February 21, 2019 Comments (0) Blog, Current Investigations

Inland Residential Properties Trust Liquidation

Inland Residential Properties Trust Liquidation, Featured by Top Securities fraud Attorneys, The White Law Group

Inland Residential Properties Trust

Are you concerned about your investment in Inland Residential Properties Trust? If so the securities attorneys at The White Law Group may be able to help you by filing a FINRA Resolution Claim against the brokerage firm that sold you the investment.

Chicago-based Inland Real Estate Group is reportedly liquidating Inland Residential Properties Trust, a non-traded apartment REIT that it launched three years ago with a $1 billion fundraising goal. In September, after raising only $50 million, the REIT’s board voted to call it quits, and sell off its three properties to pay back investors, according to Chicago Business.

Inland Residential shareholders reportedly approved the company’s plan of liquidation in December 2018, which reportedly includes selling the company’s assets, distributing the net cash to shareholders, and dissolving the company, according to SEC filings.

Unsolicited Tender Offer

According to reports today, affiliates of MacKenzie Capital Management have extended an unsolicited tender offer to purchase up to 200,000 shares of Inland Residential Properties Trust Inc., for just $11.39 each. This may mean significant losses for investors since the original offering price was $25.00 per share.

The offer constitutes 9.26 percent of the outstanding shares and expires on March 22, 2019.

Further, the board recently approved a post-distribution estimated net asset value per share of $16.06 for the company’s Class A common stock as of February 1, 2019.

The White Law Group is investigating potential claims involving broker dealers who may have unsuitably recommended high-risk non-traded REITs like Inland Residential Properties 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 Inland Residential Properties Trust, often have difficulty finding a buyer, and can suffer significant losses on the sale.

If you are concerned about your investment in Inland Residential Properties 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, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.

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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