Griffin Capital’s Interval Fund Reports Highest Quarterly Return Since Inception

Griffin Institutional Access Real Estate Fund, a closed-end, interval fund sponsored by Griffin Capital, has reported its highest quarterly return since inception.

Griffin Institutional Access Real Estate Fund, a closed-end, interval fund sponsored by Griffin Capital, has reported its highest quarterly return since inception.

Griffin Institutional Access Real Estate Fund’s Class I shares (NASDAQ: GRIFX) generated a 5.10 percent total return in the second quarter, bringing its trailing one-year total return to 13.39 percent as of June 30, 2021.

“We believe the fund’s strong performance during the quarter demonstrated the efficacy of our diversified real estate strategy which allocates across equity and debt investments within both private and public real estate securities,” said Dr. Randy Anderson, chief executive officer of Griffin Capital Asset Management Company.

According to the company, since inception seven years ago, the fund has generated positive returns in 26 of 28 quarters with an annualized volatility (standard deviation) of 3.17 percent as of June 30, 2021, in line with the Bloomberg Barclays U.S. Aggregate Bond Index, which registered an annualized volatility of 3.12 percent during the same period.

Spencer Propper, chief operating officer of Griffin Capital Asset Management Company, said that the fund continues to “actively allocate” capital to investment opportunities within industrial, multifamily, and specialty properties, along with private debt.

Thus far in 2021, the fund’s Class I shares generated an 8.79 percent total return, outperforming the Bloomberg Barclays U.S. Aggregate Bond Index by 10.39 percent through June 30, 2021, the company said.

Additionally, Griffin noted that the fund has observed a “meaningful uptick” in shareholder capital raise. During the second quarter of 2021 inflows increased 64 percent over the prior quarter.

Griffin Institutional Access Real Estate Fund had $4 billion in assets under management as of June 30, 2021.

Griffin Institutional Access Real Estate Fund (NASDAQ: GIREX, GCREX, GRIFX, GLREX, GMREX) is a managed portfolio of private real estate funds and public real estate securities, diversified by property type and geography, offering daily pricing and periodic liquidity at net asset value. The fund, which is advised by Griffin Capital Advisor, will make quarterly offers to repurchase between 5 percent and 25 percent of its outstanding shares at net asset value.

Griffin Capital is an alternative investment asset manager that has owned, managed, sponsored or co-sponsored investment programs encompassing more than $20 billion in assets since 1995.

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