Clarion Partners offers investment options in both commingled fund and separate account formats for institutional investors. The Adviser maintains written policies and procedures as to the handling, voting and reporting of proxy voting and makes appropriate disclosures about the Advisers proxy policies and practices and the availability of the Advisers proxy voting record. (Certification provided in Exhibit A.) Official MapQuest website, find driving directions, maps, live traffic updates and road conditions. to see more advanced email alert options such as selecting any type of Find nearby businesses, restaurants and hotels. ***Log In or Fair valuation procedures may be used to value a substantial portion of the assets of the Fund. Redemption price per share may be reduced for any applicable contingent deferred sales charge. Get the full list, Morningstar Institutional Equity Research. SEC.gov | HOME Clarion Partners (Real Estate - North America) | Asset manager Partners is more than a word in our name. In considering AHICs practices regarding conflicts of interest, the Trustees evaluated the potential for conflicts of interest and considered such matters as the experience and ability of the advisory personnel assigned to the Fund; the basis of decisions to buy or sell securities for the Fund and AHICs other accounts; the method for bunching of portfolio securities transactions; and the substance and administration of AHICs code of ethics. No services described in paragraphs (b) through (d) of Item 4 of this report were approved by the registrants audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. DST Systems, Inc. serves as transfer, dividend paying and shareholder servicing agent for the Fund (the Transfer Agent). Diversification does not eliminate the risk of experiencing investment losses. We have strategically shifted the portfolio composition in favor of managers whom we believe are best poised to deliver outsized growth of key operating metrics. Property Brochure. It should not be assumed that any investment will be profitable or will equal the performance of the fund(s) or any securities or any sectors mentioned herein. The 10-year loan will be used to retire the existing debt on a seven-property, five-million-square-foot industrial portfolio that includes two assets in San Bernardino, California; four in Dallas, Texas; and one in Southaven, Mississippi. Item 10. 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. CenterSquares team of REIT experts has been a trusted advisor to endowments, pension plans and corporate clients. Portfolio turnover rate for periods less than one full year have not been annualized and is calculated at the Fund level. All rights reserved. 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. The Adviser will maintain a record of the analysis of any potential conflict of interest and its resolution. The voting rights of the Clients, as holders of interests in Underlying Funds, are generally contract rights set out in the organizational documents (e.g., the limited partnership agreement, limited liability company agreement, memorandum and articles of association of the Underlying Funds). For more information on the differences in share classes, refer to the applicable prospectus, which can be found at: https://www.griffincapital.com/griffin-institutional-access-real-estate-fund/forms-and-literature. Clarion Partners Location New York, New York, United States Regions Greater New York Area, East Coast, Northeastern US Gender Male Website www.clarionpartners.com/ Jim Hendricks, equity owner and Managing Director, is the Chief Executive Officer for the Firm's largest industrial portfolio and head of Clarion Partners' Industrial Property Group. Youll receive updates on upcoming events, special Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. Randy I. Anderson Ph.D. CRE Dr. Anderson serves as Chief Investment Officer of our advisor and Portfolio Manager of Griffin Institutional Access Real Estate Fund. Principal Accountant Fees and Services. All or a portion of a distribution may consist solely of a return of capital (i.e. Private real estate fund dry powder is still above long-term averages as investors seek high quality, income-producing assets. We believe Clarion's partnership culture, compensation system, and entrepreneurial spirit clearly differentiate us from our competition. As of the current SAI, Dr. Anderson and Mr. Propper owned no Fund shares. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. The Trustees noted that the Adviser seeks to achieve the Funds investment objective to generate a balanced return comprised of current income and capital appreciation with moderate volatility and low correlation to the broader markets by pursuing strategic investing across private institutional real estate investment funds as well as a diversified set of public real estate securities. No affiliation or endorsement, express or implied, is provided by their use. A negative correlation of -1 indicates that the securities have moved in the opposite direction. The Trustees also noted that CenterSquare seeks to invest across a diversified set of public real estate securities. Investment in real estate is speculative and involves significant risk. Shareholders should note that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares. 