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What You'll Do

Principal Real Estate Investors is offering an exciting internship opportunity for those interested in Commercial Real Estate investments. During this internship, interns work in one area but will have exposure to many areas of the business.

Commercial real estate is a dynamic business with several investment sectors, each requiring area-specific disciplines and unique opportunities. Interns will have the opportunity to work on one of the teams mentioned below and responsibilities will include underwriting potential investments, consolidating investment information, and reporting on current investment portfolios. You will also gain valuable experience with industry-specific software, including ARGUS.

**Acquisitions & Dispositions** : Basically, it’s buying and selling. You’ll work closely with analysts and managers to evaluate the merits of acquiring and selling commercial real estate assets.

+ Participate in the lifecycle of a deal – reviewing marketing materials, creating client presentations, analyzing financials, and collaborating with investment teams.

+ Work with sales brokers to help develop transactions and close deals.

**Asset Management & Development** : Think of commercial real estate not as buildings, but as assets – key components of our global investment portfolio.

You’ll receive training and experience in a variety of key asset management disciplines, including:

+ Investment analysis

+ Valuation

+ Lease profitability analysis

+ Underwriting for ground-up development

+ Client reporting

**Private Debt Origination** : Every commercial property investment has its own unique risk-return relationship, and our skills in evaluating that relationship are key to our success. We’ll show you how our system works.

+ Become proficient in Argus and other analytical investment tools.

+ Use our software to research and build loans.

+ Work with our team to analyze deals.

+ Create presentations for eligible capital clients and investment committees.

Internship Capstone Project Overview: Real Estate Development Case Study

With a duration of 10-weeks, this project offers interns a hands-on opportunity to explore the full lifecycle of a real estate development project. Interns will collaborate in teams to analyze a real-world case study, gaining practical experience in market research, financial modeling, and strategic planning. In addition to engaging with industry professionals to gain insights and validate their assumptions, interns will develop a comprehensive recommendation and present their findings to Principal’s senior leadership team.

Internship Training Series Overview: Principal Real Estate & Private Markets

As part of the internship experience, all interns are required to attend a curated series of training sessions designed to provide foundational knowledge across key areas of real estate and private markets – from the various investment strategies to teams that support the execution of the overall business. These 1-hour sessions are led by senior leadership and subject matter experts from across the organization, offering interns direct exposure to industry expertise and strategic thinking.

Topics include:

+ Acquisitions/Dispositions

+ Asset Management

+ CMBS

+ Data Science & Analytics

+ Debt Servicing

+ Environmental Sustainability

+ Principal Real Estate Europe

+ General Account Cash Flow

+ Insurance & Risk Management

+ Listed Infrastructure

+ Private Credit

+ Private Debt & Debt Infrastructure

+ Private Equity

+ Product Development / Sales & Marketing

+ Project Finance (Debt Finance Strategy & Procurement)

+ Real Estate Economics

+ Four Quadrants of Real Estate

+ Real Estate Investment Trusts (REITs)

+ Real Estate Operating Company Investments (REOC)

+ Structured Debt

Who You Are

+ Working towards or have a bachelor’s or graduate level degree in a field related to real estate, finance, accounting, or economics.

+ Previous internship or work experience in commercial real estate.

+ Strong communication and leadership skills, demonstrated through formal positions in student organizations, community involvement or employment experiences.

+ Intermediate to advanced Excel skills.

Skills That Help You Stand Out

+ Current or previous participation in the Sponsors for Educational Opportunity (SEO) Real Estate Program or another formal real estate program

+ 3.0 GPA or higher is strongly preferred

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)

$20 - $20 / hour

Time Off Program

Paid company holidays and any time off required in your state.

Pension Eligible

No

Location and Work Environment

This role offers the ability for in-office & hybrid (blending both office and remote work in a typical workweek). You’ll work with your leader to determine which option may align best based on several factors. Principal has a business casual dress code. The internship will take place at Principal’s global headquarters in Des Moines, Iowa.

Our Internship Culture

Join an established program that provides hands-on experiences for 200+ interns each year! You'll learn new skills with dedicated teams and mentors, build your professional network and collaborate across a global Fortune 500 company. We care about offering you diverse experiences and exciting challenges that push you to reach for bigger life goals, all while enjoying our flexibility and work life balance. Join us for events such as our Executive Speaker Series, gain career direction, and much more! https://www.principal.com/about-us/careers/internships

Hours

This is a Monday-Friday, 40 hours/week internship for the summer of 2026.

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 interns.

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

9/9/2025

Most Recently Posted Date

9/9/2025