DENVER, Dec. 18,
2024 /PRNewswire/ - The Board of Trustees (the
"Board") of Principal Real Estate Income Fund (the "Fund"),
announced today that it has approved a renewal of the Fund's share
repurchase program. Under the share repurchase program, the Fund
may purchase up to approximately 2.1% of its outstanding common
shares beginning January 21, 2025, in
the open market, until January 21,
2026. As part of its evaluation of options to enhance
shareholder value, the Board has authorized ALPS Advisors, Inc.
(the "Advisor") to repurchase the Fund's common shares at such
times and in such amounts as the Advisor reasonably believes may
enhance shareholder value.
The Board and the Advisor continually analyze options to enhance
shareholder value and potentially reduce the discount between the
market price of the Fund's common share and the net asset value per
share ("NAV"). The Board and the Advisor believe that the share
repurchase program may further these goals because the program
allows the Fund to acquire its shares in the open market at a
discount to NAV, which will increase the NAV and thereby
benefit remaining shareholders while potentially providing
additional liquidity in the trading of the fund shares. The Board
will monitor the repurchase program and will continue to consider
strategic options to enhance shareholder value in the
long-term.
The Fund's repurchase program will be implemented on a
discretionary basis under the direction of the Advisor. There is no
assurance that the Fund will purchase shares at any specific
discount level or in any specific amount or that the market price
of the Fund's shares will increase as a result of any share
repurchases.
RISKS
An investment in the Fund is not appropriate for all
investors and is not intended to be a complete investment program.
The Fund is designed as a long-term investment and not as a trading
vehicle.
Investing in the Fund involves risks, including the risk that
you may receive little or no return on your investment or that you
may lose part or even all of your investment and exposure to
below-investment grade investments (i.e., "junk bonds"). The Fund's
net asset value will vary and its distribution rate may vary and
both may be affected by numerous factors, including changes in the
market spread over a specified benchmark, market interest rates and
performance of the broader equity markets. Fluctuations in net
asset value may be magnified as a result of the Fund's use of
leverage. Therefore, before investing you should carefully consider
the risks that you assume when you invest in the Fund's common
shares.
Securities backed by commercial real estate assets are
subject to market risks similar to those of direct ownership of
commercial real estate assets including, but not limited to,
declines in the value of real estate, declines in rental or
occupancy rates and risks related to general and local economic
conditions.
The Fund's investment objectives and policies are not
designed to seek to return the initial investment to investors that
purchase shares.
An investor should consider investment objectives, risks,
charges and expenses carefully before investing. To obtain an
annual report or semi-annual report which contains this and other
information visit www.principalcef.com or call 855.838.9485.
Please read them carefully before investing.
Shares of closed-end investment companies frequently trade at a discount from their net asset value and initial
offering prices.
NOT FDIC INSURED | May Lose Value | No Bank Guarantee
The Fund is a closed-end fund and does not continuously issue
shares for sale as open-end mutual funds do. Since the initial
public offering, the Fund now trades in the secondary market.
Investors wishing to buy or sell shares need to place orders
through an intermediary or broker. The share price of a closed-end
fund is based on the market's value.
ALPS Advisors, Inc. is the investment adviser to the
Fund.
Principal Real Estate Investors LLC is the investment
sub-adviser to the Fund. Principal Real Estate Investors LLC is not
affiliated with ALPS Advisors, Inc. or any of its
affiliates.
ALPS Portfolio Solutions Distributor, Inc. is the FINRA
Member firm.
About SS&C Technologies
SS&C is a global provider of services and software for the
financial services and healthcare industries. Founded in 1986,
SS&C is headquartered in Windsor,
Connecticut, and has offices around the world. Some 20,000
financial services and healthcare organizations, from the world's
largest companies to small and mid-market firms, rely on SS&C
for expertise, scale, and technology. Additional information about
SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
About SS&C ALPS Advisors
SS&C ALPS Advisors, a wholly-owned subsidiary of SS&C
Technologies, is a leading provider of investment products for
advisors and institutions. With over $26.24
billion under management as of September 30, 2024, SS&C ALPS Advisors is an
open architecture boutique investment manager offering portfolio
building blocks, active insight and an unwavering drive to guide
clients to investment outcomes across sustainable income, thematic
and alternative growth strategies. For more information, visit
www.alpsfunds.com.
About SS&C Technologies
Principal Real Estate Investors manages or sub-advises
$102 billion in commercial real
estate assets, as of September 30,
2024. The firm's real estate capabilities include both
public and private equity and debt investment alternatives.
Principal Real Estate Investors is the dedicated real estate group
of Principal Global Investors, a diversified asset management
organization and a member of the Principal Financial
Group®.
PRE000436 12/18/2025
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SOURCE Principal Real Estate Income Fund
