Third Party Tender offer – Phillips Edison & Company
Are you concerned about your investment in Phillips Edison & Company (formerly known as Phillips Edison Grocery Center REIT)? If so, the securities attorneys at The White Law Group may be able to help you to recover your losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
Phillips Edison & Company, Inc., an internally-managed REIT, is “one of the nation’s largest owners and operators of grocery-anchored shopping centers,” according to its website. As we told you in July, the REIT recently entered into a merger agreement with another REIT, Phillips Edison Grocery Center REIT II, Inc.
Update on April 2, 2019 – New Tender Offer
According to a new report, MacKenzie Realty Capital, Inc. is offering to purchase shares of Phillips Edison for $7.39 per share between now and May 3, 2019.
According to the offer letter, the Phillips Edison estimates that its shares are worth $11.05 per Share. Unfortunately for investors, “Phillips Edison reset its share repurchase queue after the merger and cancelled all SRP requests on file. The next standard repurchase will take place in July 2019. However, in 2018 the SRP surpassed its funding limits.”
This could make it difficult for investors to sell shares of Phillips Edison & Company in 2019.
Lack of Liquidity – Risk of Non-Traded REITs
Investors looking to sell alternative investments, like Phillips Edison & Company, often have difficulty finding a buyer, and can suffer significant losses on the sale.
Your financial advisor has a responsibility to perform due diligence on any investment before recommending it to you. If your advisor unsuitably recommended Phillips Edison & Company and you lost money, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claims against the brokerage firm that sold you the investment.
The Financial Industry Regulatory Authority (FINRA) provides an arbitration forum for investors to resolve disputes with their brokerage firm. If a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be found liable for investment losses in a FINRA arbitration claim.
For a free, no obligation consultation with a securities attorney, please contact the offices of The White Law Group at 1-888-637-5510.
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 Franklin, Tennessee.
Visit the firm’s homepage to learn more about the firm’s representation of investors.