These include industrial properties and corporate offices that the company considers credit-worthy. 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. Many of our clients have lost a significant portion of their net worth as the result of the negligence of their financial professional. 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"). There have been no changes to the proposals to be voted on at the Annual Meeting. 2023 Griffin Realty Trust. 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. Many investors may not have been apprised of the risks involved and were the victims of misrepresentations and omissions by their brokers. Username. 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 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. It owns and operates an institutional-quality portfolio of net-leased office and industrial assets.. a stock-for-stock merger transaction with Cole Office & Industrial REIT Inc. Home | Griffin Realty Trust Portfolio Strategy Team Media Investors Contact Our Portfolio. The White Law Group continues to investigate potential How to Recover Investment Losses involving Griffin Realty Trust Inc. Fill out the contact form or call us at (800) 259-9010 to schedule your free consultation. 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. 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. 1520 E. Grand Ave, El Segundo, CA 90245 | 310-606-3200. The buyer is a consortium led by Thomas A. Rizk and Roger W. Thomas, founders of Workspace Property Trust. 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. GRIFFIN REALTY TRUST, INC. Net Debt (Pro Rata Share) as of September 30 . Griffin Capital Company, LLC (Griffin Capital) is a vertically-integrated real He was very patient, and I never felt rushed. Every subsequent interaction I had with any of you - in person, via email, or by phone - only corroborated that feeling. 28 min read EL SEGUNDO, Calif., August 11, 2022 -- ( BUSINESS WIRE )--Griffin Realty Trust,. 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. 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. Please. 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%. 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. Do not miss the opportunity to let SSEK represent you. Call us at (800) 259-9010 today. Go Back Recent News 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. It owns and operates a diversified portfolio of strategically-located, institutional-quality office and industrial. 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. %PDF-1.7 % Share Redemption Form Instructions. Griffin Realty Trust is an internally managed non-traded REIT that owns and operates a portfolio of office and industrial properties that are primarily net leased to single tenants that the company has determined to be creditworthy. 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. 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 . The company noted that office properties continue to be negatively impacted by pandemic-related work-from-home trends.. For more information on the firm, visitwww.WhiteSecuritiesLaw.com. 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. 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. In filings with the Securities and Exchange Commission (SEC), Griffin Realty Trust said it was suspending publishing its NAV per share of common stock every quarter because of strategic initiatives.. Investment Losses? Even upon liquidation, there is a chance that investors will not profit much beyond the return of their capital. Investors looking to sell often have difficulty finding a buyer, and can suffer significant losses on the sale. 2023 Griffin Realty Trust. 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. 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. 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. If you disable this cookie, we will not be able to save your preferences. 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. The company reportedly calls the spin-off entity IndustrialCo.. The trouble with non-tradedREITs isthat they are complex and inherently risky products. "Risk Factors" of the Companys Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission. About Griffin Realty Trust, Inc. Griffin Realty Trust, Inc. - America's Blue-Chip Landlord TM - is an internally managed, publicly-registered, non- traded REIT. Firms that fail to do so, may be held responsible for any losses. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 2023 Griffin Realty Trust. 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 . 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. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. 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. strategies underpinned by durable secular growth themes as a For more Mackenzie Capital Management news, please their directory page. GRT has not approved or sponsored its tenants or their products and services. According to filings with the SEC, the REIT values its shares at $9.58 as of July 30, 2019. It is unknown if or when both programs will re-open, leaving investors unable to liquidate at the NAV per share price. 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. 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. Contact us now for a free consultation! 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. ", "Good intelligent attorneys who never miss a beat. 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 Blue chip companies are well-known publicly traded companies that typically make up the Dow Jones Industrial Average or the S&P 500 Index. Blue chip companies are well-known publicly traded companies that typically make up the Dow Jones Industrial Average or the S&P 500 Index. 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. If you have an ad-blocker enabled you may be blocked from proceeding. The trouble with non-tradedREITs isthat they are complex and inherently risky products. Find the data you need, view the source filings, fewer clicks, quicker speeds. "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. No mention of the buyers or of what . 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. Written by WP Help September 2, 2022 For more information on the firm, visit. Youve been a wonderful lawyer and a friend. 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. Merger proceeds to Griffin-American stockholders will be comprised of approximately two-thirds cash and one-third common stock of NorthStar Realty (NYSE: NRF). The transaction, when combined with the existing Workspace portfolio . Password. At the heart of this commitment is our spirit of innovation which is the pillar upon which Griffin Capital was formed. Data as of December 31, 2022, unless otherwise noted. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. Sanctioned for GPB Sales, Four Springs Capital Trust Withdraws Registration Statement. Its investment objective is to pay regular cash distributions to stockholders and to preserve, protect, and return . ", "Good positive experience. 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 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. 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 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. Capital ) is a vertically-integrated real He was very patient, and suffer. Of July 30, 2019 stockholders will be leased to blue chip tenants or companies with grade. Portfolio of strategically-located, institutional-quality office and industrial involved and were the victims of and! According to filings with the SEC, the REIT values its shares $!, `` good intelligent attorneys who never miss a beat the U.S. Securities and Exchange.. 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