Semi-Annual Report by Investment Company (Form N-CSRS)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-21465

CBRE Global Real Estate Income Fund

(Exact name of registrant as specified in charter)

555 East Lancaster Avenue, Suite 120

Radnor, PA 19087

(Address of principal executive offices) (Zip code)

Joseph P. Smith, President and Chief Executive Officer

CBRE Global Real Estate Income Fund

555 East Lancaster Avenue, Suite 120

Radnor, PA 19087

(Name and address of agent for service)

Registrant's telephone number, including area code: 1-877-711-4272

Date of fiscal year end: December 31

Date of reporting period: June 30, 2026

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Reports to Stockholders.

Semi-Annual Report

CBRE Global Real Estate

Income Fund

2026

Table of Contents

CBRE Global Real Estate Income Fund (unaudited)

Important Information

CBRE Global Real Estate Income Fund (the "Trust"), acting in accordance with an exemptive order received from the U.S. Securities and Exchange Commission ("SEC"), utilizes a managed distribution policy under which the Trust's regular monthly distribution may include both income and, where applicable, realized capital gains. If the Trust's total distributions for a period exceed the total amount of net income and net capital gains realized by the Trust, the excess will generally be a return of capital.

Dividends from net investment income, if any, are declared quarterly and paid monthly. Dividends and other distributions to common shareholders are recorded on the ex-dividend date. A portion of distributions for a period may be a return of capital if the amount of the distributions paid for the period exceeds the net investment income and net realized capital gains for the period. The Trust may offset realized capital gains with realized capital losses and capital loss carryforwards rather than distribute such gains.

In furtherance of its policy, the Trust distributes a fixed amount per common share, currently $0.06, each month to its common shareholders. This amount is subject to change from time to time in the discretion of the Board of Trustees (the "Board"). In an effort to maintain the Trust's monthly distribution at a stable level, the Board recognizes that a portion of the Trust's distributions may be characterized as a return of capital, particularly in periods when the Trust incurs losses on its portfolio securities. Under such circumstances, the Board will not necessarily reduce the Trust's distribution, but will closely monitor its sustainability, recognizing that losses may be reversed and that, in subsequent periods, gains on portfolio securities may give rise to the need for a supplemental distribution, which the Trust seeks to minimize. In considering sustainability, the Board may consider realized gains that have been offset, for the purposes of calculating taxable income, by capital loss carryforwards.

Thus, the level of the Trust's distributions will be independent of its performance for a particular period, but the Trust expects its distributions to correlate to its performance over time. In particular, the Trust expects that its distribution rate in relation to its net asset value ("NAV") will correlate to its total return on NAV over time. The Trust's total return on NAV is presented in the financial highlights table.

Shareholders should not draw any conclusions about the Trust's investment performance from the amount of the current distribution or from the terms of the Trust's managed distribution policy. The Board may amend or terminate the policy without prior notice to shareholders. Shareholders should note that the managed distribution policy is subject to change or termination for a variety of reasons. Through its ownership of portfolio securities, the Trust is subject to risks including, but not limited to, declines in the value of real estate held by portfolio companies, risks related to general and local economic conditions, and portfolio company losses. An economic downturn might have a material adverse effect on the real estate markets and the real estate companies in which the Trust invests, which could result in the Trust failing to achieve its investment objectives and jeopardizing the continuance of the managed distribution policy. Please refer to the Trust's Prospectus for a fuller description of the risks associated with investing in the Trust.

The views expressed represent the opinion of CBRE Investment Management Listed Real Assets LLC ("CBREIM"), which are subject to change and are not intended as investment advice or a guarantee of future results. This material is for informational purposes only. It is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and non-proprietary sources which have not been independently verified for accuracy or completeness. While CBREIM believes the information to be accurate and reliable, we do not claim or accept responsibility for its completeness, accuracy, or reliability. Statements of future expectations, forecasts, estimates, projections, and other forward-looking statements are based on CBREIM's view at the time such statements were made. Accordingly, such statements are inherently speculative, as they are based on assumptions which may involve known and unknown risks and uncertainties. Any discussion of particular securities herein should not be perceived as a recommendation to purchase or sell any of those securities. It should not be assumed that investments in any securities discussed were or will be profitable. Actual results, performance or events may differ materially from those expressed or implied in such statements. Investing in real estate securities involves risks including the potential loss of principal. Real estate equities are subject to risks similar to those associated with the direct ownership of real estate.

Portfolios concentrated in real estate securities may experience price volatility and other risks associated with non-diversification. While equities may offer the potential for greater long-term growth than most debt securities, they generally have higher volatility. International (non-US) investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Past performance is no guarantee of future results. FINRA compliance services: Foreside Fund Services, LLC.

