Also, the company announced on. This means that every time you visit this website you will need to enable or disable cookies again. Username. Investment Losses? With great appreciation, thank you! Toggle navigation. Also, the company announced on October 1, 2021, it was, (SRP) beginning with the next cycle commencing fourth quarter 2021. estate investment company focused on bespoke investment The CMG offer price of $3.76 per share is approximately 49 percent less than the most recently published NAV for Class E shares of $7.43 as of June 30, 2022. Griffin Realty Trust, Inc. (GRTA) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Griffin Capital Company uses 'cookies' and processes data like IP-addresses or browser information to help us compile aggregate data about site traffic and site interaction so that we can offer better user experiences. . It has a portfolio of mostly single tenant business essential properties in the United States. With our extensive knowledge and commitment to providing only the best and most timely information to our clients, we are your go-to source for real estate industry insight and advice. The non-traded REITs Board stated it would not make a recommendation one way or the other to shareholders. The CMG offer price of $3.76 per share is approximately 49 percent less than the most recently, published NAV for Class E shares of $7.43, Mackenzie Capital Management has also launched a tender offer to purchase shares of the REIT on September 5, reportedly offering, The Boardhas previously notedthatit is possible that in the future additional liquidity will be made available to you, though we can make no assurances as to whether that will happen, or the timing or terms of any such liquidity and whether any such liquidity will be available at a price in excess of the CMG Offer price., The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois. Among other items, the Board is asking stockholders of the Company to consider and vote on a proposal to approve the conversion of the Company from a Maryland corporation to a Maryland real estate investment trust, in order to allow the Board to pursue the path to liquidity and value maximization that it considers to be in the best interests of stockholders in a manner that does not result in substantial adverse tax consequences to stockholders. 1520 E. Grand Ave, El Segundo, CA 90245 | 310-606-3200. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. On September 1, CMG Partners LLC and its affiliates reportedly extended an unsolicited tender offer to purchase up to 500,000 Class E shares of the non-traded REIT, for $3.76 per share in cash. About Griffin Realty Trust, Inc. Griffin Realty Trust, Inc. - America's Blue-Chip Landlord TM - is an internally managed, publicly-registered, non- traded REIT. Contact us now for a free consultation! . There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. Approval of this proposal requires the affirmative vote of a majority of the Companys outstanding shares. Griffin Realty Trust (GRT) has sold a majority interest in a 41-property office portfolio, consisting of 53 buildings and one land parcel, valued at $1.132 billion. Dr. Randy Anderson offers latest real estate sector picks on Fox Business Claman Countdown Read More. Regulation FD Disclosure On October 1, 2021, Griffin Realty Trust, Inc. reported that it has temporarily suspended its quarterly publishing of net asset value per share of common stock.. | January 2, 2023. 2015 by The White Law Group, LLC All rights reserved. Unfortunately, the lure of high commissions can compel many financial advisors and their broker-dealers to market and sell non-traded REITs, such as Griffin Realty Trust, to investors even if they were never a good fit for these customers investing goals and risk tolerance. Find the data you need, view the source filings, fewer clicks, quicker speeds. Non-traded REIT investors should expect to hold on to their investments for years. 1FQBsbl i' kZ dB- a` Home | Griffin Realty Trust Portfolio Strategy Team Media Investors Contact Our Portfolio. Concerned about your investment in Griffin Capital Essential Asset REIT? The REIT also amended and restated its share redemption program (SRP) and will redeem shares in connection with a stockholders death, qualifying disability or determination of incompetence or incapacitation. ", "Good intelligent attorneys who never miss a beat. The company reportedly calls the spin-off entity IndustrialCo.. Although appealing to investors looking for products with greater yield, non-traded REITs tend to be illiquid because they dont trade on a national securities exchange. By investment grade we mean that we intend to invest in properties leased to blue chip tenants and/ or companies with investment grade credit ratings. The Company owns and operates a geographically diversified portfolio of strategically located, high-quality, corporate office and industrial properties that are primarily net leased to single tenants that the Company has determined to be creditworthy. Investment Losses? Once these remaining assets have been sold, the company intends to fully liquidate and cease operations.. Broker dealers are required to inform clients of the risks associated with investment recommendations and to ensure that those recommendations are suitable for the investor in light of the investors age, risk tolerance, net worth, and investment experience. Griffin estimated that its Net Asset Value was $9.10 per Share, as of June 30, 2021.Shares were originally sold for $10.00 per share. el segundo, calif. - august 5, 2022 - griffin realty trust, inc. ("grt" or the "company") today