Are you concerned about investment losses in CNL Growth Properties? If so, The White Law Group may be able to help you recover your losses through FINRA arbitration.
CNL Growth Properties Inc., one of several non-traded REITs managed by Orlando-based CNL Financial Group, has decided to liquidate all of its multifamily properties and dissolve the company after completing a review of strategic options.
REITs are complex, high risk securities that lack liquidity which makes them unsuitable for many investors. Unfortunately, some broker-dealers will overlook FINRA suitability rules when making investment recommendations to clients, because of the opportunity for high commissions.
On December 2, 2016, CNL Growth Properties, Inc. (CNL Growth) announced that the board of directors approved a liquidating cash distribution of $2.30 per share to the common stockholders as of December 6, 2016, payable on December 8, 2016.
This is the second liquidating distribution under the stockholder approved plan of dissolution. The liquidating distribution follows CNL Growth’s sale of two portfolio assets, the Crescent Gateway property and the City Walk property. The proceeds of the sales of the two properties, net of repayment of debts and closing costs, totaled approximately $32.7 million.
The White Law Group is investigating potential securities fraud claims involving broker-dealers’ improper recommendation of REIT investments. Brokerage firms that sell such products are required to perform adequate due diligence on the investments to ensure a reasonable likelihood of success, and to evaluate whether the investments are suitable in light of the client’s age, net worth, investment experience, and investment objectives.
For more information on The White Law Group’s investigation of CNL Growth Properties, see Latest News on CNL Growth Properties, Inc.
Firms that fail to perform adequate due diligence, or that make unsuitable recommendations, can be held responsible for losses in a FINRA arbitration claim. If you suffered losses investing in CNL Growth Properties and would like a free consultation with a securities attorney, please call The White Law Group at (888) 637-5510.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.
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