Real Estate Investment Trusts (REITs)
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Schorsch accused of manipulating ARCP books: Suit
American Realty Capital Properties Inc.'s former chief accounting officer alleges the ex-chairman ordered numbers to be changed.
Citigroup slaps 'buy' rating on RCAP as Moody's lowers ARCP debt to junk status
'Upside outweighs downside,' according to RCAP analyst; debt downgrade result of resignations
Exiting American Realty Capital Properties, Schorsch to give up $100 million in pay
Former executive chairman leaving behind $91 million salary, stock and cash bonuses plus retention award.
Schorsch exits key company that was part of his REIT empire
The REIT czar resigned from American Realty Capital Properties, which has lost more than a quarter of its value since disclosing accounting errors.
Schorsch-related nontraded REIT sales drop in November
Fundraising for American Realty Capital REITs declined 58% last month while Cole Capital suffered an 81% falloff in the wake of an accounting scandal. (See also: St. Nicholas puts holidays on ice)
St. Nicholas puts holidays on ice
Saint Nicholas — Nicholas Schorsch, that is — is putting the holidays on ice. In an email to American Realty Capital employees from Mr. Schorsch last Tuesday, he informed ARC staff that the company's holiday party was on hold and will be pushed into 2015.Mr. Schorsch is the chief executive and
Real estate funds ranked by three-year return, net assets
Ranked by three-year return FundPortfolio net assets ($M)1-year return3-year return5-year returnExpense ratio*Baron Real Estate Institutional (BREIX)$1,569.317.49%29.53%N/A1.090REMS Real Estate Value Opportunity Institutional (HLRRX)$451.716.26%22.01%19.11%1.440Third Avenue Real Estate Value
Fidelity's clearing arm restores processing some Schorsch-related nontraded REITs
National Financial Services, the clearing arm of Fidelity Investments, told its broker-dealer correspondents that, effective Monday, it was facilitating new purchases for 12 nontraded REITs and business development companies under the American Realty Capital brand along with other brands
Schorsch's RCS Capital, American Realty Capital Properties, bury hatchet in $60 million settlement
Two companies in Nicholas Schorsch's REIT empire have settled their dispute as RCS Capital Corp. agrees to pay American Realty Capital Properties to back out of its deal to buy Cole Capital.
Nicholas Schorsch steps back from some nontraded REITs
Nicholas Schorsch is taking a step back from the top role at three nontraded REITs he controls, handing the reins of two to his longtime investment partner. See also: Schorsch's vast web of businesses
Schorsch REIT suspension still in place at major broker-dealers
Berthel Fisher among firms that have lifted suspension, but others housing 29,000 advisers confirm they haven't.
Some broker-dealers resume selling Schorsch-related REITs
RCS Capital Corp. says it is regaining the confidence of IBDs, with firms reinstating 51 nontraded REIT selling agreements.
Accounting fiasco highlights tangled web behind Nicholas Schorsch's empire
In the wake of accounting problems at American Realty Capital Properties Inc., the rest of Nicholas Schorsch's empire has drawn scrutiny for its complexity.
Despite Steven A. Cohen's investment, RCAP shares face short-term hurdles
Hedge fund giant Steven A. Cohen boosting his ownership of shares in RCS Capital Corp. is a positive sign for the company, known by its ticker RCAP, but the stock still faces hurdles in the near term, one investor said.“I think there is a ton of potential” for RCS Capital, said David Millican,
How much is Sears' new REIT really worth?
The rush to buy Sears shares after the struggling retailer said it might spin off 200 to 300 stores as a real estate investment trust wasn't surprising. After all, investors have been waiting a decade for Edward Lampert, the hedge fund pooh-bah who controls Sears Holdings Corp., to tap the cash ...
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