morgan stanley prime property fund annual report

As such this category may change in the future. Fund Administration and Accounting Fees and Expenses. Counsel with preschool director around staff, school programs and best practices. Morgan Stanley Prime Property Fund $1.1 billion Fund Redemption Queue Balances AEW Core Property Trust $160.0 million, 2.0% of $8.0 billion of Fund NAV Heitman America Real Estate Trust $1.2 billion, 11.5% of $10.4 billion of Fund NAV Morgan Stanley Prime Property Fund $0.0 million, of $34.1 billion of Fund NAV As of . GRIFFIN INSTITUTIONAL ACCESS REAL ESTATE FUND | SEMI-ANNUAL REPORT 2016 . The schedule of investments is included as part of the Reports to Stockholders filed under Item 1 of this report. Oversee all . Trustees Consideration and Approval of continuation of Sub-Advisory Agreement with CenterSquare. Performance data for funds with less than one year's track record is not shown. hbbd```b``fA$zHvK'dV&60,+&;@w@c3"-vH`-9`WLL`4$30 0 t )E;CIa#939$N JC'IG8u+ zM7Dy(9 @0N%y0DH"%P"R*M6Fs{YLra]~{fvn~o? Total returns would have been lower had certain expenses not been waived during the period. As of October 3, 2016 the private securities represent over $139 billion of real estate and 2,196 investments diversified by sector, geography and manager. Mr. Propper holds a Masters of Business Administration and Bachelor of Science in Finance and Real Estate from the University of Central Florida. We are pleased to present the Griffin Institutional Access Real Estate Fund's (the "Fund") annual report. Following further consideration and discussion, the Board indicated that AHICs standards and practices relating to the identification and mitigation of potential conflicts of interests were satisfactory. The investment objective of the Fund is to generate a return comprised of both current income and capital appreciation with moderate volatility and low correlation to the broader markets. Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. The original Morgan Stanley Prime Property Fund is 47 years old and manages around $30B of assets in all real estate sectors across the U.S. . Multicultural and women entrepreneurs are the cutting-edge leaders of businesses that power markets. endstream endobj 765 0 obj <>/Metadata 16 0 R/OCProperties<>/OCGs[791 0 R]>>/Outlines 22 0 R/PageLayout/SinglePage/Pages 762 0 R/StructTreeRoot 27 0 R/Type/Catalog>> endobj 766 0 obj <>/ExtGState<>/Font<>/Properties<>/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 767 0 obj <>stream GRIFFIN INSTITUTIONAL ACCESS REAL ESTATE FUND. We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. 1.2% JLL Income Property Trust 3.3 78 5.6% Morgan Stanley Prime Property Fund 31.9 444 3.6% Principal Enhanced Property Fund 3.8 54 7.2% PRISA LP 26.1 250 3.0% Prologis Targeted U.S. As of September 30, 2016, the Fund had $1,066,237,965 of the private and public securities pledged as collateral for its lines of credit. In response to any request from a Client or an Investor, the CCO will prepare a written response with the information requested. Win whats next. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In general, proxy voting is an important right of shareholders and reasonable care and diligence must be undertaken to ensure that such rights are properly and timely exercised. Information concerning the Trustees and officers of the Fund is set forth below. The fund is located in New York, New York and invests in Northern California, Southern California, Chicago, South Florida, Chicago, Washington D.C., Boston and New York across the United States. For the year ended September 30, 2016, the Distributor received $1,550,339 in underwriting commissions for sales of the Funds Class A shares, of which $0 was retained by the principal underwriter or other affiliated broker-dealers. Select a trending topic or type your . The Adviser is responsible for the allocation of, or in the case of the Non-discretionary Client, recommendations regarding the allocation of, assets on behalf of the Clients to Underlying Funds, which may include hedge funds and other alternative investment pools that are structured as limited partnerships, limited liability companies or offshore corporations. Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research. Underlying Funds, if privately placed, generally are not subject to the regulatory scheme applicable to public companies. Get the latest insights, analyses and market trends in our newsletter, podcasts and videos. The Trustees noted that the Fund commenced operations on June 30, 2014, and continued to gather assets. In considering the nature, extent, and quality of the services provided by the Adviser, the Trustees considered the responsibilities of the Adviser under the Investment Advisory Agreement and reviewed the services provided to the Fund including, without limitation, the Advisers procedures for formulating investment recommendations and assuring compliance with the Funds investment objectives and limitations, coordination of services for the Fund among the Funds service providers, and efforts to promote the Fund, grow the Funds assets, and assist in the distribution of Fund shares. The graph shown above represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. All rights reserved. The Trustees also considered potential benefits for the Adviser in managing the Fund, including promotion of the Advisers name, the ability for the Adviser to place small accounts into the Fund, and the potential for the Adviser to generate soft dollars from Fund trades that may benefit the Advisers other clients. The registrant has not adopted procedures by which shareholders may recommend nominees to the