PIMCO Flexible Real Estate Income Fund
Last Updated 01/18/2023
This fund recently launched or we are in the process of collecting the data
Shows hypothetical growth of $1000 since inception
Total Managed Assets*
Net Expense Ratio
*represents total managed funds for the fund complex
About The Fund
On 2/7/22, PIMCO registered the PIMCO Flexible Real Estate Income Fund (the "Fund"), bringing PIMCO's total interval funds (either active or in registration) to 5.
The Fund's primary objective is to provide current income with a secondary focus on long-term capital appreciation, by acquiring income-oriented commercial real estate, primarily here in the U.S., as well as debt secured by commercial real estate.
The Fund expects to offer an institutional share class with a minimum investment of $1 million, as well as 4 additional share classes.
Notably, while interval funds commonly elect to be taxed as Registered Investment Companies, the Fund expects to qualify as a REIT for taxation purposes.
PIMCO, based in Newport Beach, CA, manages products spanning fixed income, equities, alternative investments, ESG funds, ETFs, and interval funds with over $2.2 trillion under management.
From the Fund's prospectus:
The Fund: PIMCO Flexible Real Estate Income Fund (the “Fund”) is a newly organized, non-diversified, closed-end management investment company that invests primarily in commercial real estate in the United States. The Fund is a Delaware statutory trust and intends to elect to be taxed as a real estate investment trust (“REIT”) for U.S. federal income tax purposes under the Internal Revenue Code of 1986, as amended (the “Code”). The Fund currently intends to offer five classes of its Common Shares on a continuous basis: Institutional Class, Class A-1, Class A-2, Class A-3 and Class A-4 (the “Common Shares”).
Investment Objectives. The Fund’s primary investment objective is to provide current income with a secondary objective of long-term capital appreciation. There can be no assurance that the Fund will achieve its investment objectives.
Investment Strategies. The Fund’s investment strategy is expected to primarily be to acquire stabilized, income-oriented commercial real estate and debt secured by commercial real estate (“CRE”). Under normal circumstances, the Fund’s portfolio is expected to be principally comprised of properties, and debt secured by properties, primarily located in the United States but may also be diversified on a global basis through investments in properties and debt secured by properties outside of the United States. To a lesser extent, and subject to the investment limitations described herein, the Fund also may invest in real estate-related securities.
Legal Counsel: Dechert LLP
Partner: Douglas P. Dick
Distributor: PIMCO Investments LLC
Fund Class Docs
Percentage and dollar changes represent the increase or decrease in the NAV from the preceding trading day.