Real Estate Investment Trusts (REITs)
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ARCP reports "weakness" in financial reporting controls
The audit committee for troubled traded REIT American Realty Capital Properties Inc. said it “found certain material weaknesses in the company's internal controls over financial reporting and its disclosure controls and procedures.”
Inland American cuts NAV after asset sale
In the wake of spinning off its hotel portfolio, nontraded REIT cuts estimated share value by 42.4%; new estimated value is $4 per share.
RCS Capital Corp. suffers big revenue hit in fourth quarter
Fallout from ARCP hurt wholesaling unit but executives remain confident in recovery.
Schorsch, ARCP dodge bullet as defamation suit dropped
Lisa McAlister, the company's former chief accounting officer, pulls her defamation suit, in which she claimed she was a scapegoat for a $23 million accounting error.
Cabot Lodge dispute heats up with whistleblower claim
Former compliance officer alleges fraud at nontraded REIT helmed by Jacob Frydman.
William Kahane replaces Nick Schorsch at American Realty Capital Global Trust
American Realty Capital Global Trust Inc. appointed William Kahane as executive chairman, replacing Nicholas Schorsch.The company made the management change on Feb. 11, according to a filing today. Mr. Kahane resigned as chief operating officer, American Realty Capital Global Trust said.In
Wealthy investors loving U.S. stocks
Investors continue to see domestic stocks as the best thing going: Legg Mason survey.
Former compliance officer sues Cabot Lodge owner
Jacob Frydman is focus of complaint that alleges plaintiff was fired for reporting 'certain improprieties' to Finra.
Activist investor wants ARCP board to resign
In an open letter to ARCP, Corvex decries the board's track record and calls for its resignation.
REITs fall hard as investors fear rising interest rates
Real estate investment trusts fell the most since September after a strong employment report renewed speculation that the Federal Reserve will boost interest rates in the first half of this year.
ARC REITs sign up KPMG as new auditor
A number of American Realty Capital nontraded real estate investment trusts and programs have signed up Big Four accounting firm KPMG as their new auditor. On January 22, Grant Thornton, the accountant for eight ARC nontraded REITs and a handful of other products, resigned.The ARC REITs disclosed
REITs not to the rescue this year
Breakfast with Benjamin: Real estate might not deliver as expected. Plus: This week, we'll really know how the drop in oil affected companies and consumers; in currencies, it's not all about the Swiss franc; it's budget day in Washington; and all the Super Bowl ads, in case you missed them.
BlackRock dives into ARCP
The fund giant has taken a major position in the beleaguered real estate investment trust, American Realty Capital Properties Inc., or ARCP.
Younger generations going all in with 401(k) contributions
Today's Breakfast with Benjamin features Gen Y and Gen X causing the the pace of 401(k) plan contributions to hit new heights. Plus: The ABCs of a hot REIT market, biotech stocks under the microscope, and something you might have in common with Bill Gates.
Grant Thornton resigns as auditor for eight Schorsch-linked nontraded REITs
The accountant for eight nontraded REITs managed by Nicholas Schorsch's privately held real estate manager, American Realty Capital, has resigned.