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Written by 6:39 pm Blog, Current Investigations

Griffin Realty Trust Inc. Decreases NAV and Limits Redemptions 

Griffin Realty Trust Inc. Decreases NAV and Limited Redemptions, featured by top securities fraud attorneys, the White Law Group

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 improperly recommending Griffin Realty Trust Inc. to investors.   

Griffin Realty Trust (formerly known as Griffin Capital Essential Asset REIT), a publicly registered non-traded REIT, is focused on business-essential office and industrial properties that are primarily net leased to single tenants, according to its website. 

The company reported an updated Net Asset Value (NAV) per share of $7.42 as of June 30, 2022, a decrease from last year’s NAV of $9.10 per share – a decline of 18%. According to the filings, the company reported that the lowered NAV is due to the decrease in the value of office properties, which was partially offset by an increase in the value of its industrial properties. 

The company noted that “office properties continue to be negatively impacted by pandemic-related work-from-home trends.”  

The REIT also amended and restated its share redemption program(SRP) and will redeem shares in connection with a stockholder’s death, qualifying disability or determination of incompetence or incapacitation. Redemptions begin this quarter, and the first redemption date is September 30, 2022. 

On October 1, 2021, Griffin Realty Trust, Inc. suspended its share redemption program (SRP) and suspended its distribution reinvestment plan (DRP).  

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.   

This comes after the company completed a stock-for-stock merger transaction with Cole Office & Industrial REIT Inc.  

Potential Lawsuits to Recover Financial Losses  

The trouble with non-traded REITs is that they are complex and inherently risky products.  

Lack of liquidity is often problematic for many investors.  Investors looking to sell often have difficulty finding a buyer, and can suffer significant losses on the sale.  

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 investor’s age, risk tolerance, net worth, and investment experience. Firms that fail to do so, may be held responsible for any losses.  

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 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. For more information on the firm, visit www.WhiteSecuritiesLaw.com 

   

   

  

  

  

 

 

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