Strategic Student & Senior Housing Trust Inc.- Suspends Offering, SRP, Distributions due to Coronavirus Pandemic
Have you suffered losses investing in a non-traded REIT such as Strategic Student & Senior Housing Trust Inc.? If so, the securities attorneys at The White Law group may be able to help you to recover your losses through FINRA Arbitration.
Strategic Student & Senior Housing Trust Inc. Inc., a publicly registered non-traded REIT, has reportedly suspended its primary public offering, its share repurchase program (SRP), as well as distributions, due to the negative impact of the COVID-19 global pandemic on its portfolio.
According to filings with the SEC, the REIT, sponsored by SmartStop Asset Management LLC, said that due the Covid-19 pandemic there would be no way to predict overall financial results, and they believe it is “prudent to retain cash and preserve financial flexibility.”
Due to recent global events, the board approved the suspension of the offering effective immediately.
According to SEC filings, the board also reportedly suspended the share redemption program (SRP), effective May 3, 2020. Redemption requests made for the first quarter of 2020 will not be honored, nor will future requests, until further notice.
Recovery of Investment Losses
The White Law Group is investigating FINRA arbitration claims involving broker dealers who may have improperly recommended non-traded REITs to investors.
Brokerage firms are required to perform due diligence on any investment they recommend. They must ensure that the investment is suitable for a particular investor in light of that investor’s age, investment objectives, income, net worth, and investment experience. Given the current risk of devaluation of these REITs, such investments are likely only suitable for wealthy and/or sophisticated investors.
If you have suffered losses in a non-traded REIT such as Strategic Student & Senior Housing Trust Inc., please call the securities attorneys of 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 Franklin, Tennessee.
For more information on the firm, please visit https://www.whitesecuritieslaw.com.