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CPREIF Clarion Partners Real Estate Income Fund

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CPREIF Clarion Partners Real Estate Income Fund CPREIF Clarion Partners Real Estate Income Fund INVESTMENT PRODUCTS: NOT FDIC INSURED. NO BANK GUARANTEE. MAY LOSE VALUE. Important Information Note: The impact of the outbreak of COVID-19 on the economy and the Fund's properties infectious disease, pandemic or any other serious public health concern, war, terrorism, labor and operations is highly uncertain. Valuations and incomes may change more rapidly and strikes and telecommunication failures). Some force majeure events may adversely affect the significantly than under standard market conditions. Please see additional information ability of a party (including an investment, a tenant of an investment, a customer of a tenant of an regarding the risks of investment and inherent subjectivity and assumptions of appraisals investment, a counterparty of an investment or a counterparty of a Clarion Vehicle) to perform its below. obligations until it is able to remedy the force majeure event. Such a party may also claim force majeure for nonperformance of its contract obligations. Certain force majeure events (such as an Business Disruption. Clarion’s investment vehicles (“Clarion Vehicles”) and their investments are outbreak of an infectious disease) could have a broader negative impact on the world economy vulnerable to damages from any number of sources, including computer viruses, unauthorized and international business activity generally, or in any of the countries in which a Clarion Vehicle access, energy blackouts, acts of God, fire, flood, earthquakes, outbreaks of an infectious may invest specifically. Additionally, a major governmental intervention into industry, including disease, pandemic or any other serious public health concern, war, terrorism, labor strikes and the assertion of control over an investment, could result in a loss to the applicable Clarion telecommunication failures. In December 2019, a novel strain of coronavirus was reported to Vehicle. Any of the foregoing would therefore adversely affect the performance of such Clarion have surfaced in Wuhan, China. As of March 2020, the outbreak has been declared to be a Vehicle and its investments. pandemic by the World Health Organization, and the Health and Human Services Secretary has declared a public health emergency in the United States in response to the outbreak. Many Uncertainty of Net Asset Values. The Net Asset Value of each Clarion Vehicle is based on countries, states, municipalities and other jurisdictions have instituted quarantines, curfews, appraisals that are inherently subjective in certain respects and rely on a variety of assumptions, prohibitions on travel and closure of offices, businesses, schools, retail stores and other public including assumptions about projected cash flows for the remaining holding periods for such venues, including certain infrastructure facilities. Businesses are also implementing similar investments. Furthermore, appraisals are based in large part on information as of the end of a precautionary measures. Such measures, as well as the general uncertainty surrounding the given calendar quarter, and market, property and other conditions may change materially dangers and impact of COVID-19, are creating significant disruption in supply chains and thereafter. Furthermore, real estate assets generally cannot be marked to an established market economic activity and are having a particularly adverse impact on transportation, hospitality, or readily tradable assets. Accordingly, such appraised values may not accurately reflect the tourism and entertainment, among other industries. As COVID-19 continues to spread, the actual market values of a Clarion Vehicle’s investments, and, thus, prospective investors and potential impacts, including a global, regional or other economic recession, are increasingly Limited Partners may make decisions as to whether to invest in or redeem Interests without uncertain and difficult to assess. Given the ongoing and dynamic nature of the circumstances, it complete and accurate valuation information. In particular, the outbreak of COVID-19 and the is difficult to predict the impact of the coronavirus outbreak. The extent to which the coronavirus economic impact arising from both the virus and actions taken to mitigate its spread may impact impacts a Clarion Vehicle’s results will depend on future developments, which are highly the value of a Clarion Vehicle’s assets and availability of debt, and the current appraisals may uncertain and cannot be predicted. These include: new information which may emerge not take such factors into account. concerning the severity of the coronavirus; the duration and spread of the outbreak; the actions to contain the coronavirus