American Realty Capital New York City REIT Investors May Have Claims Against Brokerage Firms and Advisors if the Sale Recommendations Were Unsuitable
Have you or a loved one invested in American Realty Capital New York City REIT (“ARC NYC REIT”)? Investors in ARC NYC REIT may have just cause to pursue arbitration claims against their investment professionals, if those professionals’ recommendations to invest in ARC NYC lacked a reasonable basis and/or were unsuitable, according to investor rights attorney Alan Rosca.
Securities attorney Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to ARC NYC REIT’s alleged unreasonable investment recommendation by certain financial advisors. Investors whose brokers improperly sold them ARC investments without a reasonable basis may have a claim, and are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
ARC NYC REIT’s Board Reportedly Elected to Suspend Distributions
ARC NYC REIT’s Board has elected to suspend distributions, as of March 1, 2018, according to SEC Filings under review by attorney Alan Rosca.
Said suspension of future distributions was supposedly made in order to improve the non-traded REIT’s ability to execute on acquisitions, as well as conduct repositioning and leasing efforts related to its property portfolio, according to ARC NYC REIT’s Board.
ARC NYC REIT was incorporated in December 2013 and is registered with the SEC, SEC Files indicate. ARC NYC REIT is structured to provide its investors with a combination of current income and capital appreciation through strategic investments in high-quality commercial real estate located throughout New York City, its website notes.
Several non-traded REITs pose substantial risks, including their initial structure, as well as the nature of the income paid to investors. As to their initial structure, many non-traded REITs are so-called blind pools, meaning that an investor pondering a capital commitment may have little or no information as to the nature and quality of the assets to be purchased by the REIT.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the allegations mentioned in this article, unless otherwise indicated.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related [AR2] misconduct and are currently investigating ARC NYC REIT’s alleged unreasonable investment recommendation by a financial advisor. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, [AR3] has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of ARC NYC REIT’s alleged unreasonable investment recommendation by financial advisors may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at email@example.com, or through the contact form on this webpage.