Griffin Institutional Access Real Estate Fund Announces First Quarter Distribution
2017年3月25日 - 7:51AM
Griffin Capital Company announced today on behalf of Griffin
Institutional Access Real Estate Fund (NASDAQ:GIREX) (NASDAQ:GCREX)
(NASDAQ:GRIFX) (NASDAQ:GMREX) the first quarter distribution of
$0.350 for Class A, $0.346 for Class C, $0.351 for Class I, and
$0.349 for Class M, or a 5.22% annualized distribution rate. The
distribution will be payable on March 31, 2017 to shareholders of
record as of March 23, 2017, with an ex-dividend date of March 24,
2017.
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 Company Griffin Institutional Access Real
Estate Fund (the "Fund," tickers: GIREX, GCREX, GRIFX, GMREX), 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 began reporting on
NASDAQ on June 30, 2014 with an initial share price of $25.00 and
reported a share price of $26.79 for Class A, $26.48 for Class C,
$26.90 for Class I, and $26.74 for Class M as of March 23, 2017.
The advisor of the Fund is Griffin Capital Advisor, LLC, a majority
owned subsidiary of Griffin Capital Company. Griffin Capital
Company ("Griffin Capital"), is a privately-held, Los Angeles
headquartered investment and asset management company with a
22-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 58.4 million square feet of space since 1995. Griffin
Capital and its affiliates own, manage, sponsor and/or co-sponsor a
portfolio consisting of approximately 42* million square feet of
space, located in 30 states and the United Kingdom, representing
approximately $7.3* billion in asset value, based on purchase
price, as of December 31, 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 2/28/17 the Fund's annualized return
since inception for Class A shares was 7.75%. The Fund's
inception date was 6/30/2014. The total gross expense ratio is
2.42% for Class A, 3.17% for Class C, 2.17% for Class I and 2.92%
for Class M. 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,
1.66% for Class I, and 2.41% for Class M until February 1, 2018.
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 2017.
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. A copy of
the Fund’s distribution statement pursuant to Section 19(a) of the
Investment Company Act of 1940 is available at:
https://www.griffincapital.com/griffin-institutional-access-real-estate-fund/forms-and-literature.
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 2017.
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 Company
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
Griffin Institutional Access Real Estate Fund Class C Shares (MM) (NASDAQ:GCREX)
過去 株価チャート
から 8 2024 まで 9 2024
Griffin Institutional Access Real Estate Fund Class C Shares (MM) (NASDAQ:GCREX)
過去 株価チャート
から 9 2023 まで 9 2024