Griffin Institutional Access Real Estate Fund Announces Second Quarter Distribution
24 Juni 2016 - 9:29PM
Griffin Capital Corporation announced today on behalf of Griffin
Institutional Access Real Estate Fund (NASDAQ:GIREX) (NASDAQ:GCREX)
(NASDAQ:GRIFX) the second quarter distribution of $0.350 for Class
A, $0.348 for Class C, and $0.351 for Class I, or a 5.22%
annualized distribution rate. The distribution will be payable on
June 30, 2016 to shareholders of record as of June 22, 2016, with
an ex-dividend date of June 23, 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. The Fund began reporting on NASDAQ on
June 30, 2014 with an initial share price of $25.00 and reported a
share price of $26.82 for Class A, $26.67 for Class C, and $26.88
for Class I as of June 22, 2016. The advisor of the Fund is Griffin
Capital Advisor, LLC, a majority owned subsidiary of 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 54 million square feet of space since 1995. Griffin
Capital and its affiliates own, manage, sponsor and/or co-sponsor a
portfolio consisting of approximately 36 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, as of May 19, 2016.
*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 5/31/16 the Fund's annualized return since
inception for Class A shares at net asset value ("NAV") was
8.45%. 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.
Distribution Policy Risk. The Fund’s
distribution policy is to make quarterly distributions to
shareholders. All or a portion of a distribution may consist solely
of a return of capital (i.e. from your original investment) and not
a return of net profit. Shareholders should not assume that the
source of a distribution from the Fund is net profit. Shareholders
should note that return of capital will reduce the tax basis of
their shares and potentially increase the taxable gain, if any,
upon disposition of their shares. 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.
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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