announced a strategic monetization process intended to provide stockholders with liquidity and. CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC . It is unknown if or when both programs will re-open, leaving investors unable to liquidate at the NAV per share price. These include industrial properties and corporate offices that the company considers credit-worthy. Tender Offer Price Suggests Losses for Investors - Griffin Realty Trust inc. (fka Griffin Capital Essential Asset REIT). INVESTORS AND SECURITY HOLDERS OF GRT ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE ANNUAL MEETING THAT GRT FILES WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS TO BE CONDUCTED AT THE ANNUAL MEETING. Noncontrolling interests subject to redemption; 556,099 units as of . Popular Channels. You should expect to receive offer materials for the CMG Offer, if you have not received them already. 1520 E. Grand Ave, El Segundo, CA 90245 | 310-606-3200. 2023 Griffin Realty Trust. Dedicated to the representation of investors in claims against their financial professional or brokerage firm, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. This comes after the companycompleteda stock-for-stock merger transaction with Cole Office & Industrial REIT Inc. The offer expires on October 10, 2022. Their broker may have even unsuitably sold this non-traded REIT to them. The undersigned acknowledges that the per share redemption amount may be less than the amount paid for such shares in accordance with the pricing procedures of the Share Redemption Program. Long-Term. The DI Wire is the definitive news source for the illiquid alternative investment industry. No mention of the buyers or of what . Shareholders may not redeem their shares through the REITs share redemption plan except in connection with a shareholders death, qualifying disability or determination of incompetence or incapacitation. November 15, 2022 Griffin Realty Trust, Inc. Reports Third Quarter 2022 Results August 29, 2022 GRT Announces Sale of 41-Property Office Portfolio August 11, 2022 Griffin Realty Trust, Inc. Reports Second Quarter 2022 Results August 5, 2022 GRT Announces Strategic Monetization Process, Updates Net Asset Value and Reinstates Share Redemption Plan GRT has no affiliation, connection or association with and is not sponsored or approved by the tenants of its properties. PreMarket Prep; The definitive proxy statement was first mailed to GRT stockholders entitled to vote at the Annual Meeting on or about August 29, 2022. However, at this time, the number of votes cast in favor of the conversion proposal is not sufficient to approve the conversion. 2023 Griffin Capital Company, LLC. You can also identify forward-looking statements by discussions of strategy, plans or intentions. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. Additional Information and Where to Find It. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: general economic and financial conditions; market volatility; inflation; any potential recession or threat of recession; interest rates; the impact of the COVID-19 pandemic and resulting economic disruption on the markets in which we operate and on work-from-home trends, occupancy, rent deferrals and the financial condition of the Companys tenants; whether any easing of the pandemic or other factors will impact the attractiveness of industrial and/or office assets; whether we will be successful in renewing leases as they expire; future financial and operating results, plans, objectives, expectations and intentions; expected sources of financing and the availability and attractiveness of the terms of any such financing; legislative and regulatory changes that could adversely affect our business; whether we will continue to publish our net asset value on an annual basis, more frequently or at all; our future capital expenditures, operating expenses, net income, operating income, cash flow and developments and trends of the real estate industry; whether the strategic monetization process will maximize stockholder value; whether the spin off will be completed on the anticipated timing or at all; whether we will be successful in liquidating our remaining assets after the spin off; whether we will effect the strategic monetization process at the time and in a manner that maximizes value for the Companys stockholders; when stockholders will receive any net proceeds in connection with the disposition of our remaining assets after the spin off; whether we will succeed in our investment objectives; whether the combination of net proceeds from the ultimate sale of your shares of the spin off company and the distribution of the net proceeds by the Company from the sale of the remaining assets will equal our current NAV; our ability to find purchasers for the remaining assets on such terms as our Board of Directors determines to be in the best interests of our stockholders; unanticipated difficulties or expenditures relating to the strategic monetization process or the pursuit of sales of our remaining assets; the response of stockholders, tenants, business partners and competitors to the announcement of the strategic monetization process; legal proceedings that may be instituted against us and others related to the strategic monetization process; risks associated with our dependence on key personnel whose continued service is not guaranteed; risks related to the disruption of managements attention from ongoing business operations due to pursuit of the strategic monetization process; other factors, including those risks disclosed in Part I, Item 1A. 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