Griffin Institutional Access Real Estate Fund Announces Fourth Quarter Distribution
2016年12月24日 - 6:13AM
Griffin Capital Corporation announced today on behalf of Griffin
Institutional Access Real Estate Fund (NASDAQ:GIREX) (NASDAQ:GCREX)
(NASDAQ:GRIFX) (NASDAQ:GMREX) the fourth quarter distribution of
$0.349 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 December 30, 2016 to shareholders
of record as of December 22, 2016, with an ex-dividend date of
December 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, 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
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 $26.78 for Class A, $26.52 for Class C,
$26.87 for Class I, and $26.77 for Class M as of December 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 55.4 million square feet of space since 1995. Griffin
Capital and its affiliates own, manage, sponsor and/or co-sponsor a
portfolio consisting of approximately 38* million square feet of
space, located in 30 states and the United Kingdom, representing
approximately $6.9* billion in asset value, based on purchase
price, as of September 30, 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 11/30/16 the Fund's
annualized return since inception for Class A shares was 7.73%. 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. The
total estimated gross expense ratio is 3.18% 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 November 30, 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. 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 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
Griffin Institutional Access Real Estate Fund Class M (MM) (NASDAQ:GMREX)
過去 株価チャート
から 6 2024 まで 7 2024
Griffin Institutional Access Real Estate Fund Class M (MM) (NASDAQ:GMREX)
過去 株価チャート
から 7 2023 まで 7 2024