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Managed Fund Since 2019
Alternatives
CPRDX Clarion Partners Real Estate Income Fund Inc.
- Access: Direct exposure in a commercial real estate portfolio.
- Simplicity: Innovative, easy-to-use solution designed with the investor in mind.
- Transparency: Daily valuation* and no incentive fee.
Popular Documents
Portfolio Occupancy
93.17%
As of 08/31/2026
Annualized Return Since Inception
7.86
As of 09/30/2026
* While the Fund is valued on a daily basis, redemptions are only offered quarterly and there is no guarantee that a shareholder will be able to sell all of their shares in the Fund that the shareholder desires to sell or at a favorable price.
Overview
Fund Facts
Fund description
Clarion Partners Real Estate Income Fund focuses on providing individual investors with direct exposure to a high-quality portfolio of income-producing private real estate and real estate related securities—leveraging Clarion's deep expertise in the field.
- Fund Inception Date
- 09/27/2019
- Total Assets
As of 08/31/2026 (Updated Monthly) - $1.79 Billion
- Total Net Assets
As of 09/30/2026 (Updated Monthly) - $1.60 Billion
- NAV
As of 10/08/2026 (Updated Daily) - $11.31
- Number of Investments
As of 08/31/2026 (Updated Monthly) - 49
- Leverage Ratio
As of 08/31/2026 (Updated Monthly) - 4.80%
Sales Charges, Expenses & Fees
As of 04/28/2026- Max Sales Load
- N/A
- Dealer Manager Fee
- N/A
- Distribution/Servicing Fees
- N/A
- Performance Fee
- —
- Advisory Fee
- 1.25%
- Other Expenses Net of Waived Fees
- 0.41%
Identifiers
- Fund Number
- 7182
- Ticker
- CPRDX
- CUSIP Code
- 180567307
Average Annual Total Returns As of 09/30/2026
Class D
- 5.89%1 Year
- 4.94%3 Years
- 5.47%5 Years
- —10 Years
- 7.86%Since Inception
09/27/2019
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Different minimums may apply to clients of certain service agents. See the Fund's prospectus for additional information.
Top Sectors
As of 08/31/2026 % of Gross Real Estate (Updated Monthly)
Industrial37.89% | |
Residential28.16% | |
Health Care22.32% | |
Necessity Retail4.79% | |
Mixed-Use3.69% |
Additional Fund Info
- Share Class Inception Date
- 09/27/2019
- Morningstar Category
3 - Direct Real Estate
- Lipper Classification
- Real Estate Funds
- NAV Frequency
- Daily
Key features of the fund
Differentiators
Direct real estate ownership
The Fund has direct investments in commercial real estate.
Easy-to-use, innovative structure
Daily valuation, target quarterly liquidityi, competitive fees and 1099 tax reporting.
Real estate expertise
Access to Clarion Partners real estate platform, tenured investment team and deep understanding of macro and fundamental real estate dynamics gained over many market cycles.
| Features | Clarion Partners Real Estate Income Fundii | Non-Traded REITs | |
|---|---|---|---|
Access | Direct exposure to a real estate portfolio | ||
| Broad Investor Suitabilityiii | |||
Simplicity | Electronic Ticketing | ||
| Limited Leverageiv | |||
| 1940-Act Registered Fundv | |||
Transparency | Daily Valuationvi | ||
| No Incentive Fee | |||
| No Dual Fee Layersvii |
About Clarion Partners
Access Now
Why private real estate
Learn MoreManager & insights
About the Team
Clarion Partners is one of the largest pure-play real estate investment managers offering a broad range of real estate strategies across the risk-return spectrum.
Commentary Highlights
June 30, 2026Access the latest commentary, performance review and market outlook in one place.
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Managed Fund Since 2019
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Managed Fund Since 2024
Latest Clarion Partners Insights
June 8, 2026
December 8, 2025
Featured Videos
Click on the video series below to explore more about the Fund and areas Clarion is currently focused on.
Why CPREX Now?
Where is CPREX focusing new investment activity?
Performance & Distributions
- Distribution Frequency
- MonthlyThis fund is an ex-Dividend fund
Rates and Yields
Distribution Rate
At Net Asset Value (NAV) 6.80%
Distributions Per Share
As of 09/30/2026
Clarion Partners Real Estate Income Fund (the Fund) paid out quarterly dividends since inception, September 2019 until March 2020. From April 2020 onwards the Fund has paid a monthly dividend.
