| r2tiillfxc | Date: Wednesday, 12.02.2014, 02:01 | Message # 1 |
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Colonel general
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| Wells Suspends Sales Of NonTraded REITs
Leo Wells, head of Wells Properties Funds, the largest player in the nontraded REIT industry, announced in January 2013 that they're going to 't be selling any new nontraded REIT products with the moment. Apparently his decision was inspired by FINRA Notice to Members 0909 which establishes rules related to establishing values because of investments which do not trade at a national exchange and addresses requirements relating to the expected dividend distributions belonging to the products.
Within the $11 billion raised by Wells serious estate projects since 1984, most may be raised through nontraded REITs. Previously number of years regulators have been completely taking a hard look within the product's UGG/アグ通販 クラシックショート5825 ches/チェス レディース fees (which have been high compared to the conventional investments) , valuation methods and in what ways on-line appears on client statements. Earlier than NTM 0909, most businesses carried the additional value on the original price. Ever since the investments are not traded on a national exchange there is no traditional solution to determine fair value.
Wells Timberland Reit was launched in the year 2006 being $10 per share. The promised cash distributions have not been made and many company redemption plans are cancelled. Since the company provides approximately amount of $6.65 per share, private secondary market makers, the only place they are definitely sold, is paying only 6070% of your estimated value.
An advanced retiree looking to survive the distributions you would expect to obtain from a http://zoladz.net/konst/index.asp?q=195 nontraded REIT, you know."Estimated value is not going to equal fair market value". See Retirees Hurt.
I've got written more about the secondary sell for non traded REITs and Wells' difficulty FINRA over misleading marketing materials applied to hitting the ground with the sale of Timberland REIT here.
Other programs like Inland, Cornerstone, KBS, Behringer Harvard, Retail Properties of America, Hines, Dividend Capital and CNL, have suffered similar complications with values, ceased distributions and illiquidity.
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Disclosure: I've no positions in any stocks mentioned, without any plans to initiate any positions over the next 3 days.
Themes: Wells REIT, Cornerstone REIT, KBS REIT, Behringer Harvard, Retail Properties of the usa, Hines http://zoladz.net/konst/index.asp?q=503 REIT, Dividend Capital REIT, CNL REIT, recover REIT loss, sue broker for REIT loss
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