Griffin Institutional Access Real Estate Fund Surpasses $1 Billion in AUM
20 Settembre 2016 - 2:00PM
Griffin Capital Corporation ("Griffin Capital") on behalf of
Griffin Institutional Access Real Estate Fund (NASDAQ:GIREX)
(NASDAQ:GCREX) (NASDAQ:GRIFX) (the "Fund") announced today that the
Fund has exceeded $1 billion in assets under management.
The Fund, which reached this milestone in little more than two
years since its launch on June 30, 2014, strategically invests in
an actively managed blend of private institutional real estate
investment funds as well as a diversified set of publicly traded
real estate securities. This combination has proven over long
periods of time to provide both durable current income and capital
appreciation, with moderate volatility and low correlation to the
broader market.
"We are extremely pleased to have reached this significant
milestone in such a relatively short time period," commented Randy
Anderson, Ph.D., CRE, Portfolio Manager, Griffin Institutional
Access Real Estate Fund. “This rapid growth in assets under
management reflects the strong acceptance of our interval fund
model. Our fund enables individual investors to participate in
institutional real estate investments."
“In today’s volatile market environment,” Anderson continued,
“the pressing need for individual investors to find strong
risk-adjusted returns is more imperative than ever. Our strong
performance since inception has validated GIREX’s exceptional
investment strategy.”
Kevin Shields, Griffin Capital’s Chairman and CEO added, “We're
proud of the enormous support we've received from our distribution
partners, especially financial advisors, broker-dealers and RIA
firms, all of whom have helped the Fund to grow since its
inception. The strong growth of our assets under management will
enable the Fund to take advantage of increasing efficiencies and
economies of scale that ultimately benefit the Fund's investors.
This will likely continue to make Griffin Institutional Access Real
Estate Fund a leader in the alternative investment space."
About Griffin Institutional Access Real Estate
FundGriffin 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 will make quarterly offers to repurchase between five percent
and 25 percent of its outstanding shares at net asset value. The
Fund requires a minimum investment of $2,500 for regular accounts
and $1,000 for retirement plan accounts. GIREX began reporting on
NASDAQ on June 30, 2014 with an initial share price of $25.00 and
reported a share price of $26.87 for Class A, $26.67 for Class C,
and $26.95 for Class I as of September 19, 2016. The advisor of the
Fund is Griffin Capital Advisor, LLC, a majority owned subsidiary
of Griffin Capital Corporation. To learn more about the Fund, go
to:
www.griffincapital.com/griffin-institutional-access-real-estate-fund.
About Griffin Capital Corporation Griffin
Capital Corporation ("Griffin Capital"), is a privately held, Los
Angeles headquartered investment and asset management company with
a 21-year track record sponsoring real estate investment vehicles
and managing institutional capital. Led by senior executives with
more than two decades of real estate experience who have
collectively closed transactions representing over $22.0 billion in
value, Griffin Capital and its affiliates have acquired or
constructed approximately 56 million square feet of space since
1995. Griffin Capital and its affiliates own, manage, sponsor
and/or co-sponsor a portfolio consisting of approximately 38*
million square feet of space, located in 30 states and the United
Kingdom, representing approximately $6.8* billion
in asset value, based on purchase price, as of August 2, 2016.
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 8/31/16, the Fund's annualized return
since inception for Class A shares was 8.43%. The Fund's inception
date was 6/30/2014. The total gross expense ratio is 2.29% for
Class A, 3.04% for Class C, 2.04% 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 January 31,
2017. 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.
Media Contacts
Jennifer Nahas
Vice President, Marketing
Griffin Capital Corporation
949-270-9332
jnahas@griffincapital.com
Matthew Griffes / Joseph Kuo
Haven Tower Group LLC
424 652 6520, ext. 103 / 424 652 6520, ext 101
mgriffes@haventower.com or jkuo@haventower.com
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