Griffin Institutional Access Real Estate Fund Announces First Quarter Distribution
24 März 2016 - 8:52PM
Griffin Capital Corporation announced today on behalf of Griffin
Institutional Access Real Estate Fund (NASDAQ:GIREX) (NASDAQ:GCREX)
(NASDAQ:GRIFX) the first quarter distribution of $0.34739 for Class
A, $0.34596 for Class C, and $0.34791 for Class I, or a 5.22%
annualized distribution rate. The distribution will be payable on
March 31, 2016 to shareholders of record as of March 23, 2016, with
an ex-dividend date of March 24, 2016.
To learn more about Griffin Institutional Access
Real Estate Fund, go to:
https://www.griffincapital.com/griffin-institutional-access-real-estate-fund
About Griffin Institutional Access Real
Estate Fund and Griffin Capital Corporation
Griffin Institutional Access Real Estate Fund (the
"Fund") (NASDAQ:GIREX) (NASDAQ:GCREX) (NASDAQ: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, $26.51 for Class C, and $26.66 for Class I as
of March 23, 2016. The advisor of the Fund 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. Led by senior
executives with more than 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 53.5 million square feet of
space since 1995. As of January 26, 2016, Griffin Capital and its
affiliates manage, sponsor and/or co-sponsor a portfolio consisting
of approximately 36.6* million square feet of space, located in 29
states and the United Kingdom, representing approximately $6.3*
billion in asset value, based on purchase price. Additional
information 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 12/31/15 the Fund's annualized return since
inception for Class A shares at net asset value ("NAV") was
8.33%. The Fund's inception date was 6/30/2014. The total
gross expense ratio is 2.68% for Class A, 3.43% for Class C, 2.43%
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 distribution rate is the amount, expressed
as a percentage, a Fund investor would receive in distributions if
the most recent Fund distribution stayed consistent going forward.
It is calculated by annualizing the most recent Fund distribution
yield. The percentage represents a single distribution from the
Fund and does not represent the total return of the Fund.
The Fund 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 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.
Sources of distributions to shareholders for tax
reporting purposes will depend upon the Fund’s investment
experience during the remainder of its fiscal year and may be
subject to changes based on tax regulations. Pursuant to Section
852 of the Internal Revenue Code, the taxability of distributions
will be reported on Form 1099-DIV for 2016.
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.
Jennifer Nahas
Vice President, Marketing
Griffin Capital Corporation
jnahas@griffincapital.com
949-270-9332
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