Sila Realty Trust: Liquidation and Lawsuits

SILA Realty Trust Inc. (NYSE: SILA), a healthcare-focused net lease REIT, recently marked the one-year anniversary of its public listing on the New York Stock Exchange. On June 13, 2024, the company began trading at $19 per share and closed at $22.70, up 19.47% from the opening price. As of June 13, 2025, shares closed at $24.11 — a modest 6.2% increase year-over-year.

While the company describes this as a “celebration” in recent investor communications, some investors may view the performance differently, especially when compared to its estimated net asset value (NAV) of $29.92 per share reported just months before the IPO. This stark discount to NAV could be a red flag for investors concerned about the true value of their holdings.

SILA Realty Trust Shares Trading Below NAV

Despite its public listing, SILA Realty Trust shares continue to trade significantly below their reported NAV. The company’s NAV as of October 31, 2023, was $29.92 per share, adjusted after a 1-for-4 reverse stock split effective May 1, 2024. Yet, on the one-year anniversary of its NYSE debut, shares closed at $24.11, reflecting a 19.4% discount to NAV.

This disconnect between market price and NAV raises serious concerns about valuation and transparency for retail investors who may have been misled about the security and potential upside of the investment.

Decrease in Share Value Before Listing

Before the IPO, SILA’s Board of Directors approved an estimated value of $7.48 per share on December 18, 2023, based on independent appraisals by Cushman & Wakefield. This was a drop from $8.13 per share as of March 31, 2023. This significant decline in value—especially given the original offering price of $10 per share—raises questions about how this investment was marketed.

Unsolicited Tender Offers at Steep Discounts

In November 2023, Comrit Investments 1, LP offered to purchase SILA shares at just $5.62 per share, far below the company’s estimated NAV. Meanwhile, Lodas Markets, a secondary marketplace for non-traded REITs, listed SILA shares for as low as $4.80 per share.

The company acknowledged that it cannot guarantee a successful liquidity event or a sale at prices higher than these unsolicited offers. While prior tender offers were discouraged, the Board remained neutral on Comrit’s latest bid—potentially signaling uncertainty about the stock’s long-term value.

SILA Realty Trust Tenant Files for Bankruptcy

Adding to investor concerns, GenesisCare USA Inc., one of SILA’s key tenants, filed for Chapter 11 bankruptcy protection in June 2023. The company reportedly operates 17 properties owned by SILA. Although lease payments were current as of May 2023, the tenant’s bankruptcy raises long-term concerns about rental income stability and property valuation.

Risks of Non-Traded REITs

Non-traded REITs like SILA are illiquid, high-risk investments typically offered to retail investors as “safe” or “income-producing.” However, these products often involve:

• High upfront commissions (typically 7–10%)
• Lack of transparency
• Limited secondary market availability
• Steep discounts on resale

Investors often discover that when they need liquidity, they must accept substantial losses, especially if they sell on secondary markets or during a tender offer.

Broker Due Diligence Obligations

Brokers are required by FINRA to perform reasonable due diligence and to ensure that investments are suitable for each client based on their:

• Age
• Investment experience
• Risk tolerance
• Financial goals

If your financial advisor recommended SILA Realty Trust without properly disclosing risks, or if the investment was unsuitable given your profile, you may have grounds for a FINRA arbitration claim to recover losses.

Class Action vs. Individual FINRA Arbitration

If your losses in SILA Realty Trust are substantial (typically over $100,000), filing an individual FINRA arbitration claim is often a more effective option than participating in a class action. FINRA arbitration is a private legal process specifically designed for resolving disputes between investors and brokerage firms.

SILA Realty Trust Lawsuit – Free Consultation

The White Law Group is currently investigating potential claims involving SILA Realty Trust Inc. (formerly Carter Validus Mission Critical REIT II). If you were misled by your financial advisor into investing in SILA Realty Trust and have experienced losses, you may have a legal claim to recover your investment through FINRA arbitration.

Contact Us

To learn more about your legal options or to schedule a free consultation, please call The White Law Group at 888-637-5510
or visit us at www.whitesecuritieslaw.com

The White Law Group is a national securities fraud and investor protection law firm with offices in Chicago, IL and Seattle, WA