Market Overview

Griffin Institutional Access® Real Estate Fund Surpasses $2.5 Billion in AUM


Real Estate Interval Fund Achieves Significant Milestone

Griffin Capital Company, LLC ("Griffin Capital") announced today that
Griffin Institutional Access Real Estate Fund (NASDAQ: GIREX, GCREX,
GRIFX, GLREX, GMREX; the "Fund") exceeded $2.5 billion in assets under
management. The Fund achieved this mark on August 22, 2018.

This press release features multimedia. View the full release here:

177 Avenue of the Americas, UBS Trumbull Property Fund, New York, NY. (Photo: Business Wire)

177 Avenue of the Americas, UBS Trumbull Property Fund, New York, NY. (Photo: Business Wire)

"Our actively managed private/public strategy and access to high quality
institutional real estate investments has led to consistent returns with
low volatility and low correlation to the broad markets since the fund's
inception," said Randy I. Anderson, Ph.D., CRE, President, Griffin
Capital Asset Management Company, LLC. "We appreciate the support of our
investors as well as our broker-dealer partners and could not be more
excited about the future of our platform."

About Griffin Institutional Access Real Estate Fund

Griffin Institutional Access Real Estate Fund (the "Fund," NASDAQ:
GIREX, GCREX, GRIFX, GLREX, GMREX), a closed-end interval fund
registered under the Investment Company Act of 1940, is an actively
managed portfolio of private real estate funds and public real estate
securities, diversified by property type, geography and fund manager,
offering daily pricing and periodic liquidity at net asset value. The
Fund will make quarterly offers to repurchase between five percent and
25 percent of its outstanding shares at net asset value. The Fund began
reporting on NASDAQ on June 30, 2014, with an initial class A share
price of $25.00 and reported a share price of $27.20 for Class A, $26.60
for Class C, $27.41 for Class I, $27.13 for Class L, and $26.96 for
Class M, as of August 24, 2018. The Adviser of the Fund is Griffin
Capital Advisor, LLC, a majority-owned subsidiary of Griffin
Capital Company, LLC.

About Griffin Capital Company, LLC

Griffin Capital Company, LLC ("Griffin Capital") is a leading
alternative investment asset manager with nearly $10.75 billion* in
assets under management. Founded in 1995, the privately held firm is led
by a seasoned team of senior executives with more than two decades of
investment and real estate experience and who collectively have executed
more than 650 transactions valued at over $22 billion.

The firm manages, sponsors or co-sponsors a suite of carefully curated,
institutional quality investment solutions distributed by Griffin
Capital Securities, LLC to investors through a community of partners,
including independent and insurance broker-dealers, wirehouses,
registered investment advisory firms and the financial advisors who work
with these enterprises.

Additional information about Griffin Capital is available at

*Includes the property information related to interests held in certain
joint ventures. As of June 30, 2018.

Risk Disclosures

This is neither an offer to sell nor a solicitation to purchase the
securities described herein. Investors should carefully consider the
investment objectives, risks, charges and expenses of Griffin
Institutional Access Real Estate Fund (the "Fund"). This and other
important information about the Fund is contained in the prospectus,
which can be obtained by contacting your financial advisor or visiting
The prospectus should be read carefully before investing.

Griffin Institutional Access Real Estate Fund is a closed-end interval
fund. Limited liquidity is provided to shareholders only through the
Fund's quarterly repurchase offers for no less than 5% of the Fund's
shares outstanding at net asset value. The Fund is only suitable for
investors who can bear the risks associated with the limited liquidity
of the Fund and should be viewed as a long-term investment.

Griffin Institutional Access Real Estate Fund's inception date was
6/30/14. As of July 31, 2018, the Fund's annualized return for
load-waived Class A shares is 7.22% since inception and 6.22% for one
year. During that period, the S&P 500 had an annualized return of 11.55%
and a one-year return of 16.24%. Since inception, the Fund's load-waived
Class A share generated a standard deviation of 2.08% and a sharpe ratio
of 3.19. The S&P 500 had a standard deviation of 9.86% and a sharpe
ratio of 1.11 during that period.

All performance calculations and metrics are sourced from Morningstar
Direct and are based on monthly data. Performance data for Griffin
Institutional Access Real Estate Fund uses a load-waived, Class A share
and does not reflect a maximum sales charge of 5.75% for Class A shares.
Investors of the load waived class A share do not pay a front-end sales
load. If the data reflected the deduction of such fees, the performance
would be lower. Performance data quoted represents past performance;
past performance does not guarantee future results. The investment
return and principal value of an investment will fluctuate so that an
investor's shares, when redeemed, may be worth more or less than the
original cost. Current performance may be lower or higher than the
performance quoted. The most recent performance is available at,
which includes returns that reflect a maximum sales charge for Class A

Performance reflects management fees and other expenses. Performance
also reflects the reinvestment of dividends and distributions.

The Fund has contractually agreed to waive its fees to the extent that
they exceed 1.91% for Class A, 2.66% for Class C, 1.66% for Class I,
2.16% for Class L, and 2.41% for Class M. The Expense Limitation
Agreement will remain in effect at least through February 1, 2019. Fund
returns would have been lower had expenses not been waived during the
period. Returns shown do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or the redemption of Fund
shares. The total gross expense ratio is 2.30% for Class A, 3.05% for
Class C, 2.04% for Class I, 2.46% for Class L, and 2.73% for Class M.

The Fund will not invest in real estate directly, but, because the Fund
will concentrate its investments in securities of REITs and other real
estate industry issuers, its portfolio will be significantly impacted by
the performance of the real estate market and may experience more
volatility and be exposed to greater risk than a more diversified
portfolio. The value of companies engaged in the real estate industry is
affected by: (i) changes in general economic and market conditions; (ii)
changes in the value of real estate properties; (iii) risks related to
local economic conditions, overbuilding and increased competition; (iv)
increases in property taxes and operating expenses; (v) changes in
zoning laws; (vi) casualty and condemnation losses; (vii) variations in
rental income, neighborhood values or the appeal of property to tenants;
(viii) the availability of financing and (ix) changes in interest rates
and leverage.

The S&P 500 is an index based on market cap of the 500 largest companies
having stock listed on the New York Stock Exchange (NYSE) or NASDAQ.
Investors cannot invest directly in an index.

Sharpe ratio measures risk-adjusted returns by calculating the excess
return (above the risk-free rate) per unit of risk (standard deviation).
The higher the ratio, the better the risk-adjusted returns. The average
3-month U.S. Treasury T-bill auction was used as the risk free rate in
this material.

Standard deviation measures the average deviations of a return series
from its mean, and is often used as a measure of volatility/risk. A
large standard deviation implies that there have been large swings in
the return series of the manager.

Griffin Institutional Access Real Estate Fund is distributed by ALPS
Distributors, Inc. ALPS Distributors, Inc. is not affiliated with either
Griffin Capital or any of its affiliates.

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IU-GI823 (082718) | GFC000733 | Exp. 08.31.19

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