CBRE Global Real Estate Income Fund : Investment Management Private Infrastructure Investment Supports Portfolio Company WANRack Fiber-To-the-Home Acquisition

CBRE Investment Management is pleased to announce that its Private Infrastructure portfolio company WANRack, LLC ("WANRack"), has entered into a definitive agreement to acquire Kansas-based fixed wireless and fiber-to-the-home provider KwiKom Communications ("KwiKom") through a fund sponsored by CBRE Investment Management.

WANRack is a national leader of custom fiber optic network deployments providing broadband connectivity services, primarily to K-12 school districts across the United States. KwiKom builds and operates fiber optic and fixed wireless broadband networks that serve residential and business customers in Kansas, Missouri, Oklahoma and Nebraska.

The two companies will continue operating under their respective brands following the acquisition.

"We're excited to support the continued growth of our portfolio company WANRack through the acquisition of Kwikom. This transaction will not only enhance WANRack's existing fiber footprint in Kansas but also give entry into KwiKom's other markets and expand our service offerings to now include fiber-to-the-home capabilities," said Noi Spyratos, Managing Director, Private Infrastructure at CBRE Investment Management. "This is a great example of our commitment to growing our portfolio companies while also contributing to strong social outcomes given our plans to expand fiber into unserved and underserved communities. We believe with this acquisition, WANRack will be even better positioned to make a meaningful impact to reducing the 'homework gap' and the 'digital divide'."

Providing communities with reliable, high-speed internet is a priority in the United States, as evidenced by the over $42 billion of federal funding earmarked for broadband deployment within the new Infrastructure Bill. WANRack is well positioned to secure a portion of this grant funding and support the buildout into these communities.

"We are extremely excited to welcome KwiKom into the WANRack family," said Mike Brigman, WANRack's President & Chief Operating Officer. "KwiKom has a proven track record of stellar customer service and capacity to expand. Their high-caliber team and impressive services portfolio align perfectly with WANRack's vision for growth."

The acquisition is expected to close in the first quarter of 2023 following regulatory approvals. WANRack was advised in this transaction by financial advisor TD Securities, legal counsel Morgan, Lewis & Bockius, commercial advisor ATLANTIC-ACM and technical advisor Broadband Success Partners.

About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $143.9 billion in assets under management* as of September 30, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world's largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE's data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management's presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.

About WANRack
WANRack provides high-bandwidth, fiber-based infrastructure and related services to schools, hospitals, libraries, enterprise and carrier customers throughout the continental United States. Service offerings include E-Rate-compliant lit fiber, dark fiber, and special construction solutions. Headquartered in Overland Park, Kansas, the company provides bespoke fiber solutions, which eliminates countless points of failure found in typical legacy networks. To learn more about WANRack, visit www.wanrack.com.

About JMZ Corporation, d/b/a KwiKom Communications
KwiKom provides internet and voice services today, with video service launching in the first quarter of 2023. Founded in 2010, KwiKom's ever expanding network services an area of more than 30,000 square miles, across 75 counties in four states. For the last five years, KwiKom has been expanding into gigabit fiber network services to homes and businesses across multiple markets in Kansas. To learn more about KwiKom, visit www.KwiKom.com.