It’s an honor to serve as chairman of NAREIM,” said Halter. “I look forward to continuing the legacy of great work NAREIM has established. It is an organization which provides our industry with an incredible platform to connect with industry leaders, develop professional relationships, and share industry insights and information.”

NAREIM President, Steve Renna, added the following, “We’re excited and fortunate to have Pat serve as chairman. He brings a wealth of industry knowledge and experience to our organization. NAREIM’s reputation as the leading association serving the real estate investment management industry is in good hands under Pat’s leadership.” 

About NAREIM

The National Association of Real Estate Investment Managers (NAREIM) is the leading association for companies engaged in the real estate investment management business. NAREIM members manage investment capital on behalf of third party investors in commercial real estate assets. Investment sectors include office, retail, multi-family, industrial and hotels. NAREIM members serve the investment goals of public and corporate pension funds, foundations, endowments, insurance companies and individuals – domestic and foreign. Collectively, they manage more than $1 trillion of real estate investment assets around the world.

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 management [1] and manages or subadvises $34.1 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, a diversified asset management organization and a member of the Principal Financial Group®.

About the Principal Financial Group

The Principal Financial Group® (The Principal®)[2] 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. A member of the Fortune 500, the Principal Financial Group has $284.7 billion in assets under management[3] and serves some 18.9 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.

[1]
The 4th largest manager of real estate, ranked by U.S. institutional tax-exempt real estate assets, out of 99 managers profiled, as of June 30, 2009 “Real Estate Managers.” PENSIONS & INVESTMENTS, Oct. 19, 2009.
[2]
The Principal Financial Group and The Principal are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
[3]
As of June 30, 2010.

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