In putting together a deal for Apple REIT Six, Blackstone has given a boost to the trust's shareholders — and stemmed the recent tide of bad news for David Lerner Associates.
Broker sold Fannie Mae preferred stock despite risk warnings
In what's stacking up as something of a trend, another nontraded REIT has decided to forgo the so-called 'internalization fee' paid to its adviser.
On Friday, Corporate Property Associates 15 Inc. closed a merger with its parent, the publicly traded real estate manager W.P. Carey & Co LLC. The new company, which is now a publicly traded REIT called W.P. Carey Inc., began trading Monday morning and will retain the symbol WPC.
Last week, Massachusetts sued LPL for its sales and marketing of a popular nontraded REIT. Expect the plaintiffs' bar to swoop in as well.
Brokers at Edward Jones are being asked to sign a new employment contract. While the agreement is not new, the tough wording has caught some reps by surprise.
