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National  + Finance  |  April 11, 2022
CalSTRS has awarded Principal Real Estate Investors a new mandate on real estate operating company investments
Paul Bubny
By: Paul Bubny

Principal, CalSTRS Expand Relationship with REOC Mandate

Principal Real Estate Investors, the real estate investment team for Principal Global Investors, has been selected by the California State Teachers’ Retirement System (CalSTRS) as an advisor on real estate operating company (REOC) investments.   

The mandate designates Des Moines-based Principal to provide oversight services on six existing CalSTRS REOC investments in the United States, as well as a new capital commitment of $200 million to form or acquire new REOC investments on behalf of CalSTRS in North America and Europe.   

“We are very pleased to have been chosen by CalSTRS for this REOC mandate that expands our relationship of more than 20 years,” said Todd Everett, CEO for Principal Real Estate Investors. “This new initiative represents a continuation of a longstanding, strategic commitment Principal has made to provide REOC investment solutions to our clients.”  

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Principal Real Estate's Everett

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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