Company: PGZ
Filing Date: 2025-02-21
Form Type: DEF 14A
Source: 0001398344-25-003239
Chunk: 2

Company: Principal Real Estate Income Fund
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 2
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 even if you vote your shares beforehand.

<div align='center'>PRINCIPAL REAL ESTATE INCOME FUND

(the “Fund”)

1290 Broadway, Suite 1000

Denver, Colorado 80203

(855) 838-9485

PROXY STATEMENT</div>

This Proxy Statement is furnished in connection with
the solicitation of proxies by the Board of Trustees of the Fund (the “Board of Trustees”) for use at the Annual Meeting of
Shareholders of the Fund (the “Meeting”) to be held to be held as a telephone conference call meeting at which no one will
be allowed to attend in person on Friday, April 11, 2025, at 10:00 a.m. Mountain Time and at any adjournments thereof.

We will be hosting this year’s Meeting as a
telephone conference call. There is no physical location for the Meeting. To participate in the Meeting, you must email
no later than 3:00 p.m. Mountain Time on April 7, 2025 and provide your full name and address. You will then receive an email from EQ
Fund Solutions (“EQFS”) containing the conference call dial-in information and instructions for participating in the Meeting.

If you hold your shares through an intermediary, such
as a bank or broker, you must register in advance to attend the Meeting. To register, you must submit proof of your proxy power (legal
proxy) reflecting your Fund holdings along with your name and email address to EQFS, the Fund’s tabulator. You may forward an email
from your intermediary or attach an image of your legal proxy to
Requests for registration must be received no later than 3:00 p.m. Mountain Time on April 7, 2025. You will then receive an email from
EQFS containing the conference call dial-in information and instructions for participating in the Meeting.

This Proxy Statement was first mailed to shareholders
on or about February 21, 2025.

Other Methods of Proxy Solicitation

In addition to the solicitation of proxies by mail,
officers of the Fund and officers and regular employees of SS&C GIDS, Inc. (“GIDS”), the Fund’s transfer agent,
ALPS Fund Services, Inc. (“ALPS”), the Fund’s administrator, and affiliates of GIDS, ALPS or other representatives of
the Fund may also solicit proxies by telephone, Internet, or in person. The expenses incurred in connection with preparing the Proxy Statement
and its