Skip to content
The DI Wire
Click Here to Subscribe to Our Free Daily News Updates

Griffin Capital Essential Asset REIT II Commences Follow-on Daily NAV Offering

The follow-on offering for Griffin Capital Essential Asset REIT II Inc., a publicly registered non-traded real estate investment trust, was declared effective by the Securities and Exchange Commission.

The follow-on offering consists of up to $2.2 billion of shares of common stock and now offers daily pricing. The company plans to continue acquiring single-tenant, net leased business essential office and industrial properties throughout the U.S. Griffin Capital Securities serves as the dealer manager.

The company is offering four new share classes: Class T shares, Class S shares, Class D shares and Class I shares. Class T and Class S shares are available through brokerage and transaction-based accounts, Class D shares are available through fee-based programs, and Class I shares are available to institutional investors.

Class T shares are initially priced for $9.81 each and include a 3 percent sales commission, a 0.5 percent dealer manager fee, and a 1 percent distribution fee. The distribution fee consists of an annual 0.75 percent advisor distribution fee and an annual 0.25 percent dealer distribution fee. The minimum initial investment is $2,500.

Class S shares are priced for $9.81 each and include a 3.5 percent sales commission, a 1 percent distribution fee, and no dealer manager fee. The minimum initial investment is $2,500.

Class D shares are priced for $9.47 each and have no selling commission or dealer manager fees, but include a 0.25 percent annual distribution fee. The minimum initial investment is $2,500.

Class I shares are priced for $9.47 each and have no selling commission, dealer manager fee, or distribution fee. The minimum initial investment is $1 million.

The distribution fee for Class T, Class S, and Class D shares will stop accruing when selling commissions, dealer manager fees, and distribution fees exceed 9 percent.

Griffin Capital Essential Asset REIT II is one of several REITs sponsored or co-sponsored by Griffin Capital Company. The offering was declared effective in July 2014 and initially closed in January 2017 after raising $746 million in investor equity. The company’s portfolio consists of 35 buildings situated on 27 properties with a total purchase price of approximately $1.2 billion.

Click here to visit The DI Wire directory page.