Fill out the contact form or call us at (800) 259-9010 to schedule your free consultation. Get the latest Griffin Realty Trust Inc. - Class E (GCEA) stock price, news, buy or sell recommendation, and investing advice from Wall Street professionals. Everyone I dealt with was exceptional. The company noted that office properties continue to be negatively impacted by pandemic-related work-from-home trends.. 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. Griffin Realty Trust, Inc.'s latest 10-Q financial filing, filed on 2022-11-14. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Highlights for the Quarter Ended June. Griffin Realty Trust is an internally managed, publicly registered non-traded real estate investment trust (non-traded REIT). He was very patient, and I never felt rushed. Griffin Realty Trust, Inc., a blue-chip landlord and non-traded real estate investment trust, announced selling its majority interest in properties worth more than $1.1 billion. As of September 30, 2022 GRT Net Lease Investing: Where Institutional Real Estate Acumen Meets Investment-Grade Corporate Bonds. Home; About; Portfolio; . Investors looking to sell often have difficulty finding a buyer, and can suffer significant losses on the sale. Data as of December 31, 2022, unless otherwise noted. *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. 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. 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. This press release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company owns and operates a geographically-diversified portfolio of strategically-located, high-quality, corporate office and industrial properties that are primarily net leased . Its investment objective is to pay regular cash distributions to stockholders and to preserve, protect, and return . Blog, Current Investigations. Non-traded REIT investors should expect to hold on to their investments for years. View source version on businesswire.com: https://www.businesswire.com/news/home/20221101006048/en/, Joele Frank, Wilkinson Brimmer KatcherMeaghan Repko / Kara Sperry212.355.4449, https://www.businesswire.com/news/home/20221101006048/en/. Item 1.01. Approval of this proposal requires the affirmative vote of a majority of the Companys outstanding shares. Griffin Capital has owned, managed, sponsored or co-sponsored investment programs encompassing over $20 billion in assets. Many investors may not have been apprised of the risks involved and were the victims of misrepresentations and omissions by their brokers. Once these remaining assets have been sold, the company intends to fully liquidate and cease operations.. Lack of liquidity is often problematic for many investors. Griffin Capital Company, LLC (Griffin Capital) is a vertically-integrated real estate investment company focused on bespoke investment strategies underpinned by durable secular growth themes as a catalyst for creating strong, risk-adjusted performance. 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. All Rights Reserved. This means that every time you visit this website you will need to enable or disable cookies again. MacKenzie Launches Unsolicited Tender Offer for Griffin Realty Trust Shares, Click here to subscribe to our Daily News Updates, Greenbacker Renewable Energy Company Increases Monthly Share Value, Blackstone Private Credit Fund Increases Regular Monthly Distribution, Bluerock Raises Record $4 Billion of Investor Capital in 2022, MacKenzie Realty Capital Increases Quarterly Dividend Again, Cerity Completes Third RIA Acquisition in January, Adding $8.6 Billion in AUM. 6:26 pm The Company cautions investors not to place undue reliance on these forward-looking statements and urge you to carefully review the disclosures it makes concerning risks. All product and company names, logos and slogans are the trademarks or service marks of their respective owners. Are you concerned about your investment in Griffin Realty Trust Inc.? 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 . 1520 E. Grand Ave, El Segundo, CA 90245 | 310-606-3200. How to Recover Investment Losses involving Griffin Realty Trust Inc. Highlights for the Quarter Ended. GRIFFIN REALTY TRUST, INC. Net Debt (Pro Rata Share) as of September 30 . Griffin Realty Trust, Inc. Americas Blue-Chip Landlord is an internally managed, publicly registered, non-traded REIT. This is the second unsolicited tender offer for shares of Griffin Realty Trust in recent days, following CMG Partners offer to purchase up to 500,000 Class E shares for $3.76 each. The move was part of the REITs strategic monetization process that was announced in early August, which will involve a separation of the REIT by spinning off a new public company that will own a portfolio of primarily industrial assets, as well as certain office assets, and listing that companys shares on a national exchange. 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. 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. The White Law Group, LLC is a national securities fraud, securities arbitration, investor . Today's buyers and sellers need a trusted resource that can guide them through the complex world of real estate. We pride ourselves on providing quality legal services to our clients and handle securities fraud cases throughout the country. According to filings with the SEC, the REIT values its shares at $9.58 as of July 30, 2019. 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. Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship. catalyst for creating strong, risk-adjusted performance. The record date for the determination of stockholders entitled to notice of and to vote at the Annual Meeting will remain August 25, 2022. 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. Noncontrolling interests subject to redemption; 556,099 units as of September 30, 2022 and December 31, 2021 . 