The White Law Group continues to investigate potential securities claims involving the liability that brokerage firms may have for recommending Griffin Realty Trust Inc. to investors. According to recent filings with the SEC, the company announced that later this year it would spin off a part of its portfolio, comprised predominantly of industrial andoffice assets, to list the new entitys shares on a stock exchange. 6:26 pm Blue chip companies are well-known publicly traded companies that typically make up the Dow Jones Industrial Average or the S&P 500 Index. The company's senior executives and employees have co-invested over $300 million in its various investment verticals, aligning Griffin's interest with those of its more than 200,000 investors. GRTs Board of Directors Unanimously Recommends Stockholders Vote FOR All Proposals. Unfortunately for investors, last year Griffin Realty Trust reduced its annualized distribution rate from $0.55 per Share to $0.35 per Share, a 36% decrease. Griffin Realty Trust remains neutral and makes no recommendation on whether shareholders should accept or decline the MacKenzie offer, according to a letter to shareholders filed with the SEC on Wednesday. However, it did note that at some point, future additional liquidity might be available to investors although it couldnt guarantee if and when that would happen and whether the price would be greater than what CMG Partners was offering. Third Party Tender Offers may Suggest Losses for Investors Updated (312) 238-9650 | Fax (312) 238-8950 | (888) 637-5510 | 125 S. Wacker Drive, Suite 300, Chicago, Illinois 60606The information you obtain at this site is not, nor is it intended to be, legal advice. Griffin Realty Trust 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. Griffin Realty Trust, Inc. - America's Blue-Chip LandlordTM - is an internally managed, publicly-registered, non-traded REIT. Lack of liquidity is often problematic for many investors. Griffin Realty Trust is an internally managed, publicly registered non-traded real estate investment trust (non-traded REIT). 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 Realty Trust's portfolio, as of December 31, 2021, consisted of 121 office and industrial properties (144 buildings), totaling 29.2 million in rentable square feet, located in 26 states . Market-leading rankings and editorial commentary - see the top law firms & lawyers for Real estate investment trusts (REITs) in United States Griffin Realty Trust Plans Spin-off, Liquidation as NAV Declines, Griffin Capital Essential Asset REIT lawsuit, Griffin Capital Essential Asset REIT liquidation, Griffin Capital Essential Asset REIT tender offer, Griffin Capital Essential Asset REIT value, Griffin Realty Trust Inc.Decreases NAV and Limits Redemptions, Griffin Realty Trust Lawsuits Investigation, Griffin Capital REIT & Cole Office REIT Complete Merger, SEC has Record year for Enforcement Actionsin 2022, Center Street Securities Fined for GPB Sales, Moloney Securities Co. The buyer is a consortium led by Thomas A. Rizk and Roger W. Thomas, founders of Workspace Property Trust. The offer expires on October 10, 2022. This link is being provided as a convenience and for informational purposes only; it does not constitute an endorsement or an approval by the REIT of any of the products, services or opinions of the corporation or organization or individual. 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. Toggle navigation. 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. Contact us now for a free consultation! Regulation FD Disclosure On October 1, 2021, Griffin Realty Trust, Inc. reported that it has temporarily suspended its . Even upon liquidation, there is a chance that investors will not profit much beyond the return of their capital. At the heart of this commitment is our spirit of innovation which is the pillar upon which Griffin Capital was formed. Redemptions begin this quarter, and the first redemption date is September 30, 2022. 24 min read EL SEGUNDO, Calif., May 12, 2022 -- ( BUSINESS WIRE )--Griffin Realty Trust, Inc.. Unsolicited Tender Offers Updated on September 7, 2022, 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 $. ", "My experience with Ryan Cook has been very positive. The REIT also noted that it has temporarily suspended its quarterly publishing of net asset value per share of common stock due to certain strategic initiatives that the REIT currently is pursuing, according to filings with the SEC. In connection with the Annual Meeting, GRT filed a definitive proxy statement on Schedule 14A on August 29, 2022, with the Securities and Exchange Commission (the "SEC"). These include industrial properties and corporate offices that the company considers credit-worthy. 