registrants Board of Trustees. . Past performance is not a reliable indicator of future results. The Funds Private Allocation Sub-Advisor, Aon Hewitt Investment Consulting, an Aon Company, provides investment consulting services to over 480 clients in North America with total client assets worldwide of approximately $4 trillion, including more than $3 trillion in the U.S. as of December 31, 2015. The Board of Trustees of the registrant has designated Mr. Ira Cohen as the registrants Audit Committee Financial Expert. The CCO shall retain the following proxy records in accordance with the Advisers Recordkeeping Policy: These policies and procedures and any amendments; Each Proxy statement that the Adviser receives; A record of each vote that the Adviser casts; Any document the Adviser created that was material to making a decision how to vote Proxies, or that memorializes that decision; A copy of each written request from a Client or Investor for information on how the Adviser voted such Clients Proxies, and a copy of any written response. We have strategically shifted the portfolio composition in favor of managers whom we believe are best poised to deliver outsized growth of key operating metrics. Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. We have the experience and agility to partner with clients from individual investors to global CEOs. A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. A portion of these securities are held as collateral for the outstanding Line(s) of Credit. 31-Jan-2023, As of You cannot invest directly in an index. In considering the investment performance of the Fund and AHIC, the Trustees discussed the performance of the private investments portion of the Fund. The fund is located in Mumbai, India. From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets. Absent material conflicts, the President of the Adviser, in consultation with the Investment Committee, will determine how the Adviser should vote the Proxy in accordance with applicable voting guidelines (see below), taking into account the recommendation of the Portfolio Manager. At Morgan Stanley, giving back is a core valuea central part of our culture globally. The Trustees noted that the Fund commenced operations on June 30, 2014, and continued to gather assets. The firm currently manages $8.2 billion across a variety of real estate strategies as of December 31, 2015. It is calculated by annualizing the most recent Fund distribution yield. The valuation techniques used by the Fund to measure fair value during the year ended September 30, 2016 maximized the use of observable inputs and minimized the use of unobservable inputs. Ubs Triton Property Fund Annual Report Our Financial Author: mx.up.edu.ph-2023-02-28T00:00:00+00:01 Subject: Morgan Stanley Real Estate Advisor, Inc.-Street Address 1 Street Address 2; 1585 BROADWAY: FLOOR 37: City State/Province/Country ZIP/PostalCode; NEW YORK: NEW YORK: 10036: . All Rights Reserved. A $1B fund might provide more than $10M in annual . Management has reviewed the tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken in the Funds 2014 and2015 returns or expected to be taken in the Funds 2016 returns. Any Trustee may be removed at a meeting of shareholders by a vote meeting the requirements of the Funds organizational documents. These policies are in conformity with accounting principles generally accepted in the United States of America (GAAP). Prior to Bluerock, Dr. Anderson was a founding partner of Franklin Square Capital Partners, the firm that pioneered the non-traded Business Development Company. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. In consideration of the Advisers agreement to limit the Funds expenses, the Fund has agreed to repay the Adviser in the amount of any fees waived and Fund expenses paid or absorbed, subject to the limitations that: (1) the reimbursement for fees andexpenses will be made only if payable not more than three years from the end of the fiscal year in which they were incurred; and (2) the reimbursement may not be made if it would cause the Expense Limitations to be exceeded. Learn how we strive to deliver results for our shareholders. The largest outstanding borrowing during the year ended September 30, 2016 relating to BNP was $65,000,000. Morgan Stanley Real Estate Investing Prime Property Fund Availability of Adviser's Form ADV For the Exclusive Use of SDCERS STRICTLY PRIVATE AND CONFIDENTIAL - NOT FOR REPRODUCTION Important Notices (cont'd) 5 Limitations on Use; Distribution of These Materials in Certain Jurisdictions. Aggregate Bond Index in each of the since inception, trailing one year, and year to date through May 31, 2016 periods. YTD performance data is not annualised. Contact Information Fund Manager Morgan Stanley Fund Manager Website www.morganstanley.com Fund Category Real Assets - Real Estate Native Currency USD Fund Manager's Location 18th Floor, Tower 2, One World Center The subject matter contained herein has been derived from several sources believed to be reliable and accurate at the time of compilation. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliates Purchasers. If the outcome that might result from a proxy solicitation could cause any Non- discretionary Client to fall out of compliance with its Investment Guidelines, the Adviser shall consult each such Non-discretionary Client prior to voting the proxy and shall take direction from such Non-discretionary Client, in the form of a completed Exhibit B, as to how to vote the proxy. At a meeting of the Funds Board of Trustees on June 21, 2016 the Trustees approved the continuation of the Investment Advisory Agreement for a one-year term. The portion of distributions paid not attributable to net investment income or net realized gains on investments, if any, is distributed from the Funds assets and is treated by shareholders as a nontaxable distribution (Return of Capital) for tax purposes. Office of LA County Assessor Jeff Prang - Committed to establishing accurate & fairly assessed property values. Liability Driven Investing (LDI) Customized solutions structured to fit your LDI needs. NIC Audit Committee Report September 2020.pdf. