{"id":16921,"date":"2017-09-21T15:47:14","date_gmt":"2017-09-21T19:47:14","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&p=16921"},"modified":"2017-09-21T15:47:59","modified_gmt":"2017-09-21T19:47:59","slug":"griffin-capital-essential-asset-reit-ii-commences-follow-on-offering","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/griffin-capital-essential-asset-reit-ii-commences-follow-on-offering\/","title":{"rendered":"Griffin Capital Essential Asset REIT II Commences Follow-On Offering"},"content":{"rendered":"
September 21, 2017 | Luke Schmidt | Blue Vault<\/p>\n
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On September 20, 2017, Griffin Capital Essential Asset REIT II, Inc. commenced its follow-on offering of up to $2.2 billion of its common shares after the offering was declared effective by the SEC.\u00a0 The offering consists of up to $2.0 billion of shares in a primary offering and up to $200 million of shares under the Company\u2019s distribution reinvestment plan.<\/p>\n
In the offering, the Company will offer to the public four new classes of shares:\u00a0 Class T shares, Class S shares, Class D shares and Class I shares.\u00a0 The Company is offering to sell any combination of Class T, Class S, Class D and Class I shares with a dollar value up to the maximum offering amount.\u00a0 Initial share prices were $9.81 (NAV plus commissions and dealer manager fees) for Class T, $9.81 (NAV plus commissions) for Class S, $9.47 for Class I, and $9.47 for Class D.<\/p>\n
Additionally, on September 20, 2017, the Company reclassified all Class T shares sold in their initial public offering as \u201cClass AA\u201d shares and all Class I shares sold in their initial public offering as \u201cClass AAA\u201d shares.\u00a0<\/p>\n
The REIT is offering to the public Class T, S, D and I shares in this primary offering.\u00a0 Class T, S, D and I shares, as well as its IPO shares comprising of Class A, AA and AAA shares, are being offered under the distribution reinvestment plan.\u00a0 As of August 31, 2017, the Company had 76,307,690 IPO shares outstanding.<\/p>\n
Griffin Capital Essential Asset REIT II is an unlisted real estate investment trust that now posts a daily net asset value.\u00a0 The REIT portfolio consists of 27 properties totaling $1.12 billion in real estate acquisition value.<\/p>\n
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Learn more about Griffin Capital Company, LLC on the Blue Vault Sponsor Focus page.<\/p>\n
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