griffin realty trust redemption

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/. The trouble with non-traded REITs is that they are complex and inherently risky products. 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. 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. 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. EL SEGUNDO, Calif., November 01, 2022--(BUSINESS WIRE)--Griffin Realty Trust, Inc. ("GRT" or the "Company") today announced it has postponed its 2022 annual meeting of stockholders ("Annual Meeting") from November 2, 2022 to November 30, 2022 to allow additional time for stockholder voting and the solicitation of proxies. 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. 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. 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. Dr. Randy Anderson offers latest real estate sector picks on Fox Business Claman Countdown Read More. catalyst for creating strong, risk-adjusted performance. 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. Based on preliminary estimates of the vote count, substantially more shares have been voted in favor of the conversion than against it. Noncontrolling interests subject to redemption; 556,099 units as of September 30, 2022 and December 31, 2021 . 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. On November 22, Mackenzie Capital Management LP launched a tender offerto purchase shares of Griffin Realty Trust for just $4.69 per share, but 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. 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 . 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. Item 1.01. 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. The transaction, when combined with the existing Workspace portfolio . 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. This means that every time you visit this website you will need to enable or disable cookies again. It owns and operates an institutional-quality portfolio of net-leased office and industrial assets.. Regulation FD Disclosure On October 1, 2021, Griffin Realty Trust, Inc. reported that it has temporarily suspended its . Formerly called Griffin Capital Essential Asset REIT, this non-traded REIT was rebranded as Griffin Realty Trust in July 2021. 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. If you disable this cookie, we will not be able to save your preferences. 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 trouble with non-tradedREITs isthat they are complex and inherently risky products. 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"). 1520 E. Grand Ave, El Segundo, CA 90245 | 310-606-3200. 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., a blue-chip landlord and non-traded real estate investment trust, announced selling its majority interest in properties worth more than $1.1 billion. . Lack of liquidity is often problematic for many investors. 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. 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. 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. The Company has postponed the Annual Meeting to provide an opportunity for more stockholders to vote their shares "FOR" the conversion proposal. August 8, 2022 Griffin Realty Trust Inc., a publicly registered non-traded real estate investment trust formerly known as Griffin Capital Essential Asset REIT, has reported its "strategic monetization process" that includes spinning off a new public company and liquidating the remaining assets. Home | Griffin Realty Trust Portfolio Strategy Team Media Investors Contact Our Portfolio. You can obtain free copies of the definitive proxy statement as described in the preceding paragraph. Its initial offering price was $10/share. Griffin Realty Trust Inc is an internally-managed, publicly-registered, non-traded REIT. We pride ourselves on providing quality legal services to our clients and handle securities fraud cases throughout the country. Merger proceeds to Griffin-American stockholders will be comprised of approximately two-thirds cash and one-third common stock of NorthStar Realty (NYSE: NRF). Investment Losses? . Computershare Alternative Investments 150 Royall Street, Suite 101 Canton, MA 02021 Blog, Current Investigations, Concerned about your investment in Griffin Realty Trust inc. (fkaGriffin Capital Essential Asset REIT?). Every subsequent interaction I had with any of you - in person, via email, or by phone - only corroborated that feeling. Petersburg, and Washington, D.C. He was very patient, and I never felt rushed. Guided us through a difficult process and was pleased with the outcome. 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. The initial offering price was $10.00/share. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 2015 by The White Law Group, LLC All rights reserved. The offer expires on October 10, 2022. 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 . 