Market Overview

Principal Real Estate Income Fund Declares Monthly Distributions of $0.11 Per Share


Principal Real Estate Income Fund (the "Fund"), which is traded on the
New York Stock Exchange under the symbol "PGZ," announced the
declaration of monthly distributions of $0.11 per common share, payable
on the dates noted below. Based on the Fund's current share price of
$19.83 (as of market close on July 25, 2018), the distributions
represent an annualized distribution rate of 6.66%.

The following dates apply to the distributions declared:

Ex Date


Record Date


Payable Date

August 16, 2018     August 17, 2018     August 31, 2018
September 13, 2018     September 14, 2018     September 28, 2018
October 16, 2018     October 17, 2018     October 31, 2018



This press release is not for tax reporting purposes but is being
provided to announce the amount of the Fund's distributions. In early
2018, after definitive information is available, the Fund will send
shareholders a Form 1099-DIV, if applicable, specifying how the
distributions paid by the Fund during the prior calendar year should be
characterized for purposes of reporting the distributions on a
shareholder's tax return (e.g., ordinary income, long-term capital gain
or return of capital). An investment in the Fund is not appropriate for
all investors and is not intended to be a complete investment program.
The Fund is designed as a long-term investment and not as a trading

Investing in the Fund involves risks, including the risk that you may
receive little or no return on your investment or that you may lose part
or even all of your investment and exposure to below-investment grade
investments (i.e., "junk bonds"). The Fund's net asset value will vary
and its distribution rate may vary and both may be affected by numerous
factors, including changes in the market spread over a specified
benchmark, market interest rates and performance of the broader equity
markets. Fluctuations in net asset value may be magnified as a result of
the Fund's use of leverage. Therefore, before investing you should
carefully consider the risks that you assume when you invest in the
Fund's common shares.

Securities backed by commercial real estate assets are subject to
market risks similar to those of direct ownership of commercial real
estate assets including, but not limited to, declines in the value of
real estate, declines in rental or occupancy rates and risks related to
general and local economic conditions.

The Fund's investment objectives and policies are not designed to
seek to return the initial investment to investors that purchase shares.

Sources of distributions to shareholders may include net investment
income, net realized short-term capital gains, net realized long-term
capital gains and return of capital. The actual amounts and sources of
the amounts for tax reporting purposes will depend upon the Fund's
investment experience during the remainder of its fiscal year and may be
subject to changes based on tax regulations. If a distribution includes
anything other than net investment income, the fund provides a Section
19(a) notice of the best estimate of its distribution sources at that
time, available at
These estimates may not match the final tax characterization (for the
full year's distributions) contained in shareholders' 1099-DIV forms
after the end of the year. The rate is the monthly distribution per
share times 12, divided by the end of month market price. Past
performance is not a guarantee of future results.

An investor should consider investment objectives, risks, charges
and expenses carefully before investing. To obtain an annual report or
semi-annual report which contains this and other information visit
or call 855.838.9485.
Please read them carefully before

Shares of closed-end investment companies frequently trade at a
discount from their net asset value and initial offering prices.

NOT FDIC INSURED | May Lose Value | No Bank Guarantee

The Fund is a closed-end fund and does not continuously issue shares for
sale as open-end mutual funds do. Since the initial public offering, the
Fund now trades in the secondary market. Investors wishing to buy or
sell shares need to place orders through an intermediary or broker. The
share price of a closed-end fund is based on the market's value.

ALPS Advisors, Inc. is the investment adviser to the Fund.

Principal Real Estate Investors LLC is the investment sub-adviser to the
Fund. Principal Real Estate Investors LLC is not affiliated with ALPS
Advisors, Inc. or any of its affiliates.

ALPS Portfolio Solutions Distributor, Inc. is the FINRA Member firm.

About ALPS

Through its subsidiary companies, ALPS Holdings, Inc. is a leading
provider of innovative investment products and customized servicing
solutions to the financial services industry. Founded in 1985, Denver
based ALPS delivers its asset management and asset servicing solutions
through offices in Boston, New York, Seattle, and Toronto. ALPS is a
wholly-owned subsidiary of SS&C Technologies, Inc. For more information
about ALPS and its services, visit
Information about ALPS products is available at

About Principal Real Estate Investors

Principal Real Estate Investors manages or sub-advises $71.8 billion in
commercial real estate assets, as of December 31, 2016. The firm's real
estate capabilities include both public and private equity and debt
investment alternatives. Principal Real Estate Investors is the
dedicated real estate group of Principal Global Investors, a diversified
asset management organization and a member of the Principal Financial

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