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Since 1982 The Principal U.S. Property Account has been offered to clients as an open-end, commingled real estate fund sponsored by Principal Life Insurance Company. The Principal U.S. Property Account is designed to have a low to moderate risk profile compared to other open-end real estate funds, with a well-diversified portfolio consisting primarily of higher quality, well leased properties in the multi-family, industrial, office, and retail sectors. The Principal U.S. Property Account is managed by Principal Real Estate Investors, an SEC-registered investment adviser with over 243 investment professionals managing over $45.3 billion in commercial real estate assets.

The Principal U.S. Property Account is a commingled separate account managed by Principal Real Estate Investors, LLC, and which is maintained by Principal Life Insurance Company as the Principal U.S. Property Separate Account. It is available through group annuity contracts of Principal Life Insurance Company.