Results for "real estate investment trusts (REITs)"

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Nontraded REITs to post worst sales since 2002

November 21, 2017

Sales of nontraded real estate investment trusts are headed for their worst year since 2002, with the industry on track to raise just $4.4 billion in equity in 2017, about $100,000 less than a year earlier, according to data from Robert A. Stanger...

Cole Capital, once part of a company coveted by Nicholas Schorsch, is being sold

November 13, 2017

With sales of nontraded real estate investment trusts sagging, Vereit Inc., a large listed real estate trust, said on Monday after the market's close it was exiting the nontraded REIT business and selling Cole Capital for $120 million in cash...

Finra bars two Schorsch-linked ex-salesmen in proxy scam

November 7, 2017

The Financial Industry Regulatory Authority Inc. on Monday barred two former Realty Capital Securities salesmen involved in the 2015 proxy fraud that led to the eventual closing of that firm. Realty Capital was the wholesaling broker-dealer...

Bills to bolster accredited investors, alternative investments gain momentum

November 9, 2017

Legislation that would deepen the pool of sophisticated investors who can participate in private securities offerings and expand the lending capability of business development companies is gaining momentum in Congress. On Nov. 1, the House approved...

Creation of new interval funds outpacing that of nontraded REITs

October 6, 2017

Interval funds look like they are becoming a new favorite alternative investment for brokers and advisers, with the number of new interval funds outpacing nontraded real estate investment trusts for the second year in a row. Through the first...

Massachusetts blasts SII over nontraded REIT sales

September 20, 2017

Massachusetts regulators have charged SII Investments with "dishonest or unethical conduct and failure to supervise" sales of non-traded real estate investment trusts (REITs) to investors by inflating clients' liquid net worth. In doing so,...

As trial of ARCP CFO Brian Block comes to close, two sides engage in smear campaign against witnesses

June 29, 2017

Attorneys presented closing arguments Thursday in the securities fraud trial for Brian Block, the former chief financial officer at the giant REIT once controlled by Nicholas Schorsch, with the prosecution calling Mr. Block a liar who fabricated...

W.P. Carey exiting the nontraded REIT business

June 16, 2017

W.P. Carey Inc., one of the companies instrumental in the evolution of the nontraded real estate investment trust business, is pulling out of the nontraded REIT market. The company will continue to manage its current nontraded REITs and other...

Layoffs, reorganization for First Capital

June 1, 2017

Employees of the First Capital companies, which include a small non-traded real estate investment trust and business development company, were told over the Memorial Day weekend in a memo that there would be layoffs and a reorganization of the...

Judge declines to dismiss indictment against former ARCP CFO Brian Block

May 1, 2017

A federal judge on Friday declined to dismiss an indictment alleging that Brian Block, the former chief financial officer of American Realty Capital Properties Inc., or ARCP, participated in a fraudulent scheme to inflate the company's financial...

ARCP Ex-CFO Brian Block guilty of securities fraud

June 30, 2017

A New York federal jury on Friday found Brian Block, the former chief financial officer of American Realty Capital Properties Inc., a giant REIT once controlled by Nicholas Schorsch, guilty of cooking the books at the net lease real estate investment...

Brian Block denies cooking the books at Schorsch REIT

June 27, 2017

Fighting to prove his innocence from federal securities fraud charges, Brian Block, the former CFO of a giant REIT formerly controlled by Nicholas Schorsch, took the stand in federal court in Manhattan on Monday and testified he did not fudge...

Brian Block's lawyer portrays prosecution witness as a liar

June 21, 2017

The defense for Brian Block hit back Tuesday at a key witness in the government's securities fraud case against the former real estate executive, portraying the witness, Lisa McAlister, as a liar who would testify to almost anything to protect...

Feds move to undermine CFO Brian Block's defense of inaccurate financial filings at ARCP

June 28, 2017

During cross-examination at his securities fraud trial Wednesday, Brian Block, the former chief financial officer at American Realty Capital Properties Inc., asserted that he wasn't operating in a "silo" when calculating a key accounting metric...

Investors accuse Nicholas Schorsch of plundering RCAP for own gain

March 10, 2017

A group of investors has accused Nicholas Schorsch, the former nontraded REIT czar, and his partners of siphoning off revenue in RCS Capital, or RCAP, a company once controlled by Mr. Schorsch that went into bankruptcy. The allegation, which...

Shareholders approve merger of two Schorsch REITs

February 16, 2017

A year ago, Nicholas Schorsch, the former nontraded REIT czar, was working to consolidate more than half a dozen real estate investment trusts with more than $10 billion in assets. Now, those moves have begun to bear fruit for Mr. Schorsch and...

Defense hits key government witness in Brian Block fraud trial

June 16, 2017

The defense for Brian Block, the former chief financial officer for American Realty Capital Properties Inc. who is on trial for securities fraud, continued to work to undercut a key government witness who worked alongside Mr. Block in creating...

Changing direction, FS Investments launching a nontraded REIT

February 14, 2017

FS Investments launched a $2.5 billion commercial mortgage nontraded REIT Monday, a first for the company better known for sponsoring non-traded business development companies. The new company, FS Credit Real Estate Income Trust Inc., has hired...

Brian Block's $4 million bonus was tied to a key metric at ARCP

June 23, 2017

Brian Block's $4 million bonus at American Realty Capital Properties depended in part on the value of a key earnings metric with which he is accused of tampering. The compensation arrangements of Mr. Block are "fair game" to be allowed into...

Trial begins for former CFO of ARCP, Brian Block

June 14, 2017

Did Brian Block, former chief financial officer of a giant real estate investment trust once controlled by Nicholas Schorsch, cook the books in 2014 as he faced pressure to hit financial goals for the company? Or, rather, did Mr. Block act in...

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