If you are interested in a free and confidential case review, contact us at (800) 277-1193. However, brokers and financial advisors who improperly recommended HIT or other similar products may be legally responsible for the losses suffered by their clients. Investment Losses? The REIT stopped all distributions in 2017. To contact us for a free confidential consult, you can call us at (800) 277-1193. The maximum amount of payments made per CVR will not exceed. A broker or financial advisor who recommends unsuitable investments, or who does not take these factors into consideration, may bear some liability for losses. You also can request a free private and confidential evaluation by clicking Free & Confidential Consult. Hospitality Investors Trust is a publicly-registered, non-traded REIT, formerly called American Realty Capital Hospitality Trust (ARC Hospitality Trust). For more information on the firm, visit www.WhiteSecuritiesLaw.com. Thus, the securities law firm of Peiffer Wolf has begun another investigation into any and all brokers and advisors who recommended HIT REIT to investors. Hospitality Investors Trust, Inc. (HIT REIT) is non-traded real estate investment trust (REIT). The White Law Group continues to investigate potential securities claims involving broker dealers who recommended Hospitality Investors Trust (HIT REIT) to investors. When a broker fails to fulfill these obligations, the firm that employs them may be held accountable for losses suffered by an investor to whom an unsuitable investment recommendation was made. This may be years after you have made your investment. Kahane is a director at Business Development Corporation of America, American Reality New York Recovery REIT, Inc., and several other American Reality companies. Hospitality Investors Trust Inc. Fraud and/or Investment Loss - Wolper Our securities attorneys are investigating Hospitality Investors Trust (HIT REIT) for potential legal claims on behalf of shareholders. On May 19, 2021, Hospitality Investors Trust, Inc. ("HIT") and its operating partnership, Hospitality Investors Trust Operating Partnership, L.P. (the "OP" and, together with HIT, the "Debtors," and, together with their subsidiaries, the "Company"), entered into a restructuring support agreement (the "RSA") with Brookfield Strategic Real Estate 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. To learn more about the firms investigation, please see: Hospitality Investors Trust Decreases NAV close to 40%. In December, Hospitality Investors Trust turned the cash payment to payment-in-kind to preserve liquidity. Hospitality Investors Trust Bankruptcy: Investors May Have Options Healthcare Trust Inc. REIT Lawsuits - Compensation & Help Gibbs Law Group attorneys have fought some of the most complex cases brought under federal and state laws nationwide, and have been recognized with numerous awards and honors for their accomplishments, includingTop 100 Super Lawyers in Northern California,Top Plaintiff Lawyers in California,The Best Lawyers in America, and ratedAV Preeminent(among the highest class of attorneys for professional ethics and legal skills). Even when a sale does transpire, the high fees commissions often diminish the investors total return. 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. Healthcare Trust REIT Lawsuit Investigation AR Global's Healthcare Trust REIT decreases NAV per share; Investors lose thousands Our firm is investigating AR Global's Healthcare Trust, Inc. on behalf of REIT investors. Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Hospitality Investors Trust is a publicly registered, non-traded real estate investment trust whose initial offering became effective in 2014 and which declared bankruptcy in 2021. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors. Investigating Potential Lawsuits involving Healthcare Trust Inc. Hospitality Investors Trust Commences Bankruptcy Case HIT was sold for $25 per share originally. Distributions can be paid from any source, including unlimited amounts from offering proceeds and borrowings. In most litigation matters, it is extremely difficult practically impossible to predict how long it will take to resolve a particular case. the Company and its operating partnership, Hospitality Investors Trust Operating Partnership, L.P., a Delaware limited partnership (the "OP"), entered into a Restructuring Support Agreement (as may be subsequently amended or modified from time to time, the "RSA") with the Supporting Stockholder; WHEREAS, on May 19, 2021 Silver Law Group is a team of securities lawyers, forensic accountants, and support staff who are dedicated to helping investors recover losses through securities arbitration and litigation. More than 12 hospitality venues have shut each day in Britain over the past year as they struggle with higher costs such as soaring energy prices, according to figures. The Company operates as a public, non-traded real estate investment trust ("REIT"), meaning that it is: "public" because it is registered with the There were numerous conflicts of interest within