Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. By investment grade we mean that we intend to invest in properties leased to blue chip tenants and/ or companies with investment grade credit ratings. Non-traded REIT investors should expect to hold on to their investments for years. Griffin Capital Company, LLC (Griffin Capital) is a vertically-integrated real estate investment company focused on bespoke investment strategies underpinned by durable secular growth themes as a catalyst for creating strong, risk-adjusted performance. The transaction, when combined with the existing Workspace portfolio . Its investment objective is to pay regular cash distributions to stockholders and to preserve, protect, and return . All copies must include this copyright statement. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. Griffin Realty Trust uses cookies and processes data like IP-addresses or browser information to help us compile aggregate data about site traffic and site interaction so that we can offer better user experiences. August 8, 2022 Griffin Realty Trust Inc., a publicly registered non-traded real estate investment trust formerly known as Griffin Capital Essential Asset REIT, has reported its "strategic monetization process" that includes spinning off a new public company and liquidating the remaining assets. How to Recover Investment Losses involving Griffin Realty Trust Inc. Our Capabilities GRIFFIN CAPITAL BY THE NUMBERS $ 22 B Owned/Managed/ Sponsored/Co-Sponsored Contact us now for a free consultation! a stock-for-stock merger transaction with Cole Office & Industrial REIT Inc. Written by The White Law Group October 6, 2021 Investors looking to sell often have difficulty finding a buyer, and can suffer significant losses on the sale. PreMarket Prep; Find the data you need, view the source filings, fewer clicks, quicker speeds. Furthermore, the Company disclaims any obligation to publicly update or revise any forward- looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. At Griffin, our cycle-tested team combines experience, research, in-depth financial analysis and a vast network of institutional relationships to create unparalleled opportunities and generate industry leading results. Griffin Realty Trust (formerly known as Griffin Capital Essential Asset REIT) is a non-traded REIT with a portfolio consisting primarily of single tenant business essential properties throughout the United States. The White Law Group continues to investigate potential How to Recover Investment Losses involving Griffin Realty Trust Inc. Griffin Realty Trust, Inc. (GRTA) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021. For almost three decades, Griffin Capital has been committed to providing investors with compelling real estate solutions to meet their financial needs. The . Unfortunately, there are Griffin Realty Trust investors who have reported significant investment losses. In filings with the Securities and Exchange Commission (SEC), Griffin Realty Trust said it was suspending publishing its NAV per share of common stock every quarter because of strategic initiatives.. 2023 Griffin Realty Trust. Written by WP Help September 2, 2022 Information about GRTs directors and executive officers and their ownership of GRT securities is set forth in GRTs definitive proxy statement for the Annual Meeting on Schedule 14A filed with the SEC on August 29, 2022. Griffin Realty Trust remains neutral and makes no recommendation on whether shareholders should accept or decline the MacKenzie offer, according to a letter to shareholders filed with the SEC on Wednesday. Shareholders may not redeem their shares through the REITs share redemption plan except in connection with a shareholders death, qualifying disability or determination of incompetence or incapacitation. Griffin Realty Trusts estimated net asset value (NAV) was $9.04 share. Griffin Realty Trust makes no recommendation on whether shareholders should accept or decline the CMG offer, according to a letter to shareholders filed with the SEC on Friday. The REIT also amended and restated its share redemption program (SRP) and will redeem shares in connection with a stockholders death, qualifying disability or determination of incompetence or incapacitation. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Noncontrolling interests subject to redemption; 556,099 units as of . Youve been a wonderful lawyer and a friend. Investor . Item 1.01. Firms that fail to do so, may be held responsible for any losses. Blue chip companies are well-known publicly traded companies that typically make up the Dow Jones Industrial Average or the S&P 500 Index. Are you concerned about your investment in Griffin Realty Trust Inc.? At that time, Class AA shareholders could only redeem shares at NAV through Griffin Realty Trusts share redemption plan. Username. Blue chip and investment grade descriptions are those of either tenants and/ or guarantors with investment grade credit ratings or whose non-guarantor parent companies have investment grade credit ratings or what management believes are generally equivalent ratings. The initial offering price was $10.00/share. Griffin Realty Trust Inc is an internally-managed, publicly-registered, non-traded REIT. If you have an ad-blocker enabled you may be blocked from proceeding. The CMG offer price of $3.76 per share is approximately 49 percent less than the most recently published NAV for Class E shares of $7.43 as of June 30, 2022. Once these remaining assets have been sold, the company intends to fully liquidate and cease operations.. