BIG WIN: CalSTRS Awards REOC Mandate to Principal Real Estate

Posted on 04/12/2022

The California State Teachers’ Retirement System (CalSTRS) named Principal Real Estate Investors, a unit of Principal Financial Group, as an advisor on real estate operating company (REOC) investments. A real estate operating company is a publicly-traded company that actively invests in properties. Unlike real estate investment trusts (REITs), REOCs reinvest the money they earn back into their business and are subject to higher corporate taxes than REITs.

Principal Real Estate got awarded a $200 million mandate to form or acquire new REOC investments on behalf of CalSTRS in North America and Europe.

The manager will also provide oversight services on six existing CalSTRS REOC investments in the United States.

Keywords: California State Teachers Retirement System.

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