the trust. Jock Zonfrillo found dead after flying back from family holiday in Hospitality Investors Trust is a publicly-registered, non-traded REIT, formerly called American Realty Capital Hospitality Trust (ARC Hospitality Trust). As of December 31, 2019, it was listed at $8.35 per share, a 9.3% decrease from the 2018 NAV. HIT REIT has yet to declare a Net Asset Value (NAV) for 2020. Usually that is not the case when dealing with legal matters but you guys (gals) rock., Ive always found them to be extraordinary counsel in terms of their preparation and their professionalism.. Brokers and financial advisors are often drawn to recommending REITs because of the high commissions associated with the transaction. Written by The White Law Group December 12, 2021 For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510. As a result, for a significant time period you may be unable to assess the value of your non-traded REIT investment and its volatility.. More than 12 pubs, restaurants or bars shut EVERY DAY last year 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. Hospitality Investors Trust no longer has sufficient cash fund its obligations and Brookfield is the only likely provider of additional liquidity, according to its 2020 annual report. Shares were originally sold to most investors at $25 a share. Further, some brokers allegedly sold the HIT REIT to retirees or elderly clients close to retirement. 2015 by The White Law Group, LLC All rights reserved. REIT Investors have won several securities litigations involving financial institutions with the intention of recovering from their securities losses. Our lawyers provide free confidential case evaluations, and we never charge any fees or costs unless you first recover. According to Law360, the Hospitality Investors Trust received court approval for its Chapter 11 bankruptcy restructuring plans. Prior to the bankruptcy,HIT REITs estimated net asset valuehadcontinued to decline, andwas $8.35, as of December 31, 2019. Hospitality Investors Trust Begins Bankruptcy Proceedings - The DI Wire The REIT explained in the filings that due to the impact of the coronavirus global pandemic on its business, the company expects it will no longer have sufficient cash on hand to continue to pay its current obligations during the first half of 2021. Stock Loss Recovery Lawyer. Our firms investigation has revealed that some brokers and financial advisors allegedly sold the HIT REIT as a conservative, safe, asset backed, or moderate risk investment. On May 19, 2021, the New York-based Hospitality Investors Trust filed for Chapter 11 bankruptcy to attempt to restructure its $1.3 billion debt. Hospitality Investors Trust Inc is currently in bankruptcy and trying to restructure its debt. They must ensure that all recommendations are suitable for the investor. Broker dealers are required to inform clients of the risks associated with investment recommendations and to ensure that those recommendations are suitable for the investor in light of the investors age, risk tolerance, net worth, and investment experience. A REIT is a real estate investment trust, that is, a group that owns income-producing real estate. HIT REIT is another stark reminder of how disastrous non-traded REITs can be for investors. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We are a nationwide litigation law firm that represents individuals and entities who have been the victims of negligence, fraud or the misconduct of powerful interests. Hospitality Investors Trust Inc. (HIT REIT) Files Chapter 11 Bankruptcy Recovery of Hospitality Investors Trust Inc. (HIT REIT) Losses. Selina Hospitality PLC Reports Fiscal 2022 Financial Results Questions about our fee agreements are welcomed and encouraged. Investment Losses? 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. PDF ARC Lawsuit - The DI Wire On May 19, 2021, Hospitality Investors Trust Inc., a non-traded REIT that owns a portfolio of hotel properties, filed for Chapter 11 bankruptcy in Delaware to restructure its $1.3 billion unsecured debt. If you invested in HIT REIT, Contact Peiffer Wolf for a FREE CONSULTATION by calling 585-310-5140 of by filling out a Contact Form on this website. If distributions are declared and paid, the amount of the distributions paid may decrease or distributions may be eliminated at any time. On May 19, 2021, Hospitality Investors Trust Inc., a non-traded REIT that owns a portfolio of hotel properties, filed for Chapter 11 bankruptcy in Delaware to restructure its $1.3 billion unsecured debt. Read more about our results. In addition, our investigation has revealed that some advisors who sold HIT REIT to their clients also sold other questionable or potentially unsuitable products to their clients. Ashford Hospitality Trust : Files Lawsuit Against Cygnus Capital To REITs collect money from investors, then use it to buy properties such as hotels, shopping centers, apartment buildings, or office buildings. NorthStar Healthcare REIT Lawsuit | REIT Losses | Peiffer Wolf
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