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Principal Real Estate Investors Ranked Among "Greenest Companies" in the U.S.

Commercial Property Executive recognizes company’s green commercial real estate initiatives

March 24, 2011 (Des Moines, Iowa) – Principal Real Estate Investors, the fourth largest institutional real estate manager in the United States, is among the greenest commercial real estate companies in the United States, according to Commercial Property Executive. The real estate publication’s annual ranking puts Principal Real Estate Investors in a class of companies forging the path for a sustainable future.

“It’s an honor to be recognized for our efforts in creating and implementing industry-leading green initiatives,” said Patrick Halter, chief executive officer of Principal Real Estate Investors. “We’ll continue to set the pace for institutional investors by optimizing building performance and reducing energy consumption.”

In 2010, Principal Real Estate Investors solidified a reputation for sustainable investment and property management with the Ten Pillars of Peak Performance, a program establishing environmental sustainability guidelines for property managers and joint venture partners that focuses on optimizing building performance and reducing energy consumption. More than 90 percent of the office buildings under management have completed some type of green building project, upgrade or improvement. This effort is projected to save approximately $12 million over the next eight years with minimal capital expenditures. The company’s focus on green initiatives has yielded impressive results:

  • 3 percent reduction in energy consumption resulting in $1.2 million of savings.
  • 24 buildings (more than 6.2 million square feet and $1.2 billion in value) are Leadership in Energy and Environmental Design (LEED®) certified, with an additional 68 buildings currently registered with the United States Green Building Council (USGBC) for LEED certification.
  • Nearly 50 percent of the office buildings under management received the 2010 ENERGY STAR® designation and rank in the top 18 percent in the nation in building efficiency with an 82 overall ENERGY STAR rating.
  • A company-wide commitment as an ENERGY STAR Partner to measure, track and improve energy performance.
  • Becoming a signatory for the United Nations-backed Principles for Responsible Investment (PRI).

In 2009, Principal Real Estate Investors launched the Principal Green Property Fund I, LP, which is one of the first institutional commercial real estate funds to focus on investing in green properties. Additionally, the company’s core plus commingled fund ranked first among U.S. private property funds and sixth among global private property funds for corporate environmental policies and management[1].

“Environmentally conscious building decisions offer investors a long-term competitive advantage over similar properties utilizing conventional practices and makes good business sense” said Halter. “The movement toward sustainable – or green – building practices is a structural change in the commercial real estate market, and we are committed to sustainable building practices throughout our portfolio.”

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[2] 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, a diversified asset management organization and a member of the Principal Financial Group®.

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. A member of the Fortune 500, the Principal Financial Group has $318.8 billion in assets under management[4] and serves some 19.1 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]
2009 Environmental Real Estate Survey, Maastricht University, Netherlands. Rankings out of 37 U.S. and 126 global private property funds, respectively.
[2]
The 4th largest manager of real estate, ranked by U.S. institutional tax-exempt real estate assets, out of 87 managers profiled, as of June 30, 2010 PENSIONS & INVESTMENTS, September 10, 2010.
[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 Dec. 31, 2010.

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