Principal Credit Real Estate Income Trust 8-K

What Happened

• The Company filed an 8-K reporting that Patricia Bailey resigned as Chief Operating Officer effective December 31, 2025, in connection with her retirement from the Adviser and not due to any disagreement. The Board appointed Rajee Harris as Chief Business Officer effective December 31, 2025.
• The 8-K also discloses a December 2025 distribution: the Company declared a gross distribution of $0.1750 per common share (includes $0.1350 for December plus a $0.0400 special distribution), payable on or about January 20, 2026 to holders of record as of December 31, 2025.

Key Details

• Officer change: Patricia Bailey resigned as COO effective 12/31/2025; Rajee Harris (age 36) appointed Chief Business Officer effective 12/31/2025.
• Rajee Harris background: Chief Business Officer & Senior Managing Director of Private Investments for Principal Asset Management; joined Principal in 2012; JD (Drake), MBA and BS (Drake). No family ties or reportable related-party transactions.
• Distribution: Gross $0.1750 per share for all classes (A, E, F‑I, I); no shareholder servicing fee; net $0.1750; record date 12/31/2025; payment/reinvestment on/about 1/20/2026.
• Filing items: Item 5.02 (officer departure/appointment) and Item 7.01 (Regulation FD disclosure re: distribution).

Why It Matters

• Management change: Investors should note a leadership transition at the Company level (COO retirement and new CBO appointment) that may affect operations or oversight of the Adviser-managed real estate portfolio, though the filing states the resignation was retirement-related and not a disagreement.
• Cash return: The declared $0.175/share distribution (including a $0.040 special distribution) is a concrete near-term cash event—relevant for income-focused shareholders and those enrolled in the reinvestment plan.