Get Free Stock Picks, Macro Market Events & Options Strategies. For more information, please visit our About Us section. Recover Your Losses on Hospitality Investors Trust REIT A non-traded REIT seeks to restructure $1.3 billion in unsecured debt, What Strong Gold Says About The Weak Dollar: An In-Depth Analysis On Gold Prices, Investors Watch For Earnings, Budget Battle and Recession Signs (Weekly Cheat Sheet), Yield Curve Signals Recession, Bud Loses $5B & Gold Makes New Highs (Weekly Cheat Sheet). Hospitality Investors Trust, Inc., formerly known as ARC Hospitality Trust Inc., ("HIT REIT") is a publicly registered non-traded real estate investment trust which owns a diversified portfolio of "strategically-located hotel properties throughout North America within the select service and full-service markets of the hospitality sector," About Hospitality Investors Trust, Inc. If your financial advisor did not fully and/or accurately disclose the risks associated with an investment in HIT, including the products illiquidity and its stakeholders conflicts of interests, you may be entitled to a recovery. If so, the (312) 238-9650 | Fax (312) 238-8950 | (888) 637-5510 | 125 S. Wacker Drive, Suite 300, Chicago, Illinois 60606The information you obtain at this site is not, nor is it intended to be, legal advice. The REIT stopped all distributions in 2017. Hospitality Investors Trust, Inc. (HIT REIT) is a real estate investment trust (REIT) which owns a diversified portfolio of strategically-located hotel properties throughout the United States within the select service market of the hospitality sector. Hospitality Investors Trust Inc., a publicly registered non-traded REIT formerly known as American Realty Capital Hospitality Trust, is sponsored by AR Global. Eerily reminiscent of AFIN, VEREIT, and ARC NYC REIT, HIT REIT has experienced the same dramatic decrease in share prices for investors. Bachelor in International Trade, post graduate in Financial Engineering (FIA-SP) and MBA candidate in Economics. Brokers have an opportunity to earn high commissionssometimes as high as 15% onthe sale ofnon-traded REITs. The company notedthat it was trying to preserve liquidity in response to the coronavirus pandemicand in conjunction with actions taken by the companys franchisors temporarily suspending obligations of hotel owners to perform capital improvements and fund capital reserves,according to SEC filings. Hospitality Investors Trust Bankruptcy (HIT) REIT - Investor Notice Shares were originally sold for $25.00 each. Firms that fail to do so, may be held responsible for any losses. They are illiquid investments, which means that if you need to sell an asset to raise money quickly, you may not be able to do so with shares of a non-traded REIT. Moreover, it can be difficult to determine the value of a share of a non-traded REIT. The bankruptcy plan, issued in June 2021, worsens the situation for investors, with only a potential for payouts, limited to $6 per share and not transferable. The firm has filed numerous claims on behalf of investors who have suffered losses investing in Hospitality Investors Trust. HOSPITALITY INVESTORS TRUST INVESTOR ALERT: KlaymanToskes 1519 Robert C. Blakes Sr Dr, 1st Floor Davids advocacy has generated major recoveries for consumers impacted by financial fraud. Jock Zonfrillo found dead after flying back from family holiday in The company primarily operates its hotels under a franchise or license agreement with various brands. Hospitality investors must sell their shares on the secondary market to know the value of their shares. If you or a loved one have suffered investment losses on your investment in Hospitality Investors Trust, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation. Levin Papantonio Rafferty may be able to help you recover your losses in the Hospitality Investors Trust. Six of the hospitality industry's largest hotel companies are named in a new class-action lawsuit, which claims to have uncovered an antitrust scheme to reduce competition and raise consumer prices. If so, you may be able to participate in a lawsuit. Questions about our fee agreements are welcomed and encouraged. The company reportedly decided not to make required capital reserve payments to the mortgage lender in April and May 2020 which resulted in events of default under the 92-Pack Loans. Brookfield will provide a $25 million exit facility to Hospitality Investors Trust once the bankruptcy plan has been in place. Hospitality Investors Trust is a publicly registered, non-traded real estate investment trust whose initial offering became effective in 2014 and which declared bankruptcy in 2021. Brokers who failed to conduct adequate due diligence or did not appropriately disclose the risk of HIT to their clients may be liable for the losses suffered as a result of their failure. If distributions are declared and paid, the amount of the distributions paid may decrease or distributions may be eliminated at any time. Our securities attorneys are investigating Hospitality Investors Trust (HIT REIT) for potential legal claims on behalf of shareholders. We can help you recover damages for these losses by pursuing your claim, on a contingent fee . This field is for validation purposes and should be left unchanged. 