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Monthly Archives: December 2019

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Former Ladenburg Chairman Files Lawsuit to Halt Advisor Group Merger

Ladenburg Thalmann Financial Services Inc.’s former chairman and its largest shareholder, Phillip Frost, has filed a lawsuit against the firm following its proposed merger...

FINRA Fines Five Firms $1.4 Million for Failing to Reasonably Supervise Custodial Accounts

The Financial Industry Regulatory Authority has fined five broker-dealers a total of $1.4 million for failing to properly monitor custodial accounts established under the...

Caliber Opportunity Zone Fund Buys Arizona Office Property

Caliber, a full-service real estate investment company based in Scottsdale, has closed on a 50,000 square-foot building in a Mesa, Arizona opportunity zone.Located at...

Strategic Wireless Adds Indianapolis Cell Tower to Portfolio

Strategic Wireless Infrastructure Funds Management LLC, an investment manager focused on telecom infrastructure assets, has purchased a multi-tenant tower located near the Indianapolis International...

Massachusetts Fines Next Financial Group $150,000 Over Unsuitable REIT Sales

The Massachusetts Securities Division has fined Texas-based broker-dealer and investment adviser, NEXT Financial Group $150,000 over unsuitable sales of non-traded real estate investment trusts...

Two Cantor Fitzgerald REITs Name New CFO, Treasurer, and Director

Rodin Global Property Trust Inc. and Rodin Income Trust Inc., two real estate investment trusts sponsored by Cantor Fitzgerald Investors, announced that Steven Bisgay...

GWG Holdings Hires Vice President of Due Diligence

GWG Holdings Inc. (NASDAQ: GWGH), a sponsor of non-traded life settlement investment programs, has hired Christina Granada as its vice president of due diligence.Granada...

Phillips Edison & Company Secures $200 Million Secured Debt Facility

Phillips Edison & Company Inc., an internally managed real estate investment trust that invests in grocery-anchored shopping centers, has secured a 10-year, $200 million...

FINRA Files Complaint Against Broker for Unsuitable REIT and BDC Investments

The Financial Industry Regulatory Authority has filed a complaint against Southeast Investments broker Mercer Hicks III, aka Toby Hicks, alleging that he made unsuitable...

KBS REIT III Declares NAV Per Share

The board of KBS Real Estate Investment Trust III Inc., a publicly registered non-traded real estate investment trust, has approved an $11.65 net value...

Starwood REIT Buys Salt Lake City Multifamily Property

Starwood Real Estate Income Trust Inc, a perpetual-life monthly NAV REIT sponsored by private investment firm Starwood Capital Group, has purchased Avida, a multifamily...

Private Equity-Backed Wealth Enhancement Group to Buy $990 Million Hybrid

Wealth Enhancement Group, an independent wealth management firm that oversees $15.1 billion in client assets, has agreed to purchase BPU Investment Management Inc., a...

Cole Office & Industrial REIT Declares Special Distribution

The board of Cole Office & Industrial REIT Inc. (CCIT II), a publicly registered non-traded real estate investment trust, has authorized a $1.03 per...

Rich Uncles REITs Shareholders Approve Merger

Shareholders of RW Holdings NNN REIT Inc., a publicly registered non-traded real estate investment trust also known as Rich Uncles NNN REIT Inc., and...

Strategic Capital Hires Former Digital Realty Trust Exec to Run Data Center Platform

Strategic Capital Fund Management, an alternative investment product sponsor and asset management arm affiliated with SC Distributors, has hired Bryan Marsh to lead its...

Strategic Storage Trust IV Buys First Self Storage Facility in the Phoenix Area

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT Inc., has...

Treasury Releases Final Rules on Opportunity Zones

The U.S. Treasury Department and the Internal Revenue Service have issued final regulations implementing the opportunity zone tax incentive.Opportunity zones, created by the Tax...

Blackstone REIT Increases Monthly NAV Per Share

Blackstone Real Estate Income Trust, a publicly registered non-traded REIT sponsored by private equity giant The Blackstone Group (NYSE: BX), updated the monthly net...

RREEF Property Trust Buys Industrial Distribution Center Near Seattle

RREEF Property Trust Inc. (NASDAQ: ZRPTAX; ZRPTIX; ZRPTTX), a publicly registered, daily NAV REIT advised by DWS Group, has purchased a 210,300-square-foot industrial distribution...

Capital Square Launches OZ Fund for Third Richmond Multifamily Development

Capital Square, a sponsor of tax-advantaged real estate investments, has launched CSRA Opportunity Zone Fund III LLC. The project-specific opportunity zone fund is raising...