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Corporate & Securities Law
: FinancialCounselSNSFE Investigates Unlisted REITs In View Of Unsuitability And Misrepresentation Concerns
By James Eccleston
SNSFE attorneys continue to investigate nontraded REITs.
Regulators are examining brokers who sold unlisted REITs which have raised $59 billion since 2000. Attorneys are seeing a large concentration of elderly clients' portfolios jammed into nontraded REITs. These REITs include Inland Western Retail Real Estate Trust, which promised steady dividends and a stock price that wouldn't fluctuate with the market. However, last year, that fund slashed its payout by 70%. Other non-traded REITs include Behringer Harvard REIT I, Cole Credit Property Trust II, Hines Real Estate Investment Trust, and Wells Real Estate Investment Trust II.
Those with information regarding those or other nontraded REITs should contact attorneys at SNSFE.
Source: Bloomberg.com
Full post as published by FinancialCounsel on June 03, 2010 (boomark / email).
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