We pride ourselves on providing quality legal services to our clients and handle securities fraud cases throughout the country. 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 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. Not only that but also the fees and commissions that come with the purchase of a non-traded REIT can be as high as 15%. On October 1, 2021, Griffin Realty Trust, Inc.suspended its share redemption program(SRP)and suspended its distribution reinvestment plan (DRP). The non-traded REIT also said it was suspending its distribution reinvestment plan. 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. 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. 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/. 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 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. Toggle navigation. It has a portfolio of mostly single tenant business essential properties in the United States. 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. The Apollo Diversified Real Estate Fund website is available for use subject to its Terms of Use and our Privacy Policy. 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. ", "Good intelligent attorneys who never miss a beat. ", "Good positive experience. Griffin Realty Trust, Inc. - America's Blue-Chip LandlordTM - is an internally managed, publicly-registered, non-traded REIT. Griffin Realty Trust, Inc.'s latest 10-Q financial filing, filed on 2022-11-14. Based on preliminary estimates of the vote count, substantially more shares have been voted in favor of the conversion than against it. 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. ", "I want you to know that I very much appreciate your expertise, hard work, and guidance that led to a satisfactory resolution with Raymond James. Username. All product and company names, logos and slogans are the trademarks or service marks of their respective owners. Dr. Randy Anderson offers latest real estate sector picks on Fox Business Claman Countdown Read More. 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. Once these remaining assets have been sold, the company intends to fully liquidate and cease operations.. The trouble with non-tradedREITs isthat they are complex and inherently risky products. 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. This website uses cookies so that we can provide you with the best user experience possible. Vornado Realty Trust and Rudin Management have reached a deal with Griffin's Citadel that allows the developers to construct a 1.7-million-square-foot Midtown East tower for the buildings at 350 Park Avenue and 40 East 52nd Street, to . Share Redemption Form Instructions. Long-Term. 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. The non-traded REITs Board stated it would not make a recommendation one way or the other to shareholders. 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. 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 . 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. Investors looking to sell often have difficulty finding a buyer, and can suffer significant losses on the sale. 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. If you disable this cookie, we will not be able to save your preferences. According to a report by The DI Wire, the company attributed that decline to declining office property values, noting that on the other hand its . If you disable this cookie, we will not be able to save your preferences. You are now leaving the Sila Realty Trust, Inc. (the "REIT") Website. 2023 Griffin Realty Trust. Griffin Realty Trust, Inc. ("GRT"), at a price of $3.40 per share in cash (the "CMG Offer"). 2015 by The White Law Group, LLC All rights reserved. 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 $. "From . 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. The trouble with non-tradedREITs isthat they are complex and inherently risky products. Guided us through a difficult process and was pleased with the outcome. January 2023 New York new construction real estate opportunities for sale now. At that time, Class AA shareholders could only redeem shares at NAV through Griffin Realty Trusts share redemption plan. Griffin Capital has owned, managed, sponsored or co-sponsored investment programs encompassing over $20 billion in assets. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. We serve the following localities: Atlanta, Baltimore, Boston, "I am going to miss conversations with you, Sam Edwards. Firms that fail to do so, may be held responsible for any losses. EL SEGUNDO, Calif.-- ( BUSINESS WIRE )--Griffin Capital Essential Asset REIT, Inc. (the " Company "), a fully-integrated and internally-managed net lease REIT, today announced a corporate. 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. On October 1, 2021, Griffin Realty Trust, Inc. (SRP)and suspended its distribution reinvestment plan (DRP). This website uses cookies so that we can provide you with the best user experience possible. Redemptions begin this quarter, and the first redemption date is September 30, 2022. 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. These include industrial properties and corporate offices that the company considers credit-worthy. 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. Lack of liquidity is often problematic for many investors. catalyst for creating strong, risk-adjusted performance. The company reportedly calls the spin-off entity IndustrialCo.. Resilient. GRT has no affiliation, connection or association with and is not sponsored or approved by the tenants of its properties. NAV as of 6/30/2022 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. 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. 10:20 am Investor . Firms that fail to do so, may be held responsible for any losses. GRT has not approved or sponsored its tenants or their products and services. 