Griffin Capital Corporation announced this morning that the Griffin Institutional Access Real Estate Fund (NASDAQ: GIREX) (GIREX) exceeded $100 million in assets under management. The closed-end interval fund began reporting on the NASDAQ on June 30, 2014.
“We are pleased with the growth of GIREX. Our ability to reach this asset milestone in a short period of time demonstrates the value advisors see in our investment strategy – that provides individual investors access to a portfolio of both public and private real estate securities diversified by sector, geography and manager,” commented Randy I. Anderson Portfolio Manager of GIREX.
The fund offers investors an actively-managed portfolio of private real estate funds and public real estate securities with daily pricing and occasional liquidity.
Griffin Capital Advisors, LLC, a majority owned subsidiary of Griffin Capital Corporation, advises the fund while Aon Hewitt Investment Consulting (AON) and CenterSquare Investment Management (CenterSquare) provide sub-advisory services. Aon is responsible for private real estate fund allocations and CenterSquare handles public real estate securities investment activity.
From inception (June 30, 2014) through March 31, 2015, GIREX has returned 8.04 percent. GIREX’s initial share price was $25 and as of June 1, 2015, reported a net asset value (NAV) of $26.03.