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Griffin Capital Essential Asset REIT II commences follow-on daily NAV offering
Real Estate - SEPTEMBER 21, 2017

Griffin Capital Essential Asset REIT II commences follow-on daily NAV offering

by Released

Griffin Capital Co. announced the follow-on offering for Griffin Capital Essential Asset REIT II (GCEAR) was declared effective by the SEC as of September 20, 2017. GCEAR is a public, non-listed real estate investment trust with, as of June 30, 2017, an existing, robust portfolio consisting of 35 buildings situated on 27 properties located in 17 states and representing an aggregate purchase price of approximately $1.2 billion. The GCEAR portfolio maintains a current weighted-average remaining lease duration of nearly 11 years with approximately 80% of its net income generated by tenants and/or a ‘parent’ with an investment grade rating.

The follow-on offering consists of up to $2.2 billion of shares of GCEAR’s common stock and now offers daily pricing transparency. GCEAR will continue its stated investment objective and acquire income producing, long term, single-tenant, net-leased business-essential office and industrial properties throughout the U.S. GCEAR will continue to scale its portfolio and diversify by corporate credit, physical geography, product type and lease duration as it maintains its focus to provide regular cash distributions to its shareholders.

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