| e9ukzruzxi | Date: Joi, 2014-01-23, 0:47 AM | Message # 1 |
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| Wells Suspends Sales Of NonTraded REITs
Leo Wells, head of Wells Property Funds, the key player on the nontraded REIT industry, announced in January 2013 which they will not be selling any new nontraded REIT products with the moment. Apparently his decision was inspired by FINRA Notice to Members 0909 which establishes rules in connection with establishing values of these investments that don't trade at a national exchange and addresses requirements based on the expected dividend distributions of the products.
With the $11 billion raised by Wells serious estate projects since 1984, most has become raised through nontraded REITs. Before decade regulators are generally taking a critical look at the product's <a href=http://palsport.com/include/default.php?q=165>ニューバランス 574 ネイビー</a> fees (that happen to be high as opposed to conventional investments) , valuation methods and the way the exact value appears on client statements. Ahead of NTM 0909, many companies carried the significance along at the original purchase price. Because the investments may not be traded in a national exchange there is not any traditional solution to determine fair monatary amount.
Wells Timberland Reit premiered in the year 2006 priced $10 per share. The promised cash distributions are not made and a lot of company redemption plans are cancelled. As you move company has provided an estimated property value $6.65 per share, private secondary market makers, a common place they are generally sold, is paying only 6070% of one's estimated value.
An advanced retiree attempting continue to exist on the distributions you expected for getting from your <a href=http://palsport.com/include/default.php?q=160>http://palsport.com/include/default.php?q=160</a> nontraded REIT, you're already painfully aware."Estimated value will never equal fair market value". See Retirees Hurt.
I actually have written much more about the secondary market for non traded REITs and Wells' difficulty FINRA over misleading ads applied to hitting the ground with the sale of Timberland REIT here.
Other businesses like Inland, Cornerstone, KBS, Behringer Harvard, Retail Properties of the usa, Hines, Dividend Capital and CNL, have suffered similar complications of values, ceased distributions and illiquidity.
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Disclosure: I had no positions in a different stocks mentioned, with out provides initiate any positions in the next 3 days.
Themes: Wells REIT, Cornerstone REIT, KBS REIT, Behringer Harvard, Retail Properties of the usa, Hines <a href=http://palsport.com/include/default.php?q=175>http://palsport.com/include/default.php?q=175</a> REIT, Dividend Capital REIT, CNL REIT, recover REIT loss, sue broker for REIT loss
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