Industrial Property Trust – Third Party Tender Offer $9.00/share
The White Law Group continues to investigate FINRA arbitration claims involving Industrial Property Trust.
Unfortunately for investors it appears that many financial advisors/brokerage firms that sold REITs such as Industrial Property Trust, may have understated or misrepresented the risks and liquidity problems.
Industrial Property Trust is a publicly registered non-traded REIT, sponsored by Black Creek Group LLC. According to reports, Black Creek has made a deal to sell Industrial Property Trust in the 4th quarter of 2019 to an affiliate of Prologis Inc. (NYSE: PLD) in an all cash merger transaction reportedly valued at approximately $3.99 billion.
Third Party Tender Offer
According to filings with the SEC, Everest REIT Investors I LLC, a privately held real estate investment firm, has just extended an unsolicited tender offer to purchase 3.6 million shares of the REIT’s Class T common stock for $9.00 per share.
The estimated Net Asset Value (NAV) as of November 30, 2018, is $12.33 per share.
Prior to making recommendations to an individual investor, brokerage firms are required by the Financial Industry Regulatory Authority (FINRA) to disclose all the risks of an investment. Recommendations should only be made if the investment is suitable for an individual investor given their age, investment objections, investment experience and risk tolerance.
Brokerage firms that do not perform adequate due diligence on an investment and/or make unsuitable recommendations can be held accountable for investment losses through FINRA arbitration.
High commissions are often a motivating factor for unscrupulous financial advisors to sell non-traded REITs regardless of whether the investment is in line with the client’s investment objectives and profile. Moreover, the total commissions and expenses make it difficult for the REIT to perform in line with the market.
Free Consultation with a Securities Attorney
If you invested in Industrial Property Trust and would like to discuss your litigation options, 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 Vero Beach, Florida.
For more information on The White Law Group, visit https://www.whitesecuritieslaw.com.
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