Magnolia Capital and Principal Global Investors-backed Principal Real Estate Investors to form a joint venture.

Magnolia Capital and Principal Global Investors-backed Principal Real Estate Investors, two real estate investment firms, agreed to form a joint venture. Financial terms are not disclosed. “Our core mission has always been centered around providing our residents with best-in-class service and a seamless end-to-end leasing and living experience. We are eager to leverage our longstanding single-family rental operating expertise and innovative proprietary technology on behalf of the partnership with the exceptional team at Principal,” Dan Bednyak, Magnolia Capital Managing Director.