February 20, 2018 Comments (0) Blog, Current Investigations

KBS Legacy Partners Apartment REIT Inc. -Tender Offer

KBS Legacy Partners Apartment REIT
(Last Updated On: February 20, 2018)

Liquidity Partners Trust I – Extends Tender offer – KBS Legacy Partners Apartment REIT

Are you concerned about your investment in KBS Legacy Partner Apartment REIT? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA arbitration claim against the brokerage firm that sold you the investment.

KBS Legacy Partners Apartment REIT is a publicly-registered non-traded REIT. The REIT was formed in July 2009 and commenced its initial public offering in March 2010 and is now in the process of completing the liquidation of its four remaining real estate properties.

KBS Legacy Partners Apartment REIT recently approved an unaudited and estimated net asset value per share of $4.40 for the Company’s common stock, effective December 21, 2017. The original offering price was $10.00/share.

On December 19, 2017, the Company’s board of directors approved the termination of the Company’s share redemption program, but effectively stopped redeeming shares in August 2017.

According to a press announcement on January 12, Liquidity Partners Trust I, a private real estate investment firm, is offering to pay nearly $1.2 million for up to 375,000 shares of KBS Legacy Partners Apartment REIT, Inc. common stock for $3.08 per share.

Complex & Risky – Non-traded REITs

The trouble with non-traded REITs, like KBS Legacy Partners Apartment REIT, is that they are complex and inherently risky products.

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 investor’s age, risk tolerance, net worth, and investment experience. Firms that fail to do so may be held responsible for any losses.

Lack of liquidity is often problematic for many investors.  Investors looking to sell often have difficulty finding a buyer, and can suffer significant losses on the sale.

Recovery of Investment Losses

The White Law Group continues to investigate potential claims involving broker dealers who may have unsuitably recommended KBS Legacy Partners Apartment REIT. If you invested in KBS Legacy Partners Apartment REIT at the recommendation of your financial advisor and would like to discuss your litigation options with a securities attorney, please call The White Law Group at 1-888-637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group and its investigations, visit www.whitesecuritieslaw.com.

 

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