Letter to Shareholders

Total Returns		1H2026
Fund NAV Total Return		9.79%
Fund Market Price Total Return		13.65%
FTSE EPRA Developed Net Return Index1		9.64%
MSCI US REIT Preferred Index2		1.10%
Blended Index: 90% FTSE EPRA Developed Net Return Index, 10% MSCI US REIT Preferred Index		8.79%

PORTFOLIO REVIEW

We own a well-balanced portfolio of securities that have been screened for their growth prospects in combination with the quality of their business models, assets, balance sheets and management teams. We are positive on property types, regions and stocks that offer these qualities at attractive relative valuations.

As of June 30^th, 2026, the Trust's portfolio was approximately 95% invested in common stock securities (64% in the Americas, 12% in Europe, 18% in Asia-Pacific) and 5% in preferred stock of U.S. real estate companies

During 1H2026, we meaningfully increased exposure to U.S. net lease by adding new positions in Essential Properties Realty Trust, Gaming and Leisure Properties, Getty Realty, and Broadstone Net Lease, while also adding to our existing position in VICI Properties. We expanded our U.S. healthcare exposure through new positions in American Healthcare REIT and Janus Living and an increased allocation to Welltower. Within industrial, we raised our positions in EastGroup Properties and First Industrial Realty Trust. Partially offsetting these additions, we exited a number of positions including Crown Castle (U.S. towers), Healthpeak Properties and Omega Healthcare Investors (U.S. healthcare), Stockland, Tokyo Tatemono and Japan Metropolitan Fund (Asia-Pacific, diversified), and Park Hotels & Resorts (U.S. hotels).

In the United States, we favor healthcare, industrial, net lease, data centers, retail, residential, and hotels. In Japan, we favor industrial and diversified J-REITs as well as J-REOCs committed to improving corporate governance. In Hong Kong, we have a positive bias toward retail and diversified landlords. In Australia, we prefer industrial and retail as well as asset managers. In the U.K., we favor industrial, storage, and diversified companies. Within Continental Europe, we have a positive bias toward retail and select diversified landlords.

Source: CBRE Investment Management as of 6/30/2026.

Geographic and Sector diversification are unaudited. Totals may not sum to 100% due to rounding. Percentages presented are based on managed trust assets, which include borrowings. The percentages in the pie charts will differ from those on the Portfolio of Investments because the figures on the Portfolio of Investments are calculated using net assets of the Trust.

MARKET OUTLOOK

We believe listed real estate is at the start of a new cycle, remaining both discounted and capital-advantaged.

REITs offer historically discounted valuations relative to both broad equities and private real estate with improving growth expectations.

Global Real Estate NAV Premium/Discount

Estimated Net Asset Value is calculated based on individual REIT only stocks followed by the firm's research team and are considered as investible. Global, Country, and Sector NAV Premium Discounts are calculated using simple average with CBRE Investment Management's proprietary models. Information is the opinion of CBRE Investment Management as of 06/30/2026, is subject to change and is not intended to be a forecast of future events, or a guarantee of future results, or investment advice. Forecasts and any factors discussed are not indicative of future investment performance.

As of the most recent estimate, listed real estate globally trades at an average discount to NAV of approximately 10%, with the United States at approximately a 3% discount and international markets, particularly Europe and Asia Pacific, at substantially deeper discounts. We believe this creates a compelling opportunity for active managers to capture value across geographies.

We project approximately 5.6% earnings growth in 2026. Resilient cash flows are supported by long-duration leases and staggered lease terms, while healthy supply and demand dynamics in key property sectors provide landlords with continued pricing power.

Global real estate earnings growth forecast by region

Source: CBRE Investment Management as of 06/30/2026. "f" refers to "forecasts" and "e" refers to "estimates:". 2025 is represented by 2025/2024, 2026 is represented by 2026/2025. and 2027 is represented by 2027/2026. Earnings growth forecasts are calculated based on FFO Growth of individual stocks followed by the firm's research team and are considered as investible. Global, Country, and Sector FFO Growth is calculated using weighted averages. Forecasts are the opinion of CBRE Investment Management, which is subject to change and is not intended to be a guarantee of future results or investment advice. Forecasts are not indicative of future investment performance.indicative of future investment performance.

As private market asset owners manage the higher rate environment and the upcoming wall of debt maturities, we expect REITs to benefit from external growth opportunities that are accretive to earnings. We expect increased M&A and privatization activity as REITs seek to close gaps between private and public market values.

