Filed Pursuant to Rule 424(b)(3)
Registration No. 333-217223
 | PROSPECTUS SUPPLEMENT NO. 2 JULY 5, 2019 | |||
| GRIFFIN CAPITAL ESSENTIAL ASSET REIT | ||||
SUPPLEMENT NO. 2 DATED JULY 5, 2019
TO THE PROSPECTUS DATED JUNE 17, 2019
This document supplements, and should be read in conjunction with, the prospectus of Griffin Capital Essential Asset REIT, Inc., formerly known as Griffin Capital Essential Asset REIT II, Inc., dated June 17, 2019, and Supplement No. 1 dated June 18, 2019. Unless otherwise defined in this supplement, capitalized terms used in this supplement shall have the same meanings as set forth in the prospectus. The purpose of this supplement is to disclose the daily net asset value, or “NAV”, per share, as determined in accordance with our valuation procedures, for each business day from June 1, 2019 through June 30, 2019, for each of our classes of common stock.
Daily Pricing Information (unaudited)
Below is the NAV per share, as determined in accordance with our valuation procedures, for each business day from June 1, 2019 through June 30, 2019.
We are exposed to the impact of interest rate changes primarily through our borrowing activities. To limit this exposure, we attempt to obtain mortgage financing on a long-term, fixed-rate basis and utilize interest rate swaps to hedge a portion of our variable rate borrowings. During the month of June 2019, continued volatility in interest rates continued to impact such fair values, in particular that of our interest rate swap, which resulted in a non-cash, transitory loss of approximately $4.3 million or approximately $0.016 per share offset by growth in asset valuation of approximately $5.2 million or approximately $0.019 per share. The slight change in NAV per share on various days is typically due to rounding. The principal balance of our borrowings is not affected by changes in interest rates, and future increases in interest rates would have a positive impact on the fair value of our fixed rate borrowings and interest rate swaps.
| Date | NAV per Share | ||||||||
| Class T | Class S | Class D | Class I | Class A | Class AA | Class AAA | Class E | ||
| June 1-3, 2019 | $9.64 | $9.63 | $9.62 | $9.62 | $9.54 | $9.54 | $9.53 | $9.54 | |
| June 4, 2019 | $9.63 | $9.63 | $9.61 | $9.61 | $9.53 | $9.53 | $9.53 | $9.54 | |
| June 5-6, 2019 | $9.63 | $9.63 | $9.62 | $9.62 | $9.53 | $9.54 | $9.53 | $9.54 | |
| June 7-9, 2019 | $9.64 | $9.64 | $9.62 | $9.62 | $9.54 | $9.54 | $9.53 | $9.55 | |
| June 10, 2019 | $9.64 | $9.63 | $9.62 | $9.62 | $9.54 | $9.54 | $9.53 | $9.54 | |
| June 11-12, 2019 | $9.64 | $9.64 | $9.63 | $9.63 | $9.54 | $9.54 | $9.54 | $9.55 | |
| June 13, 2019 | $9.64 | $9.64 | $9.62 | $9.62 | $9.54 | $9.54 | $9.53 | $9.55 | |
| June 14-16, 2019 | $9.63 | $9.63 | $9.62 | $9.62 | $9.53 | $9.53 | $9.53 | $9.54 | |
| June 17, 2019 | $9.64 | $9.63 | $9.62 | $9.62 | $9.53 | $9.53 | $9.53 | $9.54 | |
| June 18, 2019 | $9.64 | $9.64 | $9.62 | $9.62 | $9.53 | $9.54 | $9.53 | $9.54 | |
| June 19, 2019 | $9.64 | $9.64 | $9.62 | $9.62 | $9.53 | $9.53 | $9.53 | $9.54 | |
| June 20. 2019 | $9.63 | $9.63 | $9.62 | $9.62 | $9.53 | $9.53 | $9.53 | $9.54 | |
| June 21-23, 2019 | $9.63 | $9.63 | $9.62 | $9.62 | $9.53 | $9.53 | $9.52 | $9.54 | |
| June 24, 2019 | $9.64 | $9.64 | $9.62 | $9.62 | $9.53 | $9.53 | $9.53 | $9.54 | |
| June 25, 2019 | $9.63 | $9.63 | $9.62 | $9.62 | $9.53 | $9.53 | $9.53 | $9.54 | |
| June 26, 2019 | $9.63 | $9.63 | $9.62 | $9.62 | $9.53 | $9.53 | $9.52 | $9.54 | |
| June 27, 2019 | $9.64 | $9.64 | $9.62 | $9.62 | $9.53 | $9.54 | $9.53 | $9.54 | |
| June 28-30, 2019 | $9.64 | $9.64 | $9.62 | $9.62 | $9.53 | $9.53 | $9.53 | $9.54 | |
On any business day, our share sales are made based on the day’s applicable NAV per share. On each business day, our NAV per share for each class of common stock is (1) posted on our website, www.gcear.com, (2) made available on our toll-free, automated telephone line, 1-888-926-2688, and (3) made available on www.nasdaq.com.