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.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
Peter Po's most recent settlement came on June 28, 2026, when a corporate bond claim settled for $40,000. Po (CRD 3106974) appears in several settled customer disputes over corporate and high-yield bonds. The disclosures name NI Advisors or California Securities as the firm, and each matter ended in a settlement, not a finding.
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