Griffin Institutional Access Real Estate Fund Announces Third Quarter Distribution
2016年9月24日 - 5:14AM
Griffin Capital Corporation announced today on behalf of Griffin
Institutional Access Real Estate Fund (NASDAQ:GIREX) (NASDAQ:GCREX)
(NASDAQ:GRIFX) the third quarter distribution of $0.352 for
Class A, $0.349 for Class C, and $0.353 for Class I, or a 5.22%
annualized distribution rate. The distribution will be payable on
September 30, 2016 to shareholders of record as of September 22,
2016, with an ex-dividend date of September 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," 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. The Fund 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. The Fund began reporting on NASDAQ on June 30, 2014
with an initial share price of $25.00 and reported a share price of
$26.96 for Class A, $26.75 for Class C, and $27.04 for Class I as
of September 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 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.
*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
ConsiderationsAs 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.
Distribution Policy RiskThe Fund's distribution
policy is to make quarterly distributions to shareholders.
Distribution includes a return of capital (i.e., from your original
investment) and not a return of 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.
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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