Principal Asset Management - Commercial Real Estate Intern (Summer 2027)

Firm Overview

Principal Real Estate ("PrinRE") is the dedicated real estate investment platform of Principal Asset Management, a subsidiary of Principal Financial Group (Nasdaq: PFG). With 65+ years of real estate investment experience, PrinRE manages a comprehensive platform spanning public equity, private equity, public debt, and private debt on behalf of institutional clients globally. More than 730 clients across 32 countries rely on the firm's integrated investment capabilities and local market expertise. As a top-10 global real estate investment manager, PrinRE employs more than 480 professionals across 12 countries and provides clients with diversified real estate solutions across asset classes and strategies.

Intern Responsibilities & Expectations

Principal Real Estate Investors is offering a high-impact internship opportunity for students interested in a career in commercial real estate investments. Interns will work alongside investment professionals as integral members of the investment team, contributing to live investment opportunities through underwriting, market research, investment analysis, portfolio strategy, and transaction execution across the firm. As a top-10 global real estate investment manager, Principal Real Estate offers interns exposure to a leading institutional real estate investment platform. Interns will participate in professional development opportunities, networking events, mentorship programs, and training sessions. Interns will gain exposure to live transactions throughout the internship while developing technical expertise through hands-on ARGUS Enterprise and advanced Excel modeling. The experience will conclude with a real-world investment opportunity case study, where interns apply underwriting, investment analysis, market research, collaboration and presentation skills. High-performing summer interns may also be considered for full-time employment opportunities upon graduation.

Interns will work with one of the dedicated teams listed below:

• Acquisitions & Dispositions: Interns will assist the team in evaluating acquisition opportunities through financial modeling, cash flow analysis, valuation, and investment underwriting using ARGUS and Excel, while supporting due diligence efforts and the assessment of prospective investments across all asset types.
• Asset Management & Development: Interns will support the team through financial analysis, budget and business plan reviews, portfolio reporting, market research, and property-level performance monitoring. Interns will also gain exposure to development underwriting, land and zoning due diligence, asset stabilization initiatives, and investor reporting spanning the entire real estate lifecycle.
• Private Debt Originations: Interns will support the underwriting and evaluation of commercial real estate debt investments through cash flow analysis, financial statement review, appraisal analysis, market research, and transaction due diligence. Responsibilities also include performing sensitivity and valuation analyses and assisting with materials required for loan underwriting and execution.

By the end of the internship, interns should expect to be prepared for an entry level analyst role. You will strengthen your understanding of real estate investment analysis, including how to evaluate property-level performance, assess market fundamentals, support due diligence efforts, and communicate investment recommendations.

Who You Are

• Working towards or have a bachelor's or graduate level degree in real estate, finance, accounting, economics, or a related field.
• Previous internship, coursework, or work experience related to 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
• 3.25 GPA or higher

Pay

$23 - $25 / hour

Schedule

Monday-Friday, 40 hours/week for the summer of 2027. The internship will be based at Principal's global headquarters in Des Moines, Iowa. The role is expected to be primarily in-person, with interns working in-office four days per week and coordinating with their leader regarding remote work flexibility based on business needs. Principal maintains a business casual dress code.

Benefits

Paid company holidays and any time off required in your state. Interns will participate in professional development opportunities, networking events, mentorship programs, and training sessions. 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.