We believe active management can offer significant relative return potential at this time when investors have distinct opportunity to invest in listed real estate at attractive valuations. We think our "information advantage" and the disciplined use of our proprietary analytical tools will allow us to outperform a passive strategy in a variety of market environments over time. As we look ahead, we believe our portfolio is well-positioned to deliver relative outperformance.

We appreciate your continued faith and confidence.

Sincerely,

CBRE Investment Management Listed Real Assets LLC

IMPORTANT DISCLOSURES AND RISK INFORMATION

Must be preceded or accompanied by a prospectus.

The views expressed represent the opinion of CBRE Investment Management Listed Real Assets LLC ("CBREIM"), which are subject to change and are not intended as investment advice or a guarantee of future results. This material is for informational purposes only. It is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and non-proprietary sources which have not been independently verified for accuracy or completeness. While CBREIM believes the information to be accurate and reliable, we do not claim or accept responsibility for its completeness, accuracy, or reliability. Statements of future expectations, forecasts, estimates, projections, and other forward-looking statements are based on CBREIM's view at the time such statements were made. Accordingly, such statements are inherently speculative, as they are based on assumptions that may involve known and unknown risks and uncertainties. Any discussion of securities herein should not be perceived as a recommendation to purchase or sell any of those securities. It should not be assumed that investments in any securities discussed were or will be profitable. Actual results, performance or events may differ materially from those expressed or implied in such statements. Investing in real estate securities involves risks including the potential loss of principal. Real estate equities are subject to risks like those associated with the direct ownership of real estate. Portfolios concentrated in real estate securities may experience price volatility and other risks associated with non-diversification. While equities may offer the potential for greater long-term growth than most debt securities, they generally have higher volatility. International (non-US) investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Past performance is no guarantee of future results.

Fund holdings and sector allocations are subject to change. For a complete list of holdings, please see the Portfolio of Investments section of the financial statements.

Distributed by Foreside Funds Services

Fees and Expenses (unaudited)

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including brokerage commissions paid on purchases and sales of fund shares, and (2) ongoing costs, including management fees and other Fund expenses. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other funds.

The examples in the table is based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (January 1, 2026 to June 30, 2026).

Actual Expenses

The first line in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading "Expenses Paid During the Period" to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line in the following table provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratios and an assumed rate of return of 5% per year before expenses (which is not the Funds' actual return). The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the tables are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Additional Information - Investment Objectives, Policies, and Risks (unaudited)

Investment objective

The Trust's primary investment objective is high current income. The Trust's secondary investment objective is capital appreciation. The Trust's investment objectives and certain investment policies are considered fundamental and may not be changed without shareholder approval. There can be no assurance that the Trust's investment objectives will be achieved.

Investment policies

The Trust has a policy of concentrating its investments in the real estate industry and not in any other industry. Under normal market conditions, the Trust will invest substantially all but no less than 80% of its total assets in income-producing global "Real Estate Equity Securities." Real Estate Equity Securities include common stocks, preferred securities, warrants and convertible securities issued by real estate companies, such as real estate investment trusts ("REITs"). The Trust, under normal market conditions, will invest in Real Estate Equity Securities of companies domiciled primarily in developed countries.

However, the Trust may invest up to 15% of its total assets in Real Estate Equity Securities of companies domiciled in emerging market countries. Under normal market conditions, the Trust expects to have investments in at least three countries, including the United States.

The Trust may invest up to 25% of its total assets in preferred securities of global real estate companies. The Trust may invest up to 20% of its total assets in preferred securities that are rated below investment grade or that are not rated and are considered by the Trust's investment adviser to be of comparable quality. Preferred securities of non-investment grade quality are regarded as having predominantly speculative characteristics with respect to the capacity of the issuer of the preferred securities to pay interest and repay principal. Investment grade quality securities are those that are rated within the four highest grades by Moody's Investors Service, Inc., S&P Global Ratings, or Fitch Ratings at the time of investment or are considered by the Trust's investment adviser to be of comparable quality. Although it has no present intentions to do so, the Trust may invest up to 15% of its total assets in securities and other instruments that, at the time of investment, are illiquid (i.e., securities that are not readily marketable).

The Trust defines a real estate company as a company that derives at least 50% of its revenue from the ownership, construction, financing, management or sale of commercial, industrial or residential real estate or has at least 50% of its assets invested in such real estate. A common type of real estate company, a REIT, is a domestic corporation that pools investors' funds for investment primarily in income-producing real estate or in real estate related loans (such as mortgages) or other interests. Therefore, a REIT normally derives its income from rents or from interest payments and may realize capital gains by selling properties that have appreciated in value. A REIT is not taxed on income distributed to its shareholders if it complies with several requirements of the Internal Revenue Code of 1986, as amended (the "Code"). As a result, REITs tend to pay relatively high dividends (as compared to other types of companies), and the Trust intends to use these REIT dividends in an effort to meet its primary objective of high current income.

