Griffin Realty Trust board neutral on unsolicited $3.76/share tender offer from CMG Partners

Peakstone Realty Trust

CMG Partners offers $3.76/share for up to 500,000 Class E shares, 49% below June 30 NAV of $7.43.
Board makes no recommendation; cites limited liquidity, ongoing strategic monetization process.
Strategic monetization: spin-off of industrial and some office assets into listed company, then liquidation.
Offer expires Oct 4, 2022; tendering shareholders assign right to distributions after that date.
Class E shares not listed on exchange; redemptions limited to death, disability, etc., with $5M quarterly cap.

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