Portfolio
Assets
As of08/31/2026 (Updated Monthly)
- Total Assets
- $1.79 Billion
- Total Net Assets
- $1.55 Billion
Positions
As of 08/31/2026 (Updated Monthly)
Number of Investments
- Fund
- 49
Portfolio Statistics
As of 08/31/2026 (Updated Monthly)
Portfolio Occupancy
- Fund
- 93.17%
- Fund
- 13.68%
- Fund
- 4.80%
Asset Allocation
As of 08/31/2026 % of NAV (Updated Monthly)
| Holdings | Fund |
|---|---|
Private Real Estate Equity | 64.00% |
Private Real Estate Debt | 20.42% |
Publicly-Traded Real Estate Securities | 15.58% |
Stay informed with the fund quarterly update
The quarterly webcasts featuring the Portfolio Managers of the Clarion Partners Real Estate Income Fund provide existing and prospective owners of the fund an opportunity to learn more about last quarter's performance, opportunities and risks in the real estate market as well as the team's forward looking view.
For financial professionals only.
Featured Properties
The Fund gives individual investors direct exposure to a portfolio of well-leased private real estate that balances potential income generation and attractive growth opportunities.
Central New Jersey IOS Portfolio
Source: Clarion Partners. Data as of March 31, 2026. This investment represents 2.9% of relative percentage of the holding of the entire portfolio (100%). Characteristics and holding weightings are based on total portfolio, are subject to change at any time, and are provided for informational purposes only. Not to be construed as a recommendation to purchase or sell any security. There can be no assurance that any unrealized investment described herein will prove to be profitable.
Crossroads Logistics Park
Source: Clarion Partners. Data as of March 31, 2026. This investment represents 1.3% of relative percentage of the holding of the entire portfolio (100%). Characteristics and holding weightings are based on total portfolio, are subject to change at any time, and are provided for informational purposes only. Not to be construed as a recommendation to purchase or sell any security. There can be no assurance that any unrealized investment described herein will prove to be profitable.
7th Street Station
Source: Clarion Partners. Data as of March 31, 2026. This investment represents 1.5% of relative percentage of the holding of the entire portfolio (100%). Characteristics and holding weightings are based on total portfolio, are subject to change at any time, and are provided for informational purposes only. Not to be construed as a recommendation to purchase or sell any security. There can be no assurance that any unrealized investment described herein will prove to be profitable.
Tax Information
Federal ID Number 83-3752825
For information on tax years prior to 2008, please contact usThese amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.
Distributions per Share ($)
Jan 30
Feb 27
Mar 28
Apr 29
May 29
Jun 27
Jul 30
Aug 28
Sep 29
Oct 30
Nov 26
Dec 30
Supplemental Tax Information
- Foreign Source Income
- —
- Foreign Source Qualified Dividends
- —
- Direct U.S. Government Obligations
- —
- Specified Private Activity Bond Interest
- —
- Dividends Received Deduction
- —
- Section 163(j)
- —
- Indiana Resident Taxable Income
- —
- Utah Resident Taxable Income
- —
Franklin Templeton and its specialized investment managers and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the promotion or marketing of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Each investor’s tax situation is different, and is based on an individual’s tax bracket, type of account used for investment and other factors. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
Documents
Fund Literature
Factsheet - Clarion Partners Real Estate Income Fund
Pitchbook - Clarion Partners Real Estate Income Fund
Snapshot - Clarion Partners Real Estate Income Fund
Product Commentary - Clarion Partners Real Estate Income Fund
Brochure - Clarion Partners Real Estate Income Fund Holdings Profile
Investor Guide - Opening the Doors to Private Real Estate
Clarion Calls What is private real estate investing
Clarion Calls: 2026 Insights - Positioning for What's Ahead
Clarion Calls: A new chapter for US private real estate
Flyer - Clarion Calls: Housing: Durable Demand Driving Performance
Flyer - Clarion Calls: Income is Evolving
Flyer - Clarion Calls: Industrial Outdoor Storage Provides Opportunity for Investors
Flyer - Clarion Calls: Private Real Estate Appears Undervalued
Flyer - Clarion Calls: Private Real Estate Dashboard
Flyer - Clarion Calls: Senior housing positioned for long term growth
Flyer - Clarion Calls: The Case for Industrial Real Estate
Flyer - Clarion Partners Real Estate Income Fund - Estimated Tender Offer Schedule
Flyer - Clarion Partners Real Estate Income Fund - Final Return of Capital
Flyer - CPREX Six years of positive performance
Flyer - CPREX: Resilient approach to PRE
Regulatory Documents
Annual Report - Clarion Partners Real Estate Income Fund
Semi-Annual Report - Clarion Partners Real Estate Income Fund
Prospectus - Clarion Partners Real Estate Income Fund
Statement of Additional Information - Clarion Partners Real Estate Income Fund
Fiscal Q1 Holdings - Clarion Partners Real Estate Income Fund
Fiscal Q3 Holdings - Clarion Partners Real Estate Income Fund
Clarion Partners Real Estate Income Fund Inc.
