Soreide Law Group has been contacted by investors who have purchased Real Estate Investment Trusts (REIT) and sustained losses through the recommendation of their broker/dealers or financial advisors. Many of these investors were recommended purchasing these REITs by their LPL Financial brokers. Due to the COVID-19, the Real Estate Indexes have dropped dramatically, between 10-40%. LPL Financial has restricted the purchase of eleven REITs due to this unstable market.
Publicly Traded REITs
Bluerock Total Income + Real Estate Fund
Griffin Institutional Access Real Estate Fund
Resource Real Estate Diversified Income Fund
Non-Traded REITs
Black Creek Industrial REIT
Blackstone REIT
CIM Income NAV REIT
DWS RREEF Property Trust
Hines Global Income Trust
Jones Lang Lasalle Income Property Trust
Nuveen Global Cities REIT
Starwood REIT
Broker/dealers have an obligation to their clients to make suitable recommendations according to the level of risk for the client. There are risks involved with purchasing REITs, especially with a non-exchange traded REIT and should have been made clear to the investor by the broker/dealer at the time of purchase.
A non-traded REIT does not trade on a stock exchange, and is an illiquid investment. They usually cannot be sold quickly on the open market. Non-traded REITs typically do not provide an estimate of their value per share until 18 months after their offering closes. There may be a significant time period that you are unable to assess the value of your non-traded REIT investment and its volatility. Investors may be attracted to non-traded REITs by their relatively high dividend yields compared to those of publicly traded REIT.
If you have experienced REIT losses through the recommendations of your broker at LPL Financial or any other firm, contact Soreide Law Group and speak to an experienced securities lawyer at no cost to you regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA. We work on a contingency fee basis—no fee to you if no recovery.
Soreide Law Group is investigating potential investor claims involving Cove Capital 1031 Delaware Statutory Trust (DST) investments and whether brokers improperly recommended these specific tax-deferred real estate offerings. Cove Capital 1031 DSTs are structured investments that allow investors to reinvest proceeds from the sale of real estate into fractional interests in institutional-grade properties while deferring […]
Investors might have sustained losses due to securities broker Marc Charles Koch [CRD: 4978078, New York, New York], given the publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Koch worked for Morgan Stanley from March 30, 2023, to the present, First Republic Investment Management Inc. from November 7, 2022, to April 25, […]
Investors potentially incurred losses because of securities broker Stephen Charles Newell Hlibok (also known as Stephen Hlibok and Steve Hlibok) [CRD: 1728900, Columbia, Maryland], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Hlibok worked for Merrill Lynch Pierce Fenner Smith Incorporated from September 25, 1987, to the present as a broker, and from […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com