# EDGAR Filing Document

**Accession Number:** 0001762562
**File Stem:** 0000038777-25-000122
**Filing Date:** 2025-6
**Character Count:** 16781
**Document Hash:** 5fe9aa40023c4c46d13d128f248b5548
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000038777-25-000122.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0000038777-25-000122

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Clarion Partners Real Estate Income Fund Inc.
- **CENTRAL INDEX KEY:** 0001762562

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91252
- **FILM NUMBER:** 251084727

**BUSINESS ADDRESS:**
- **STREET 1:** 620 8TH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 8887770102

**MAIL ADDRESS:**
- **STREET 1:** 620 8TH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN RESOURCES INC
- **CENTRAL INDEX KEY:** 0000038777
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 132670991
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **STREET 2:** BUILDING 920/2, LEGAL-FRI SECRETARY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 19)**

**CLARION PARTNERS REAL ESTATE INCOME FUND INC.**

*(Name of Issuer)*

**CLASS I SHARES OF COMMON STOCK $.001 PAR VALUE PER SHARE**

*(Title of Class of Securities)*

**180567406**

*(CUSIP Number)*

**Thomas C. Merchant**<br>One Franklin Parkway<br>San Mateo CA 94403<br>800-632-2350

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/26/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **180567406** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Franklin Resources, Inc.** | Name of reporting person<br>**Franklin Resources, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**24860998.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**24200578.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**24860998.00** | Aggregate amount beneficially owned by each reporting person<br>**24860998.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**34.6%** | Percent of class represented by amount in Row (11)<br>**34.6%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** 1. Consists of  14,914,371 Class I Shares of Common Stock held in a Franklin Resources, Inc. corporate account and   9,946,627 held for the benefit of fiduciary accounts managed by Franklin Resources Inc.'s investment management subsidiaries, including a fund managed by Franklin Advisers, Inc.

2. Percentage represents the current beneficial ownership percentage that Franklin Resources, Inc. and its investment management subsidiaries may be deemed to beneficially own based upon  71,775,638 Class I Shares of Common Stock outstanding as of June 26, 2025. Class I Shares of Common Stock were initially transferred to Franklin Resources, Inc. for no consideration from Legg Mason, Inc. on March 12, 2021.

| **CUSIP No.** | **180567406** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Charles B. Johnson** | Name of reporting person<br>**Charles B. Johnson** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **180567406** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Rupert H. Johnson, Jr.** | Name of reporting person<br>**Rupert H. Johnson, Jr.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **180567406** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Franklin Advisers, Inc.** | Name of reporting person<br>**Franklin Advisers, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CALIFORNIA** | Citizenship or place of organization<br>**CALIFORNIA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**7867833.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**7867833.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7867833.00** | Aggregate amount beneficially owned by each reporting person<br>**7867833.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.0%** | Percent of class represented by amount in Row (11)<br>**11.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
CLASS I SHARES OF COMMON STOCK $.001 PAR VALUE PER SHARE

**(b) Name of Issuer:**
CLARION PARTNERS REAL ESTATE INCOME FUND INC.

**(c) Address of Issuer's Principal Executive Offices:**
620 8th Avenue, 47th Floor, New York, NY, 10018

**Item 4. Purpose of Transaction**

FRI and its investment management subsidiaries, including FAV, acquired the Shares for investment and to facilitate the acquisition of the Issuer's commercial real estate investments.  Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of the Shares at prices that would make the purchase or sale of the Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of the Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable. Other factors that may affect the Reporting Persons' investment in the Shares include, without limitation, the Issuer's financial position, results, prospects and strategic direction, actions taken by the Issuer's portfolio managers, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions.

Except as described above, none of FRI and its investment management subsidiaries, and none of any of the other Reporting Persons covered by this Schedule 13D, currently has any plans or proposals that relate to or would result in any of the actions described in paragraphs (a) through (j) of the instructions to Item 4 of Schedule 13D, or any present plans or intentions to acquire or dispose of any securities of the Issuer.  The Reporting Persons may at any time review, reconsider and change their position and/or change their purpose and/or develop such plans or proposals.

**Item 5. Interest in Securities of the Issuer**

**(a)**
24,860,998 or 34.6%

**(b)**
Sole power to vote or to direct the vote of the Shares:
Franklin Resources, Inc.:   14,914,371
Charles B. Johnson:   0
Rupert H. Johnson, Jr.:   0
Franklin Advisers, Inc.:  7,867,833
Fiduciary Trust Company International:   2,078,795

Shared power to vote or to direct the vote of the Shares:  0

Sole power to dispose or to direct the disposition of the Shares:
Franklin Resources, Inc.:   14,914,371
Charles B. Johnson:   0
Rupert H. Johnson, Jr.:   0
Franklin Advisers, Inc.:  7,867,833
Fiduciary Trust Company International:   1,418,375

Shared power to dispose or to direct the disposition of the Shares: 0

**(c)**
The purchase of Shares described below were made in the open market on The Nasdaq Stock Market LLC for the benefit of fiduciary accounts managed by Fiduciary Trust Company International:

Date of Transactions       Number of Shares             Price Per Share in USD
4/29/2025                         9,270                                   11.61
5/01/2025                         63,738                                 11.55
5/05/2025                         6,600                                   11.56
5/08/2025                         95                                        11.56
5/12/2025                         10,813                                 11.57
5/13/2025                         216                                      11.57
5/14/2025                         8,643                                   11.57
5/15/2025                         17,321                                 11.58
5/16/2025                         6,450                                   11.58
6/10/2025                         4,340                                   11.52
6/12/2025                         1,241                                   11.52
6/13/2025                         8,681                                   11.53
6/18/2025                            867                                   11.54

Repurchase through tender offer by Issuer:

Date of Transactions       Number of Shares             Price Per Share in USD
5/02/2025                         882,166                               11.58
5/02/2025                         3,157                                   11.61
5/02/2025                         20,433                                 11.62
5/02/2025                         14,680                                 11.66

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Not Applicable

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Franklin Resources, Inc.

**Signature:** /s/THOMAS C. MANDIA

**Name/Title:** Thomas C. Mandia, Assistant Secretary of Franklin Resources, Inc.

**Date:** 06/27/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Charles B. Johnson

**Signature:** /s/THOMAS C. MANDIA

**Name/Title:** Attorney in Fact for Charles B. Johnson pursuant to Power of Attorney attached to this Schedule 13G

**Date:** 06/27/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Rupert H. Johnson, Jr.

**Signature:** /s/THOMAS C. MANDIA

**Name/Title:** Attorney in Fact for Rupert H. Johnson, Jr. pursuant to Power of Attorney attached to this Schedule13G

**Date:** 06/27/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Franklin Advisers, Inc.

**Signature:** /s/THOMAS C. MANDIA

**Name/Title:** Thomas C. Mandia, Assistant Secretary of Franklin Advisers, Inc.

**Date:** 06/27/2025