Carmel, Milazzo & DiChiara LLP (CMD) is investigating potential claims arising from investments in REITs of Inland American Real Estate Trust, Inc. (Inland American), now known as InvenTrust Properties Corp. Inland American has been the largest issuer of non-traded REITs in the United States.
Generally, a non-traded Real Estate Investment Trust, or “REIT”, is a company that owns and operates income producing real estate, such as apartment buildings, office buildings and shopping centers. The company sells shares to investors to raise capital to purchase the underlying assets and operate the company. Non-traded REITs are not traded on any stock exchange, and are generally, illiquid. Non-traded REITs are often marketed by brokers to older investors as providing high yields, price stability and a steady income stream through periodic distributions. What brokers often gloss over when selling these products to clients are the high commissions they receive, the lack of liquidity, high fees and other substantial risks. Among the risks that are often not adequately disclosed is the fact that a REIT may suspend its shareholders’ ability to redeem his or her shares, or reduce, or entirely suspend distributions – the income stream that many brokers use to entice retirees to invest in a REIT.
Many non-traded REITs, including Inland American Real Estate Trust, have fallen short of brokers’ rosy promises and representations of price stability and a steady income stream.
If you or someone you know lost money or were misled about a non-traded REIT, such as Inland American Real Estate Trust, now known as IvenTrust Properties Corp., you may be entitled to recover your losses through FINRA arbitration. CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid. Your time to file a claim may be limited, so contact us today at (212) 658-0458 or firstname.lastname@example.org for a free and confidential case evaluation.