The Adviser supervises the investments of the Fund pursuant to an Investment Advisory Agreement. Very Good. The Trustees determined that the management fee and net expense ratiowere higher than some, but not all, of the comparable funds and the peer group averages. Although we have verified the accuracy of this link from our website to a third party website, the content of the web pages may change without notice. GS Infrastructure Partners (GSIP- Goldman Sachs) Good. To read this full article you need to be subscribed to Newsline. Based upon all of the foregoing considerations, the Board of Trustees, including a majority of the Independent Trustees, approved the continuation of the Investment Sub-Advisory Agreement with CenterSquare. At a meeting of the Funds Board of Trustees on June 21, 2016, the Trustees approved the continuation of the Investment Sub-Advisory Agreement for a one-year term. Previously, Dr. Anderson held several senior executive positions at Bluerock Real Estate LLC., including founding partner of the Bluerock Total Income + Real Estate Fund where he was the portfolio manager. Global Wealth Conferences - SWFI Event Series. Clarion to acquire Crow Holdings for $1.5 billion The fund seeks to own, develop, manage and strategically sell industrial warehouse properties and land in 25 U.S. markets. Gabriel Cantu - Argosy Real Estate Partners The Adviser will provide conspicuously displayed information in its Disclosure Document summarizing this proxy voting policy and procedures, including a statement that the Clients and Investors may request information regarding how the Adviser voted a Clients Proxies, and that the Clients and Investors may request a copy of these policies and procedures. Effective November 16, 2016, Class M Shares of the Fund commenced operations. Form D contains basic information about the offering and the company. A fund or portfolio may differ significantly from the securities included in the index. The registrants audit committee has considered whether the provision of non-audit services to the registrants investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant, that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, is compatible with maintaining the principal accountants independence. Trustees Consideration and Approval of continuation of Sub-Advisory Agreement with CenterSquare. Additionally, Mr. Propper serves as Vice President, Product Development of Griffin Capital Corporation, a position he has held since joining Griffin Capital Corporation in 2014. Diversification does not eliminate the risk of experiencing investment losses. Average borrowings and the average interest rate for the days the BNP line of credit was outstanding during the year ended September30, 2016 were $26,229,249 and 1.54%, respectively. In considering whether to approve the Investment Sub-Advisory Agreement, the Trustees reviewed and considered the information they deemed reasonably necessary, including the following material factors: (i) the nature, extent, and quality of the services provided by CenterSquare; (ii) theinvestment performance of the Fund and CenterSquare; (iii) the costs of the services provided and profits realized by CenterSquare and its affiliates from the relationship with the Fund; (iv) the extent to which economies of scale would be realized as the Fund grows and whether advisory fee levels reflect those economies of scale for the benefit of the Funds investors; (v) CenterSquares practices regarding brokerage and portfolio transactions; and (vi) CenterSquares practices regarding possible conflicts of interest. The Clients are permitted to place reasonable restrictions on the Advisers voting authority; Non-discretionary Clients may elect to retain full discretion regarding Proxies. LION INDUSTRIAL TRUST Clarion Partners, LLC. Partners is more than a word in our name. Investors should consider their investment objectives, and it is strongly suggested that the reader seek his or her own independent advice in relation to any investment, financial, legal, tax, accounting or regulatory risks and evaluate their own risk tolerance before investing. In considering the costs of the services to be provided and profits to be realized by CenterSquare and its affiliates from the relationship with the Fund, the Trustees evaluated CenterSquares staffing, personnel, and methods of operating; the education and experience of CenterSquares personnel; CenterSquares compliance programs, policies, and procedures; the financial condition of CenterSquare; the level of commitment to the Fund and CenterSquare by the principals of CenterSquare; the current and projected asset levels of the Fund; and the overall expenses of the Fund, including the nature and frequency of advisory fee payments. Borrowings under the BNP arrangement bear interest at the 3 month LIBOR plus 95 basis points at the time of borrowing. We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. The Investment Committee is responsible for ensuring that the decision is communicated to the Portfolio Manager promptly. Certifications required by Item 12(a)(2) of Form N-CSR are filed herewith as Exhibit 99.CERT. There is no guarantee that shareholders will be able to sell all of the shares they desire in a quarterly repurchase offer. The agreement can be extended at the discretion of the Adviser and the Trustees. Past performance does not guarantee future results. Audit Committee Financial Expert. The Trustees reviewed the balance sheet of the Adviser and discussed the financial stability and profitability of the firm. The result of those repurchase offers were as follows: Subsequent events after the date of the Statement of Assets and Liabilities have been evaluated through the date the financial statements were issued. ORGANISATIONAL UPDATES On July 31, 2020, Franklin Resources, Inc. acquired Legg Mason, Inc. and its specialist investment managers for $6.5 . The cost of purchases and proceeds from the sale of securities, other than short-term securities, for the year ended September 30, 2016 were as follows: Distributions are determined in accordance with federal income tax regulations, which differ from GAAP, and, therefore, may differ significantly in amount or character from net investment income and realized gains for financial reporting purposes. If you want to remain at this site, select the DECLINE button. U.S. The Fund's Class I shares commenced operations on August 10, 2015. Information concerning the Trustees and officers of the Fund is set forth below. James Hendricks - Managing Director @ Clarion Partners - CrunchBase Core Partners ("CBRE Core Fund") is an open-end core fund that purchases and operates high-quality, income-producing office, industrial, . Griffin Institutional Access Real Estate Fund Class C, Net increase/(decrease) in net asset value, Griffin Institutional Access Real Estate Fund Class I. Upload your latest press release or suggest a story idea to our editorial team. Average borrowings and the average interest rate for the days the Credit Suisse line of credit was outstanding during the year ended September 30, 2016 were $41,831,967 and 3.17%, respectively. