Principal Real Estate Investors, Macquarie Create CMBS Partnership

Commercial

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Principal Real Estate Investors and Macquarie Group have jointly launched Principal Commercial Capital, a national lending platform that will both originate and securitize commercial mortgage loans.

The joint venture will leverage the strengths of both firms to help expand the company’s presence in the commercial mortgage-backed securities market, Margie Custis, managing director for Principal Real Estate Investors, said in a press release Monday.

Principal Real Estate Investors will source, underwrite, close and service the loans, while Macquarie will provide funding and capital markets expertise, according to the release. Both companies will be part of the platform management process.

Macquarie is a global provider of banking, financial, advisory, investment and funds management services that operates in more than 70 office locations in 28 countries and has assets under management of over $396 billion

Principal Real Estate Investors manages $53 billion in commercial real estate assets, according to the release.

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