or treat its impact; its impact on our tenants, our tenants’ customers, Updates. Information in this presentation is as of the presentation date and is subject to further employees and vendors; and governmental, regulatory and private sector responses to the revision. coronavirus. A Clarion Vehicle’s financial condition and results of operations could be adversely affected, including such Clarion Vehicle’s ability to complete in-process real estate transactions Liquidity considerations and developments, to collect rent from existing tenants, to lease units in its properties to new tenants, to make distributions to investors or to satisfy redemption requests in a timely manner. The Fund should be viewed as a long-term investment, as it is inherently illiquid and In addition, the operations of Clarion, any Clarion Vehicle and its investments may be suitable only for investors who can bear the risks associated with the limited liquidity of significantly impacted, or even halted, either temporarily or on a long-term basis, as a result of the Fund. Limited liquidity is provided to shareholders only through the Fund's quarterly government quarantine and curfew measures, voluntary and precautionary restrictions on work, repurchase offers for no more than 5% of the Fund's shares outstanding at net asset travel or meetings and other factors related to a public health emergency, including its potential value. There is no guarantee these repurchases will occur as scheduled, or at all. Shares adverse impact on the health of any such entity’s personnel. will not be listed on a public exchange, and no secondary market is expected to develop. Force Majeure. The investments of any Clarion Vehicle may be affected by force majeure events (i.e., events beyond the control of the party claiming that the event has occurred, including, without limitation, energy blackouts, acts of God, fire, flood, earthquakes, outbreaks of an 2 CPREIF Overview CPREIF allows investors to gain direct exposure to a diversified portfolio of income-producing commercial real estate and real estate-related securities. Access Transparency Simplicity Direct investment in a portfolio of private commercial real estate and real estate related securities • Clarion’s institutional real estate investment expertise • A portfolio of institutional-quality commercial real estate investments1 • Attractive potential income and risk-adjusted returns An innovative, easy-to-use, continuously offered closed-end fund designed with the investor in mind • Simplified ownership in a client-friendly structure with quarterly share repurchases2 • Daily purchase • Low investment minimums • 1099 tax reporting • Daily valuation3 1” Institutional-quality real estate” refers to commercial real estate properties whose scale and balance sheet quality meet the standards typically applied by institutional investors. 2 The Fund will target quarterly repurchases of 5% of shares outstanding at Net Asset Value. 3 Daily valuation applies to the Fund itself, and not to the underlying properties, which are not priced daily. 3 The Benefits of Adding Real Estate to Your Portfolio 4 Potential benefits of private real estate in a portfolio 1 An Essential Asset Class Stable Income with Potential for 2 Capital Appreciation 3 Potential Tax Advantaged Income 5 An Essential Asset Class, Generating Income and Return U.S. commercial real estate, valued at $10.7 trillion 2 overall, is the third-largest asset class in the U.S. Durable Income after fixed income and equities and represents an Private real estate has provided investors with a relatively enormous investment opportunity. 90% of all U.S. stable and durable income stream and consistent returns in recent years, while helping diversify portfolio risk. commercial real estate is privately held.1 • Attractive yields in today’s near-zero-rate environment • Resilient cash flows backed by the long-term commercial lease contracts Capital Appreciation Private real estate’s offers the potential for capital gains as properties increase in value over time, driven by: • Property improvements • Capital restructuring, capital repositioning, or both • Market rent growth 1. Source: Securities Industry and Financial Markets Association, Urban Land Institute, NAREIT, NCREIF and Clarion Partners Investment Research. Annual data and estimates are as of December 31, 2018. U.S. commercial real estate includes private and public equity investments. Estimates are based on a comparison to U.S. debt and U.S. equity. U.S. debt includes corporate securities, asset-backed securities, Treasury debt, Federal agency debt including mortgage-backed securities, money market funds, and municipal bonds. U.S. equity is the total market value of publicly traded domestic companies. 2 Source: Clarion Partners Investment Research, NCREIF, REIT.com, S&P, Bloomberg.
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