Peakstone Realty Trust Investors May Have Reason To Be Wary
Our Skilled REIT Investor Loss Attorneys Can Help You Explore Your Legal Options
With Peakstone Realty Trust (NYSE: PKST), formerly Griffin Realty Trust, recently joining the New York Stock Exchange, and the dramatic reduction to the net asset value that its stock traded at, investors may have reason for concern. While its trading shares briefly went up since the debut—starting at $8/share and at one point closing at $40.45/share, but eventually dropping to under $20.00 a share. However, previous to all of that, its most recent reported net asset value (NAV) was $66.87/share after a reverse stock split that occurred in March. Many investors paid more than the reported NAV.
Peakstone Realty Trust is now a publicly registered REIT that primarily owns and runs single-tenant industrial and office properties. However, before that, it was a non-traded REIT called Griffin Realty Trust (also, at one point Cole Office & Industrial REIT (CCIT II), Inc. and Griffin Capital Essential Asset REIT), which has been the subject of multiple customer complaints. Investors contend that their broker-dealers misrepresented Griffin Realty Trust as liquid and low-risk. As a matter of fact, our non-traded REIT loss lawyers recently sued broker-dealer Securities America on behalf of a retiree who lost money in Griffin Realty Trust.
Unfortunately, there are brokerage firms that will unsuitably recommend REITs and non-traded REITs to customers because of the high commissions and fees that they can earn from the sales. Misrepresentations and omissions, concentration, and negligence are other common issues that may arise. When a real estate investment trust declines in value, serious investor losses can result especially for someone who never had the risk tolerance level or investing profile to handle that kind of activity in their portfolio.
Just because Griffin Realty Trust is now Peakstone Realty Trust doesn’t mean those previous investor loss claims go away, even if you have yet to file your broker negligence lawsuit.
Also, according to SeekingAlpha, it is “unclear” what type of shares the previous non-traded REITs investors now hold or even if they know that they now are invested in Peakstone Realty Trust.
How Can Our Seasoned REIT Loss Attorneys Help?
Shepherd Smith Edwards and Kantas (investorlawyers.com) can help you determine whether you have grounds for an investment loss claim against your brokerage firm that marketed and sold Peakstone Realty Trust/Griffin Realty Trust to you. REITs and Non-Traded REITs can be risky investments and they may become more complex when mergers and/or name changes happen or they become publicly listed. If you have suffered losses in Peakstone Realty Trust (or any of its previous iterations) that appear to be due to broker misconduct or fraud, we can help you explore your legal options.
Our savvy REIT investor loss attorneys have decades of experience pursuing damages from even the largest Wall Street firms on behalf of retail investors, retirees, high-net-worth investors, institutional investors, and others. We have the knowledge, skills, and resources to provide our clients with personalized, quality securities law representation. We have collectively recovered many millions of dollars for thousands of investors.
Filing a REIT loss lawsuit is not the type of legal claim that you want to pursue without knowledgeable broker misconduct attorneys by your side. Rulings in these types of cases, usually by a FINRA arbitration panel, are generally final with little chance for appeal. You want to build the most solid securities claim against your broker-dealer from the start.
Call (800) 259-9010 today.