Principal Launches Small-Balance CRE Program

Principal Real Estate Investors, Des Moines, Iowa, has announced the introduction of Principal Commercial Mortgage Edge, a program designed to originate, securitize, and service small-balance commercial real estate loans on a national basis.The new operation, based in Dallas, will source, underwrite, and close loans ranging from $250,000 to $5 million and package them for securitization by Principal Commercial Funding II. "Through this program, we will be able to significantly diversify our borrower base and geographical coverage," said Kerry Studer, national sales director for Principal Commercial Mortgage Edge. "By targeting cities with populations of 25,000 or more within a five-mile radius and borrowers with one to five core properties, we will have access to a much larger number of borrowers in a wider range of real estate markets." Principal Real Estate Investors is the real estate group of Principal Global Investors, a member of the Principal Financial Group. Principal Financial can be found online at http://www.principal.com.