Global real estate companies outside the U.S. include, but are not limited to, companies with similar characteristics to the REIT structure, in which revenue primarily consists of rent derived from owned, income-producing real estate properties, dividend distributions as a percentage of taxable net income are high (generally greater than 80%), debt levels are generally conservative and income derived from development activities is generally limited.

The Trust may invest in securities of foreign issuers in the form of American Depositary Receipts ("ADRs") and European Depositary Receipts ("EDRs").

The Trust may engage in foreign currency transactions, including foreign currency forward contracts, options, swaps, and other strategic transactions in connection with its investments in foreign Real Estate Equity Securities. Although not intended to be a significant element in the Trust's investment strategy, from time to time the Trust may use various other investment management techniques that also involve certain risks and special considerations, including engaging in interest rate transactions and short sales.

The Trust will invest in Real Estate Equity Securities where dividend distributions are subject to withholding taxes as determined by United States tax treaties with respective individual foreign countries.

Risk factors

The Trust is a diversified, closed-end management investment company designed primarily as a long-term investment and not as a trading vehicle. The Trust is not intended to be a complete investment program and, due to the uncertainty inherent in all investments, there can be no assurance that the Trust will achieve its investment objectives. Your common shares at any point in time may be worth less than you invested, even after taking into account the reinvestment of Trust dividends and distributions.

GENERAL REAL ESTATE RISKS

Because the Trust concentrates its assets in the global real estate industry, your investment in the Trust will be closely linked to the performance of the global real estate markets. Property values may fall due to increasing vacancies or declining rents resulting from economic, legal, cultural or technological developments. The price of real estate company shares may drop because of falling property values, increased interest rates, poor management of the company or other factors. Many real estate companies utilize leverage, which increases investment risk and could adversely affect a company's operations and market value in periods of rising interest rates.

There are also special risks associated with particular sectors of real estate investments.

Other factors that may contribute to the riskiness of all real estate investments include:

Stock Market Risks A portion of your investment in common shares represents an indirect investment in equity securities owned by the Trust, substantially all of which are traded on a domestic or foreign securities exchange or in the

over-the-counter markets. The value of these securities, like other stock market investments, may move up or down, sometimes rapidly and unpredictably.

Common Stock Risk While common stock has historically generated higher average returns than fixed income securities, common stock has also experienced significantly more volatility in those returns. An adverse event, such as an unfavorable earnings report, may depress the value of common stock held by the Trust. Also, the price of common stock is sensitive to general movements in the stock market. A drop in the stock market may depress the price of common stock held by the Trust.

Foreign Securities Risks Although it is not the Trust's current intent, the Trust may invest up to 100% of its total assets in real estate securities of non-U.S. issuers or that are denominated in various foreign currencies or multinational currency units ("Foreign Securities"). Such investments involve certain risks not involved in domestic investments. Securities markets in certain foreign countries are not as developed, efficient or liquid as securities markets in the United States. Therefore, the prices of Foreign Securities often are volatile. In addition, the Trust will be subject to risks associated with adverse political and economic developments in foreign countries, which could cause the Trust to lose money on its investments in Foreign Securities. The Trust may hold any Foreign Securities of issuers in so-called "emerging markets" which may entail additional risks.

Foreign Currency Risk Although the Trust will report its net asset value and pay dividends in U.S. dollars, Foreign Securities often are purchased with and make interest payments in foreign currencies. Therefore, when the Trust invests in Foreign Securities, it will be subject to foreign currency risk, which means that the Trust's net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Certain foreign countries may impose restrictions on the ability of issuers of Foreign Securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.

Emerging Markets Risks The Trust may invest in Real Estate Equity Securities of issuers located or doing substantial business in "emerging markets." Because of less developed markets and economies and, in some countries, less mature governments and governmental institutions, the risks of investing in foreign securities can be intensified in the case of investments in issuers domiciled or doing substantial business in emerging market countries. These risks include high concentration of market capitalization and trading volume in a small number of issuers representing a limited number of industries, as well as a high concentration of investors and financial intermediaries; political and social uncertainties; over-dependence on exports, especially with respect to primary commodities, making these economies vulnerable to changes in commodity prices; overburdened infrastructure and obsolete or unseasoned financial systems; environmental problems; less developed legal systems; and less reliable custodial services and settlement practices.

