UPDATE FOR ALL G REIT INVESTORS – OCTOBER 2019
The single remaining asset of G REIT, a promissory note in the principal amount of $12,000,000 (the “Note”), remains outstanding. In consideration for payment of multiple extension fees to the G REIT, the Trustees have agreed to allow the borrower to extend the Note term beyond the original maturity date. The Note is currently in good standing and continues to earn interest at 5% per annum.
Given the relatively small pro-rata dollar amounts that will be paid to each G REIT investor upon Note maturity, the Trustees have elected to limit expenses (which would reduce the amounts distributed) by waiting to make a single, final distribution upon receipt of the last payment under the Note. Currently, the final distribution date is undetermined. We will continue to update the G REIT website with information as it becomes available.
As in 2018, the 2019 per Unit value remains $0.23. This amount was determined by dividing the value of the Note, less estimated expenses, by the total number of outstanding Units.
Having completed the high volume of investor registrations and transfers associated with the 2017 distribution, in anticipation of making the final distribution and concluding operations, and in a further effort to limit expenses and maximize investor returns, G REIT is once again processing all such requests in-house. Please direct all transfer and registration requests to GREIT Liquidating Trust, 2772 Roosevelt Street, #951, Carlsbad, CA 92018 or contact our investor relations representative at the email address or telephone number above.