Real Estate Investment Trusts (REITs)
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Fidelity, Schwab to halt AR Capital sales
Firms pull the plug after Massachusetts charges RCS Capital with fraudulently rounding up proxy votes to support real estate deals sponsored by AR Capital.
AR Capital to stop creating new nontraded REITs, close existing programs to new investors
In a major reversal, the powerhouse nontraded REIT sponsor built by Nicholas Schorsch is exiting the business of creating and selling new alternative investment products and will stop taking new investor money for existing programs.
Cetera suspends sales of AR Capital REITs
Broker-dealer takes action after Massachusetts' securities regulator charged a related company with fraudulently rounding up proxy votes to support real estate deals sponsored by AR Capital.
Nontraded REIT sponsors changing compensation for advisers
New share class dubbed a “T share” cuts upfront commission brokers are paid but creates an annual trailing commission.
Calpers makes another move away from pricey investments by trimming real estate exposure
Breakfast with Benjamin: Nation's largest public pension fund trims its real estate holdings with a $3B sale.
RCAP "unlikely" to dump Cetera for $700 million: analyst
Citigroup's Bill Katz questions report that RCAP was shopping Cetera for 'fire sale' price
RCS Capital cuts due diligence team at Cetera Financial
Group focuses on mainstream and alternative investments such as nontraded REITs.
More distressing news for the 'Diva of Distressed' Lynn Tilton
Breakfast with Benjamin: Lynn Tilton is now being charged with 'grossly' mismanaging $100 million in investor assets, which she denies.
A weak outlook for earnings doesn't bode well for stocks
Breakfast with Benjamin: Corporate earnings are expected to decline 4.1%, and the stock market hunkers down for a rough earnings season.
Bearish real estate market creating opportunities for REITs, investors
Blackstone exec says expects more REITs to go private, asset sales, share buybacks, debt reduction.
Hedge fund marketers have independent advisers in their sights
Breakfast with Benjamin: Now that hedge funds have the green light to market their wares, they're zeroing in on independent advisers.
Activist investor calls for board revamp at New York REIT
Jonathan Litt says REIT, once a part of Nicholas Schorsch's real estate empire, suffering from lack of investor confidence due to legacy management structure.
Two Schorsch REITs cancel liquidity events
Two nontraded real estate investment trusts managed by Nicholas Schorsch's AR Capital have, at least for now, called off listing on a national stock exchange this quarter.The company pointed to market turbulence and the expected closing of AR Capital's sale to an affiliate of Apollo Global
Buyout spree looms as discounts in U.S. real estate stocks deepen
More takeovers may follow Strategic Hotels, BioMed deals as REIT shares offer 15% discount to buying individual buildings.
LPL to pay $1.4 million fine and return investor money for certain nontraded REIT sales
Broker-dealer agrees to a $1.4 million fine and will return investor money on approximately 2,000 sales of nontraded REITs. Firm also settles with states regarding leveraged ETFs.