Griffin Capital Essential Asset REIT to Explore Strategic Alternatives
Griffin Capital Essential Asset REIT, a publicly registered non-traded real estate investment trust, will be exploring strategic alternatives, including potential liquidity opportunities.
A special committee consisting of the nominating and corporate governance committee of the board of directors has engaged Robert A. Stanger & Co. as a financial advisor to assist the REIT in exploring strategic alternatives. While the board has been analyzing potential strategic alternatives and speaking with several advisers for some time, the committee noted that it wanted to take advantage of an exclusive relationship with Robert A. Stanger & Co., Inc. due to that firm’s many successes assisting other non-traded REITs over the last several years.
There is no assurance that this exploration will result in any transaction being announced or consummated, and the company does not intend to discuss further developments during this process unless and until the committee has approved a specific action or determined that further disclosure is appropriate.
In other GCEAR news, the company recently announced its second quarter earnings results, as reported by The DI Wire this week.
Robert A. Stanger & Co. is an investment banking firm that specializes in providing strategic planning, investment banking, financial advisory, fairness opinion and asset and securities valuation services to partnerships, REITs and real estate advisory and management companies in support of strategic planning and execution, capital formation and financings, mergers, acquisitions, reorganizations and consolidations.
Griffin Capital Essential Asset REIT Griffin Capital Essential Asset REIT went effective in November 2009 and closed its offering in April 2014 after raising $1.4 billion in investor equity. It currently oversees a portfolio of 76 office and industrial distribution properties totaling 18.9 million rentable square feet with a total REIT capitalization of approximately $3.4 billion.