Leverage Risk The use of leverage through the use of debt creates an opportunity for increased common share net investment income dividends, but also creates risks for the holders of common shares. The Trust's leveraging strategy may not be successful. Leverage creates two major types of risks for the holders of common shares:

Small Cap Risk The Trust may invest in Real Estate Equity Securities of smaller companies which may entail additional risks. There may be less trading in a smaller company's stock, which means that buy and sell transactions in that stock could have a larger impact on the stock's price than is the case with larger company stocks. Smaller companies also may have fewer lines of business so that changes in any one line of business may have a greater impact on a smaller company's stock price than is the case for a larger company. Further, smaller company stocks may perform in different cycles than larger company stocks.

Accordingly, shares of these companies can be more volatile than, and at times will perform differently from, large company stocks such as those found in the Dow Jones Industrial Average. In addition, there are relatively few REITs when compared to other types of companies. Even the larger global real estate companies tend to be small to medium-sized companies in comparison to many industrial and service companies.

Illiquid Securities The Trust may invest up to 15% of its total assets in illiquid securities. Illiquid securities are securities that are not readily marketable and may include some restricted securities, which are securities that may not be resold to the public without an effective registration statement under the Securities Act of 1933, (the "Securities Act") or, if they are unregistered, may be sold only in a privately negotiated transaction or pursuant to an exemption from registration. Illiquid investments involve the risk that the securities will not be able to be sold at the time desired by the Trust or at prices approximating the value at which the Trust is carrying the securities on its books.

Lower-Rated Securities The Trust will not invest more than 20% of its total assets in preferred securities rated below investment grade or unrated and considered by the Adviser to be of comparable quality.

The values of lower-rated securities often reflect individual corporate developments and have a higher sensitivity to economic changes than do higher rated securities. Issuers of lower-rated securities are often in the growth stage of their development and/or involved in a reorganization or takeover. The companies are often highly leveraged (have a significant amount of debt relative to shareholders' equity) and may not have available to them more traditional financing methods, thereby increasing the risk associated with acquiring these types of securities. In some cases, obligations with respect to lower-rated securities are subordinated to the prior repayment of senior indebtedness, which will potentially limit the Trust's ability to fully recover principal or to receive interest payments when senior securities are in default. Thus, investors in lower-rated securities have a lower degree of protection with respect to principal and interest payments than do investors in higher rated securities.

During an economic downturn, a substantial period of rising interest rates or a recession, issuers of lower-rated securities may experience financial distress possibly resulting in insufficient revenues to meet their principal and interest payment obligations, to meet projected business goals and to obtain additional financing. An economic downturn could also disrupt the market for lower-rated securities and adversely affect the ability of the issuers to repay principal and interest. If the issuer of a security held by the Trust defaults, the Trust may not receive full interest and principal payments due to it and could incur additional expenses if it chose to seek recovery of its investment.

Interest Rate Risk Interest rate risk is the risk that fixed income investments such as preferred securities, and to a lesser extent dividend-paying common stocks such as REIT common stocks, will decline in value because of changes in market interest rates. When market interest rates rise, the market value of such securities generally will fall. The Trust's investment in such securities means that the net asset value and market price of its common shares will tend to decline if market interest rates rise. Because market interest rates are currently near their lowest levels in many years, there is a greater than normal risk that the Trust's portfolio will decline in value due to rising interest rates. Your common shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Trust dividends and distributions. The Trust utilizes leverage, which magnifies interest rate risk.

Strategic Transactions For general portfolio management purposes, the Trust may use various other investment management techniques that also involve certain risks and special considerations, including engaging in hedging and risk management transactions, including interest rate swaps and options and foreign currency transactions. These strategic transactions will be entered into to seek to manage the risks of the Trust's portfolio of securities, but may have the effect of limiting the gains from favorable market movements.

Inflation Risk Inflation risk is the risk that the value of assets or income from investments will be worth less in the future as inflation decreases the value of money. As inflation increases, the real value of the common shares and distributions can decline and the dividend payments in respect of preferred shares, if any, or interest payments on any borrowings may increase.

Deflation Risk Deflation risk is the risk that the Trust's dividends may be reduced in the future as lower prices reduce interest rates and earning power, resulting in lower distributions on the assets owned by the Trust.

Market Discount Risk Shares of closed-end management investment companies frequently trade at a discount from their net asset value. This characteristic is a risk separate and distinct from the risk that the Trust's net asset value could decrease as a result of Trust investment activities and may be greater for investors expecting to sell their shares in a relatively short period

following the offering of Preferred Shares. Whether investors will realize gains or losses upon the sale of the shares will depend not upon the Trust's net asset value but entirely upon whether the market price of the shares at the time of sale is above or below the investor's purchase price for the shares. Because the market price of the shares will be determined by factors such as relative supply of and demand for shares in the market, general market and economic conditions, and other factors beyond the control of the Trust, we cannot predict whether the shares will trade at, below or above net asset value, or at, below or above the initial public offering price.

