It owns a portfolio of a hundred properties across 29 states in the US. In December, Hospitality Investors Trust turned the cash payment to payment-in-kind to preserve liquidity. Hospitality Investors Trust, Inc. (HIT REIT) is non-traded real estate investment trust (REIT). Certifications and Licenses: CFP, Cambridge, CEA, CPA-20, CPA-10, PQO, FBB-100 and CA-300. As of December 31, 2019, it was listed at $8.35 per share, a 9.3% decrease from the 2018 NAV. The REIT has reportedly decreased nearly 45% since its initial issuance. The White Law Group continues to Hospitality Investors Trust, Inc. (HIT REIT) 2021 Lawsuit *UPDATED* Did your broker recommend an investment in Hospitality Investors Trust Blog, Current Investigations, Securities Fraud. Many of our clients have lost a significant portion of their net worth as the result of the negligence of their financial professional. REITs collect money from investors, then use it to buy properties such as hotels, shopping centers, apartment buildings, or office buildings. Shares of the Healthcare Trust REIT were originally priced at $25 per share. Did your Advisor Recommend a Hospitality REIT? The trust doesnt have enough cash to fund its duties, and Brookfield, its largest investor, might be its only source of additional liquidity, the publication reported. Even worse, HIT REIT is now in bankruptcy. Central Trade & Transfer announced a selling price of 46 cents per HIT share in March 2021. Shares were originally sold for $25.00 each. Thus, the securities law firm of Peiffer Wolf has begun another investigation into any and all brokers and advisors who recommended NorthStar Healthcare REIT to investors. Contact us now for a free consultation! The REIT stopped all distributions in 2017. Distributions can be paid from any source, including unlimited amounts from offering proceeds and borrowings. Hospitality Investors Trust Inc (HIT REIT), formerly known as American Realty Capital Hospitality Trust (ARCHT), is a registered non-traded real estate investment trust. Holders of HIT REIT contingent value rights (CVRs) should reach out to the CVR agent Computershare Trust Company, N.A. As result, there have multiple lawsuits from Hospitality Investors. There were numerous conflicts of interest within the trust. Shareholders of the common stock will receive one CVR in exchange for each share of common stock. HIT REIT Shares were originally sold for $25.00 per share. If you invested in HIT REIT, Contact Peiffer Wolf for aFREE CONSULTATIONby calling585-310-5140of by filling out aContact Formon this website. Investment Losses? Hospitality Investors Trust Inc. Losses Investors may have claims. The lawsuit also alleges: negligence, breach of fiduciary duty, and negligent supervision. A real estate investment trust (REIT) is a company that has income-producing real property. In January of 2017, the company suspended its distributions and announced that it did not expect to pay distributions for the rest of the year. Brokers and financial advisors have a duty to the people they serve to make only suitable investment recommendations. A broker also has an ethical obligation to consider an investors risk tolerance, age, investment experience, and net worth when determining whether a certain investment is suitable for the client. If you invested in Hospitality Investors Trust REIT, Contact Peiffer Wolf for a FREE CONSULTATION by calling 585-310-5140 of by filling out a Contact Form on this website. Get a free and confidential consultation. Brookfield has also reportedly agreed to provide a $65 million debtor-in-possession term loan to fund the REITs current obligations, including up to $10 million to fund interest payments and other approved expenses for the property-level mortgage loans, pending the Chapter 11 cases.
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