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. Fully integrated OEM electric trucks (chassis, cabin & batteries) Clarion Lion Industrial Trust, managed by Clarion Partners, seeks to own, develop, manage and strategically sell industrial warehouse properties and land in 25 U.S. markets. SEC form, multiple filers or classes of filers, and much more.***. Lion Industrial Trust - Company Profile and News Each voting member of the Investment Committee, including the President of the Adviser, will provide a written certification that he is not subject to conflicts of interest regarding the Underlying Fund or the subject of the Proxy, and document that persons proxy voting recommendation. The Fund pursues its investment objective by strategically investing across private institutional real estate investment funds as well as a diversified set of public real estate securities. Arkansas Public Employees backs Carlyle, Clarion and Principal open Shareholders should not assume that the source of a distribution from the Fund is net profit. Clarion Lion Properties Fund, L.P. Overview Fund Type: real estate Private Fund ID: 805-4715412151 Fund Manager: Clarion Partners (Crd# 108803) Registered Location: Delaware, United States Total Assets: $10 billion Minimum Investment: $0 The Fund has entered into a Distribution Agreement with ALPS Distributors, Inc. (the Distributor) to provide distribution services to the Fund. Investment return and value of the Fund shares will fluctuate so that an investors shares, when sold or redeemed, may be worth more or less than their original cost. ILC is a joint venture between Taylor & Mathis and Lion Industrial Trust, a private REIT managed by Clarion Partners. The Lion8 is an all-electric urban truck, which combines power, comfort and modern technology. Spencer Propper Mr. Propper serves as Vice President of Griffin Capital Advisor, LLC and Associate Portfolio Manager of Griffin Institutional Access Real Estate Fund. The firm last filed a Form D notice of exempt offering of securities on 2022-12-30. The Portfolio Manager is responsible for coordinating this process in a timely and appropriate manner and delivering the Proxy to the Underlying Fund prior to the deadline. In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. As of October 3, 2016 the private securities represent over $139 billion of real estate and 2,196 investments diversified by sector, geography and manager. Youll receive updates on upcoming events, special The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets and other characteristics particular to the security. Without the waiver the expenses would be 2.68%, 3.43% and 2.43% for Class A, Class C and Class I, respectively. Performance may be lower or higher than performance data quoted. publication offers and more. Lion Industrial Trust is based out of New York. Management has reviewed the tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken in the Funds 2014 and2015 returns or expected to be taken in the Funds 2016 returns. We are not responsible for the content, views, or privacy policies of the third party website. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. San Jose (Calif.) Police & Fire Department Retirement Plan committed $19 million to Clarion Lion Industrial Trust. A positive correlation of 1 implies that as one security moves, either up or down, the other security will move in lockstep, in the same direction. These financial statements and financial highlights are the responsibility of the Funds management. Status Refresh. The Funds investment adviser has contractually agreed to waive its fees and to pay or absorb the ordinary annual operating expenses of the Fund (including offering expenses, but excluding taxes, interest, brokerage commissions, acquired fund fees and expenses and extraordinary expenses), to the extent that they exceed 1.91%, 2.66% and 1.66% per annum of the Funds average daily net assets attributable to Class A, Class C and Class I shares, respectively. All returns reflect reinvested dividends, but do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is no guarantee of future results. The Alameda County (Calif.) Employees Retirement Association (ACERA) has approved an additional investment of up to $35 million in Clarion Partners Lion Industrial Trust. The Trustees also noted that AHICs fee, combined with the Advisers fee, were similar to the management fees for funds with similar investment strategies. You are leaving www.clarionpartners.com and being directed to a new site. Allocation, Sector, and Geographic Diversification are subject to change. The CCO has responsibility for implementation and monitoring of the Advisers proxy voting policy, practices, disclosures and record keeping, including outlining voting guidelines in its procedures. PDF Office of the State Treasurer Summary of Responses to Request for - ct Under the Shareholder Services Plan, the Class A and Class C shares may pay up to 0.25% per year of their average daily net assets for such services. Clarion Partners LLC 5 years 5 months Senior Vice President -. S&P 500 (Stocks), The MSCI US REIT Index (Publicly Traded Real Estate). During the year ended September 30, 2016, the Fund incurred $310,030 of interest expense related to the unused amount. New York NY 69. The Fund invests primarily in big-box warehouse and distribution . Learn about our approachView our case studies, Read about our approach to asset management. San Jose Police and Fire funds back the Clarion Lion Industrial Trust Clarion-Lion Industrial Trust PFM Yes No Clay Hill, LLC (CT Horizon Legacy Fund, L.P.) PFM Yes Yes Muller & Monroe Asset Management, LLC was paid $50,000 in connection with management services. The Fund is considered an investment company for financial reporting purposes under GAAP. Any specific investment referenced may or may not be held in a Clarion Partners client account. LION INDUSTRIAL TRUST - Clarion Partners, LLC Trademark Registration Two institutional funds for the police and fire departments of the city of San Jose have backed the Clarion Lion Industrial Trust, a core real estate fund managed by Clarion Partners. Class C and Class I shares are offered at net asset value. If the outcome that might result from a proxy solicitation could cause any Non- discretionary Client to fall out of compliance with its Investment Guidelines, the Adviser shall consult each such Non-discretionary Client prior to voting the proxy and shall take direction from such Non-discretionary Client, in the form of a completed Exhibit B, as to how to vote the proxy.
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