Based on a March 2012 letter sent out to Cornerstone Healthcare REIT investors, it appears that Cornerstone Healthcare REIT has changed its name to Sentio Healthcare Properties, Inc. Several non-traded REITs, like Cornerstone, have attempted name changes recently as they attempt to distance themselves from the negative news associated with the old name.
The White Law Group has been investigating the sale of the REITs and Funds under the umbrella of Cornerstone Ventures Inc.’s Cornerstone Real Estate Funds for well over a year.
The Healthcare REIT (or Sention Healthcare Properties) is one of the Cornerstone REITs that appears most troubled. It appears that the value of the REIT may have declined substantially.
The White Law Group’s investigation of Cornerstone REITs and specifically the Healthcare REIT is focused on the liability that brokerage firm’s have for selling these investments. Brokerage firms have a fiduciary duty to perform due diligence on any investment and to insure that an investment is appropriate in light of the investor’s age, investment experience, and investment objectives. Based on what is known about Cornerstone Healthcare REIT, it does not appear that brokerage firms will be able to demonstrate that they performed the necessary due diligence on this offering.
If you are concerned about your investment in the Cornerstone Healthcare Plus REIT (now known as Sentio Healthcare Properties, Inc. ), or another Cornerstone Real Estate Funds product and would like to speak to a REIT fraud attorney, please call The White Law Group’s Chicago office 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, please visit our website at http://www.whitesecuritieslaw.com.