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. Diversified. There is a quarterly cap of $5 million on total redemptions, and the next redemption date is September 30, 2022. 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 and Seattle, Washington. Share Redemption Form. Call us at (800) 259-9010 today. Also, the company announced on. Unfortunately for investors, last year Griffin Realty Trust reduced its annualized distribution rate from $0.55 per Share to $0.35 per Share, a 36% decrease. Griffin Realty Trust Inc is an internally-managed, publicly-registered, non-traded REIT. Shareholders received a letter from the REITs board pressing them to disregard a tender offer by CMG Partners, LLC, and affiliates for 400,000 Class E stock shares at $4.08/share. Blue chip and investment grade descriptions are those of either tenants and/ or guarantors with investment grade credit ratings or whose non-guarantor parent companies have investment grade credit ratings or what management believes are generally equivalent ratings. This means that every time you visit this website you will need to enable or disable cookies again. September 8, 2022 MacKenzie and its affiliates have launched an unsolicited tender offer to purchase up to 1 million shares of Griffin Realty Trust Inc., a publicly registered non-traded real estate investment trust formerly known as Griffin Capital Essential Asset REIT, for $4.09 per share in cash. Griffin Capital Essential Asset REIT, Inc is a public non-listed REIT focused on acquiring business essential single-tenant office and industrial properties net leased for long duration to creditworthy corporate tenants. The trouble with non-tradedREITs isthat they are complex and inherently risky products. GRIFFIN REALTY TRUST, INC. Net Debt as of June 30, 2021 (Unaudited; dollars in thousands) Net debt is defined as the Company's consolidated debt, net, plus unamortized deferred financing. Data as of December 31, 2022, unless otherwise noted. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. For more information on the firm, visit. 149 0 obj
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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. Firms that fail to do so, may be held responsible for any losses. We pride ourselves on providing quality legal services to our clients and handle securities fraud cases throughout the country. All Rights Reserved. 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. Username. 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. GRIFFIN REALTY TRUST, INC. Net Debt (Pro Rata Share) as of September 30 . This website uses cookies so that we can provide you with the best user experience possible. This comes after the companycompleteda stock-for-stock merger transaction with Cole Office & Industrial REIT Inc. The REITs portfolio currently includes 80 wholly owned office and industrial properties (91 buildings), totaling 21.6 million in rentable square feet, located in 24 states, as well as an equity interest in a joint venture that owns 41 office properties. You are now leaving the Sila Realty Trust, Inc. (the "REIT") Website. October 1, 2021, Griffin Realty Trust announced it was suspending its share redemption program starting its next cycle during the fourth quarter of the year. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. On October 1, 2021, Griffin Realty Trust, Inc.suspended its share redemption program(SRP)and suspended its distribution reinvestment plan (DRP). *Includes Class A, Class AA, and Class AAA, Nominating and Corporate Governance Committee Charter, 1520 E. Grand Ave, El Segundo, CA 90245 | 310-606-3200. Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. Griffin Realty Trust, Inc. ("GRT" or the "Company") announced its results for the quarter ended September 30, 2021. . Visited more than 50,000 times per month by wealth advisors and industry leaders, www.TheDIWire.com is an invaluable resource for anyone interested in the illiquid alternative investment industry. The Annual Meeting will be held on November 30, 2022 at 9:30 am Pacific Time at the offices of GRT located at 1520 E. Grand Avenue, El Segundo, California 90245. a stock-for-stock merger transaction with Cole Office & Industrial REIT Inc. and the portfolio now consists of 123 properties with a total asset value of $5.8 billion. By accepting, you are consenting to our use of this technology and the capture of this data. The White Law Group continues to investigate potential securities claims involving the liability that brokerage firms may have for improperly recommending Griffin Realty Trust Inc. to investors. 