Soreide Law Group has come across new information in regard to NorthStar Healthcare Income REIT. Notably, investors may have experienced considerable losses by investing in NorthStar. Here’s some information regarding the REIT, and what you could do if you invested in real estate investment trusts because of your financial advisor or securities broker.
Evidently, NorthStar HealthCare REIT is a non-traded real estate investment trust. Its initial public offering occurred in February 2015. The company has a $3.3 billion dollar portfolio of 592 properties. Evidently, NorthStar's purpose is to buy and manage a diversified portfolio in the healthcare real estate sector. NorthStar Healthcare focuses on senior housing, including skilled nursing facilities, memory care, assisted living and independent living. It appears that NorthStar Healthcare Income also invests in medical office buildings, hospitals, and other healthcare properties. Currently, NorthStar Healthcare’s Chairman is Richard S. Welch. He is the Managing Director of Colony Capital, who sponsors NorthStar. The company’s Chief Executive Officer and President is Ronald J. Jeanneault.
Publicly available information suggests that some NorthStar investors received tender notice from a company called Comrit Investments. It appears that the shares are worth far less on the secondary market. And in February of 2019, NorthStar suspended distributions to investors.
It is not uncommon for securities brokers and financial advisors to sell up real estate investment trusts as investments that can generate high income. However, these investments can be very speculative and contain high risks. The risks become even greater for those investors who purchase non-traded REITs. Notably, non-traded REITs are generally not easily sold or redeemed. Also, sometimes issuers suspend distributions, leaving investors hanging. Evidently, this happened in 2019 with NorthStar. Because of this, it is possible for certain financial advisors to have made unsuitable or misrepresented recommendations regarding NorthStar, causing investors’ losses.
Have you experienced losses by investing in NorthStar Healthcare Income Fund because of your financial advisor or securities broker? If so, contact Soreide Law Group at (888) 760-6552 and speak with an experienced securities lawyer concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for investors who have been wronged by securities brokers and financial advisors.
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