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. Its initial offering price was $10/share. On October 1, 2021, Griffin Realty Trust, Inc. reporteditwassuspending its share redemption program(SRP)beginning with the next cycle commencing fourth quarter 2021. The definitive proxy statement and any other documents filed by GRT with the SEC may be obtained free of charge at the SECs website at www.sec.gov or at the "Investors" section of our website at www.grtreit.com or by writing to Griffin Realty Trust, Inc., Attention: Secretary, 1520 E. Grand Avenue, El Segundo, California 90245. Griffin Capital Company, LLC (Griffin Capital) is a vertically-integrated real 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. Please disable your ad-blocker and refresh. NAV as of 6/30/2022 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. To learn more, see: Griffin Realty Trust Plans Spin-off, Liquidation as NAV Declines. 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 . Firms that fail to do so, may be held responsible for any losses. Proxies previously submitted will be voted at the postponed Annual Meeting unless properly revoked, and stockholders who have already submitted a proxy or otherwise voted do not need to take any action at this time. The only media site dedicated exclusively to the coverage of non-traded REITs, business development companies, interval funds, closed-end funds, DSTs and the full range of private placement offerings, The DI Wire has grown to become the most trusted news source for the community of sponsors, broker-dealers and wealth advisors who provide these investment offerings to millions of American retail investors. On October 1, 2021, Griffin Realty Trust, Inc. (SRP)and suspended its distribution reinvestment plan (DRP). 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. This means that this investment is not suitable for anyone who cannot handle or does not want a long-term investing strategy. 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 . 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. The offer expires on October 10, 2022. Inflation-Protected. All product and company names, logos and slogans are the trademarks or service marks of their respective owners. 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The company notes that it plans to sell off the remaining office assetswhich would result in liquidation and cessation of the companys operations, with the spin-off entity surviving as a publicly-traded REIT. Griffin Realty Trust Inc. is a publicly registered, non-traded REIT. Lack of liquidity is often problematic for many investors. How to Recover Investment Losses involving Griffin Realty Trust Inc. 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. The trouble with non-traded REITs is that they are complex and inherently risky products. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. According to the filings, the company reported that the lowered NAV is due to thedecrease in the value of office properties, which was partially offset by an increase in the value of its industrial properties. Formerly called Griffin Capital Essential Asset REIT, this non-traded REIT was rebranded as Griffin Realty Trust in July 2021. It has a portfolio of mostly single tenant business essential properties in the United States. Griffin Realty Trust, which recently finalized a stock-for-stock merger transaction with Cole Office & Industrial REIT Inc., now has more than 120 properties with a $5.8B total asset valuation. Information about GRTs directors and executive officers and their ownership of GRT securities is set forth in GRTs definitive proxy statement for the Annual Meeting on Schedule 14A filed with the SEC on August 29, 2022. 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. The offer expires on October 10, 2022. Griffin Realty Trust sold a majority interest in a 41-property, 53-building office portfolio at a $1.13 billion valuation, according to a company press release. GRT has not approved or sponsored its tenants or their products and services. PHOENIX--CIM Real Estate Finance Trust, Inc. ("CMFT") announced today it has acquired CIM Income NAV, Inc. ("INAV") in a stock-for-stock, tax-free merger transaction pursuant to the definitive agreement executed in September 2021. 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. Investors looking to sell often have difficulty finding a buyer, and can suffer significant losses on the sale. This means that every time you visit this website you will need to enable or disable cookies again. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. 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. PreMarket Prep; Call us at (800) 259-9010 today. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. 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. With great appreciation, thank you! These include industrial properties and corporate offices that the company considers credit-worthy. On October 1, 2021, Griffin Realty Trust, Inc.suspended its share redemption program(SRP)and suspended its distribution reinvestment plan (DRP). At the time, the current net asset value (NAV) of Class E Common Stock was $8.97/share. 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%. You are now leaving the Sila Realty Trust, Inc. (the "REIT") Website. From our first meeting, I felt "heard" and that my situation and story were respected. These include industrial properties and corporate offices that the company considers credit-worthy. Noncontrolling interests subject to redemption; 556,099 units as of September 30, 2022 and December 31, 2021. Furthermore, the Company disclaims any obligation to publicly update or revise any forward- looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. The transaction, when combined with the existing Workspace portfolio . Financial Advisors: Contact the GRT Advisor Services Team advisorservices@grtreit.com. 