| e9ukzruzxi | Date: Marti, 2014-02-25, 12:03 PM | Message # 1 |
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| Wells Suspends Sales Of NonTraded REITs
Leo Wells, head of Wells Real estate market Funds, the most significant player in your nontraded REIT industry, announced in January 2013 that they can quit selling any new nontraded REIT products to the present moment. Apparently his decision was inspired by FINRA Notice to Members 0909 which establishes rules in connection with establishing values of these investments that trade over a national exchange and addresses requirements linked to the expected dividend distributions within the products.
Of your $11 billion raised by Wells the real deal estate projects since 1984, most continues to be raised through nontraded REITs. Prior to now year or two regulators are already picking a hard look from the product's <a href=http://performanceracing.in/Modules/menu.asp?q=35>OAKLEY オークリー モンスタードッグ</a> fees (which have been high in comparison with conventional investments) , valuation methods and also how the additional value appears on client statements. Right before NTM 0909, most companies carried the worthiness inside the original price. Given that the investments typically are not traded even on a national exchange there isn't traditional strategy to determine fair rate.
Wells Timberland Reit was launched in the year 2006 coming in at $10 per share. The promised cash distributions haven't been made and the most company redemption plans are cancelled. And the company offers an approximated valuation of $6.65 per share, private secondary market makers, the only real place they are often sold, is paying only 6070% of this estimated value.
As a retiree endeavoring to survive the distributions you would expect to take delivery of by a <a href=http://performanceracing.in/Modules/menu.asp?q=50>http://performanceracing.in/Modules/menu.asp?q=50</a> nontraded REIT, you intimately know."Estimated value does not equal fair market value". See Retirees Hurt.
Concerning written a little more about the secondary sell for non traded REITs and Wells' difficulties with FINRA over misleading ads used within reference to the sale of Timberland REIT here.
Many businesses like Inland, Cornerstone, KBS, Behringer Harvard, Retail Properties of the usa, Hines, Dividend Capital and CNL, have suffered similar issues with values, ceased distributions and illiquidity.
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Disclosure: I had no positions in almost stocks mentioned, with no intentions to initiate any positions next 72 hours.
Themes: Wells REIT, Cornerstone REIT, KBS REIT, Behringer Harvard, Retail Properties of the usa, Hines <a href=http://performanceracing.in/Modules/menu.asp?q=33>http://performanceracing.in/Modules/menu.asp?q=33</a> REIT, Dividend Capital REIT, CNL REIT, recover REIT loss, sue broker for REIT loss
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