Real Estate Interval Fund Achieves
Significant Milestone
Griffin Capital Company, LLC (“Griffin Capital”) announced today
that Griffin Institutional Access Real Estate Fund (NASDAQ: GIREX,
GCREX, GRIFX, GLREX, GMREX; the “Fund”) exceeded $2.5 billion in
assets under management. The Fund achieved this mark on August 22,
2018.
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177 Avenue of the Americas, UBS Trumbull
Property Fund, New York, NY. (Photo: Business Wire)
“Our actively managed private/public strategy and access to high
quality institutional real estate investments has led to consistent
returns with low volatility and low correlation to the broad
markets since the fund’s inception,” said Randy I. Anderson, Ph.D.,
CRE, President, Griffin Capital Asset Management Company, LLC. “We
appreciate the support of our investors as well as our
broker-dealer partners and could not be more excited about the
future of our platform.”
About Griffin Institutional Access Real Estate Fund
Griffin Institutional Access Real Estate Fund (the “Fund,”
NASDAQ: GIREX, GCREX, GRIFX, GLREX, 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, geography and
fund manager, 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 class A share price of $25.00 and reported a
share price of $27.20 for Class A, $26.60 for Class C, $27.41 for
Class I, $27.13 for Class L, and $26.96 for Class M, as of August
24, 2018. The Adviser of the Fund is Griffin Capital Advisor, LLC,
a majority-owned subsidiary of Griffin Capital Company, LLC.
About Griffin Capital Company, LLC
Griffin Capital Company, LLC (“Griffin Capital”) is a leading
alternative investment asset manager with nearly $10.75 billion* in
assets under management. Founded in 1995, the privately held firm
is led by a seasoned team of senior executives with more than two
decades of investment and real estate experience and who
collectively have executed more than 650 transactions valued at
over $22 billion.
The firm manages, sponsors or co-sponsors a suite of carefully
curated, institutional quality investment solutions distributed by
Griffin Capital Securities, LLC to investors through a community of
partners, including independent and insurance broker-dealers,
wirehouses, registered investment advisory firms and the financial
advisors who work with these enterprises.
Additional information about Griffin Capital is available at
www.griffincapital.com.
*Includes the property information related to interests held in
certain joint ventures. As of June 30, 2018.
Risk Disclosures
This is neither an offer to sell nor a solicitation to
purchase the securities described herein. Investors should
carefully consider the investment objectives, risks, charges and
expenses of 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 is a closed-end
interval fund. Limited liquidity is provided to shareholders only
through the Fund’s quarterly repurchase offers for no less than 5%
of the Fund’s shares outstanding at net asset value. The Fund is
only suitable for investors who can bear the risks associated with
the limited liquidity of the Fund and should be viewed as a
long-term investment.
Griffin Institutional Access Real Estate Fund’s inception date
was 6/30/14. As of July 31, 2018, the Fund’s annualized return for
load-waived Class A shares is 7.22% since inception and 6.22% for
one year. During that period, the S&P 500 had an annualized
return of 11.55% and a one-year return of 16.24%. Since inception,
the Fund’s load-waived Class A share generated a standard deviation
of 2.08% and a sharpe ratio of 3.19. The S&P 500 had a standard
deviation of 9.86% and a sharpe ratio of 1.11 during that
period.
All performance calculations and metrics are sourced from
Morningstar Direct and are based on monthly data. Performance data
for Griffin Institutional Access Real Estate Fund uses a
load-waived, Class A share and does not reflect a maximum sales
charge of 5.75% for Class A shares. Investors of the load waived
class A share do not pay a front-end sales load. If the data
reflected the deduction of such fees, the performance would be
lower. Performance data quoted represents past performance; past
performance does not guarantee future results. The investment
return and principal value of an investment will fluctuate so that
an investor’s shares, when redeemed, may be worth more or less than
the original cost. Current performance may be lower or higher than
the performance quoted. The most recent performance is available at
www.griffincapital.com, which includes returns that reflect a
maximum sales charge for Class A shares.
Performance reflects management fees and other expenses.
Performance also reflects the reinvestment of dividends and
distributions.
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, 2.16% for Class L, and 2.41% for Class M. The Expense
Limitation Agreement will remain in effect at least through
February 1, 2019. Fund returns would have been lower had expenses
not been waived during the period. Returns shown do not reflect the
deduction of taxes that a shareholder would pay on Fund
distributions or the redemption of Fund shares. The total gross
expense ratio is 2.30% for Class A, 3.05% for Class C, 2.04% for
Class I, 2.46% for Class L, and 2.73% for Class M.
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.
The S&P 500 is an index based on market cap of the 500
largest companies having stock listed on the New York Stock
Exchange (NYSE) or NASDAQ. Investors cannot invest directly in an
index.
Sharpe ratio measures risk-adjusted returns by calculating the
excess return (above the risk-free rate) per unit of risk (standard
deviation). The higher the ratio, the better the risk-adjusted
returns. The average 3-month U.S. Treasury T-bill auction was used
as the risk free rate in this material.
Standard deviation measures the average deviations of a return
series from its mean, and is often used as a measure of
volatility/risk. A large standard deviation implies that there have
been large swings in the return series of the manager.
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.
# # #
IU-GI823 (082718) | GFC000733 | Exp. 08.31.19
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Griffin Capital Company, LLCAmanda Gorsche MillerVice
President, Digital Marketing and
Communicationsamiller@griffincapital.comOffice Phone:
949-270-9373Cell Phone: 949-433-9189
Griffin Institutional Access Real Estate Fund Class C Shares (MM) (NASDAQ:GCREX)
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