Behringer Harvard Multifamily REIT I Name Change
Have you suffered investment losses in Behringer Harvard Multifamily REIT I? If so, the securities attorneys of The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
In June 2014, Behringer Harvard Multifamily REIT I, Inc. changed its corporate name to Monogram Residential Trust, Inc., to become a fully integrated self-managed REIT. At the time, the REIT had investments in nearly 16,000 luxury apartment homes.
According to their website, Monogram is a real estate investment trust (REIT) that creates value through a portfolio of distinctive multifamily communities. Monogram capitalizes “on investment and development opportunities in high-growth urban locations. With the Monogram Apartment Collection operational platform, Monogram drives value through efficient asset management and rent growth.”
Update on Monogram
According to a press announcement on September 19, 2017 the company announced the completion of its acquisition led by funds managed by Greystar Real Estate Partners and its capital partners.
The announcement follows Monogram stockholders’ vote to approve the merger and the other transactions contemplated by the merger agreement, including the restructuring of Monogram’s joint venture with PGGM, on September 14, 2017. Monogram’s stockholders received $12.00 per share in cash. As a result of the transaction, the Company’s common stock ceased trading on the New York Stock Exchange, effective September 20, 2017.
The Trouble with Non-Traded REITs
The trouble with non-traded REITs, like Behringer Harvard Multifamily REIT I (Monogram Residential Trust), 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.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of Behringer Harvard Multifamily REIT I or Monogram Residential Trust REIT, please contact The White Law Group at 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 firm, visit www.WhiteSecuritiesLaw.com.