Commercial Real Estate Extended Internship/Co-Op (January - August 2027)

What You'll Do We’re looking for a Commercial Real Estate intern to join our Principal Real Estate Servicing team for an extended internship/co-op for January - August 2027. In this fast-paced, constantly evolving environment, you will play a critical role in supporting your team, which is not only exciting, but the best way to learn. Through our comprehensive training program, you will acquire valuable industry knowledge while receiving tailored development opportunities preparing you for future advancement. What You’ll Do Perform property review (operating, financial, and market performance) of loans assigned and perform compliance tests for loan covenants. Analyze and interpret loan documents or legal contracts. Process loan payoffs, including payoff calculations and borrower communication. Organize and review various loan draws for construction and escrows. Develop knowledge of products, programs and clients’ needs through available training programs and involvement in investment activities. Principal Real Estate, a top-10 global real estate manager with around $100Billion in assets under management, is the dedicated real estate investment group within Principal Asset Management. With over 60 years of real estate investment experience, our comprehensive four quadrant approach (private equity, public equity, public debt, and private debt) gives us a unique perspective on real estate space and capital markets and enables us to deliver solutions to meet client investment goals. Who You Are Working towards or having a recent Bachelor’s degree or equivalent (preference for degrees in Finance, Real Estate, Business, or a related field) Strong quantitative financial and statistics background including an understanding of basic finance concepts Proficiency in Microsoft Excel, Word, and PowerPoint Highly motivated individual with a self-starter approach Excellent written and verbal communication and interpersonal skills Availability to work onsite (four days a week, one day remote) in Des Moines, IA for 40 hours/week from January - August 2027 Skills That Will Help You Stand Out Real estate experience (full time or internship experience, clubs or extracurriculars) Involvement in student organizations and other business-related extracurriculars Salary Range Information Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer. Salary Range $20 - $20 / hour Time Off Program Paid company holidays and any time off required in your state. Pension Eligible No Additional Information Our Internship Culture 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! https://www.principal.com/about-us/careers/internships Internship Stipend You will receive a lump sum stipend of $6,000. This amount is intended to support incidental expenses you may incur as part of your internship. The Company will provide a tax gross-up on this stipend as a financial benefit but is not intended to compensate for all tax liabilities. Hours This is a Monday-Friday, 40 hour/week internship beginning in January 2027 and ending in August 2027. Location & Work Environment This role will be located onsite in our Corporate headquarters in Des Moines, IA and the work arrangement is in-office Monday-Thursday with Friday being optional in-office or remote. 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 interns. Principal is an Equal Opportunity Employer All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status. 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. Date First Posted (TTF) 7/15/2026 Latest Post Date: Careers - US 7/15/2026