Press release
Principal Real Estate Investors Hires John Kropke to Lead REOC Business in U.S., Europe
DES MOINES, Iowa--(BUSINESS WIRE)-- Principal Real Estate Investors announced today the hiring of John Kropke as managing director of its U.S. and Europe
About this update from Principal Financial Group Inc
[{"type":"text","content":" DES MOINES, Iowa--(BUSINESS WIRE)--\nPrincipal Real Estate Investors announced today the hiring of John Kropke as managing director of its U.S. and Europe real estate operating company (REOC) line of business. Kropke will lead plans within Principal Global Investors to rebuild and expand its international REOC capabilities in response to increased client interest in private REOC platforms that offer a broader investment solution mix.\n\n\n“We’re excited to relaunch our REOC business as we’ve heard from global clients looking for more control of their investments, exclusive and longer-term access to transaction pipelines, and enhanced alignment of interest,” said Todd Everett, CEO for Principal Real Estate Investors. “Principal has an established and successful history in U.S. REOC strategies, making our first operating company investment in 2001. As we’ve taken our real estate capabilities global, adding REOC investment strategies in Europe is a key element of our firm’s long-term strategy and expansion in the region.”\n\n\nKropke is responsible for leading the implementation of Principal’s REOC strategy, including the sourcing, structuring, and management of operating company investment initiatives, ranging from start-up companies to established operating companies. He adds more than 28 years of real estate experience to Principal, having most recently served as a partner of The Townsend Group and portfolio manager in its Special Situations Group.\n\n\n“John is a highly respected operating company investment specialist with extensive experience in the North American and European real estate markets,” Everett said. “I’m confident he’s the right leader to guide the next phase of our REOC business.”\n\n\nThe addition of European REOC capabilities builds on the firm’s expansion in the region’s real estate market since the acquisition of Internos in early 2018.\n\n\n“Principal’s vision of an international REOC investment capability has been in place for a while, but the timing of this announcement is of particular significance given current market conditions,” said Jos Short, executive chairman for Principal Real Estate Europe. “We are excited about the opportunity to bring global investor capital into the European REOC market, helping deleverage balance sheets and support future growth to the mutual benefit of investors and operat...