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Clarion Partners Real Estate Income Fund to commence tender offer in June
Clarion Partners Real Estate Income Fund’s (CPREIF) board of directors has approved a tender offer for up to 5 percent of the fund’s aggregate net asset value (NAV).
The offer is subject to the right to purchase additional shares representing up to 2 percent 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.
CPREIF plans to commence its tender offer around June 13, with the expiration of the tender offer currently expected to be July 14.
CPREIF is a non-diversified, closed-end management investment company, offering individual investors direct exposure to a high-quality portfolio of institutional-quality private real estate and real estate-related securities.
As of April 30, the fund had a NAV of $553.45 million.