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Griffin Capital Essential Asset REIT II starts offering class I common shares

GriffinCapital Essential Asset REIT II Inc. said its board approved thecommencement of the offering of its class I common shares, effective April 25,and the corresponding allocation of shares in its ongoing public .

The company will now offer as much as roughly $1.56 billionof class T common shares and up to about $200 million of class I common shares,in addition to the estimated $240 million class A common shares previously. In line withthe decision to start offering class I common shares, the company said itsboard on March 29 voted to amend and restate the distribution reinvestment planto include references to the class I shares.

The REIT noted that it filed Articles Supplementary to itsFirst Articles of Amendment and Restatement with Maryland's Department ofAssessments and Taxation on April 25. The Articles Supplementary, which becameeffective the same day, reclassified 100.0 million authorized but unissuedclass A common shares and 50.0 million authorized but unissued class T commonshares as 150,000 class I common shares.

As of April 25, the company had sold roughly $400 million inshares of class A and class T common shares in the offering, according to afiling.