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 $. I loved learning legal jargon from you. 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. "Risk Factors" and Part II, Item 7. Also, the company announced on October 1, 2021, it was suspending its share redemption program (SRP) beginning with the next cycle commencing fourth quarter 2021. Popular Channels. Noncontrolling interests subject to redemption; 556,099 units as of . 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. If you disable this cookie, we will not be able to save your preferences. 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. 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. For more information on the firm, visitwww.WhiteSecuritiesLaw.com. Long-Term. Share Redemption Form. 2023 Griffin Capital Company, LLC. Contact Shepherd Smith Edwards & Kantas, LLP, NorthStar Financial Services (Bermuda) - Learn More Here. Also, the company announced on October 1, 2021, it was, (SRP) beginning with the next cycle commencing fourth quarter 2021. Password. Resilient. EL SEGUNDO, Calif., November 01, 2022--Griffin Realty Trust, Inc. ("GRT" or the "Company") today announced it has postponed its 2022 annual meeting of stockholders ("Annual Meeting") from November . Our REIT fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) represent Griffin Realty Trust investors in recovering their losses from the brokerage firms responsible for selling them this investment. 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. The contact form sends information by non-encrypted email, which is not secure. 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. The non-traded REITs Board stated it would not make a recommendation one way or the other to shareholders. 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. Lack of liquidity is often problematic for many investors. The company reportedly calls the spin-off entity IndustrialCo.. 10:20 am "Managements Discussion and Analysis of Financial Condition and Results of Operations" and Part II, Item 1A. 149 0 obj <> endobj 217 0 obj <>/Filter/FlateDecode/ID[<5463D9D8FF8B4A4CB41AA2CB29EEA13D><819E60FE17B3436C892F51042F1BABE8>]/Index[149 185]/Info 148 0 R/Length 213/Prev 485544/Root 150 0 R/Size 334/Type/XRef/W[1 3 1]>>stream Unfortunately, distributions from non-traded real estate investment trusts are not guaranteed. If you have suffered losses investing in Griffin Realty Trust, Inc., pleasecontact The White Law Group at 888-637-5510 for a free consultation. el segundo, calif.-- ( business wire )--griffin realty trust, inc. ("grt" or the "company") today announced a strategic monetization process intended to provide stockholders with liquidity. Is this happening to you frequently? The REIT also notedthat it has temporarily suspended its quarterly publishing of net asset value per share of common stockdue to certainstrategic initiativesthat the REIT currently is pursuing, according to filings with the SEC. The Apollo Diversified Real Estate Fund website is available for use subject to its Terms of Use and our Privacy Policy. The company recently completed 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. Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. Please. 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. Blue chip companies are well-known publicly traded companies that typically make up the Dow Jones Industrial Average or the S&P 500 Index. There is a quarterly cap of $5 million on total redemptions, and the next redemption date is September 30, 2022. 10-K Annual Report Summary 10-K Annual Report 10-K YoY Changes. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Griffin Realty Trust Inc., a publicly registered non-traded real estate investment trust formerly known as Griffin Capital Essential Asset REIT, has temporarily suspended its quarterly publishing of net asset value per share, according to a filing with the Securities and Exchange Commission. Username. 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. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. link | Resources | GRIFFIN REALTY TRUST. I set my expectations high, and they delivered above and beyond. It owns and operates an institutional-quality portfolio of net-leased office and industrial assets.. Guided us through a difficult process and was pleased with the outcome. Item 7.01. 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. Chicago, DallasFort Worth, Denver, Detroit, Houston, Los Angeles, Miami, New York City, Philadelphia, Phoenix, San Bernardino-Riverside, San Diego, San Francisco, Seattle, St. Louis, TampaSt. The DI Wire is the definitive news source for the illiquid alternative investment industry. 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. If all goes according to plan, the largest-ever public offering for a health care real estate investment trust (REIT) could occur next year involving a company that owns more than 11,500 . We are committed to creating exceptional value for all of our stakeholders through the ownership and . GRT has not approved or sponsored its tenants or their products and services. Blue chip companies are well-known publicly traded companies that typically make up the Dow Jones Industrial Average or the S&P 500 Index. 2015 by The White Law Group, LLC All rights reserved. CMG Partners, LLC and its affiliates, CMG Income Fund II, LLC, CMG Liquidity Fund, LLC, and Blue River Capital, LLC (jointly, the "Purchasers" or "CMG"), are offering to purchase 500,000 of the Class E shares (the "Shares") of Griffin Realty Trust, Inc. (the "Company", or "GRT") for $3.76 per Share in cash, upon the terms .