Today the firm celebrates the five-year
anniversary of Clarion Partners Real Estate Income Fund Inc.
Franklin Templeton and its specialist investment manager,
Clarion Partners, are today celebrating the five-year anniversary
of the Clarion Partners Real Estate Income Fund Inc. (CPREX), a
closed-end tender offer fund that provides individual investors
with access to institutional-quality private real estate. CPREX
invests in stable, well-leased, cash flow-producing properties in
U.S. markets with favorable growth prospects. Industrial warehouse,
rental housing and healthcare-related properties comprise 89% of
the portfolio.
The five-year milestone signifies Clarion’s commitment to
pursuing strategic investment opportunities in commercial real
estate even in today’s uncertain environment. Its positive outlook
for this asset class is driven by both near-term factors related to
moderating inflation, slightly lower interest rates and the
direction of certain capital market indicators, as well as
long-term trends related to demographics, innovation and shifting
globalization.
“Franklin Templeton and Clarion Partners are grateful for the
trust and confidence our many distribution partners, advisors, RIAs
and bankers have placed in CPREX,” said Dave Donahoo, Franklin
Templeton’s Head of Wealth Management-Alternatives. “By not
charging an incentive fee, similar to our institutional core
offering, we have more leverage flexibility and can deliver a
larger percentage of gross returns to our investors.”
“Thanks to our partners, we’ve continued to experience net
inflows during a period of slow real estate fundraising for the
sector as a whole. This has afforded us the ability to acquire new
properties during a wider cap rate environment, providing
diversification benefits and setting CPREX up to continue to
deliver against our investment mandate for the next five years,”
said Jeff Masom, Franklin Templeton’s Head of U.S.
Distribution.
Clarion Partners, CPREX’s sub-adviser, has been a leader in
building and managing private real estate portfolios for some of
the world’s largest institutional investors for over 40 years; it
has more than $74 billion in real estate assets under management as
of June 30, 2024.
“Since the fund’s inception in 2019, we’ve taken a disciplined
investment approach, grounded in in-depth research and focused on
constructing a portfolio for our investors that generates a balance
of income and long-term capital appreciation through investment in
real estate sectors and geographies that we believe are poised to
benefit the most from long-term macro-economic trends,” said CPREX
Portfolio Manager Rick Schaupp. “CPREX is designed to make
investments in both real estate private equity and private debt.
That positions us to be active investors regardless of where we are
in a market cycle.”
Growing interest in alternative investments
Clarion is part of Franklin Templeton’s alternatives business,
which spans a broad range of strategies, including real estate,
private credit, hedge funds and secondary private equity and
co-investments, amounting to approximately 16% of the firm’s $1.65
trillion in assets under management as of June 30, 2024.
There’s evidence of growing interest in alternative investments
among individual investors. While in 2016 there were $110.6 billion
in U.S. registered funds that invest in private equity, private
credit and real estate, that number has nearly tripled, growing to
$299.3 billion in 2023, according to Cerulli Associates.
“A confluence of events has helped fuel the adoption of
alternative investments, including volatility in public markets and
rising demand for returns that are uncorrelated with traditional
stocks and bonds,” said Franklin Templeton’s Donahoo. “Technology
and product innovation are making alternatives more adoptable and
accessible to wealth investors across the globe. Alternatives by
Franklin Templeton is uniquely positioned to be a leading solutions
provider as this trend accelerates, driven by our deep knowledge of
the wealth channel and strong line-up of managers.”
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 over $74 billion
in total real estate and debt assets under management, Clarion
Partners offers a broad range of real estate strategies across the
risk/return spectrum to 500 institutional investors across the
globe. Clarion is scaled in all major property types and was an
early entrant into the Industrial sector. The Firm’s global
industrial team manages a 1000+ property portfolio in the U.S. and
Europe consisting of more than 255 million square feet. For more
information visit 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 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
July 31, 2024. For more information, please visit
franklintempleton.com and follow us on LinkedIn, X and
Facebook.
BEFORE INVESTING, CAREFULLY CONSIDER A FUND’S INVESTMENT
OBJECTIVES, RISKS, CHARGES AND EXPENSES. YOU CAN FIND THIS AND
OTHER INFORMATION IN EACH PROSPECTUS, AND SUMMARY PROSPECTUS, IF
AVAILABLE, AT WWW.FRANKLINTEMPLETON.COM OR CONTACT YOUR FRANKLIN
TEMPLETON REPRESENTATIVE. PLEASE READ THE PROSPECTUS CAREFULLY
BEFORE INVESTING.
Investment Risks
Past performance is no guarantee of future results. All
investments involve risk, including loss of principal.
Diversification does not ensure against loss. An investment
should be considered long-term within a multi-asset portfolio and
should not be viewed individually as a complete investment program.
The Fund is subject to a high degree of risk; additional
risk considerations are listed below:
Liquidity Risks:
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 no more than 5% of the
Fund’s shares outstanding at net asset value. There is no guarantee
these repurchases will occur as scheduled, or at all.
Shareholders may not be able to sell their shares in the Fund at
all or at a favorable price.
Real Estate Investment Risks:
The Fund’s investments are highly concentrated in real estate
investments, and therefore will be subject to the risks typically
associated with real estate, including but not limited to
fluctuations in lease occupancy rates and operating expenses,
variations in rental schedules, which in turn may be adversely
affected by local, state, national or international economic
conditions. Such conditions may be impacted by the supply and
demand for real estate properties, zoning laws, rent control laws,
real property taxes, the availability and costs of financing, and
environmental laws.
Furthermore, investments in real estate are also impacted by
market disruptions caused by regional concerns, political
upheaval, sovereign debt crises, and uninsured losses (generally
from catastrophic events such as earthquakes, floods and wars).
Investments in real estate related securities, such as asset-backed
or mortgage-backed securities are subject to prepayment and
extension risks.
Private Market Investments Risks:
An investment in the Fund is suitable only for investors who can
bear the risks associated with private market investments (such as
private credit and private equity) with potential limited
liquidity. Shares will not be listed on a public exchange, and no
secondary market is expected to develop.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities
mentioned are Franklin Templeton affiliates companies Investment
Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE
VALUE.
©2024 Franklin Templeton. All rights reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20240930813645/en/
Franklin Templeton Corporate Communications: Lisa Tibbitts, +1
(904) 942-4451, lisa.tibbitts@franklintempleton.com
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