Results for "real estate investment trusts (REITs)"

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Coming off a disastrous 2016, sales of nontraded REITs could bounce back in 2017

December 27, 2016

After a disastrous 2016, industry analysts and executives are cautiously optimistic that sales of nontraded real estate investment trusts will bounce back next year. There are a number of reasons why sales of nontraded REITs, declined from nearly...

Payroll problems dog small nontraded REIT

November 23, 2016

A small nontraded real estate investment trust that has missed filing financial statements with the Securities and Exchange Commission for more than a year and recently cut its dividend to investors is now facing another hurdle: failing to pay...

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...

Schorsch REIT merger may not be in the best interest of shareholders

September 8, 2016

A proposed deal to merge two nontraded real estate investment trusts by a company controlled by former nontraded REIT czar Nicholas Schorsch is under scrutiny by industry observers who question whether it is in the best interests of shareholders....

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...

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...

Brian Block trial witness says Nicholas Schorsch had hand in cooking the books at ARCP

June 20, 2017

A key witness in the trial of Brian Block, the former chief financial officer of a giant real estate investment trust once controlled by Nicholas Schorsch, suggested Monday that Mr. Schorsch had a hand in cooking the company's books by directing...

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...

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...

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...

Dividend cuts possible at AR Global REITs, analysts say

July 11, 2016

Investors in a number of AR Global-sponsored real estate investment trusts face the potential danger of a cut in distributions, according to industry analysts and consultants. The culprit is a REIT cash flow metric known as MFFO — or modified...

Accounting at ARCP center of fraud charges against Brian Block

June 15, 2017

A former high-ranking executive at American Realty Capital Properties Inc. testified on Tuesday afternoon and Wednesday that in emails and meetings in 2014 he repeatedly raised the warning of an accounting mistake in the real estate investment...

Former AR Global REIT director cries foul over potential merger

May 20, 2016

A former independent director of two nontraded real estate investment trusts controlled by Nicolas Schorsch claims “a manifest conflict of interest” in the potential merger of one of those REITs into a related company. Last month, InvestmentNews...

Director leaving two Schorsch nontraded REITs

May 2, 2016

As nearly half-a-dozen Nicholas Schorsch-controlled nontraded real estate investment trusts move to consolidate, the boards of two of those REITs are losing one of their directors. Robert Froehlich, an independent director for two REITs, Realty...

Schorsch's AR Global looking to consolidate $10.5 billion of REITs

April 26, 2016

Nicholas Schorsch's AR Global is attempting to consolidate more than a half dozen real estate investment trusts with almost $10.5 billion in assets, according to two sources with knowledge of the negotiations. Two REITs, American Finance Trust...

Troubled Texas REIT defaults on $35 million loan

May 24, 2016

United Development Funding IV, a troubled Texas real estate investment trust under investigation by the FBI, has defaulted on a $35 million term loan and has suspended its distributions to shareholders. UDF IV, with $684 million in assets, has...

Finra's REIT rule to raise transparency on prices takes effect

April 11, 2016

Independent broker-dealers on Monday began to adjust to a revised industry rule intended to give investors a clearer picture of what they are paying for investments: a change to customer account statements regarding the value of illiquid investments...

New broker-dealer hires Realty Capital wholesalers to push into REIT market

April 19, 2016

S2K Financial, a new broker-dealer that plans on wholesaling nontraded real estate investment trusts to independent broker-dealers and their advisers, has hired 11 former Realty Capital Securities wholesalers and employees to round out its staff...

New Jersey fines David Lerner Associates for nontraded REIT sales

May 26, 2017

New York-based David Lerner Associates Inc. has signed a consent order from the New Jersey Department of Securities resolving allegations that it unlawfully sold nontraded REITs in the state. In signing the consent order, the firm agreed to...

Texas REIT subpoenaed after FBI raid

February 22, 2016

Management of distressed real estate investment trust United Development Funding IV — which a hedge fund claims is no more than a Ponzi scheme — has been subpoenaed to hand over company documents to a grand jury. The FBI last Thursday raided...

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