Investment Risk An investment in the Trust is subject to investment risk, including the possible loss of the entire principal amount that you invest.

Anti-Takeover Provisions The Trust's Amended and Restated Agreement and Declaration of Trust (the "Agreement and Declaration of Trust") includes provisions that could limit the ability of other entities or persons to acquire control of the Trust or convert the Trust to open-end status. These provisions could deprive the holders of common shares of opportunities to sell their common shares at a premium over the then current market price of the common shares or at net asset value. In addition, if the Trust issues Preferred Shares, the holders of the Preferred Shares will have voting rights that could deprive holders of common shares of such opportunities.

Market Disruption Risk A disruption of the U.S. or world financial markets could impact interest rates, auctions, secondary trading, ratings, credit risk, inflation and other factors relating to the common shares.

Concentration Risk The Trust invests a substantial portion of its assets ("concentrates") in a particular market, industry, group of industries, country, region, group of countries, asset class or sector generally is subject to greater risk than a portfolio that invests in a more diverse investment portfolio. In addition, the value of the Trust's portfolio is more susceptible to any single economic, market, political or regulatory occurrence affecting, for example, that particular market, industry, region or sector. This is because, for example, issuers in a particular market, industry, region or sector often react similarly to specific economic, market, regulatory, or political developments.

Financial

Statements

Portfolio of Investments (unaudited)

June 30, 2026

Shares														Market value
								Real Estate Securities* - 145.5%
								Common Stock - 137.8%
								Australia - 8.4%
	551,090							Charter Hall Group						$	8,727,825
	1,105,903							Goodman Group							23,850,827
	2,514,808							GPT Group (The)							8,502,212
	295,024							NEXTDC Ltd. (a)							2,980,040
	2,596,998							Scentre Group							6,944,903
	3,901,625							Vicinity Ltd.							6,973,849
															57,979,656
								Belgium - 2.3%
	123,474							Aedifica SA							9,966,461
	241,886							Warehouses De Pauw CVA							6,100,662
															16,067,123
								Canada - 1.7%
	176,498							Canadian Apartment Properties REIT							4,339,207
	939,900							H&R Real Estate Investment Trust							7,274,081
															11,613,288
								France - 6.1%
	114,542							Carmila SA							2,179,108
	339,819							Klepierre SA							14,211,898
	220,201							Unibail-Rodamco-Westfield							25,792,414
															42,183,420
								Germany - 1.1%
	75,444							LEG Immobilien SE							4,765,601
	189,168							TAG Immobilien AG							3,051,655
															7,817,256
								Hong Kong - 5.7%
	394,000							CK Asset Holdings Ltd.							2,219,690
	4,706,470							Link REIT							21,905,772
	728,000							Sun Hung Kai Properties Ltd.							10,425,131
	1,985,210							Swire Properties Ltd.							5,199,688
															39,750,281

Shares														Market value
								Japan - 8.5%
	9,417							Activia Properties, Inc.						$	7,943,828
	7,321							AEON REIT Investment Corp.							5,540,581
	8,994							KDX Realty Investment Corp.							8,572,039
	10,619							LaSalle Logiport REIT							9,539,296
	213,900							Mitsubishi Estate Co. Ltd.							5,455,256
	1,681,100							Mitsui Fudosan Co. Ltd.							15,505,116
	256,500							Sumitomo Realty & Development Co. Ltd.							5,904,116
															58,460,232
								Singapore - 3.9%
	1,585,792							CapitaLand Ascendas REIT							3,052,783
	13,702,944							CapitaLand China Trust							6,886,168
	4,325,500							CapitaLand Integrated Commercial Trust							7,925,652
	1,187,100							CapitaLand Investment Ltd.							2,285,267
	408,400							City Developments Ltd.							2,453,336
	5,878,600							Frasers Logistics & Commercial Trust							4,385,828
															26,989,034
								Sweden - 2.1%
	1,109,753							Castellum AB							14,596,959
								United Kingdom - 5.9%
	2,598,836							Land Securities Group PLC							22,454,903
	2,079,232							LondonMetric Property PLC							5,196,424
	714,271							Safestore Holdings PLC							5,811,321
	3,441,677							Tritax Big Box REIT PLC							7,372,673
															40,835,321
								United States - 92.1%
	178,107							Alexandria Real Estate Equities, Inc.							9,412,955
	191,476							American Healthcare REIT, Inc.							9,985,473
	209,073							American Tower Corp.							34,198,071
	600,397							Americold Realty Trust, Inc.							9,438,241
	132,817							AvalonBay Communities, Inc.							25,061,240
	505,086							Blackstone Digital Infrastructure Trust, Inc. (a)							10,925,010

