August 14, 2018 Comments (0) Blog, Current Investigations

Strategic Storage Growth Trust Suspends SRP and DRP

Strategic Storage Growth Trust
(Last Updated On: August 14, 2018)

REIT Securities Investigation – Strategic Storage Growth Trust

According to recent SEC filings, Strategic Storage Growth Trust Inc., a publicly registered non-traded real estate investment trust, plans to suspend its distribution reinvestment plan and share redemption program.

According to its website, Strategic Storage Growth Trust focuses on the acquisition, development, redevelopment, and lease-up of self-storage properties. The offering reportedly launched in January 2015 and raised more than $279 million in investor equity before closing in March 2017.

The company plans to suspend the distribution reinvestment plan suspension effective on August 23, 2018.  The share redemption program suspension will be effective on September 12, 2018.

Distributions declared for July 2018, which will be paid on August 15, 2018, as planned. However, future distributions will be paid in cash until the board decides to resume the plan, if at all. The company says it is “exploring liquidity options.”

Redemption requests received during the second quarter of 2018 were processed on July 31, 2018. Any redemption requests received during the third quarter of 2018, or any future quarter, will not be processed until the board approves the resumption of the program, if ever.

Are non-traded REITs suitable for you?

The White Law Group is investigating potential securities fraud claims involving broker dealers who may have unsuitably recommended non-traded REITs such as Strategic Storage Growth Trust to investors.

Non-traded REITs are generally speculative, high risk investments and due to these risks are often unsuitable for most investors.

Investors looking to sell non-traded REITs, like Strategic Storage Growth Trust, often have difficulty finding a buyer, and can suffer significant losses on the sale.

If you are concerned about your investment in Strategic Storage Growth Trust or another non-traded REIT and would like to discuss your recovery options, please call the securities attorneys of The White Law Group at (888) 637-5510 for a free, no risk 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.

FINRA provides an arbitration forum for investors to resolve disputes. The White Law Group represents investors in FINRA arbitration claims throughout the country. Visit the firm’s homepage to learn more about the firm’s representation of investors.

 

 

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