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Simpson Thacher represented the underwriters, led by Wells Fargo Securities, LLC, UBS Securities LLC and RBC Capital Markets, LLC in connection with the initial public offering of Principal Real Estate Income Fund (the "Fund"). The offering raised approximately $138.3 million, assuming full exercise of the underwriters’ option to purchase additional shares.

The Fund is a newly organized, non-diversified closed-end management investment company which trades on the NYSE under the symbol "PGZ". The Fund’s investment objective is to seek to provide high current income, with capital appreciation as a secondary objective, by investing in commercial real estate-related securities. ALPS Advisors, Inc. is the Fund’s investment adviser. Principal Real Estate Investors, LLC, the dedicated real estate group of Principal Global Investors, is the Fund’s investment sub-adviser.

The Simpson Thacher team for the transaction included: Sarah Cogan, Jeremy Barr, Karen Wang, Kevin Elliott and summer associate Sage Hughes (Capital Markets); Jonathan Cantor and Devin Heckman (Tax); Joyce Xu and Bennett Surajat (Derivatives); and Jennie Getsin (Blue Sky and FINRA).