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington. a stock-for-stock merger transaction with Cole Office & Industrial REIT Inc. and the portfolio now consists of 123 properties with a total asset value of $5.8 billion. estate investment company focused on bespoke investment Contact us now for a free consultation! Among other items, the Board is asking stockholders of the Company to consider and vote on a proposal to approve the conversion of the Company from a Maryland corporation to a Maryland real estate investment trust, in order to allow the Board to pursue the path to liquidity and value maximization that it considers to be in the best interests of stockholders in a manner that does not result in substantial adverse tax consequences to stockholders. With our extensive knowledge and commitment to providing only the best and most timely information to our clients, we are your go-to source for real estate industry insight and advice. These include industrial properties and corporate offices that the company considers credit-worthy. Griffin Realty Trust, Inc. Americas Blue-Chip Landlord is an internally managed, publicly registered, non-traded REIT. This means that every time you visit this website you will need to enable or disable cookies again. Firms that fail to do so, may be held responsible for any losses. Highlights for the Quarter Ended June. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. 149 0 obj <> endobj 217 0 obj <>/Filter/FlateDecode/ID[<5463D9D8FF8B4A4CB41AA2CB29EEA13D><819E60FE17B3436C892F51042F1BABE8>]/Index[149 185]/Info 148 0 R/Length 213/Prev 485544/Root 150 0 R/Size 334/Type/XRef/W[1 3 1]>>stream All product and company names, logos and slogans are the trademarks or service marks of their respective owners. At the time, the current net asset value (NAV) of Class E Common Stock was $8.97/share. Griffin Realty Trust, Inc. ("GRT" or the "Company") announced its results for the quarter ended September 30, 2022. . Griffin estimated that its Net Asset Value was $9.10 per Share, as of June 30, 2021.Shares were originally sold for $10.00 per share. 3,812 . EL SEGUNDO, Calif., November 01, 2022--Griffin Realty Trust, Inc. ("GRT" or the "Company") today announced it has postponed its 2022 annual meeting of stockholders ("Annual Meeting") from November . "Managements Discussion and Analysis of Financial Condition and Results of Operations" of the Companys most recent Annual Report on Form 10-K and Part I, Item 2. Griffin Realty Trust, Inc. Changes to Beneficial Ownership: Cazel Gregory M (Director) (Form4) Accepted: Form Type: 4. According to filings with the SEC, the REIT values its shares at $9.58 as of July 30, 2019. All copies must include this copyright statement. The distribution for September 2021 was to be paid by around October 11, 2021. Griffin Realty Trust Inc. is a publicly registered, non-traded REIT. Accession Number: 0001600626-22-000131. Dedicated to the representation of investors in claims against their financial professional or brokerage firm, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. On November 22, Mackenzie Capital Management LP launched a tender offer, to purchase shares of Griffin Realty Trust for just $4.69 per share, but. By accepting, you are consenting to our use of this technology and the capture of this data. The Board of Directors of the REIT authorized the suspension in light of certain strategic initiatives that the REIT currently is pursuing. This website uses cookies so that we can provide you with the best user experience possible. The trouble with non-traded REITs is that they are complex and inherently risky products. "Risk Factors" and Part II, Item 7. The REITs portfolio currently includes 80 wholly owned office and industrial properties (91 buildings), totaling 21.6 million in rentable square feet, located in 24 states, as well as an equity interest in a joint venture that owns 41 office properties. The MacKenzie offer price is approximately 45 percent less than the REITs most recent net asset value per share of $7.42, as of June 30, 2022. Please click on the highlighted terms to review these. , Inc. is the distributor of the Griffin Institutional Access Credit Fund and the Griffin Institutional Access Real Estate Fund. Cautionary Statement Regarding Forward-Looking Statements. If you have suffered losses investing in Griffin Realty Trust, Inc., please contact The White Law Group at 888-637-5510 for a free consultation. Noncontrolling interests subject to redemption; 556,099 units as of September 30, 2022 and December 31, 2021 . GRTs Board of Directors unanimously recommends thatstockholders vote "FOR" all proposals to be voted on at the Annual Meeting. *Includes Class A, Class AA, and Class AAA, Nominating and Corporate Governance Committee Charter, 1520 E. Grand Ave, El Segundo, CA 90245 | 310-606-3200. The Company owns and operates a . Tender Offer Price Suggests Losses for Investors - Griffin Realty Trust inc. (fka Griffin Capital Essential Asset REIT). . Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. November 15, 2022 Griffin Realty Trust, Inc. Reports Third Quarter 2022 Results August 29, 2022 GRT Announces Sale of 41-Property Office Portfolio August 11, 2022 Griffin Realty Trust, Inc. Reports Second Quarter 2022 Results August 5, 2022 GRT Announces Strategic Monetization Process, Updates Net Asset Value and Reinstates Share Redemption Plan Every subsequent interaction I had with any of you - in person, via email, or by phone - only corroborated that feeling. Griffin Capital Company uses 'cookies' and processes data like IP-addresses or browser information to help us compile aggregate data about site traffic and site interaction so that we can offer better user experiences. Home; About; Portfolio; . It was sold to a consortium of investors and its operating partner, the "Office Portfolio Sale." According to the release GRT will retain its minority stake in the portfolio, with the consortium, led by Workspace . For more Mackenzie Capital Management news, please their directory page. 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