Principal Real Estate is seeking highly motivated early-career professionals to join our Commercial Real Estate Rotational Analyst opportunity beginning in Summer 2027.

This unique program provides exposure to all four quadrants of commercial real estate investing: private equity, private debt, public equity (REITs), and public debt (CMBS). Through four rotations lasting approximately 6–9 months each, analysts will develop broad investment expertise, gain exposure to multiple investment strategies, and build a comprehensive understanding of the real estate investment management industry.

Rotations may include teams such as Acquisitions & Dispositions, Asset Management, Development, Private Debt Origination, CMBS, and REITs. Upon successful completion of the program, high-performing analysts may be considered for available long-term opportunities within Principal Real Estate.

Throughout the program, you will:

• Conduct Technical Analysis: Assist the team by conducting independent technical analyses within appropriate risk/return parameters on investment opportunities. This involves evaluating transaction structures, appraisals, cash flow analyses, lease reviews, financial statement reviews, and more.
• Effective Communication: Communicate conclusions regarding investment risk and viability effectively. Provide analytical support for assessing investment opportunities, utilizing sensitivity analysis, variance analysis, or preliminary valuations.
• Market Insight: Develop and maintain a comprehensive understanding of real estate economics, competitive environments, and existing portfolios within assigned markets.
• Transaction Management: Assist in navigating a transaction or investment through the entire process, utilizing all available resources. Ensure accurate and timely accumulation and dissemination of information.
• Continuous Learning: Develop an understanding of products, programs, and clients’ needs through available training programs and active involvement in ongoing investment activities.

This position will start in the summer of 2027.

• Bachelor's degree or equivalent, with a preference for degrees in finance, real estate, or a related field, to be obtained by the summer of 2027 for a start date of summer 2027
• Strong quantitative financial background and statistical proficiency, including a solid understanding of basic finance concepts such as the time value of money
• Real estate experience, whether through full-time employment or internships

Additional Preferred Skills and Experience:

• Minimum GPA 3.25
• Excellent communication and social skills
• Consistent track record to take initiative and work independently in a fast-paced environment, handling multiple requests with strict deadlines
• Familiarity with Argus software and other real estate specific analytical software
• Demonstrated ability to make effective decisions and achieve results without close supervision.
• Strong team collaboration skills
• Capability to read, interpret, and analyze real estate or loan-related documents

The role may involve minimal travel to meet with clients and/or inspect properties.

Location

This role will be based out of our World Headquarters located in Des Moines, IA. Check out our campus:

Work Environments

This role offers the ability for in-office or four days in-office and one day remote. You’ll work with your leader to figure out which option may align best based on several factors.

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 and 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 to learn more about our purpose, values and benefits.

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.