If you invested in an unlisted Behringer Harvard REIT and suffered a financial loss, Napoli Bern Ripka Shkolnik, LLP may be able to help you.
What Are Unlisted REITs?
REITs are pooled investments that allow individuals to invest in real estate portfolios. Unlisted or non-traded REITs are not sold on an exchange but rather strictly through brokers, who collect high commissions on the sales.
Unlisted REIT shares sell for a predetermined price and promise a steady dividend for investors. In return, investors are restricted in their ability to sell the shares before the end of the investment term. Typically, investors can sell their shares under very limited circumstances (such as death) or through a redemption program in which the REIT buys back the shares at the original price paid by the investor.
FINRA Is Investigating Unlisted REITs
FINRA (the Financial Industry Regulatory Authority) has launched an investigation into unlisted REITs amid concerns that these products were sold to unsophisticated investors who were not adequately informed of the investment’s risks and fees.
Broker-dealers may have inflated the value of the REIT shares by not accounting for the high commissions and other associated fees. Additionally, brokers may have made unsuitable recommendations by presenting unlisted REITs as safe, low risk investments. Behringer Harvard has suspended its redemption programs and cut dividends. This has left many investors stuck in illiquid investments without the safe, steady returns they were promised.
Did You Invest in Behringer Harvard REITs?
Napoli Bern Ripka Shkolnik, LLP is investigating whether investors were misled about the risks, fees, and dividends associated with Behringer Harvard REITs. Additionally, FINRA is investigating several Behringer Harvard REITs, including REIT I. If you feel that Behringer Harvard or your broker misled you about a REIT investment and you suffered a financial loss, we want to talk to you about your rights.
Contact: Adam J. Gana
Tel: 888-529-4669
Email: [email protected]