Ameriprise Letter
Clarion Partners Real Estate Income Fund Inc. Quarterly Repurchase Offer
Policy and Procedures - Audit Committee Charter
Policy and Procedures - Compensation Committee Charter
Policy and Procedures - Nominating Committee Charter February 2024
Press Releases
10/01/2026
10/01/2026
10/01/2026
10/01/2026
10/01/2026
08/31/2026
08/31/2026
08/31/2026
08/31/2026
08/31/2026
Knowledge Hub
Go to Knowlege Hub
Insight
US core real estate: signs a new cycle is emerging
Clarion believes that the US commercial real estate market is embarking on a new, more nuanced cycle where differentiated performance will be driven by property type and geography.
Course
Real estate
Earn CE credit while exploring the merits of allocating to both public and private real estate, and the role they can play in a client portfolio, including generating returns, increased income, diversification and inflation hedging.
Insight
Private Real Estate Dashboard 1Q 2026
Despite the recent surge in tariffs, Clarion believes the long-term drivers that have shaped the US industrial market over the past 15+ years should continue to drive growth within the industry and past cyclical uncertainty.
Insight
Clarion Calls: Private Real Estate Appears Undervalued
Although industrial property values have been impacted by the interest-rate driven correction that began in the second half of 2022, Clarion Partners is optimistic that values will stabilize in the year ahead as debt rates improve.
Connect with an expert
Your Franklin Templeton Private Markets Director can share insights about the Fund, discuss how the Fund can help you build a better portfolio and even guide you through the process of placing a trade at your firm.
Investor Services FAQ
How do I invest in CPREX?
CPREX is available for purchase through select financial advisors. Please contact your financial advisor for more information.
What paperwork do I need to fill out to invest?
This fund is available on the NSCC/Fund SERV platform. Investors should consult their financial advisor for investment instructions. Financial advisors can contact their back office for additional details.
Who do I contact if I have operational questions?
For any account related questions, please call 844-534-4627, Monday through Friday, between 9:00 am and 6:00 pm EST.
How can financial advisors locate documents?
Financial advisors can view client account information using their firm’s portal.
How can investors access documents?
Investors can locate account statements by accessing their financial intermediary’s investor portal.
Risks
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:
Limited liquidity is provided to shareholders only through the Fund’s quarterly repurchase offers for at least 5% of the Fund’s shares outstanding at net asset value. Although the Fund will conduct quarterly repurchase offers, there is no guarantee that a shareholder will be able to sell all of their shares in the Fund that the shareholder desires to sell 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.
Important Information
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
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Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Important data provider notices and terms available at www.franklintempletondatasources.com.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.
Footnotes
Key Features Footnotes
i. While the Fund is valued on a daily basis, redemptions are only offered quarterly and there is no guarantee that a shareholder will be able to sell all of their shares in the Fund that the shareholder desires to sell or at a favorable price.
ii. The Fund is a closed-end interval fund.
iii. Suitability limitations imposed by state regulators with respect to non-traded REITs.
iv. The 1940 Act limits fund leverage to 33 1/3% of total assets. The Fund may enter into investment management techniques that have similar effects as leverage, but which are not subject to the 33 1/3% limitation. Please see the prospectus for more information.
v. Registered under the Investment Company Act of 1940.
vi. A majority of non-traded REITs disseminate a monthly NAV.
vii. No additional underlying manager fees.