The White Law Group is announcing a continued investigation into the sale of Cornerstone Real Estate Funds (REITs).
The firm is investigating whether brokerage firms and financial professionals misrepresented the safety of Cornerstone Real Estate Fund investments. The following is a list of the Cornerstone Funds currently or formerly offered to the investing public:
Cornerstone Core Properties REIT, Inc. (Cornerstone Core Property REIT)
Cornerstone Growth & Income REIT, Inc.
Cornerstone Private Equity Fund, Inc.
CIP Leveraged Fund Advisors, LLC (CLFA)
Cornerstone Industrial Properties, LLC (CIP)
Cornerstone Realty Fund, LLC
Cornerstone Healthcare Plus REIT, Inc.
Cornerstone Healthcare Real Estate Fund, Inc.
The firm is carefully monitoring and investigating how these investment products have been sold.
FINRA has announced that it is paying close attention to the sale of REITs and, in particular, the ways in which broker/dealers marketed and sold the products to investors. In many cases, and notwithstanding the risk of REIT investments, broker-dealers marketed these investments as safe and secure.
REITs typically pay a high commission – up to as much as 15% (which in some cases may explain the stockbroker’s motivation in recommending the REIT investment to the investor).
It appears that some of the foregoing Cornerstone real estate investments may have been sold through the California based Pacific Cornerstone Capital, Inc. (the brokerage arm of Cornerstone Real Estate Funds). Additionally, according to the Cornerstone Real Estate Funds own website “Cornerstone’s funds are available through thousands of FINRA (formally known as NASD) registered financial advisors throughout the country.”
To determine whether you may be able to recover investment losses incurred as a result of your purchase of a Cornerstone Real Estate Fund or REIT, please contact The White Law Group’s Chicago office at 312-238-9650.
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 Boca Raton, Florida.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.