Inland Western Retail Real Estate Trust, Inc. announced that it has changed its name to Retail Properties of America, Inc., effective immediately. According to the company’s press release announcing the name change, the Retail Properties of America is one of the country’s largest owners and operators of shopping centers with a retail operating portfolio of 259 properties with approximately 34,649,000 square feet of gross leasable space across 35 states, and the “new name more accurately reflects the geographic reach of the Company’s portfolio.“
The move may also be an effort by Retail Properties of America to distance itself from the name Inland Western. The name Inland Western is often associated with many of the worst performing non-traded REITs out there, REITs like Wells REIT, Behringer Harvard, Apple REIT, KBS REIT, and Desert Capital REIT.
Each of these other REITs has experienced difficult times over the last few years, including actions like dividend cuts, cancelation of redemption programs, share price drops, and even bankruptcy.
The White Law Group continues to pursue claims on behalf of investors in non-traded REITs against the brokerage firms and financial professionals that recommended these investments.
REITs typically pay a high commission – often as much as 10-15% (which often explains the stockbroker’s motivation in recommending the REIT investment to the investor).
Due to the relatively high interest or dividend offered by non-traded REITs, retired investors are often attracted to these products. Unfortunately, in addition to be risky investments, non-traded REITs are also illiquid (limiting investors ability to access their own money for unforeseen expenses).
To determine whether you may be able to recover investment losses incurred as a result of your purchase of a risky REIT investment, please contact The White Law Group at 312-238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.