Griffin Realty Trust remains neutral on unsolicited $3.40/sh tender offer by CMG Partners

Peakstone Realty Trust

Unsolicited offer from CMG Partners to buy up to 500,000 Class A/AA shares at $3.40/sh, ~54% below $7.37 NAV.
Board makes no recommendation, citing limited liquidity and ongoing strategic monetization process.
Strategic monetization includes spin-off of industrial/office assets onto national exchange; no assurance of timing or price.
Share redemption plan has $6.1M unfulfilled requests; limited redemptions except for death/disability.
Tendered shares assign rights to distributions after Feb 22, 2023; payment ~March 16, 2023.

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