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. Total returns are for the period indicated and have not been annualized and do not reflect the impact of sales charges. As of September 30, 2019. Reported distributions from net investment income and realized gains on investments are not an indication as to whether or not the Funds distributions are supported by the Funds returns. The Fund is a closed-end interval fund that provides liquidity to shareholders through a quarterly repurchase offer. Accumulated Net Realized Gain on Investments. The percentage represents a single distribution from the Fund and does not represent the total return of the Fund. Privacy & Cookies The amount being invested in the Morgan Stanley Prime Property Fund follows the pension fund's initial $50m investment in 2013 and a $65m commitment two years ago. Griffin Capital Securities, Inc. does not accept any liability for losses either direct or consequential caused by the use of this information. QUESTIONS! Our monthly Global Equity Observer shares our thoughts on world events as seen through the lens of our high quality investment process. To the Board of Trustees and the Shareholders of. Healthcare Trust of America, Inc., Class A, 1.888.926.2688 | www.griffincapital.com, TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $1,122,109,673), TOTAL INVESTMENTS (100.16%) (Cost $1,122,109,673), Liabilities in Excess of Other Assets (-0.16%). In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. In addition, two or more Clients may have different investment objectives or investment styles. Griffin Institutional Access Real Estate Fund A Without Load, Griffin Institutional Access Real Estate Fund A With Load*, Barclays Capital U.S. Over the past twelve months and through careful portfolio composition, we reduced our exposure to the multi-family sector by 603 basis points and increased our office exposure by 482 basis points. Candice Todd is a Managing Director of Morgan Stanley and the CFO of Prime Property Fund, responsible for the Fund's capital structure and REIT compliance. 3. An investor cannot invest directly into an index. Browse through ourlatestearningsreleases, financial statements, presentations and webcasts. Spencer Propper Mr. Propper serves as Vice President of Griffin Capital Advisor, LLC and Associate Portfolio Manager of Griffin Institutional Access Real Estate Fund. Adjusted for initial maximum sales charge of 5.75%. 2014, Fund Controller, ALPS Fund Services, Inc., 2011, Vice President and Assistant Secretary Since 2015, Vice President and General Counsel Securities, Griffin Capital Corporation, 2014, Vice President and Senior Counsel, ALPS Fund Services, Inc. 2015. Insurance Asset Management. Distribution Policy Risk. Item 5. After several years of growing tensions, the potential for a reset under. Shareholders should note that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares. 8 - Prime Property Fund") sponsored and maintained by The Equitable Life Assurance Societyof the UnitedStates. Currently, no secondary market exists for the Funds shares, and the Fund expects that no secondary market will develop. Demand continues to outstrip supply, which has helped keep vacancy rates below their long-term averages and prompt favorable conditions for landlords to increase rents for most asset types. These include commercial paper, open FX transactions, Treasury bills and other short-term instruments. At Morgan Stanley, we put our beliefs to work. The fund may be impacted by movements in the exchange rates between the fund's currency and the currencies of the fund's investments. The Adviser supervises the investments of the Fund pursuant to an Investment Advisory Agreement. Pursuant to the Investment Advisory Agreement with the Fund (Advisory Agreement), the Adviser is entitled to an investment advisory fee, computed daily and payable monthly of 1.50% of the average daily net assets of the Fund. from your original investment) and not a return of net profit. Various inputs are used in determining the value of the Funds investments as of the reporting period end. All rights reserved. Aggregate Bond Index is a market value-weighted index of investment grade fixed-rated debt issues, including government, corporate, asset-backed and mortgage-backed securities with a maturity of one year or more. The Trustees noted that the Funds principal officers are personnel of the Adviser and its affiliates serve the Fund without additional compensation. The Funds most recent quarterly distribution payment (September 2016) represented an annualized 5.22% rate. Stay on top of today's volatile markets with these timely resources. The continued growth has allowed the portfolio to further diversify by property type, geography and fund manager. The Trustees then compared the fees and expenses of the Fund (including the management fee) to other funds comparable in terms of the type of fund, the nature of its investment strategy, and its style of investment management, among other factors. The Portfolio Manager may take into account information provided by the Underlying Funds personnel regarding the nature of the proxy.

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