Articles Posted in Real Estate Investment Fraud

Why KBS Growth & Income REIT Investors May Want To Speak With A Savvy Non-Traded Real Estate Investment Trust Loss Lawyer

KBS REIT Discloses Liquidation Plans

If you sustained losses in KBS Growth & Income REIT, Shepherd Smith Edwards and Kantas (investorlawyers.com) can help you determine whether you have grounds for a broker negligence lawsuit. On February 13, 2023, this non-traded real estate investment trust (non-traded REIT), which is believed to have raised about $94M in common stock proceeds during its offering period from 2015 to 2019, reportedly submitted a preliminary proxy statement that included a liquidation plan.

Do You Need Skilled REIT Lawyers To Investigate Your Investor Losses?

Blackstone Blocks Withdrawals From $69B Real Estate Investment Trust 

Blackstone Inc. has announced that in January 2023, Blackstone Real Estate Income Trust (BREIT) reached its monthly redemption limit when it fulfilled about $1.3B of repurchase requests. This is about 2% of the fund’s net asset value (NAV) and around 25% of the approximately $5.3B of withdrawal requests that were received for the month.

Blackstone REIT and Starwood REIT Investor Losses

Should You Sue Your Brokerage Firm Over Your Non-Traded Real Estate Investment Trust Losses?

If you are a Starwood REIT (SREIT) or a Blackstone REIT (BREIT), you may have suffered significant losses and need to contact Trusted REIT Investor Loss Attorneys. Both non-traded real estate investment trusts (non-traded REITs) suspended redemptions to investors in early December 2022. They made this move in the wake of growing requests for investor withdrawals.

Did You Suffer Hartman vREIT XXI Investor Losses?

You May Want To Speak With Our Knowledgeable Non-Traded REIT Lawyers

Shepherd Smith Edwards and Kantas (investorlawyers.com) represent investors who may have been unsuitably recommended Hartman vREIT XXI by their financial advisor. Like many non-traded real estate investment trusts (non-traded REITs), Hartman vREIT XXI is risky and complex and may not be an appropriate investment for many investors, including conservative retail investors and elderly retirees.

Private REITs Can be Risky Even for Accredited Investors

Blackstone Real Estate Income Trust Limits Withdrawals As Some Investors Flee 

As more investors of Blackstone Real Estate Income Trust (BREIT) have been making withdrawal requests, the private real estate investment trust (private REIT) announced it would limit redemption requests.  Blackstone Inc.’s stock reportedly dropped up to 10%  in the wake of the news.

Many Appear To Have Lost Over 50% of Their Investment in Alleged Non-Traded REIT Scam

Our non-traded real estate investment trust (non-traded REIT) investor losses attorneys are investigating The Parking REIT (now called Mobile Infrastructure Corp.) for possible investment fraud. If you are a The Parking REIT investor who would like to explore your legal options, contact Shepherd Smith Edwards and Kantas (investorlawyers.com) today.

The name change to Mobile Infrastructure Corp. occurred in late 2021. The Parking REIT is no longer a real estate investment trust nor does it have to distribute funds to stockholders any longer.

New Jersey Accuses Real Estate Development Company of Defrauding 1,800 Investors 

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is investigating claims of losses by 1,800 investors. These investors may have been fraudulently sold at least $630M in securities by National Realty Investment Advisors (NRIA) between 2018 and 2022. The New Jersey-based real estate development company filed for Chapter 11 bankruptcy protection on June 8, 2022. 

An affidavit filed in US bankruptcy court notes about $600M in claims against approximately $300M of assets. On June 21, 2022, the New Jersey Bureau of Securities ordered NRIA to stop operations and accused the company of fraudulent investment sales. Investors were purportedly fraudulently sold units in the NRIA Fund. The minimum investment that investors could make was $100K.

Cetera Investment Services Broker Chang Vung Named in Six-Figure Non-Traded REIT Claim

A self-employed New York investor has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Cetera Investment Services and its broker Chang Jen Vung. The claimant sustained losses in non-traded real estate investment trusts. 

The claimant is pursuing up to $500K in damages and contends that Vung used their shared cultural affinity when recommending that he concentrate his portfolio on high commission, illiquid products. These products included Healthcare Trust Inc., Griffin Realty Trust, and NorthStar Healthcare Income REIT

Investors’ Worked With Ex-McNally Financial Broker Michael O’Meara 

An older couple from Washington State has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against McNally Financial Services and its former broker Michael Charles O’Meara. The claimants seek up to six figures in damages and contend that they were unsuitably recommended and sold Lightstone Real Estate Income Trust. 

This private, non-traded real estate investment trust (non-traded REIT) was too risky and complex for inexperienced investors like them. In September 2021, Lightstone Real Estate Income Trust changed its name to Lightstone Value Plus REIT IV, Inc. 

Cetera Broker-Dealer Unsuitably Recommended Non-Traded REITs to Retired Couple

Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm at investorlawyers.com) and Menzer & Hill, PA, are pleased to announce that a Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded our clients a $2.6M award against First Allied Securities. This includes $1.1M in compensatory damages, $818K in market-adjusted damages, more than $660K in legal fees, and $40K in other expenses.

This was a unanimous decision by the three-person panel of arbitrators, which awarded the retired couple the total amount they requested. The arbitration panel was just as troubled as our knowledgeable broker misconduct attorneys were about the actions of First Allied Securities and its financial advisors. First Allied is a Cetera Financial Group broker-dealer. 

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