See notes to financial statements

Portfolio of Investments (unaudited) continued

Shares														Market value
								United States (continued)
	581,556							Brixmor Property Group, Inc.						$	18,336,461
	298,054							Broadstone Net Lease, Inc., Class A							6,160,776
	659,781							CubeSmart							26,239,490
	95,554							EastGroup Properties, Inc.							19,352,552
	640,539							Empire State Realty Trust, Inc., Class A							3,465,316
	68,621							Equinix, Inc.							71,529,844
	395,638							Essential Properties Realty Trust, Inc.							11,809,794
	31,700							Essex Property Trust, Inc.							9,243,403
	159,417							Extra Space Storage, Inc.							23,163,290
	106,321							Federal Realty Investment Trust							13,124,264
	291,460							First Industrial Realty Trust, Inc.							17,869,413
	251,920							Gaming and Leisure Properties, Inc.							11,217,998
	185,251							Getty Realty Corp.							6,179,973
	418,300							Independence Realty Trust, Inc.							6,981,427
	435,438							Invitation Homes, Inc.							13,154,582
	62,794							Iron Mountain, Inc.							7,931,510
	276,938							Janus Living, Inc., Class A-1							7,959,198
	171,316							Lineage, Inc.							7,409,417
	310,712							Macerich Co. (The)							7,826,835
	696,892							Piedmont Realty Trust, Inc. (a)							6,376,562
	203,703							Regency Centers Corp.							16,243,277
	572,115							Rexford Industrial Realty, Inc.							19,165,853
	44,927							Simon Property Group, Inc.							10,047,924
	273,255							STAG Industrial, Inc.							10,400,085
	262,148							Sun Communities, Inc.							31,434,167
	1,408,200							Sunstone Hotel Investors, Inc.							16,123,890
	388,597							UDR, Inc.							15,512,792
	179,968							Ventas, Inc.							15,981,158
	827,239							VICI Properties, Inc.							21,963,196
	137,828							Vornado Realty Trust							5,416,640
	358,312							Welltower, Inc.							81,326,075
															637,968,152
								Total Common Stock
								(cost $1,113,715,405)							954,260,722

Shares														Market value
								Preferred Stock - 7.7%
								United States - 7.7%
	245,403							Digital Realty Trust, Inc., Series J, 5.250%						$	4,903,152
	301,100							Digital Realty Trust, Inc., Series L, 5.200%							5,922,637
	282,200							Federal Realty Investment Trust, Series C, 5.000%							5,548,052
	383,644							Pebblebrook Hotel Trust, Series E, 6.375%							7,473,385
	541,950							Pebblebrook Hotel Trust, Series F, 6.300%							10,524,669
	262,125							Pebblebrook Hotel Trust, Series G, 6.375%							5,155,999
	143,517							Rexford Industrial Realty, Inc., Series B, 5.875%							3,147,328
	287,077							Summit Hotel Properties, Inc., Series E, 6.250%							5,015,235
	265,000							Sunstone Hotel Investors, Inc., Series H, 6.125%							5,763,750
								Total Preferred Stock
								(cost $61,205,708)							53,454,207
								Total Investments - 145.5%
								(cost $1,174,921,113)							1,007,714,929
								Liabilities in Excess of Other Assets - (45.5)%							(315,142,681	)
								Net Assets - 100.0%						$	692,572,248

See notes to financial statements

Portfolio of Investments (unaudited) concluded

Securities Valuation

The following is a summary of various inputs used in determining the value of the Trust's investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical investments. Level 2 includes other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Trust's own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

The following is a summary of inputs used as of June 30, 2026. For information on the Trust's policy regarding the valuation of investments, please refer to the Security Valuation section of Note 2 in the accompanying Notes to Financial Statements.

See notes to financial statements

Statement of Assets and Liabilities (unaudited)

See notes to financial statements

Statement of Operations (unaudited)

See notes to financial statements

Statements of Changes in Net Assets

Character of current-year distributions is based on year-to-date income and capital gains information. Amounts are subject to re-characterization at year-end when actual information on characterization is obtained.

See notes to financial statements

Statement of Cash Flows (unaudited)

See notes to financial statements

Financial Highlights

See notes to financial statements

Notes to Financial

Statements (unaudited)

Notes to Financial Statements (unaudited)

CBRE Global Real Estate Income Fund (the "Trust") is a diversified, closed-end management investment company that was organized as a Delaware statutory trust on November 6, 2003 and registered with the Securities and Exchange Commission ("SEC") under the Investment Company Act of 1940, as amended. The Trust is an investment company and accordingly follows the Investment Company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946 Financial Services-Investment Companies. CBRE Investment Management Listed Real Assets LLC (the "Adviser") is the Trust's investment adviser. The Adviser is a majority-owned subsidiary of CBRE Group, Inc. ("CBRE") and is partially owned by its senior management team. The Trust commenced operations on February 18, 2004.

