For example, the Trust charged 10% of the investment for selling commissions and dealer manager fee. Were investigating whether brokers or financial advisors recommended this REIT to their clients, even if it was not suitable for them. Central Trade & Transfer announced a selling price of 46 cents per HIT share in March 2021. Carlson Law represents investors involved in claims against financial advisors and investment firms throughout the United States. Their investor toll-free number is 1-800-856-3352. The company claims the decrease in value was due to the sales of 20 hotels that were included in the previous NAV calculation, lower estimated sale prices for properties under contract to be sold as compared to their corresponding estimated value included in the previous NAV calculation. Investors looking to sell these investments often have difficulty finding a buyer, and if they are able to find one can suffer significant losses on the sale. According to Law360, the Hospitality Investors Trust received court approval for its Chapter 11 bankruptcy restructuring plans. Previously in January of 2017, the company had suspended distributions indefinitely, significantly harming investors. These professionals are ethically bound to tell their clients about the risks associated with recommended investments. Hospitality Investors Trust Inc., which has stakes in 100 U.S. hotels, filed for bankruptcy protection with a prearranged plan that would hand the company over to Brookfield Asset Management Inc . For more information on The White Law Group, visit. In this case, the company attributed the decline to declining occupancy rates in the hospitality industry, higher labor and other costs, and increased hotel supply in certain markets which has further driven down the companys occupancy and rate estimates., Hospitality Investors Trusts NAV declined again in 2019. The Securities and Business Litigation team at Levin, Papantonio, Rafferty, Proctor, Buchanan, OBrien, Barr & Mougey, P.A. For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510. All Rights Reserved. According to the US Securities and Exchange Commission, [b]ecause they do not trade on a stock exchange, non-traded REITs involve special risks. Firms that fail to do so, may be held responsible for any losses. One reason many brokers may have sold HIT REIT to their clients is because of the significant commissions paid to them as HIT charged high upfront fees and commissions. Get free professional market insights and stock/ETF reports that contain actionable opportunities written by a former financial advisor and Capitalist who has been investing in the markets for 20+ years. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. The contingency fee amount is determined by the type of case, our estimate of how long it will take to resolve your case, and our estimate of the litigation costs we will advance in your case.
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