SEC News
- SEC Charges Chicago-Area Father and Son Conducted Cherry-Picking Scheme at Investment Firm May 16, 2013FOR IMMEDIATE RELEASE2013-90 Washington, D.C., May 16, 2013 — The Securities and Exchange Commission today charged a father and son and their Chicago-area investment advisory firm with defrauding clients through a cherry-picking scheme that garnered them nearly $2 million in illicit profits, which they spent on luxury homes, vehicles, and vacations. Addition […]
- SEC Names Keith F. Higgins as Director of Division of Corporation Finance May 15, 2013FOR IMMEDIATE RELEASE2013-89 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today named Keith F. Higgins as the new director of the agency’s Division of Corporation Finance. Mr. Higgins comes to the SEC from the law firm of Ropes & Gray LLP where he is a partner in its Boston office with 30 years of experience advising public com […]
- SEC Names Lona Nallengara as Chief of Staff May 15, 2013FOR IMMEDIATE RELEASE2013-88 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today announced that Lona Nallengara has been named the agency’s chief of staff. Mr. Nallengara came to the SEC in March 2011 and served as deputy director for legal and regulatory policy in the Division of Corporation Finance until he was appointed in Decemb […]
- SEC Charges China-Based Executives in Scheme to Overstate Revenues and Divert Money for Personal Use May 15, 2013FOR IMMEDIATE RELEASE2013-87 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today charged husband-and-wife executives at a China-based company with engaging in a scheme to overstate the company’s revenues and divert proceeds from a securities offering for their personal use. Additional Materials SEC Complaint The SEC alleges that RIN […]
- SEC, FINRA Issue Investor Alert On Pension or Settlement Income Streams May 9, 2013FOR IMMEDIATE RELEASE2013-86 Washington, D.C., May 9, 2013 — The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today issued an investor alert entitled Pension or Settlement Income Streams – What You Need to Know Before Buying or Selling Them. The investor alert informs investors about the risks involved when selli […]
TAG | The community development trust
“Non-traded REITs”are public companies, but their shares are not listed on any stock exchange. This makes non-traded REITs a very opaque and a private market (not to mention illiquid). Unlike publicly traded REITs, non-traded REITs are illiquid and specify when investors can redeem shares, typically after seven years. At that point, the REIT may go public and begin trading on an exchange — or it may be liquidated.
Unfortunately, many conservative or elderly clients were sold non-traded REITs. Occasionally, the true risks of these investments allegedly were not disclosed to the clients. Many retirees who couldn’t afford to take the risks associated with non-traded REITs had a substantial percentage of their net worth in these investments. In some instances, they may have been unsuitable investments. Fortunately, some, or all, of the frozen funds or investment losses in non-traded REITs may be recoverable against the brokerage firms who sold them through FINRA arbitration claims and lawsuits.
The following are examples of non-traded REITs sold to investors by brokers and full service brokerage firms are as follows:
Behringer Harvard REIT I, Inc.
Behringer Harvard Multifamily REIT I, Inc.
Behringer Harvard Opportunity REIT I, Inc.
Behringer Harvard Opportunity REIT II, Inc.
CNL Lifestyle Properties, Inc.
Cole Credit Property Trust, Inc.
Cole Credit Property Trust II, Inc.
Cole Credit Property Trust III, Inc.
Grubb & Ellis Apartment REIT, Inc.
Healthcare Trust of America, Inc.
Inland American Real Estate Trust, Inc.
Inland Western Retail Real Estate Trust, Inc.
KBS Real Estate Investment Trust I, Inc.
KBS Real Estate Investment Trust II, Inc.
Piedmont Office Realty Trust, Inc.
Wells Real Estate Investment Trust II
Blackstone Real Estate Advisors
INREIT Real Estate Investment Trust
The Community Development Trust
Soreide Law Group, PLLC, believes that many of the non-traded REITs are far riskier than people knew and were not appropriate for some investors, particularly the elderly, retired or the conservative investors. If you feel these risks were not disclosed by your broker or the brokerage firms who sold them to you, call a Securities Arbitration Lawyer for a free consultation on how to potentially recover your investment losses. To speak with an attorney, call 888-760-6552, or visit www.stockmarketlawsuit.com. Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
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