The following accounting policies are in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and are consistently followed by the Trust.

Securities Valuation

The net asset value of the common shares of the Trust will be computed based upon the value of the Trust's portfolio securities and other assets. The Trust calculates net asset value per common share by subtracting the Trust's liabilities (including accrued expenses, dividends payable and any borrowings of the Trust) and the liquidation value of any outstanding preferred shares from the Trust's total assets (the value of the securities the Trust holds, plus cash and/or other assets, including dividends accrued but not yet received) and dividing the result by the total number of common shares of the Trust outstanding. Net asset value per common share will be determined as of the close of the regular trading session (usually 4:00 p.m., EST) on the New York Stock Exchange ("NYSE") on each business day on which the NYSE is open for trading.

For purposes of determining the net asset value of the Trust, readily marketable portfolio assets (including common stock, preferred stock, and options) traded principally on an exchange, or on a similar regulated market reporting contemporaneous transaction prices, are valued, except as indicated below, at the last sale price for such assets on such principal markets on the business day on which such value is being determined. If there has been no sale on such day, the securities are valued at the mean of the closing bid and ask prices on such day. Foreign securities are valued based upon quotations from the primary market in which they are traded and are translated from the local currency into U.S. dollars using current exchange rates.

During the period that a forward foreign currency contract is open, changes in the value of the contract are recognized as unrealized appreciation or depreciation by marking to market such contract on a daily basis to reflect the market value of the contract at the end of each day's trading. Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Trust's Board of Trustees (the "Board").

Short-term securities which mature in more than 60 days are valued at current market quotations. Short-term securities, which mature in 60 days or less, are valued at amortized cost, which approximates market value.

U.S. GAAP provides guidance on fair value measurements. In accordance with the standard, fair value is defined as the price that the Trust would receive to sell an investment or pay to transfer a liability in a timely transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. It establishes a single definition of fair value, creates a three-tier hierarchy as a framework for measuring fair value based on inputs used to value the Trust's investments, and requires additional disclosure about fair value.

For Level 1 inputs, the Trust uses unadjusted quoted prices in active markets for assets or liabilities with sufficient frequency and volume to provide pricing information as the most reliable evidence of fair value.

The Trust's Level 2 valuation techniques include inputs other than quoted prices within Level 1 that are observable for an asset or liability, either directly or indirectly. Level 2 observable inputs may include quoted prices for similar assets and liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are not active in which there are few

Notes to Financial Statements (unaudited) continued

transactions, the prices are not current, or price quotations vary substantially over time or among market participants. Inputs that are observable for the asset or liability in Level 2 include such factors as interest rates, yield curves, prepayment spreads, credit risk, and default rates for similar liabilities.

For Level 3 valuation techniques, the Trust uses unobservable inputs that reflect assumptions market participants would be expected to use in pricing the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available and are developed based on the best information available under the circumstances. In developing unobservable inputs, market participant assumptions are used if they are reasonably available without undue cost and effort.

The primary third-party pricing vendor for the Trust's listed preferred stock investments is FT Interactive Data ("IDC"). When available, the Trust will obtain a closing exchange price to value the preferred stock investments and, in such instances, the investment will be classified as Level 1 since an unadjusted quoted price was utilized. When a closing price is not available for the listed preferred stock investments, IDC will produce an evaluated mean price (midpoint between the bid and the ask evaluation) and such investments will be classified as Level 2 since other observable inputs were used in the valuation. Factors used in the IDC evaluation include trading activity, the presence of a two-sided market, and other relevant market data.

Pursuant to the Trust's fair value procedures noted previously, equity securities (including exchange traded securities and open-end regulated investment companies) and exchange traded derivatives (i.e. futures contracts and options) are generally categorized as Level 1 securities in the fair value hierarchy. Fixed income securities, non-exchange traded derivatives and money market instruments are generally categorized as Level 2 securities in the fair value hierarchy. Investments for which there are no such quotations, or for which quotations do not appear reliable, are valued at fair value as determined in accordance with procedures established by and under the general supervision of the Trustees. These valuations are typically categorized as Level 2 or Level 3 securities in the fair value hierarchy.

For the period ended June 30, 2026, there have been no significant changes to the Trust's fair valuation methodology.

Foreign currency translation

The books and records of the Trust are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars on the following basis: