Company: PGZ
Filing Date: 2025-02-21
Form Type: DEF 14A
Source: 0001398344-25-003239
Chunk: 4

Company: Principal Real Estate Income Fund
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 4
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orum is not present at the Meeting, or if a quorum is present at the Meeting but sufficient
votes to approve any of the proposed items are not received, the persons named as proxies may propose one or more adjournments of the
Meeting to permit further solicitation of proxies. A shareholder vote may be taken on one or more of the proposals in this Proxy Statement
prior to such adjournment if sufficient votes have been received for approval and it is otherwise appropriate. Any such adjournment for
the Meeting will require the affirmative vote of a majority of those Common Shares present at the Meeting via telephone or by proxy. If
a quorum is present, the persons named as proxies will vote those proxies that they are entitled to vote “FOR” any proposal
in favor of such adjournment and will vote those proxies required to be voted “AGAINST” any proposal against such adjournment.

Eligibility to Vote

At the close of business on February 7, 2025 (the
“Record Date”), only shareholders of record are entitled to receive notice of the Meeting and to vote those Common Shares
for which they are the record owners, at either the Meeting or any adjournment or postponement thereof.

Shares Entitled to Vote

The Fund has one class of capital stock: common shares
of beneficial interest, no par value per share (“Common Shares”). As of the Record Date, the Fund had 6,694,109 Common Shares
outstanding.

Number of Votes per Common Share

The holders of Common Shares are entitled to one vote
for each full share and an appropriate fraction of a vote for each fractional share held.

<div align='center'>PROPOSAL 1

ELECTION OF NOMINEES TO

THE FUND’S BOARD OF TRUSTEES</div>

Nominees for the Fund’s Board of Trustees

The Fund’s Board of Trustees is divided into
three classes, each class having a term of three years. Each year the term of office for one class will expire. Listed below are the nominees
for the Board of Trustees. One nominee has been nominated by the Board of Trustees for election to a one-year term to expire at the Fund’s
2026 Annual Meeting of Shareholders or until their successors are duly elected and qualified. The other nominee has been nominated by
the Board of Trustees for election to a three-year term to expire at the Fund’s 2028 Annual Meeting of Shareholders or until their
successors are duly elected and qualified