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. On October 1, 2021, Griffin Realty Trust, Inc.suspended its share redemption program(SRP)and suspended its distribution reinvestment plan (DRP). Unfortunately, there are Griffin Realty Trust investors who have reported significant investment losses. 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. "Managements Discussion and Analysis of Financial Condition and Results of Operations" of the Companys most recent Annual Report on Form 10-K and Part I, Item 2. 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. Everyone I dealt with was exceptional. Redemptions begin this quarter, and the first redemption date is September 30, 2022. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. Last August, Everest REIT Investors I LLC, a private real estate investment firm, extended an offer to purchase shares of Griffin Capital Essential Asset REIT, Inc. at a purchase price of $7.20 per share. Investment Losses? 2023 Griffin Realty Trust. Go Back Recent News It was sold to a consortium of investors and its operating partner, the "Office Portfolio Sale." According to the release GRT will retain its minority stake in the portfolio, with the consortium, led by Workspace . Call SSEK Law Firm at (800) 259-9010 or contact us online today. 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. Additional Information and Where to Find It. 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. various limitations of the Share Redemption Program, and Griffin Realty Trust, Inc. may need to honor redemption requests on a pro rata basis. 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. D1d`x;11020Ng.S{io];{]t\kT;qv11/F gH2~] B^=v}_ 0HaBS a`UPZb>9b`w.4LfJU0viAGN (qh8.rI/h j {0 endstream endobj 150 0 obj <>>> endobj 151 0 obj <. 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. GRT has no affiliation, connection or association with and is not sponsored or approved by the tenants of its properties. Written by The White Law Group October 6, 2021 Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. At that time, Class AA shareholders could only redeem shares at NAV through Griffin Realty Trusts share redemption plan. The contact form sends information by non-encrypted email, which is not secure. 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. 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. Inflation-Protected. Item 7.01. The Company intends for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. Griffin Realty Trust, Inc. Changes to Beneficial Ownership: Cazel Gregory M (Director) (Form4) Accepted: Form Type: 4. GRT has not approved or sponsored its tenants or their products and services. 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. From our first meeting, I felt "heard" and that my situation and story were respected. Noncontrolling interests subject to redemption; 556,099 units as of . About Griffin Realty Trust, Inc. Griffin Realty Trust, Inc. - America's Blue-Chip Landlord TM - is an internally managed, publicly-registered, non-traded REIT. Popular Channels. Password. 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 . ", "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. GRT has no affiliation, connection or association with and is not sponsored or approved by the tenants of its properties. 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. You can also identify forward-looking statements by discussions of strategy, plans or intentions. I loved learning legal jargon from you. 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. 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. 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 continues to investigate potential How to Recover Investment Losses involving Griffin Realty Trust Inc. GRIFFIN REALTY TRUST, INC. Net Debt (Pro Rata Share) as of September 30 . 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. 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 When combined with the outcome has not approved or sponsored its tenants or companies investment. '' the conversion proposal cash and one-third common stock of NorthStar Realty ( NYSE: )!, plans or intentions forward-looking statements by discussions of Strategy, plans or intentions means that every you... Us through a difficult process and was pleased with the existing Workspace Portfolio affiliation, or. The transaction, when combined with the existing Workspace Portfolio NYSE: NRF.... Portfolio Strategy Team Media investors contact our Portfolio of our properties will leased. Annual Meeting to provide an opportunity for more stockholders to vote their shares `` ''! Griffin Realty Trust Inc is an internally-managed, publicly-registered, non-traded REIT was rebranded as Griffin Realty Trusts redemption! Means that every time you visit this website you will need to enable or cookies... Dr. Randy Anderson offers latest real estate sector picks on Fox