Griffin Capital Company, LLC (“Griffin Capital”) announced today that Griffin Institutional Access Real Estate Fund (the “Fund”) surpassed $5 billion in assets under management, following a year in which the Fund posted its best calendar year of performance since inception. In addition to record annual performance, posting a total return of 23.71% (NASDAQ: GRIFX) in 2021, the Fund produced its best quarter of performance since inception in the fourth quarter of 2021 and concluded the year by delivering its best month of performance since inception in December 2021
We are pleased with the Fund’s strong performance and asset growth in 2021,” said Dr. Randy Anderson, Chief Executive Officer of Griffin Capital Asset Management Company. “We allocated a significant amount of capital to our high conviction themes (multifamily, industrial, and specialty1) which contributed to the Fund’s returns in 2021, and consequently bolstered exposure to sectors that we believe may benefit from secular growth trends.”
Since inception, the Fund has generated positive returns in 28 of 30 quarters with an annualized volatility (standard deviation) of 3.54% as of December 31, 2021. Historically, commercial real estate has served as a hedge against inflation and used as an important asset allocation tool by both institutional and individual investors to generate tax-efficient income.
“We continue to deploy both a quantitative and qualitative investment management process focusing on growth across markets and sectors,” said Spencer Propper, Chief Operating Officer of Griffin Capital Asset Management Company. “We believe that the Fund’s performance throughout 2021 is a testament to our ability to source compelling opportunities across all four quadrants of the investable commercial real estate universe, a unique characteristic of our strategy.”
Griffin Institutional Access Real Estate Fund Results (Class I Shares as of December 31, 2021)
23.71% total return during 2021 (best calendar year since inception).
8.73% total return during 4Q21 (best quarter since inception).
3.82% total return during December 2021 (best month since inception).
77.74% cumulative total return and 7.97% annualized total return, since inception.
28 out of 30 positive quarters since inception.
Specialty is comprised of property types such as life science and student housing.
Past performance is not indicative of future results. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Performance source: Morningstar Direct. Performance includes reinvestment of distributions and reflects management fees and other expenses. Assets and securities contained within indices and peer funds may be different than the assets and securities contained in the Fund and will therefore have different risk and reward profiles. An investment cannot be made in an index, which is unmanaged and has returns that do not reflect any trading, management or other costs. The Fund return does not reflect the deduction of all fees, including third-party brokerage commissions or third-party investment advisory fees paid by investors to a financial intermediary for brokerage services. If the deduction of such fees was reflected, the performance would be lower. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. The most recent performance is available at www.griffincapital.com or by calling 888.926.2688.
About Griffin Institutional Access Real Estate Fund
Griffin Institutional Access Real Estate Fund, a closed-end interval fund, registered under the Investment Company Act of 1940, is an actively managed portfolio of private and public real estate securities, diversified by property type and geography, offering daily pricing and periodic liquidity at net asset value. The Fund will make quarterly offers to repurchase between 5% and 25% of its outstanding shares at net asset value. The Fund is advised by Griffin Capital Advisor, LLC (“GCA”). GCA is registered as an investment adviser with the U.S. Securities and Exchange Commission (the “SEC”) pursuant to the provisions of the Investment Advisers Act of 1940, as amended. GCA is an indirect majority-owned subsidiary of Griffin Capital Company, LLC. Registration with the SEC does not constitute an endorsement by the SEC, nor does it imply a certain level of skill or training.
About Griffin Capital Company, LLC
Griffin Capital is a privately held alternative investment asset manager headquartered in Los Angeles, California. Founded in 1995, Griffin Capital has owned, managed, sponsored or co-sponsored investment programs encompassing over $20 billion in assets. 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.
The company leverages the breadth and depth of its cycle-tested investment management teams to capitalize on long-term economic trends and secular growth opportunities in real estate and global corporate credit through interval funds and direct investment strategies. Investors can access these investment solutions exclusively through independent and insurance broker-dealers, national wirehouses and registered investment advisors.