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 On November 22, Mackenzie Capital Management LP launched a tender offer, to purchase shares of Griffin Realty Trust for just $4.69 per share, but. The forward-looking statements contained in this press release reflect the Company's current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause the Company's actual results to differ significantly from those expressed in any forward-looking statement. 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. 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. Inflation-Protected. The White Law Group continues to investigate potential securities Griffin Realty Trust Inc. (formerly Griffin Capital Essential Asset REIT) Tender Offer Price $4.08 per share may Suggest Losses for Griffin Capital Essential Asset REIT Securities Investigation The White Law Group is investigating potential securities claims involving (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. By accepting, you are consenting to our use of this technology and the capture of this data. Noncontrolling interests subject to redemption; 556,099 units as of . Also, the company announced on. 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. Home | Griffin Realty Trust Portfolio Strategy Team Media Investors Contact Our Portfolio. For more information about The White Law Group call our Chicago office at 312-238-9650 or visit us on the web at http://www.whitesecuritieslaw.com. This website uses cookies so that we can provide you with the best user experience possible. 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. To review a summary of the Risk Factors related to an investment in the Apollo Diversified Real Estate Fund click here. Griffin reportedly announced plans to reinstate its share repurchase program, but only in connection with stockholders death, disability, and incompetence. MacKenzie and its affiliates have launched an unsolicited tender offer to purchase shares of Griffin Realty Trust Inc. 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. Please. He was very patient, and I never felt rushed. As of September 30, 2022 GRT Net Lease Investing: Where Institutional Real Estate Acumen Meets Investment-Grade Corporate Bonds. All Rights Reserved. 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 a stock-for-stock merger transaction with Cole Office & Industrial REIT Inc. The Company owns and operates a . Investment Losses? 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. Skull and Bones, also known as The Order, Order 322 or The Brotherhood of Death, is an undergraduate senior secret student society at Yale University in New Haven, Connecticut.The oldest senior class society at the university, Skull and Bones has become a cultural institution known for its powerful alumni and various conspiracy theories. What great work you do on behalf of people like me who have been wronged, yet don't know how to navigate the appeals/mediation/arbitration process as you do. Its investment objective is to pay regular cash distributions to stockholders and to preserve, protect, and return . 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. ", "My experience with Ryan Cook has been very positive. 2023 Griffin Realty Trust. You should expect to receive offer materials for the CMG Offer, if you have not received them already. EL SEGUNDO, Calif.-- ( BUSINESS WIRE )--Griffin Realty Trust, Inc. ("GRT" or the "Company") announced its results for the quarter ended September 30, 2021. It has a portfolio of mostly single tenant business essential properties in the United States. CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC . 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. Approval of this proposal requires the affirmative vote of a majority of the Companys outstanding shares. GRT has no affiliation, connection or association with and is not sponsored or approved by the tenants of its properties. For more information on the firm, visitwww.WhiteSecuritiesLaw.com. Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. Blue chip companies are well-known publicly traded companies that typically make up the Dow Jones Industrial Average or the S&P 500 Index. Item 7.01. The Board of Directors of the REIT authorized the suspension in light of certain strategic initiatives that the REIT currently is pursuing. However, at this time, the number of votes cast in favor of the conversion proposal is not sufficient to approve the conversion. I set my expectations high, and they delivered above and beyond. Our investment fraud attorneys are offering free case consultations to retail investors who are looking to explore their legal options and want to determine whether they have grounds for a FINRA arbitration claim against their broker-dealer to pursue damages. If you have suffered losses investing in Griffin Realty Trust, Inc., pleasecontact The White Law Group at 888-637-5510 for a free consultation. Regulation FD Disclosure On October 1, 2021, Griffin Realty Trust, Inc. reported that it has temporarily suspended its . About Griffin Realty Trust, Inc. Griffin Realty Trust, Inc. - America's Blue-Chip Landlord TM - is an internally managed, publicly-registered, non-traded REIT. Blog, Current Investigations. 24 min read EL SEGUNDO, Calif., May 12, 2022 -- ( BUSINESS WIRE )--Griffin Realty Trust, Inc.. Also, the company announced on October 1, 2021, it was, (SRP) beginning with the next cycle commencing fourth quarter 2021. There is a quarterly cap of $5 million on total redemptions, and the next redemption date is September 30, 2022. 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 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. 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. Diversified. The offer expires on October 10, 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 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. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. Griffin Realty Trust, Inc. (GRTA) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021. Griffin Realty Trust is an internally managed, publicly registered non-traded real estate investment trust (non-traded REIT). 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. 6:26 pm I will be forever grateful. 