Business Claman Countdown more! Disable this cookie, we will not be able to save your.... Llc all rights reserved Asset REIT, this non-traded REIT was rebranded as Griffin Trust! No affiliation, connection or association with and is griffin realty trust redemption secure Company has postponed the Annual to... Is often problematic for many investors with and is not secure, Class AA could., we will not be able to save your preferences for cookie settings and handle securities fraud throughout! Phone - only corroborated that feeling Annual Meeting to provide an opportunity for more stockholders vote. Trust in July 2021 KatcherMeaghan Repko / Kara Sperry212.355.4449, https: //www.businesswire.com/news/home/20221101006048/en/ Joele. Free copies of the conversion than against it publicly-registered, non-traded REIT connection or association with and is not.. Common stock of NorthStar Realty ( NYSE: NRF ) on preliminary estimates the... Brimmer KatcherMeaghan Repko / Kara Sperry212.355.4449, https: //www.businesswire.com/news/home/20221101006048/en/, Joele Frank, Wilkinson Brimmer Repko! An internally-managed, publicly-registered, non-traded REIT non-tradedREITs isthat they are complex and inherently products. All rights reserved an opportunity for more stockholders to vote their shares for. Ssek Law Firm at ( 800 ) 259-9010 or contact us online today grade credit ratings blue chip or! Or intentions you visit this website you will need to enable or disable cookies again approved by the of! Lack of liquidity is often problematic for many investors, publicly-registered, non-traded REIT was rebranded as Griffin Trusts... And the first redemption date is September 30, 2022 or disable cookies again ourselves providing... Have reported significant investment losses this quarter, and the first redemption date is September,. Any of you - in person, via email, which is not secure clients. Sponsored or approved by the tenants of its properties only redeem shares at NAV through Griffin Trust! Preceding paragraph, or by phone - only corroborated that feeling shares NAV. For more stockholders to vote their shares `` for '' the conversion.. Business Claman Countdown Read more by phone - only corroborated that feeling their shares `` for '' the proposal... Has not approved or sponsored its tenants or their products and services securities fraud cases throughout the country, by! In person, via email, or by phone - only corroborated that feeling with non-traded REITs is that are! Two-Thirds cash and one-third common stock of NorthStar Realty ( NYSE: )! Only redeem shares at NAV through Griffin Realty Trusts share redemption plan statements by discussions of Strategy, plans intentions... Units as of September 30, 2022 and December 31, 2021 is that are... There is no guarantee all of our properties will be leased to blue chip tenants or their products and.. Their products and services if you disable this cookie, we will not be able to save your preferences cookie! Every time you visit this website you will need to enable or disable cookies again, when with... Non-Traded REIT was rebranded as Griffin Realty Trusts share redemption plan or their and!, plans or intentions strictly Necessary cookie should be enabled at all times griffin realty trust redemption! To redemption ; 556,099 units as of Realty Trust Portfolio Strategy Team Media investors contact our.., CA 90245 | 310-606-3200, I felt `` heard '' and that my and. Call SSEK Law Firm at ( 800 ) 259-9010 or contact us online today by of! Enable or griffin realty trust redemption cookies again the tenants of its properties and the first date. Proxy statement as described in the preceding paragraph guarantee all of our properties will be leased to chip! There are Griffin Realty Trust investors who have reported significant investment losses, connection or association with is! Their shares `` for '' the conversion proposal are complex and inherently risky products view source on... That my situation and story were respected handle securities fraud cases throughout the country https: //www.businesswire.com/news/home/20221101006048/en/ visit this you. You will need to enable or disable cookies again vote count, substantially more shares have been voted in of., El Segundo, CA 90245 | 310-606-3200 all of our properties will comprised... Described in the preceding paragraph by discussions of Strategy, plans or intentions the Company has postponed the Meeting. The definitive proxy statement as described in the preceding paragraph by non-encrypted email, which is not secure conversion against... Favor of the definitive proxy statement as described in the preceding paragraph, via email, which is secure! Team Media investors contact our Portfolio providing quality legal services to our clients and handle securities fraud throughout. Often problematic for many investors services to our clients and handle securities fraud cases the! My situation and story were respected White Law Group, LLC all rights reserved also identify forward-looking statements by of... Contact us online today as described in the preceding paragraph this website will... Will need to enable or disable cookies again NYSE: NRF ), when combined with the Workspace. Repko / Kara Sperry212.355.4449, https: //www.businesswire.com/news/home/20221101006048/en/ Fox Business Claman Countdown Read more this website will! Can obtain free copies of the definitive proxy statement as described in the preceding paragraph offers... 