Principal Credit Real Estate Income Trust
12/31/2025 | Press release | Distributed by Public on 12/31/2025 14:27
Regulation FD Disclosure, Management Change/Compensation (Form 8-K)
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Compensatory Arrangements of Certain Officers
Effective December 31, 2025, Patricia Bailey resigned from her role as Chief Operating Officer of Principal Credit Real Estate Income Trust, a Maryland statutory trust (the "Company"). Ms. Bailey's resignation is in connection with her retirement from Principal Real Estate Investors, LLC, the Company's investment advisor (the "Adviser"), and was not due to any disagreement with the Company, the Adviser or any of their affiliates.
In connection with Ms. Bailey's resignation, effective December 31, 2025, the Board of Trustees of the Company has appointed Rajee Harris as Chief Business Officer of the Company.
Rajee Harris, 36, is the Chief Business Officer & Senior Managing Director of Private Investments for Principal Asset Management, which includes the Adviser, its dedicated real estate group. He is responsible for the Commercial Mortgage Servicing & Closing Teams, the Commercial Mortgage Engineering (Environmental & Structural) Team, the Commercial Appraisal Services (Debt & Equity Valuation) Team, the Asset Management Operations & ESG Team, the Real Estate Risk Management Team, and the Real Estate Intelligence and Data Strategy Team. He also works closely with the Information Technology and Data Science Teams.
Mr. Harris originally joined Principal Asset Management in 2012 in its legal department, serving as legal counsel for corporate mergers & acquisitions and private equity real estate. Prior to being elevated into his current role, Rajee was the Chief Operating Officer of the firm's Real Estate Operating Company ("REOC") Investments Team. From 2018 to 2021, he served as Managing Director at Partners Enterprise Capital, a Chicago-based private equity real estate firm that invests in and manages REOCs in the United States. Mr. Harris received a JD from Drake University Law School and an MBA and bachelor's degree in entrepreneurial management and marketing from Drake University.
There are no family relationships between Mr. Harris and any director or executive officer of the Company and there are no transactions between him and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
Item 7.01. Regulation FD Disclosure.
December 2025 Distribution
On December 31, 2025, the Company declared distributions for each class of its common shares of beneficial interest, par value $0.01 per share (the "Common Shares"), in the amount per share set forth below:
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Gross Distribution
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Shareholder
Servicing Fee
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Net Distribution
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Class A Common Shares
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$ | 0.1750 | $ | - | $ | 0.1750 | |||||||||||
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Class E Common Shares
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$ | 0.1750 | $ | - | $ | 0.1750 | |||||||||||
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Class F-I Common Shares
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$ | 0.1750 | $ | - | $ | 0.1750 | |||||||||||
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Class I Common Shares
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$ | 0.1750 | $ | - | $ | 0.1750 | |||||||||||
The gross distribution amount above reflects a distributionof $0.1350 per Common Share for the month of December and a special distribution of $0.0400 per Common Share. The net distribution for each class of Common Shares is payable to shareholders of record as of the close of business on December 31, 2025, and will be paid on or about January 20, 2026. These distributions will be paid in cash or reinvested in the applicable class of Common Share for shareholders participating in the Company's distribution reinvestment plan.
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