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 and Seattle, Washington. It has also suspended its distribution reinvestment plan (DRP), and the current monthly distribution for September 2021 is expected to be paid on or about October 11. Tender Offer Price Suggests Losses for Investors - Griffin Realty Trust inc. (fka Griffin Capital Essential Asset REIT). From our first meeting, I felt "heard" and that my situation and story were respected. For more information on the firm, visit www.WhiteSecuritiesLaw.com. Griffin Realty Trust, Inc. is an internally managed, publicly-registered, non-traded REIT. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. 2023 Griffin Capital Company, LLC. Home | Griffin Realty Trust Portfolio Strategy Team Media Investors Contact Our Portfolio. Griffin Realty Trust makes no recommendation on whether shareholders should accept or decline the CMG offer, according to a letter to shareholders filed with the SEC on Friday. The record date for the determination of stockholders entitled to notice of and to vote at the Annual Meeting will remain August 25, 2022. Griffin Realty Trust (formerly known as Griffin Capital Essential Asset REIT), a publicly registered non-traded REIT, is focused on business-essential office and industrial properties that are primarily net leased to single tenants, according to its website. The company recentlycompleteda stock-for-stock merger transaction with Cole Office & Industrial REIT Inc. and the portfolio now consists of 123 properties with a total asset value of $5.8 billion. However, at this time, the number of votes cast in favor of the conversion proposal is not sufficient to approve the conversion. All copies must include this copyright statement. Griffin Realty Trust | Securities Fraud Lawyers. All product and company names, logos and slogans are the trademarks or service marks of their respective owners. While forward-looking statements reflect the Companys good faith beliefs, assumptions and expectations, they are not guarantees of future performance. 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. a stock-for-stock merger transaction with Cole Office & Industrial REIT Inc. Mackenzie Capital Management has also launched a tender offer to purchase shares of the REIT on September 5, reportedly offering $4.09 per share. Griffin Realty Trust, Inc. (GRTA) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021. 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. Form 8-K (Office Portfolio Sale 12.28.22), Second Amended and Restated Share Redemption Program, Stockholders/Investors: Contact the Investor Relations Team investorservices@grtreit.com or 800-679-2112. The Company owns and operates a . Item 7.01. Our Capabilities GRIFFIN CAPITAL BY THE NUMBERS $ 22 B Owned/Managed/ Sponsored/Co-Sponsored The company reported an updated Net Asset Value (NAV) per share of $7.42 as of June 30, 2022, a decrease from last years NAV of $9.10 per share a decline of 18%. Griffin Realty Trust, Inc. (Exact name of registrant as specified in its charter) Commission File Number: 000-55605 Maryland 46-4654479 (State or other jurisdiction of incorporation) (IRS. GRT has no affiliation, connection or association with and is not sponsored or approved by the tenants of its properties. All product and company names, logos and slogans are the trademarks or service marks of their respective owners. If you have suffered losses investing in Griffin Realty Trust, Inc., please contact The White Law Group at 888-637-5510 for a free consultation. Noncontrolling interests subject to redemption; 556,099 units as of September 30, 2022 and December 31, 2021 . To review a summary of the Risk Factors related to an investment in the Apollo Diversified Real Estate Fund click here. Noncontrolling interests subject to redemption; 556,099 units as of . 3,812 . Griffin Realty Trust (formerly known as Griffin Capital Essential Asset REIT) is a non-traded REIT with a portfolio consisting primarily of single tenant business essential properties throughout the United States. Long-Term. Dr. Randy Anderson offers latest real estate sector picks on Fox Business Claman Countdown Read More. You can also identify forward-looking statements by discussions of strategy, plans or intentions. 10:20 am The White Law Group is a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida. Liquidation and Possible listing on a Stock Exchange for, recent filings with the SEC, the company announced that later this year it would spin off a part of its portfolio, comprised predominantly of industrial andoffice assets, to list the new entitys shares on a stock exchange. About Griffin Realty Trust, Inc. 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