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Non-Listed REITs Under Fire

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Non-Listed REITs Under Fire

The New York-based investment fraud firm of Napoli Bern Ripka, LLP is investigating claims related to improper placement of investors into non-listed Real Estate Investment Trusts (REITs). The firm, along with regulators and dissatisfied investors alike, is interested in whether these have been misrepresented as low-cost and low-risk investments.

One particular REIT of note, which is currently under investigation by the Financial Industry Regulatory Authority (FINRA), the nation's largest independent regulator of securities firms, is the Apple REIT sold by David Lerner Associates, Inc. In addition to Apple REIT Six, Apple REIT Seven, Apple REIT Eight and Apple REIT Nine, Napoli Bern Ripka is looking into the following REITs:

  • American Realty Capital Trust
  • AmREIT
  • Behringer Harvard Multi-Family REIT I
  • Behringer Harvard Opportunity REIT I
  • Behringer Harvard REIT 1
  • CB Richard Ellis Realty Trust
  • CNL Lifestyle Properties
  • Cole Credit Property Trust
  • Cole Credit Property Trust II
  • Cole Credit Property Trust III
  • Concord Milestone Plus LP
  • Cornerstone Core Properties REIT
  • Cornerstone Healthcare Plus REIT
  • Desert Capital
  • Dividend Capital Total Realty Trust
  • GC Net Lease REIT
  • Grubb & Ellis Apartment REIT
  • Grubb & Ellis Healthcare REIT II
  • Healthcare Trust of America
  • Hines Global REIT
  • Hines REIT
  • IMH Secured Loan Fund LLC
  • Inland American
  • Inland Diversified
  • Inland Western
  • KBS REIT I
  • KBS REIT II
  • Lightstone Value Plus REIT
  • Paladin REIT
  • Piedmont REIT
  • Prime Group Realty Trust
  • Shopoff Properties Trust
  • Strategic Storage Trust
  • TNP Strategic Retail Trust
  • W.P. Carey CPA 14
  • W.P. Carey CPA 15
  • Wells REIT II
  • Wells Timberland REIT
  • Whitestone REIT

Click here for the full article.

Headquartered in the Empire State Building and with offices in Miami, Los Angeles, Long Island, New Jersey and Pennsylvania, Napoli Bern Ripka Shkolnik, LLP represents investors in FINRA arbitration and litigation related to all forms of securities fraud. For more information, contact Senior Litigation Counsel of the Securities Arbitration Department, Adam J. Gana, at 888.870.2757.

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