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  1. Articles

    Schorsch allegations will haunt nontraded REIT industry

    Industry "floored" by allegation that REIT czar had hand in $23 million accounting error at American Realty Capital Properties.

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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.

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    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

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    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.

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    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.

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    Joan Rivers' estate planning gambit: A New York state of residence

    A quirk that splits Joan Rivers' state of residency and state of domicile catches estate planning experts' eyes.

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    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)

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    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

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    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

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    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

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    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.

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    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

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    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.

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    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.

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    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.