Clarion Partners Real Estate Income Fund Inc. Announces Results of Tender Offer
April 18 2024 - 8:00AM
Business Wire
Clarion Partners Real Estate Income Fund Inc. (“CPREIF” or the
“Fund”) Class S Shares (CPRSX), Class T Shares
(CPRTX), Class D Shares (CPRDX) and Class I Shares
(CPREX) announced today the results of its issuer tender offer
for up to 5.0% of the Fund’s aggregate net asset value (“NAV”), or
$33.8 million (calculated as of the NAV as of March 4, 2024), at a
price per share equal to the NAV per share of each class of common
stock (a “Share”) as of the close of the trading session on the New
York Stock Exchange on April 15, 2024, the date on which the tender
offer expired (the “Expiration Date”).
Information relating to the results of the issuer tender offer
is set forth below.
Class of Shares Tendered
Ticker
Shares Tendered for Repurchase and not
Withdrawn
Purchase Price as of Expiration
Date
Pro Ration (if any)
Class S
CPRSX
-
$11.84
N/A
Class T
CPRTX
162,301.759
$11.83
N/A
Class D
CPRDX
23,761.753
$11.84
N/A
Class I
CPREX
756,327.487
$11.85
N/A
The tendered Shares represent 1.65% of the Fund’s NAV calculated
as of March 4, 2024. The Fund has transmitted payment to purchase
the duly tendered and accepted Shares on or about April 17, 2024.
Shares that were tendered but not accepted for payment, if
applicable, and Shares that were not tendered will remain
outstanding.
Any questions about the tender offer should be directed to
SS&C Global Investor & Distribution Solutions, Inc.
(formerly SS&C Technologies, Inc.), the Information Agent for
the tender offer, toll free at (844) 534-4627.
CPREIF is a non-diversified, closed-end management investment
company that continuously offers its common stock. The Fund is
managed by Franklin Templeton Fund Adviser, LLC (formerly known as
Legg Mason Partners Fund Advisor, LLC), an indirect, wholly owned
subsidiary of Franklin Resources, Inc. (“Franklin Resources”) and
is sub-advised by Clarion Partners, LLC, an indirect,
majority-owned subsidiary of Franklin Resources and by Western
Asset Management Company, LLC, 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 on CPREIF, 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 (THE “SEC”).
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 maintains strategically located
offices across the United States and Europe. With approximately
$76.6 billion in total assets under management as of December 31,
2023, Clarion Partners offers a broad range of real estate
strategies across the 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 Western Asset
Western Asset is one of the world’s leading fixed-income
managers with 50 years of experience and $388.9 billion in assets
under management (AUM) as of December 31, 2023. 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.
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 March 31, 2024. For more
information, please visit franklintempleton.com.
Category: Fund Announcement
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
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Clients: Franklin Templeton
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Media: Franklin Templeton Lisa Tibbitts +1
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