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Principal Asset Management research.

Research published by Principal Asset Management, indexed and attributed by Global Real Estate Intelligence. We summarise briefly, credit the source, and link to the original.

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Principal Asset Managementreport

The growing role of capex in inflation dynamics

Quick take on the rising importance of capital expenditure, particularly AI-related investment, in shaping inflation dynamics.

EconomyCapital MarketsU.S. National
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Principal Asset Managementreport

CRE's recovery masks a widening divide

CRE recovery is intact, but widening dispersion across property types and markets underscores a K-shaped, more uneven path forward.

Capital MarketsOfficeRetailU.S. National
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Principal Asset Managementreport

2026 Mid-year Inside Real Estate outlook

Principal's mid-year house view argues the CRE recovery remains intact but uneven, with high conviction in data centers and residential, caution on life sciences, and an increasingly global portfolio approach.

Capital MarketsData CentersMultifamilyGlobalU.S. National
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Principal Asset Managementreport

Five forces shaping the data center investment landscape

Principal's research lays out five forces shaping data center investing, including whether demand reflects a durable structural trend or an AI bubble and why power availability is a binding constraint.

Data CentersU.S. NationalGlobal
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Principal Asset Managementreport

Headline ODCE returns mask a selection-driven cycle

Principal's research on ODCE fund performance shows a selection-driven cycle, with top-quartile U.S. funds returning 5.9% annualized versus 0.1% for the bottom quartile and European funds leading on capital appreciation.

Capital MarketsREITsU.S. NationalEurope
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Principal Asset Managementreport

Where real estate meets infrastructure: The evolution of data center investing

Examines how data centers blend real estate and infrastructure characteristics, assessing demand sustainability, power constraints, and why high-quality, power-secured assets remain strategically compelling.

Data CentersAlternativesU.S. NationalGlobal
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Principal Asset Managementreport

2026 Inside Real Estate Outlook: A Cycle for Selectivity

Principal characterized the CRE cycle as having moved into recovery with returns diverging sharply across sectors, regions and strategies, signaling an alpha-driven environment requiring careful asset and market selection.

Capital MarketsOfficeIndustrial & LogisticsU.S. NationalGlobal
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Principal Asset Managementreport

2025 Mid-Year Update: Inside Real Estate Outlook

Principal reported commercial real estate in its strongest position in three years, with private-market pricing likely having reached its trough and operating income supporting an investment performance rebound.

Capital MarketsOfficeIndustrial & LogisticsU.S. NationalGlobal
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Principal Asset Managementreport

U.S. Real Estate Sector Report

The sector report found data centers demonstrating the strongest fundamentals across property types, supported by structural demand from cloud computing and artificial intelligence, with development constrained primarily by power availability.

Data CentersIndustrial & LogisticsOfficeU.S. National
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Principal Asset Managementreport

2025 Inside Real Estate Outlook: Poised for Growth

Principal viewed real estate values as largely adjusted for the cycle, with debt among its highest conviction strategies and structurally-driven sectors such as data centers, logistics and residential well positioned for 2025.

Capital MarketsOfficeIndustrial & LogisticsU.S. NationalGlobal
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Global Real Estate Intelligence is a neutral index of publicly available research. All rights in Principal Asset Management’s work remain with Principal Asset Management; we link to the original.