Peakstone Realty Trust, Formerly Griffin Realty Trust Losses

Are you an investor who has experienced significant losses with investments in Griffin Realty Trust? Levin Papantonio Rafferty’s expert legal team is ready to help you recoup your losses from the brokerage firms that sold you this investment.

Griffin Realty Trust, an internally managed, publicly registered non-traded real estate investment trust (non-traded REIT), primarily comprises single tenant essential business properties across the United States. Formerly Griffin Capital Essential Asset REIT, it rebranded to Griffin Realty Trust in July 2021 with an initial offering price of $10 per share.

Notably, the company underwent another transformation in March 2023, adopting the name Peakstone Realty Trust before pursuing a listing on the New York Stock Exchange (NYSE). On April 13, 2023, Peakstone Realty Trust debuted on the NYSE under the ticker symbol “PKST.”

Regrettably, a number of Griffin Realty Trust investors have reported major investment losses, with suggestions that brokers may have unsuitably sold this non-traded REIT to them. Levin Papantonio Rafferty stands by investors in these situations and offers assistance in pursuing recovery of their losses from the responsible brokerage firms.

In 2021, Griffin Realty Trust experienced significant events, including a finalized stock-for-stock merger with Cole Office & Industrial REIT Inc., bringing its total assets to over 120 properties with a $5.8B total valuation. There were also unsolicited tender offers from CMG Partners, LLC, and Tel-Aviv-based Comrit Investments I, LP. Griffin Realty Trust notably suspended its share redemption program and distribution reinvestment plan in October of the same year.

Non-traded REITs like Griffin Realty Trust tend to appeal to investors seeking higher yields, but they come with inherent risks due to their illiquid nature and the lack of trading on national securities exchanges. This investment strategy may not be suitable for everyone, and it may come with undisclosed risks that your financial advisor or broker might not have fully explained.

High commission incentives may encourage brokers to push these non-traded REITs, including Griffin Realty Trust, to investors who might not be suitable for such an investment strategy, resulting in losses. If you feel that you’ve been a victim of misrepresentation or omissions by your broker, our team at Levin Papantonio Rafferty is ready to help.


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