Principal Real Estate Investors, the real estate investment arm of Principal Global Investors, is launching a new hotel investment capability, further enhancing its already strong investment platform in the traditional sectors of retail, office, multifamily and industrial.
"This is a significant development for us," said Pat Halter, CEO of Principal Real Estate Investors. "With demand for quality real estate far exceeding supply in the traditional sectors, we're seeing the need to find new investment alternatives for our clients. The hotel sector has been offering investors good current yields and strong long term internal rates of return, and we're excited about the ability to offer our clients a whole new array of attractive investments."
To spearhead its entry into the hotel investment sector, Principal Real Estate Investors has hired hotel investment veteran James E. Fitzgerald, who joins as managing director, hotel investments. Fitzgerald will develop and oversee all of the company's equity investment and debt financing activities in the hotel sector. "James has a wealth of experience in hotel investing and we're confident that with his leadership and his contacts, we will be well positioned to meet our clients' objectives." added Halter.
Fitzgerald comes to Principal Real Estate Investors from REH Capital Partners, a national investment and advisory services firm that specializes in the real estate and hospitality sectors, which he co-founded and where he served as executive vice president and chief investment officer. Fitzgerald has over 20 years experience in the hotel investment sector, including roles in hospitality consulting, corporate finance, and business development with KPMG, AIG, Omni Hotels and Marriott Corporation. Fitzgerald earned a BS in hotel administration from Cornell University.
Source: Principal
