Portfolio Management Associate - Data Center

What You'll Do

Join a high-performing team deploying capital in one of the fastest-growing real estate sectors - data centers. As a Portfolio Management Associate on our data center team, you'll play a key role in managing and growing a unique portfolio. In this role, you'll support the data center team and collaborate across the Principal ecosystem to ensure each data center investment meets its performance goals and aligns with broader strategy.

Additional key responsibilities:

• Asset Strategy & Performance: Help develop and execute annual asset business plans and budgets to meet or exceed income, appreciation, and occupancy targets. Monitor asset performance against underwriting and market benchmarks, flagging opportunities and risks to drive value.

• Transaction & Development Support: Assist in underwriting and executing new investments, development projects, and leasing transactions. Evaluate deal opportunities (including tenant credit and lease terms) to ensure they meet return targets and support the platform's growth.

• Financial Analysis & Reporting: Deliver timely, accurate asset valuations and investor reports, including variance analysis versus budgets. Maintain detailed financial models (e.g., DCF) to support decision-making and ensure current market assumptions are reflected.

• Stakeholder Collaboration: Coordinate closely with others across the team. Maintain relationships with joint venture partners, leasing brokers, and property managers, and work with internal teams (finance, legal, engineering, etc.) to ensure smooth execution of asset initiatives and client objectives.

Who You Are

• Bachelor's degree (Finance, Real Estate, Business, or related field).

• 2+ years of relevant experience in real estate investments or asset management (experience investing in or managing a real estate portfolio or data center portfolio).

• Strong financial modeling and analytical skills, with high proficiency in Excel (experience with Argus or similar tools a plus). Able to interpret leases/contracts and complex financial documents independently.

• Highly organized and detail-oriented, able to manage multiple priorities and meet deadlines in a fast-paced environment. Proactive and self-motivated problem solver with a continuous improvement mindset.

• Excellent communication and interpersonal skills. Comfortable collaborating across teams and presenting findings to stakeholders, including senior leaders. A team player who builds relationships and contributes to a positive, high-performance culture.

• Willingness to travel (~10%) to visit assets or meet partners as needed.

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 (Non-Exempt expressed as hourly; Exempt expressed as yearly)

$89300 - $152400 / year

Salary Details

The base salary range for this role is indicated below. Final compensation will be determined based on skills, experience, and alignment with the role's responsibilities.

In addition to base pay, this role participates in a bonus plan as well.

The following locations are examples of market-specific salary ranges across different geographies.

• Des Moines: $89,300 - $120,650 / year

• Chicago: $103,400 - $139,700 / year

• New York City: $112,800 - $152,400 / year

Time Off Program

Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don't accrue a bank of time off under FTO and there is no set number of days provided.

Pension Eligible

No

Location / Work Environment

We're open to candidates based out of our World Headquarters located in Des Moines or Chicago and New York City. This role offers the ability for in-office or four days in-office and one day remote.

Work Authorization/Sponsorship

At this time, we're not considering candidates 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.

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Investment Code of Ethics

For Principal Global Investors 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

While our expertise spans the globe, we're bound by one common purpose: to foster a world where financial security is accessible to all. And our success depends on the unique experiences, backgrounds, and talents of our employees - individually and all of us together. Explore our core values ( , benefits ( and why we're an exceptional place ( to grow your career.

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.

Original Posting Date

5/12/2026

Most Recently Posted Date

5/12/2026

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