<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0002026448</cik>
        <entityName>Principal Credit Real Estate Income Trust</entityName>
        <issuerAddress>
            <street1>711 HIGH STREET</street1>
            <city>DES MOINES</city>
            <stateOrCountry>IA</stateOrCountry>
            <stateOrCountryDescription>IOWA</stateOrCountryDescription>
            <zipCode>50392</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>515-247-5111</issuerPhoneNumber>
        <jurisdictionOfInc>MARYLAND</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Statutory Trust</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2024</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>T.</middleName>
                <lastName>Berg</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chairman of the Board and Chief Executive Officer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Rohit</firstName>
                <lastName>Vohra</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Trustee and Head of Global Wealth Alternatives</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Christopher</firstName>
                <lastName>Duey</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brian</firstName>
                <lastName>Riley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Financial Officer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Rajee</firstName>
                <lastName>Harris</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Business Officer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kevin</firstName>
                <lastName>Catlett</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Head of Investment Production</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Anne</firstName>
                <lastName>Cook</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Counsel and Secretary</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kirloes</firstName>
                <lastName>Gerges</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Portfolio Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Troy</firstName>
                <middleName>W.</middleName>
                <lastName>Kort</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Portfolio Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrea</firstName>
                <lastName>Balkan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Independent Trustee</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Richard</firstName>
                <lastName>Jones</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Independent Trustee</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jennifer</firstName>
                <lastName>Pedigo</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>711 High Street</street1>
                <city>Des Moines</city>
                <stateOrCountry>IA</stateOrCountry>
                <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                <zipCode>50392</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Independent Trustee</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>REITS and Finance</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2026-01-27</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Gary Cutson</recipientName>
                <recipientCRDNumber>6119195</recipientCRDNumber>
                <associatedBDName>A5 Securities LLC</associatedBDName>
                <associatedBDCRDNumber>288410</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>375 West End Avenue Unit 10D</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10024</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>SC</state>
                    <description>SOUTH CAROLINA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Lauren Janian</recipientName>
                <recipientCRDNumber>7866057</recipientCRDNumber>
                <associatedBDName>A5 Securities LLC</associatedBDName>
                <associatedBDCRDNumber>288410</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>375 West End Avenue Unit 10D</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10024</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>SC</state>
                    <description>SOUTH CAROLINA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>75000</totalOfferingAmount>
            <totalAmountSold>74000</totalAmountSold>
            <totalRemaining>1000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>74</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>12000</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Principal Credit Real Estate Income Trust</issuerName>
                <signatureName>/s/ Anne R. Cook</signatureName>
                <nameOfSigner>Anne R. Cook</nameOfSigner>
                <signatureTitle>Counsel &amp; Secretary</signatureTitle>
                <signatureDate>2026-01-29</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
