Did your broker recommend an investment in Presidio Property Trust?
The White Law Group continues to investigate potential securities claims involving the liability that brokerage firms may have for improperly recommending Presidio Property Trust, Inc. to investors.
On October 20, 2020, Presidio Property Trust, Inc.an internally managed, diversified real estate investment trust, announced the closing of its initial public offering of 500,000 shares of its Series A common stock at a price to the public of $5.00 per share for gross proceeds of $2.5 million, according to a press release.
These shares of Series A common stock began trading on the Nasdaq Capital Market on October 7, 2020 under the symbol “SQFT”.
The REIT’s real estate portfolio reportedly consists of approximately 1.1 million square feet comprising 15 properties: 10 office properties, one industrial property and four retail properties. Its commercial portfolio is located in Southern California, Colorado, and North Dakota, and says it is considering new commercial property acquisitions in a variety of additional markets across the United States.
The company initially said last June it intended to raise up to $8.6 million with nearly 1.3 million shares of Series C common stock priced between $5 to $7 per share.
Unfortunately for investors, according to Market Watch, the current value of SQFT is $3.18 per share. The share price has reportedly declined $-24.88 YTD.
Potential Lawsuits to Recover Financial Losses
The trouble with non-traded REITs is that they are complex and inherently risky products.
Lack of liquidity is often problematic for many investors. Investors looking to sell often have difficulty finding a buyer, and can suffer significant losses on the sale.
Broker dealers are required to inform clients of the risks associated with investment recommendations and to ensure that those recommendations are suitable for the investor in light of the investor’s age, risk tolerance, net worth, and investment experience. Firms that fail to do so, may be held responsible for any losses.
If you have suffered losses investing in Presidio Property Trust, please contact The White Law Group at 888-637-5510 for a free 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. For more information on the firm, visit www.WhiteSecuritiesLaw.com.