Griffin Institutional Access Real Estate Fund Announces Record and Payable Dates for Q4 2014 Dividend
Los Angeles, CA – (December 18, 2014) Griffin Institutional Access Real Estate Fund (“GIREX”), is pleased to announce that the fourth quarter dividend will be paid on Wednesday December 31, 2014 to shareholders of record at the close of business on Monday, December 22, 2014. This represents the second consecutive quarterly distribution since GIREX commenced reporting on NASDAQ on June 30, 2014.
Dr. Randy I. Anderson, Portfolio Manager of GIREX said, “We are pleased with the continued growth of GIREX and with the success in delivering on our stated investment objective of generating both income and capital appreciation with moderate volatility and low correlation to the broad markets.”
About Griffin Institutional Access Real Estate Fund and Griffin Capital Corporation
Griffin Institutional Access Real Estate Fund (NASDAQ: GIREX), a closed-end, interval fund registered under the Investment Company Act of 1940, is an actively-managed portfolio of private real estate funds and public real estate securities offering daily pricing and periodic liquidity at net asset value. GIREX began reporting on NASDAQ on June 30, 2014 with an initial share price of $25.00 and reported a share price of $25.85 as of December 17, 2014. The advisor of GIREX is Griffin Capital Advisor, LLC, a majority owned subsidiary of Griffin Capital Corporation. Griffin Capital Corporation is a privately-owned real estate company headquartered in Los Angeles, that, together with affiliates, has acquired or constructed over 32 million square feet of space since 1995, and currently owns, manages, sponsors and/or co-sponsors an institutional-quality portfolio of approximately 18 million square feet located in 21 states, representing approximately $2.7 billion in asset value as of December 16, 2014. Additional information about Griffin Capital Corporation is available at www.griffincapital.com.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Griffin Institutional Access Real Estate Fund (GIREX). This and other important information about the Fund is contained in the prospectus, which can be obtained by contacting your financial advisor or visiting www.griffincapital.com. The prospectus should be read carefully before investing.
Griffin Institutional Access Real Estate Fund Risk Considerations
As of 09/30/14 the fund has returned 2.46%. The GIREX inception date was 6/30/2014. GIREX gross expense ratio is 2.63%. Performance data quoted represents past performance. Past performance is no guarantee of future results and investment returns and principal value of the Fund will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. Call 1-949-270-9300 for current month end performance. The maximum sales charge is 5.75%. Purchases of $1,000,001 or more may be subject to a contingent deferred sales charge on shares redeemed during the first 365 days after their purchase. GIREX has contractually agreed to waive its fees to the extent that they exceed 1.91% until June 30, 2015. Without the waiver the expenses would have been higher. The NAV fund return does not reflect the deduction of all fees and if the fund return reflected the deduction of such fees, the performance would be lower.
GIREX will not invest in real estate directly, but, because the Fund will concentrate its investments in securities of REITs and other real estate industry issuers, its portfolio will be significantly impacted by the performance of the real estate market and may experience more volatility and be exposed to greater risk than a more diversified portfolio. The value of companies engaged in the real estate industry is affected by: (i) changes in general economic and market conditions; (ii) changes in the value of real estate properties; (iii) risks related to local economic conditions, overbuilding and increased competition; (iv) increases in property taxes and operating expenses; (v) changes in zoning laws; (vi) casualty and condemnation losses; (vii) variations in rental income, neighborhood values or the appeal of property to tenants; (viii) the availability of financing and (ix) changes in interest rates and leverage.
Investors in GIREX should understand that the net asset value (“NAV”) of GIREX will fluctuate, which may result in a loss of the principal amount invested. GIREX is new with limited operating history. GIREX is a closed-end interval fund that provides liquidity to shareholders quarterly between five percent and 25 percent of its outstanding shares at net asset value. The distribution paid includes return of capital.
Opinions expressed are current opinions as of the date appearing in this material only. No part of this material may, without the prior written consent of Griffin Capital, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient.
GIREX is distributed by ALPS Distributors, Inc. ALPS Distributors, Inc. is not affiliated with either Griffin Capital or any of its affiliates.