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Principal Real Estate Investors Earns High Marks on Tenant Satisfaction Survey

Kingsley Index covers office, industrial, retail and multifamily properties

September 23, 2013 (Des Moines, Iowa) —Principal Real Estate Investors, one of the largest institutional real estate managers in the United States, received strong scores on its 2013 Kingsley IndexSM tenant satisfaction survey, exceeding the benchmark in key areas including overall satisfaction, property management and property features.

“Principal Real Estate Investors' commitment to maintaining the quality of its properties and providing a high level of service to its tenants and residents is evident by their strong performance in this year's customer survey results,” said John Falco, principal at Kingsley Associates.

The Kingsley Index is the largest and most comprehensive performance-benchmarking database in the industry. Compiled from more than 25 years of analyzing the performance of real estate industry leaders, the proprietary Index measures tenant, resident, employee and client satisfaction, as well as broker relations and operational effectiveness.

Highlights of the survey include:

Office

  • Overall tenant satisfaction exceeds the Kingsley Index benchmark
  • Tenant satisfaction also exceeds the Kingsley Index in the areas of property management, leasing, maintenance/engineering, cleaning, security, accounting and interior/exterior property features

Industrial

  • Overall tenant satisfaction exceeds the Kingsley Index
  • Satisfaction with property management exceeds the Kingsley Index in seven out of eight areas tracked
  • Satisfaction with property features exceeds the Kingsley Index

Retail

  • Tenant satisfaction with property management matches the Kingsley Index in six out of eight areas tracked
  • Satisfaction exceeds the Kingsley Index on six out of nine common retail center features

Multifamily

  • Overall resident satisfaction exceeds the Kingsley IndexSM benchmark
  • Resident satisfaction generally exceeds the Kingsley Index in the areas of property management, leasing, maintenance/engineering, community services and community/apartment features

“This year's tenant survey results are very favorable within our industry and reflect the excellent job our third-party property managers do for our clients and tenants in the properties they manage on our clients' behalf,” said Rod Vogel, managing director at Principal Real Estate Investors.

About Kingsley Associates

The most successful firms in real estate rely on Kingsley Associates for cutting-edge business intelligence solutions. With a depth and breadth of insight unmatched in the industry, Kingsley Associates brings thought leadership and passionate client service to every engagement. Kingsley Associates is a leader in tenant satisfaction surveys, resident satisfaction surveys, client perception studies, strategic consulting and operations benchmarking. To learn more, please visit our website www.kingsleyassociates.com or blog www.kingsleyinsight.com or follow us on Twitter @Kingsley_Assoc.

About Principal Real Estate Investors

Principal Real Estate Investors manages or subadvises $47.0 billion in commercial real estate assets[1]. 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 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 $289.1 billion in assets[2] primarily for retirement plans and other institutional clients[3].

About the Principal Financial Group

The Principal Financial Group® (The Principal ®)[4] is a global investment management leader offering retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $450.6 billion in assets under management[5] and serves some 19.8 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]
As of June 30, 2013.
[2]
As of June 30, 2013
[3]
Principal Global Investors is the asset management arm of the Principal Financial Group® (The Principal®) and includes the asset management operations of the following subsidiaries of The Principal: Principal Global Investors, LLC; Principal Real Estate Investors, LLC; Principal Enterprise Capital, LLC; Liongate Capital Management LLP; Spectrum Asset Management, Inc.; Post Advisory Group, LLC; Columbus Circle Investors; Edge Asset Management, Inc.; Morley Financial Services Inc.; Finisterre Capital, LLP; Origin Asset Management, LLP; Principal Global Investors (Europe) Limited; Principal Global Investors (Singapore) Ltd.; Principal Global Investors (Australia) Ltd.; Principal Global Investors (Japan) Ltd.; Principal Global Investors (Hong Kong) Ltd.; CIMB-Principal Islamic Asset Management Sdn. Bhd.; and the majority owned affiliates of Principal International, Inc. Assets under management includes assets managed by investment professionals of Principal Global Investors under dual employee arrangements with other subsidiaries of The Principal and assets managed in accordance with investment advice provided by Principal Global Investors through the delivery of a model.
[4]
“The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
[5]
As of June 30, 2013.

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