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. In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Griffin Institutional Access Real Estate Fund as of September 30, 2016, and the results of its operations for the year then ended, the changes in its net assets for each of the years in the two-year period then ended and its financial highlights for each of the years in the two-year period then ended and for the period June 30, 2014 through September 30, 2014, in conformity with accounting principles generally accepted in the United States of America. Clarion Lion Properties Fund, L.P. - Fund Data Get the latest business insights from Dun & Bradstreet. San Jose Police and Fire funds back the Clarion Lion Industrial Trust Certifications required by Item 12(a)(2) of Form N-CSR are filed herewith as Exhibit 99.CERT. Sign-up PDF Office of the State Treasurer Summary of Responses to Request for - ct The firm currently manages $8.2 billion across a variety of real estate strategies as of December 31, 2015. At September 30, 2016, outstanding collateral amounted to $1,066,237,965. The Trustees also noted that the Adviser seeks, through this approach, to allocate between public and private real estate securities and allow the Fund to invest across a diversified set of investment managers and strategies as well as to provide investment exposure across property types and geographies. It focuses on industrial asset class. Class C shares may be subject to a 1.00% contingent deferred sales charge on shares redeemed during the first 365 days after their purchase. All Clarion Partners LLC and Clarion Partners Europe statistics, data and charts, including but not limited to assets under management (AUM), ESG data, sector data and property data, as well as data related to our investors, tenants and employees, are as of 12/31/2022 unless otherwise noted. Following further consideration and discussion of the foregoing, the Board concluded that the fee to be paid to the Adviser by the Fund was fair and reasonable in relation to the nature and quality of the services provided by the Adviser and that they reflected charges that were within a range of what could have been negotiated at arms length. In considering the extent to which economies of scale would be realized as the Fund grows and whether the advisory fee levels reflect these economies of scale for benefit of the Funds investors, the Trustees considered that the Funds fee arrangements with CenterSquare and noted that the sub-advisory fees contained break points, which caused the Adviser to pay CenterSquare lower fees at lower asset levels. The Funds investment objective is to generate a return comprised of both current income and capital appreciation with moderate volatility and low correlation to the broader markets. The Statement of Additional Information of the Fund includes additional information about the Trustees and officers and is available, without charge, upon request by calling the Funds toll, General Counsel, Triloma Capital (private equity firm), 2013, Class of 1938 Foundation (nonprofit), 1996, Chief Executive Officer, ROC Senior Housing Fund Manager, LLC (real estate fund management), 2013, ROC Seniors Housing & Medical Properties Fund, LP (real estate fund), 2013, Executive Vice President, Recognos Financial (financial data services firm), 2015, Valued Advisers Trust (14 portfolios), 2010, Chairman and Chief Executive Officer of Griffin Capital Corporation; Chief Executive Officer of Griffin Capital Securities, LLC; President and Director, Griffin, Chairman, Griffin Capital Corporation; 1995, Chief Financial Officer, Griffin Capital Corporation; Chief Financial Officer, Griffin, Portfolio Manager, Secretary and Trustee Since 2014, Chief Economist, Griffin Capital Corporation; Chief Investment Officer, Griffin Capital Advisor, LLC; President, Griffin Capital Asset Management Company, LLC; Howard Phillips Eminent Scholar Chair and Professor of Real Estate at the University of Central Florida; President, Bluerock Real Estate LLC; President, CNL Real Estate Advisors; and Chief Economist, Marcus and Millichap Company; Executive Vice President, Griffin, Compliance Director, Cipperman Compliance Services, LLC (compliance services provider). 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 AHIC. In considering the nature, extent, and quality of the services provided by the Adviser, the Trustees considered the responsibilities of the Adviser under the Investment Advisory Agreement and reviewed the services provided to the Fund including, without limitation, the Advisers procedures for formulating investment recommendations and assuring compliance with the Funds investment objectives and limitations, coordination of services for the Fund among the Funds service providers, and efforts to promote the Fund, grow the Funds assets, and assist in the distribution of Fund shares. * Additional Information on Investments in Private Investment Funds: Written notice required for redemption, no minimum timeline required. The notice included securities offered of Equity,Pooled Investment Fund Interests Summary 13D/G Insider (Form 4) Form D 14 Elevate your investments Try it for free The Expense Limitation Agreement will remain in effect at least until January 31, 2017, unless and until the Board approves its modification or termination.