Clarion Partners Real Estate Income Fund Inc. (CPREIF) Announces Tender Offer
May 22 2024 - 8:00AM
Business Wire
Clarion Partners Real Estate Income Fund Inc. (“CPREIF” or the
“Fund”), which offers Class S Shares (CPRSX), Class T Shares
(CPRTX), Class D Shares (CPRDX) and Class I Shares (CPREX),
announced today that the Fund’s Board of Directors has approved a
tender offer for up to 5.0% of the Fund’s aggregate net asset value
(“NAV”), subject to the right to purchase additional shares
representing up to 2.0% of the Fund’s NAV without amending or
extending the offer. The tender offer will be conducted at a price
equal to the Fund’s NAV per share of common stock on the day on
which the tender offer expires. The Fund intends to commence its
tender offer on or about June 13, 2024, with the expiration of the
tender offer currently expected to be July 15, 2024.
The tender offer will be made, and the stockholders of the Fund
will be notified, in accordance with the Securities Exchange Act of
1934, as amended, the Investment Company Act of 1940, as amended,
and other applicable rules and regulations. The tender offer
described in this announcement has not yet commenced. This
announcement is not an offer to purchase or a solicitation of an
offer to buy shares of the Fund. The tender offer will be made only
by an Offer to Purchase, a Repurchase Request Form, and related
documents. As soon as the tender offer commences, the Fund will
file a tender offer statement on Schedule TO with the SEC, which
will include an Offer to Purchase and related Repurchase Request
Form. STOCKHOLDERS OF THE FUND SHOULD READ THESE DOCUMENTS
BECAUSE THEY CONTAIN OR WILL CONTAIN THE TERMS OF THE TENDER
OFFER. Documents filed with the SEC are available to investors
for free at the SEC’s website (www.sec.gov).
CPREIF is a non-diversified, closed-end management investment
company that continuously offers its common stock. The Fund’s
investment manager, Franklin Templeton Fund Adviser, LLC (formerly
known as Legg Mason Partners Fund Advisor, LLC), is an indirect,
wholly owned subsidiary of Franklin Resources, Inc. (“Franklin
Resources”) and the Fund’s investment sub-adviser, Clarion
Partners, LLC (“Clarion Partners”), is an indirect, majority-owned
subsidiary of Franklin Resources. In addition, the Fund’s
securities sub-adviser, Western Asset Management Company, LLC
(“Western Asset”), also is an indirect wholly-owned subsidiary of
Franklin Resources.
Data and commentary provided in this press release are for
informational purposes only. Hard copies of the Fund’s complete
audited financial statements are available free of charge upon
request. For more information go to www.cprex.com.
THIS PRESS RELEASE IS NOT A PROSPECTUS, CIRCULAR OR
REPRESENTATION INTENDED FOR USE IN THE PURCHASE OR SALE OF FUND
SHARES. THIS PRESS RELEASE MAY CONTAIN STATEMENTS REGARDING PLANS
AND EXPECTATIONS FOR THE FUTURE THAT CONSTITUTE FORWARD-LOOKING
STATEMENTS WITHIN THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT ARE
FORWARD-LOOKING AND CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS
“MAY,” “WILL,” “EXPECT,” “ANTICIPATE,” “ESTIMATE,” “BELIEVE,”
“CONTINUE” OR OTHER SIMILAR WORDS. SUCH FORWARD-LOOKING STATEMENTS
ARE BASED ON THE FUND’S CURRENT PLANS AND EXPECTATIONS, AND ARE
SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS
TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING
STATEMENTS. ADDITIONAL INFORMATION CONCERNING SUCH RISKS AND
UNCERTAINTIES ARE CONTAINED IN THE FUND’S FILINGS WITH THE
SECURITIES AND EXCHANGE COMMISSION.
About Clarion Partners
Clarion Partners, an SEC registered investment adviser with
FCA-authorized and FINRA member affiliates, has been a leading U.S.
real estate investment manager for more than 40 years.
Headquartered in New York, the firm has offices in major markets
throughout the U.S. and Europe. With approximately $76.6 billion in
total assets under management as of December 31, 2023, Clarion
Partners offers a broad range of both debt and equity real estate
strategies across the risk/return spectrum to its more than 500
domestic and international institutional investors. More
information is available at www.clarionpartners.com.
About Western Asset
Western Asset is one of the world’s leading fixed-income
managers with 50 years of experience and $385.4 billion in assets
under management (AUM) as of March 31, 2024. With a focus on
long-term fundamental value investing that employs a top-down and
bottom-up approach, the firm has nine offices around the globe and
deep experience across the range of fixed income sectors. Founded
in 1971, Western Asset has been recognized for delivering superior
levels of client service alongside its approach emphasizing team
management and intensive proprietary research, supported by robust
risk management. To learn more about Western Asset, please visit
www.westernasset.com.
Western Asset is an independent specialist investment manager of
Franklin Templeton.
About Franklin Templeton
Franklin Resources, Inc. is a global investment management
organization with subsidiaries operating as Franklin Templeton and
serving clients in over 150 countries. Franklin Templeton’s mission
is to help clients achieve better outcomes through investment
management expertise, wealth management and technology solutions.
Through its specialist investment managers, the company offers
specialization on a global scale, bringing extensive capabilities
in fixed income, equity, alternatives and multi-asset solutions.
With more than 1,500 investment professionals, and offices in major
financial markets around the world, the California-based company
has over 75 years of investment experience and over $1.6 trillion
in assets under management as of April 30, 2024. For more
information, please visit franklintempleton.com and follow us on
LinkedIn, Twitter and Facebook.
Category: Fund Announcement
Source: Franklin Resources, Inc. Source: Legg Mason Closed End
Funds
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240522143243/en/
Clients: Franklin Templeton
FTAltsInquiries@franklintempleton.com Media:
Franklin Templeton Lisa Tibbitts +1 904-942-4451
Lisa.Tibbitts@franklintempleton.com
Investor Contact: Fund Investor Services 1-888-777-0102