Clarion Partners Real Estate Income Fund Inc. Class S Shares (CPRSX), Class T Shares (CPRTX), Class D Shares (CPRDX) and Class I Shares (CPREX) Announces Results of Tender Offer
Clarion Partners Real Estate Income Fund Inc. (“CPREIF” or the “Fund”) announced today the results of its issuer tender offer for up to 5.0% of the Fund’s aggregate net asset value (“NAV”), or $2.27 million, at a price per share equal to the net asset value per share of each class of common stock (a “Share”), as of July 16, 2020, the date on which the tender offer expired (the “Expiration Date”).
A total of 63.508 Shares were duly tendered and not withdrawn. The purchase price of properly tendered Shares was $9.78, $9.77, $9.79 and $9.78 per Share for Class S Shares, Class T Shares, Class D Shares and Class I Shares, respectively, the respective net asset value per Share as of the close of the trading session on the New York Stock Exchange on the Expiration Date. The Fund expects to transmit payment to purchase the duly tendered and accepted Shares on or about July 20, 2020. Shares that were tendered but not accepted for payment, if applicable, and Shares that were not tendered will remain outstanding. The Fund intends, but is not obligated, to conduct quarterly tender offers for up to 5.0% of the aggregate NAV of its common stock then outstanding as of the applicable valuation date. Repurchases will be made at such times and on such terms as may be determined by the Fund’s Board of Directors, in its sole discretion. However, no assurance can be given that repurchases will occur or that any common stock properly tendered will be repurchased by the Fund.
Any questions about the tender offer should be directed to 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 Legg Mason Partners Fund Advisor, LLC (LMPFA), a wholly-owned subsidiary of Legg Mason, Inc., and is sub-advised by Clarion Partners, LLC (Clarion Partners), an affiliate of LMPFA. Western Asset Management Company, LLC (Western Asset Management), an affiliate of LMPFA and Clarion Partners, is the fund’s securities sub-adviser. 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.cpreif.com.
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