4:25 pm All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, L&L, Mitsubishi default on Plaza District office tower, Investors bet big on comeback for UK pubs, Manhattan hotel trades in biggest distressed lodging deal of pandemic. The company has yet to declare a Net Asset Value for 2020, but as of December 31, 2019, it was $8.35 per share, a 9.3% decrease from the 2018 NAV. Further, the fund had not even identified any properties to acquire with the offering proceeds. The Levin Papantonio Rafferty law firm is representing investors who were sold shares of the HIT REIT in claims to recover their losses. As of today, we have completed approximately one-half of our PIP program; we do not expect to reinstate distributions prior to the completion of all remaining PIPs, which is likely to continue for at least the next two years. Amanda is spearheading a securities lawsuit against NantHealth concerning fraudulent statements to investors about the success of its key product. Hospitality Investors Trust Inc., a publicly registered non-traded REIT formerly known as American Realty Capital Hospitality Trust, has filed for Chapter 11 bankruptcy in Delaware to restructure its $1.3 billion unsecured debt. It was a risky investment from the beginning, because it did not have assets or own real estate properties. Blog, Current Investigations. If so, the securities attorneys at The White Law Group may be able to help you to recover your losses by filing a FINRA dispute resolution claim against your brokerage firm. Thus, the securities law firm of Peiffer Wolf has begun another investigation into any and all brokers and advisors who recommended HIT REIT to investors. This bankruptcy may be bad news for investors who were sold shares in HIT. Hospitality Investors Trust - Overview, News & Competitors - ZoomInfo If you believe you lost money because of unsuitable recommendations, including the addition of Hospitality Investors Trust REIT (HIT REIT) to your portfolio, it is important to take action. The distribution of payments also carries risk. How did so many retail investors, including retirees and seniors, come to hold shares of the REIT? Federal judge in our Chase lawsuit (resulting in $100 million settlement): They fought tooth and nail, down to the wire to achieve the best settlement that they could under the circumstances.. Or you may email our attorneys directly, shareholder and attorney Michael Bixby may contacted at mbixby@levinlaw.com. Hospitality Investors Trust REIT Investigation - Class Actions Lawsuits Entering text into the input field will update the search result below, high risk non-traded REITs, like HIT REIT. In January 2014 sales activity continued under the companys name, but was suspended in November 2015. If you invested in Hospitality Investors Trust REIT you were recently advised that the company filed for Chapter 11 bankruptcy on May 19, 2021, and you are now facing the loss of a significant portion of your investment. Healthcare Trust Inc. REIT Lawsuits - Compensation & Help Healthcare Trust Inc. was originally known as American Realty Capital Healthcare Trust II, Inc. Healthcare Trust was a high risk investment, and it should have only been recommended to investors who could afford a complete loss of their investment. Gibbs Law Groupsfinancial fraudandsecurities lawyershave more than two decades of experience prosecuting fraud. The White Law Group, LLC Announces Potential Securities Claims HIT REIT believes that additional liquidity from a source other than property operations the company requires may not be available on favorable terms or at all., The company notes that the objective of the limited partnership amendment with Brookfield is to preserve the companys cash position as it continues discussions with the Brookfield investor regarding a holistic solution to the companys liquidity dilemma.. The loan was modified to include a new repayment schedule and waive any default from a bankruptcy filing. Shareholders of the common stock will receive one CVR in exchange for each shareof commonstock. How to Recover Hospitality Investors Trust (HIT REIT) Investment Losses Soon after, in May 2021, a chapter 11 bankruptcy protection was filed by HIT. To contact us for a free confidential consult, you can call us at (800) 277-1193. The White Law Group continues to Hospitality Investors Trust, Inc. (HIT REIT) 2021 Lawsuit *UPDATED* Did your broker recommend an investment in Hospitality Investors Trust Blog, Current Investigations, Securities Fraud. Thousands of investors who were sold HIT have suffered severe losses. These loans have an interest rate of 15% per year. Financial advisors could earn commissions and dealer management fees going up to 10% for selling the HIT REIT. Previously in January of 2017, the company had suspended distributions indefinitely, significantly harming investors. Hospitality Investors Trust - how do I recover my losses? The attorneys and staff at Peiffer Wolf Carr Kane Conway & Wise produce top-quality work and our results speak for themselves. Unfortunately, the Hospitality Investors Trust was a high risk investment that carried a number of substantial risks. Class-action lawsuit accuses six hotel companies of antitrust tactics NorthStar Healthcare REIT Lawsuit | REIT Losses | Peiffer Wolf Hospitality Investors Trust REIT Lawsuit Investigation, Gender Discrimination against Transgender and Nonbinary People, Cole Credit Property Trust III (CCPT III). Broker dealers are required to perform adequate due diligence on any investment they recommend. Harion has an intensive course in Business Supplementary in Kaplan (Canada). Shareholders of the common stock will receive one CVR in exchange for each share of common stock. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. These increases were mainly a result . Usually that is not the case when dealing with legal matters but you guys (gals) rock., Ive always found them to be extraordinary counsel in terms of their preparation and their professionalism.. Stock Loss Recovery Lawyer. All copies must include this copyright statement. A REIT is a real estate investment trust, that is, a group that owns income-producing real estate. On May 19, 2021, Hospitality Investors Trust Inc., a non-traded REIT that owns a portfolio of hotel properties, filed for Chapter 11 bankruptcy in Delaware to restructure its $1.3 billion .

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