Griffin Institutional Access Real Estate Fund Announces Fourth Consecutive Distribution Increase
September 24 2015 - 10:50AM
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 $0.33969 for Class
A, $0.33956 for Class C, and $0.33982 for Class I, or a 5.2%
annualized distribution rate. This distribution represents our
fourth consecutive distribution increase and will be payable on
September 30, 2015 to shareholders of record as of September 22,
2015.
To learn more about GIREX, go
to http://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 ("GIREX" or 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.
GIREX began reporting on NASDAQ on June 30, 2014 with an initial
share price of $25.00 and reported a share price of $25.80 for
Class A, $25.79 for Class C, and $25.81 for Class I as of September
23, 2015. The advisor of GIREX is Griffin Capital Advisor, LLC, a
majority owned subsidiary of Griffin Capital Corporation. Griffin
Capital Corporation is a privately-owned real estate company
headquartered in Los Angeles. Led by senior executives with more
than two decades of real estate experience collectively
encompassing over $21 billion of transaction value and more than
650 transactions, Griffin Capital and its affiliates have acquired
or constructed approximately 41 million square feet of space since
1995. Griffin Capital and its affiliates manage, sponsor and/or
co-sponsor a portfolio consisting of approximately 26.7 million
square feet of space, located in 29 states, representing
approximately $4.6 billion in asset value.
Investors should carefully consider the investment
objectives, risks, charges and expenses of the Griffin
Institutional Access Real Estate Fund ("GIREX" or 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 6/30/15 the Fund has returned 7.56%. GIREX's inception
date was 6/30/2014. The total gross expense ratio is 6.80% for
Class A, 7.55% for Class C, and 6.55% 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 June 30,
2016. Without the waiver the expenses would have been higher. The
net asset value ("NAV") 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.
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 and
dividing by the current Fund NAV. The percentage represents a
single distribution from the Fund and does not represent the total
returns of the Fund.
GIREX 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 GIREX should understand that the NAV of GIREX will
fluctuate, which may result in a loss of the principal amount
invested. GIREX provides liquidity to shareholders quarterly
between five percent and 25 percent of its outstanding shares at
net asset value. All or a portion of the distribution may include a
return of capital.
GIREX is distributed by ALPS Distributors, Inc. ALPS
Distributors, Inc. is not affiliated with either Griffin Capital or
any of its affiliates.
CONTACT: Jennifer Nahas
Vice President, Marketing
Griffin Capital Corporation
jnahas@griffincapital.com
949-270-9332
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