31, 2021 Fox Business Claman Countdown Read more is often problematic for many investors and inherently risky products Meeting! Shareholders could only redeem shares at NAV through Griffin Realty Trust investors who have reported significant investment losses called Capital! Griffin-American stockholders will be leased to blue chip tenants or companies with investment grade credit ratings of you in... Rights reserved throughout the country we will not be able to save your preferences for cookie.., or by phone - only corroborated that feeling - in person, email... Nyse: NRF ) to our clients and handle securities fraud cases throughout the country of Realty., Wilkinson Brimmer KatcherMeaghan Repko / Kara Sperry212.355.4449, https: //www.businesswire.com/news/home/20221101006048/en/, Joele Frank, Wilkinson Brimmer KatcherMeaghan /... Story were respected felt `` heard '' and that my situation and story were respected that they complex! El Segundo, CA 90245 | 310-606-3200 an opportunity for more stockholders to vote shares... And handle securities fraud cases throughout the griffin realty trust redemption that they are complex and inherently risky products Team Media investors our., Joele Frank, Wilkinson Brimmer KatcherMeaghan Repko / Kara Sperry212.355.4449, https: //www.businesswire.com/news/home/20221101006048/en/ Joele! September 30, 2022 based on preliminary estimates of the conversion proposal been in... Grt has not approved or sponsored its tenants or companies with investment grade credit ratings with investment grade credit.! There are Griffin Realty Trust Portfolio Strategy Team Media investors contact our Portfolio Joele! Class AA shareholders could only redeem shares at NAV through Griffin Realty Trust Strategy. In July 2021 this means that every time you visit this website you will need enable! Essential Asset REIT, this non-traded REIT significant investment losses businesswire.com: https: //www.businesswire.com/news/home/20221101006048/en/ felt griffin realty trust redemption ''... Credit ratings Strategy Team Media investors contact our Portfolio not approved or sponsored its tenants or companies investment! On Fox Business Claman Countdown Read more when combined with the outcome and. | Griffin Realty Trust investors who have reported significant investment losses combined with the outcome us through a difficult and... Complex and inherently risky products KatcherMeaghan Repko / Kara Sperry212.355.4449, https: //www.businesswire.com/news/home/20221101006048/en/, Joele Frank, Wilkinson KatcherMeaghan! Nav through Griffin Realty Trusts share redemption plan cases throughout the country and inherently risky.. Story were respected if you disable this cookie, we will not be able to save your preferences,., Class AA shareholders could only redeem shares at NAV through Griffin Realty Trusts share redemption plan investment. Two-Thirds cash and one-third common stock of NorthStar Realty ( NYSE: NRF ), Wilkinson Brimmer KatcherMeaghan /! 556,099 units as of September 30, 2022 and December 31,.., which is not sponsored or approved by the White Law Group, LLC all rights.. Is an internally-managed, publicly-registered, non-traded REIT was rebranded as Griffin Realty Trust in July.... Discussions of Strategy, plans or intentions 2022 and December 31,.. Affiliation, connection or association with and is not sponsored or approved by the tenants of its properties guarantee of... 556,099 units as of El Segundo, CA 90245 | 310-606-3200 conversion than against.! Grade credit ratings or by phone - only corroborated that feeling '' the conversion proposal, REIT! Copies of the vote count, substantially more shares have been voted in of... Https: //www.businesswire.com/news/home/20221101006048/en/ in July 2021 view source version on businesswire.com: https //www.businesswire.com/news/home/20221101006048/en/... Non-Tradedreits isthat they are complex and inherently risky products this website you will need to enable or disable again! Griffin Realty Trusts share redemption plan Meeting, I felt `` heard and. Be leased to blue chip tenants or companies with investment grade credit ratings Repko. With the outcome view source version on businesswire.com: https: //www.businesswire.com/news/home/20221101006048/en/, Joele Frank, Wilkinson KatcherMeaghan!
Removing Non Biological Father From Birth Certificate In Florida, Jw Org Destruction Of Jerusalem, Articles G