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Clarion Partners Real Estate Income Fund Inc. (CPREIF) completes three strategic acquisitions

By on October 7, 2021 0

SAN MATEO, Calif .– (COMMERCIAL THREAD) – Clarion Partners Real Estate Income Fund Inc. (CPREIF) has strategically expanded its real estate portfolio with three diversification acquisitions: a multi-family property in Charlotte, North Carolina; an industrial property in North Las Vegas, NV; and a mixed-use property in a high traffic area of ​​downtown Austin, Texas. Clarion Partners, LLC (“Clarion Partners”), a leading real estate investment manager in the United States, is one of Franklin Templeton’s specialist investment managers.

The three properties, all ideally located within their growing markets, include:

Anker Haus (Charlotte, North Carolina)

  • A build-for-rental townhouse community of 49 units located in the heart of the city’s Plaza Midwood neighborhood, less than four miles east of downtown. Resilient net migration, high barriers to new supply, and strong job growth have positioned East Charlotte as a high growth submarket.

  • The project was conceived as a “pocket district”, on the model of a European village. Its units have modern finishes, with common amenities including a swimming pool with adjoining cabana, fitness center, grill area, and dog park.

Congressional Commons (Austin, Texas)

  • A mixed-use asset 100% leased to Accenture, one medical tenant and three service-oriented commercial tenants located along iconic Congress Avenue in downtown Austin.

  • The interior of the building features premium Class A finishes, and the location provides tenants with excellent walking accessibility to restaurants, entertainment and retail.

3828 Civic Center (North Las Vegas, NV)

  • A nearly 40,000 square foot Class A industrial building purchased under a sale-leaseback agreement with a well-capitalized logistics company to lease 50% of the building.

  • Located less than two miles east of Interstate 15 and approximately 14 miles north of McCarren International Airport, the site offers strong connectivity to the larger metropolitan area and potential for overnight delivery to more of 60 million people.

“Anker Haus and Congress Commons provide fund investors with exposure to high-growth, equipment-rich Sun Belt submarkets that are poised to expand further, ”said Onay Payne, Managing Director of Clarion Partners and Portfolio Manager CPREIF. “With the acquisition of the Civic Center, we also added exposure to a supply-constrained market in the West and the industrial sector – two areas where competition for properties has been particularly difficult. Clarion’s strong local market relationships were essential in identifying and closing this investment.

Richard Schaupp, Managing Director of Clarion Partners and CPREIF Portfolio Manager, added: “We are excited to grow and diversify the portfolio with these three new investments in different geographies and property types. As we continue to grow the fund’s real estate assets, we remain focused on deploying capital efficiently while serving CPREIF investors. ”

About Clarion Partners Real Estate Income Fund Inc. (CPREIF)

CPREIF offers individual investors direct access to a portfolio of income-generating private commercial real estate properties through an innovative investment fund driven by Clarion’s deep real estate expertise. CPREIF is a non-diversified management SICAV which permanently offers its ordinary shares. The fund’s investment manager, Legg Mason Partners Fund Advisor, LLC is an indirect wholly owned subsidiary of Franklin Resources, Inc. (“Franklin Resources”) and the fund’s investment sub-advisor, Clarion Partners, is an indirect subsidiary. majority owned. by Franklin Resources. In addition, the fund’s portfolio sub-advisor, Western Asset Management, is also an indirect wholly owned subsidiary of Franklin Resources. Hard copies of the fund’s complete audited financial statements are available free of charge upon request. More information about CPREIF is available at CPREIF.com.

About Clarion Partners

Clarion Partners, an SEC-registered investment adviser with FCA-authorized subsidiaries and members of FINRA, has been a leading real estate investment manager in the United States for over 39 years. Based in New York, the company has strategically located offices in the United States and Europe. With more than $ 63 billion in assets under management, Clarion Partners offers a wide range of real estate strategies covering the entire risk / return spectrum to its more than 500 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton’s mission is to help clients achieve better results through their investment management expertise, wealth management and technology solutions. Through its specialized investment managers, the Company brings extensive capabilities in equities, fixed income securities, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has more than 70 years of investment experience and more than $ 1.5 trillion in assets under management as of August 31, 2021. For more information, please visit franklinresources.com and follow us on LinkedIn, Twitter and Facebook.

Investment risks

The Fund is recently organized, with a limited trading history. An investment in the Fund involves a considerable level of risk. The Fund is designed primarily for long term investors, and an investment in the Fund should be considered illiquid. Shareholders may not be able to sell their Fund shares at all or at a favorable price. Fixed income securities involve interest rate, credit, inflation and reinvestment risks. When interest rates rise, the value of fixed income securities decreases. High yield bonds exhibit greater price volatility, greater illiquidity and the possibility of default. The Fund’s investments are heavily concentrated in real estate investments and will therefore be subject to the risks generally associated with real estate, including, but not limited to, local, state, national or international economic conditions; including market disruptions caused by regional concerns, political upheavals, sovereign debt crises and other factors. Asset-backed, mortgage-backed or mortgage-linked securities are subject to prepayment and extension risks. The Fund and / or its subsidiaries use leverage, which increases the volatility of investment returns and exposes the Fund to amplified losses if the value of an underlying fund’s investments decreases in value. The Fund may use derivatives, such as options and futures, which may be illiquid, may disproportionately increase losses and have a potentially significant impact on the performance of the Fund.

Liquidity considerations

The Fund should be viewed as a long term investment as it is inherently illiquid and suitable only for investors who can bear the risks associated with the limited liquidity of the Fund. Limited liquidity is provided to shareholders only through the Fund’s quarterly repurchase offers for a maximum of 5% of the outstanding Fund shares at net asset value. There is no guarantee that these redemptions will occur as expected, or not at all. The shares will not be listed on a stock exchange and no secondary market is expected to develop.

Before investing, carefully consider the investment objectives, risks, costs and expenses of a Fund. You can find this and other information in each prospectus, or summary prospectus, if available, at www.franklintempleton.com. Please read it carefully.

All investments involve risk, including loss of capital. Past performance is no guarantee of future results. Any information, statement or opinion presented in this document is of a general nature, is not intended for or based on the financial situation or needs of any particular investor, and does not constitute and should not be construed as advice in investment, a forecast of future events. , a guarantee of future results or a recommendation regarding a particular security or investment strategy or type of retirement account. Investors seeking financial advice regarding whether to invest in securities or investment strategies should consult their financial professional.

INVESTMENT PRODUCTS: NON FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

© 2021 Franklin Distributors, LLC, FINRA member, SIPC. Franklin Distributors, LLC, Clarion Partners, LLC and Legg Mason Partners Fund Advisor, LLC are all subsidiaries of Franklin Resources, Inc.

TN21-95-80



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