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What You'll Do

We’re looking for an Investment Director – Asset Management to join our Principal Real Estate team. As part of a dedicated Separate Account Team serving a 3rd party institutional client, you would be responsible for all aspects of investment management and investment production for an assigned private equity industrial real estate portfolio/geographic market.

In addition to managing core operating assets, you would handle more challenging (value-add) asset assignments such as complex leasing transactions, property re-positioning activities, and development projects.

+ Joint Venture partner relationship management, especially with local development partners

+ Communicate to our client the attributes of each investment owned and market dynamics

+ Review and present recommendations on new prospective industrial development, core and value-add acquisition transactions within appropriate risk/return parameters to the dedicated Portfolio Management Team, our client, and the internal Principal Real Estate Investment Committee

+ Conduct due diligence, financial analysis, and prepare investment memoranda supporting new investments and dispositions

+ Develop and maintain key relationships in the assigned markets with property managers, leasing agents, and investment sales brokers

+ Understand and negotiate Joint Venture Operating Agreements, Development Management Agreements, Property Management Agreements, and Leasing Agreement

+ Create annual asset business plans and budgets.

+ Indirect management and development of an assigned analyst

Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing about $580 billion in assets and over 60 years of experience. Principal Asset Management has been recognized as a “Best Places to Work in Money Management” for 13 consecutive years! Check us out at www.principalam.com!

Who You Are

+ Bachelor's degree in finance, economics, business or related field required; real estate emphasis preferred.

+ 8+ years' experience in commercial real estate philosophies, policies, strategies and procedures (15+ years' preferred)

+ 5+ years’ experience dealing with complex real estate transactions in a major market with significant industrial real estate focus

+ Industrial asset management and development experience

+ Knowledge of property valuation applications (Argus experience) and understanding of discounted cash flow analysis and land residual analysis

Skills That Will Help You Stand Out

+ Development management oversight, including experience working with development management agreements and reviewing draw requests

+ Experience reading, interpreting and understanding contracts and other legal documents

+ Strong oral/written communication skills, listening skills and negotiation skills (on the phone, in person and making presentations)

+ MBA

+ Demonstrated diplomacy and troubleshooting skills for use within the regional structure and with other internal functional areas

+ Notable existing market contacts within the Industrial real estate industry

+ Prior experience running effective meetings, displaying strong leadership and mentoring skills, and professionally and effectively interacting with others

Must be able to travel 20-25% to markets, meet with owners, developers, brokers and other market participants and inspect properties.

Salary Range Information

Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.

Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)

$157000 - $213000 / year

Time Off Program

Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.

Pension Eligible

No

Location

The position is based out of Des Moines, IA. You can check out what our Global Headquarters looks like here:

Work Authorization/Sponsorship

At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.

Nonimmigrant Workers (https://www.uscis.gov/working-in-the-united-states/temporary-nonimmigrant-workers) and Green Card for Employment-Based Immigrants (https://www.uscis.gov/green-card/green-card-eligibility/green-card-for-employment-based-immigrants)

Investment Code of Ethics

For Principal Asset Management positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.

Experience Principal

At Principal, we value connecting on both a personal and professional level. Together, we’re imagining a more purpose-led future for financial services – and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our employees. And we support our employees the same way we support our customers: with comprehensive, competitive benefit offerings crafted to protect their physical, financial, and social well-being. Check out our careers site (https://www.principal.com/about-us/careers) to learn more about our purpose, values and benefits.

Principal is an Equal Opportunity Employer

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

Posting Window

We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.

Original Posting Date

1/16/2026

Most Recently Posted Date

1/16/2026