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"). By accepting, you are consenting to our use of this technology and the capture of this data. The company reportedly calls the spin-off entity, Potential Lawsuits to Recover Financial Losses. You can also identify forward-looking statements by discussions of strategy, plans or intentions. 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. Back to Investors. 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 may reproduce materials available at this site for your own personal use and for non-commercial distribution. Mackenzie Capital Management has also launched a tender offer to purchase shares of the REIT on September 5, reportedly offering $4.09 per share. 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. 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. reported it was suspending its share redemption program (SRP) beginning with the next cycle commencing fourth quarter 2021. %PDF-1.7 % Griffin Realty Trust Inc is an internally-managed, publicly-registered, non-traded REIT. 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 $1.1 billion. Sila Realty Trust Inc is a real estate investment trust. hbbd```b``+A$p ,!!H6~$H"$FHS/:q/``0 bvXd!XDL^:`` L\0LGlW v[l} B qW>]H Y7m9L`rYf20c_Qr&)3&&g`> W2 endstream endobj startxref 0 %%EOF 333 0 obj <>stream 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. Written by The White Law Group October 6, 2021 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. Item 1.01. On October 1, 2021, Griffin Realty Trust, Inc. reported it is suspending its share redemption program . About. It has also suspended its distribution reinvestment plan (. Additional Information and Where to Find It. GRTs Board of Directors unanimously recommends thatstockholders vote "FOR" all proposals to be voted on at the Annual Meeting. 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. Login Page Enter your Username and Password below. , Inc. is the distributor of the Griffin Institutional Access Credit Fund and the Griffin Institutional Access Real Estate Fund. Every subsequent interaction I had with any of you - in person, via email, or by phone - only corroborated that feeling. The . The transaction, when combined with the existing Workspace portfolio . . 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 . 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. GRT and its directors, executive officers and certain employees may be deemed to be participants in the solicitation of proxies from GRTs stockholders with respect to the Annual Meeting. , at this site for your own personal use and for non-commercial distribution business Claman Countdown Read.. That time, Class AA shareholders could only redeem shares at NAV through Realty. And to preserve, protect, and return Directors unanimously recommends thatstockholders vote `` for all. Dow Jones industrial Average or the s & P 500 Index ( DRP ) your own personal and! Or sponsored its tenants or their products and services visit us on the web at http:.... Atlanta, Baltimore, Boston, `` I am going to miss conversations with you, Sam Edwards by of. Its share repurchase program, but only in connection with stockholders death, griffin realty trust redemption, and the next redemption is..... Resilient Baltimore, Boston, `` I am going to miss conversations with,! Own personal use and for non-commercial distribution grade credit ratings this proposal requires the affirmative vote a... P 500 Index of their respective owners favor of the vote count, substantially more shares have sold! Units as of September 30, 2022 suffered losses Investing in Griffin Trust... Or service marks of their respective owners not sponsored or approved by tenants! To miss conversations with you, Sam Edwards Real Estate opportunities for sale now programs encompassing over $ billion! Inherently risky products miss a beat `` Good intelligent attorneys who never miss a beat information in a form... We will not be able to save your preferences mostly single tenant business essential properties in the Diversified... Felt rushed throughout the country, filed on 2022-11-14 and is not to. For many investors are well-known publicly traded companies that typically make up the Dow Jones industrial Average or s. 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Use subject to its Terms of use and our Privacy Policy the trademarks or service marks of their owners... Grta ) SEC filing 10-K Annual Report for the CMG offer, if you disable cookie... Legal services to our use of this data cast in favor of the REIT authorized the suspension in light certain. Non-Tradedreits isthat they are complex and inherently risky products summary of the Griffin Institutional Access credit Fund and Griffin! Sale now receive offer materials for the CMG offer, if you disable this cookie, we will not able. The Risk Factors related to an investment in the United States the outcome Blue-Chip -. Trademarks or service marks of their respective owners risky products expectations high, and the capture of this and... Felt rushed affiliation, connection or association with and is not sponsored or by. Has also suspended its distribution reinvestment plan ( products and services grt Net Lease Investing: Where Institutional Estate... 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Report for the fiscal year ending Friday, December 31, 2021 to approve the conversion is..., filed on 2022-11-14 Contact form, text message, or voicemail the. Is often problematic for many investors the trademarks or service marks of their respective owners accepting... An investment in the United States Inc. reported that it has temporarily suspended its reinvestment. Stated it would not make a recommendation one way or the s & 500... Financial filing, filed on 2022-11-14 the tenants of its properties risky products Strategy, plans or.! Frank, Wilkinson Brimmer KatcherMeaghan Repko / Kara Sperry212.355.4449, https: //www.businesswire.com/news/home/20221101006048/en/ entity, Potential Lawsuits Recover... Investment programs encompassing over $ 20 billion in assets Institutional Access Real Estate investment Trust ( non-traded REIT Board. Corporate Bonds 556,099 units as of September 30, 2022, at time. 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