# EDGAR Filing Document

**Accession Number:** 0002026448
**File Stem:** 0002026448-25-000058
**Filing Date:** 2025-6
**Character Count:** 7037
**Document Hash:** 261b8cfaf40f9fd1c68719c5261094a1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002026448-25-000058.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0002026448-25-000058

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20250627

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Regulation FD Disclosure

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Principal Credit Real Estate Income Trust
- **CENTRAL INDEX KEY:** 0002026448
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 993313328
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56670
- **FILM NUMBER:** 251092602

**BUSINESS ADDRESS:**
- **STREET 1:** 711 HIGH STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392
- **BUSINESS PHONE:** 515-247-5111

**MAIL ADDRESS:**
- **STREET 1:** 711 HIGH STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392

?xml version='1.0' encoding='ASCII'? pcrei-20250627

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): June 27, 2025**

**Principal Credit Real Estate Income Trust**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Maryland** | **000-56670** | **99-3313328** |
| (State or other jurisdiction <br>of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |

---

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| | |
|:---|:---|
| **711 High Street**<br>**Des Moines, Iowa** | **50392** |
| (Address of principal executive offices) | (Zip Code) |

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Registrant's telephone number, including area code: **(800**) **787-1621**

**Not Applicable**

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 1.01 Entry into a Material Definitive Agreement.** 

The information set forth under Item 2.03 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 1.01.

**Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.**

On June 27, 2025, PCREDIT Levered B, LLC (the "Seller"), an indirect, wholly-owned special-purpose financing subsidiary of Principal Credit Real Estate Income Trust, a Maryland statutory trust (the "Company"), entered into a Master Repurchase Agreement and Securities Contract (together with the related transaction documents, the "Repurchase Agreement"), with Citibank, N.A. ("Citi"), to finance the acquisition by the Seller of eligible loans as more particularly described in the Repurchase Agreement. The Repurchase Agreement provides for asset purchases by Citi for a maximum amount of $250 million.

Advances under the Repurchase Agreement accrue interest at a per annum rate equal to the Term SOFR (as defined in the Repurchase Agreement) for a one month period plus a margin as agreed upon by Citi and Seller for each transaction. The maturity date of the Facility is June 27, 2027, subject to an extension to a date in the future generally not to exceed the repurchase date of the last remaining eligible loan subject to the Repurchase Agreement, subject to satisfaction of certain customary conditions.

In connection with the Repurchase Agreement, the Company provided a Guaranty (the "Guaranty"), under which the Company guarantees up to a maximum liability of 25% of the then outstanding obligations of the Seller under the Repurchase Agreement. The Guaranty may become full recourse to the Company upon the occurrence of certain events as described in the Guaranty.

The Repurchase Agreement and the Guaranty contain representations, warranties, covenants, events of default and indemnities that are customary for agreements of their type.

**Item 7.01. Regulation FD Disclosure.**

**June 2025 Distribution**

On June 30, 2025, the Company declared distributions for each class of its common shares in the amount per share set forth below:

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| | | | |
|:---|:---|:---|:---|
| | **Gross Distribution** | **Shareholder** <br>**Servicing Fee** | **Net Distribution** |
| Class A Common Shares | $0.1350 | $– $| 0.1350 |
| Class F-I Common Shares | $0.1350 | $– $| 0.1350 |
| Class I Common Shares | $0.1350 | $– $| 0.1350 |
| Class E Common Shares | $0.1350 | $– $| 0.1350 |

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The gross distribution amount above reflects a distribution of $0.1350 per share for the month of June. The net distribution for each class of common shares is payable to shareholders of record as of the close of business on June 30, 2025, and will be paid on or about July 18, 2025. These distributions will be paid in cash or reinvested in shares of the Company's common shares for shareholders participating in the Company's distribution reinvestment plan.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| **Principal Credit Real Estate Income Trust** | **Principal Credit Real Estate Income Trust** | **Principal Credit Real Estate Income Trust** |
| By: | /s/ Brian Riley | /s/ Brian Riley |
|  | Name: | Brian Riley |
|  | Title: | Chief Financial Officer |
|  | Date: | June 30, 2025 |

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