Concerned about your investment in Procaccianti Hotel REIT?
Are you concerned about your investment losses in Procaccianti Hotel REIT? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.
Procaccianti Hotel REIT, a publicly registered non-traded REIT sponsored by real estate firm Procaccianti Companies Inc., has raised $44.3 million in investor equity through its private and public offerings, as of March 16, 2020.
The REIT’s $550 million initial public offering launched in August 2018 to invest in hospitality properties including select-service, extended-stay, and compact full-service hotel properties throughout the United States.
According to filings with the SEC, on April 23, 2020, Procaccianti announced that it had reached agreement with certain lenders to modify two loans. These include the Hotel Indigo Traverse City Loan and the Hilton Garden Inn Loan.
Procaccianti previously announced a temporary suspension of its common stock offering effective April 7, 2020 as well as the temporary suspension of its distribution reinvestment plan effective April 17, 2020. The company previously noted that it intends to pay quarterly distributions for the quarter ending March 31, 2020. Future distributions will reportedly be made on a quarter-by-quarter basis.
Recovery of Investment Losses
The White Law Group is currently investigating potential claims against brokerage firms who may have unsuitably recommended non-traded REITs to investors.
These claims result when broker-dealers fail to perform adequate due diligence on the investments before offering them for sale to their clients. Additionally the brokerage firms often fail to determine whether the investments were appropriate in light of their clients’ age, investment, experience, net worth, and tolerance for risk.
If you are concerned about your investment losses in Procaccianti Hotel REIT, please call the securities attorneys of 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 and Franklin, Tennessee.
For more information on The White Law Group, visit https://www.whitesecuritieslaw.com.