Griffin Institutional Access Real Estate Fund Surpasses $1.7 Billion in AUM
EL SEGUNDO, CA, May 18, 2017 – Griffin Capital Company, LLC, (“Griffin Capital”) on behalf of Griffin Institutional AccessTM Real Estate Fund (NASDAQ: GIREX, GCREX, GRIFX; the “Fund”) announced today that the Fund has exceeded $1.7 billion in assets under management.
Randy I. Anderson, Ph.D., CRE, Portfolio Manager of the Griffin Institutional Access Real Estate Fund, said “We’re very pleased to have reached this important milestone after just three years since the Fund’s inception. Retail investors and the financial advisors who support them clearly appreciate our Fund’s focus on generating consistent capital growth with current income, while maintaining moderate volatility and low correlation to the broader market through unique private and public real estate assets under our active management. We’re looking forward to continuing to drive the ongoing success of our Fund.”
Investing in the Fund can be easily implemented through many major broker-dealer and RIA platforms through electronic order entry by financial advisors on behalf of their retail end clients. The Fund is a 1940 Act, closed-end interval fund that continuously offers its shares on a daily basis, offering daily purchases, and requires a minimum investment of $2,500 for regular accounts and $1,000 for retirement plan accounts. To provide liquidity to shareholders, the Fund will make quarterly offers to repurchase between five percent and 25 percent of its outstanding shares at net asset value.
About Griffin Institutional Access Real Estate Fund
Griffin Institutional Access Real Estate Fund (the “Fund,” tickers: GIREX, GCREX, GRIFX), 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, diversified by property type and geography, 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 $26.62 for Class A, $26.28 for Class C, and $26.74 for Class I as of May 17, 2017. The advisor of the Fund is Griffin Capital Advisor, LLC, a majority owned subsidiary of Griffin Capital Company, LLC. To learn more about the Fund, go to:
About Griffin Capital Company, LLC
Griffin Capital Company, LLC (f/k/a Griffin Capital Corporation) (“Griffin Capital”), is a privately held, Los Angeles headquartered investment and asset management company with a 22-year track record sponsoring real estate investment vehicles and managing institutional capital. Led by senior executives each with over two decades of real estate experience collectively encompassing over $22 billion of transaction value and more than 650 transactions, Griffin Capital and its affiliates have acquired or constructed approximately 58.4 million square feet of space since 1995. Griffin Capital and its affiliates own, manage, sponsor and/or co-sponsor a portfolio consisting of approximately 42 million square feet of space, located in 30 states and the United Kingdom, representing approximately $7.8 billion* in asset value, based on purchase price, as of March 31, 2017. Additional information about Griffin Capital is available at www.griffincapital.com.
*Includes the property information related to interests held in certain joint ventures.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Griffin Institutional Access Real Estate Fund (the “Fund”). 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 April 30, 2017 the Fund’s annualized return since inception for Class A shares at net asset value (“NAV”) was 7.43%. The Fund’s inception date was 6/30/2014. The total gross expense ratio is 2.42% for Class A, 3.17% for Class C, and 2.17% for Class I. 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. The maximum sales charge is 5.75% for Class A shares. Class C shareholders may be subject to a contingent deferred sales charge equal to 1.00% of the original purchase price of Class C shares redeemed during the first 365 days after their purchase. The Fund has contractually agreed to waive its fees to the extent that they exceed 1.91% for Class A, 2.66% for Class C, and 1.66% for Class I until February 1, 2018. Without the waiver the expenses would have been higher. The net asset value 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. Visit www.griffincapital.com for current performance.
The Fund will not invest in real estate directly, but, because the Fund will concentrate its investments in securities of REITs (real estate investment trusts) 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 the Fund should understand that the NAV of the Fund will fluctuate, which may result in a loss of the principal amount invested. The Fund provides liquidity to shareholders quarterly between 5% and 25% of its outstanding shares at net asset value.
Griffin Institutional Access Real Estate Fund is distributed by ALPS Distributors, Inc. ALPS Distributors, Inc. is not affiliated with either Griffin Capital or any of its affiliates.