Investigating Potential Losses involving Hartman REITs
Are you concerned about your investment losses in Hartman REITs? If so, The White Law Group may be able to help to recover your losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
According to Hartman’s website, “The cornerstone of our investment strategy is our advisor’s discipline in acquiring a portfolio of real estate properties that offer a blend of current and potential income based on in place occupancy plus relatively significant potential for growth in income and value from re-tenanting, repositioning and/or redevelopment. We refer to this strategy as “value add” or the “Hartman Advantage.”
Hartman XIX and Hartman Income REIT plan to merge with and into Hartman XX, with Hartman XX surviving the merger, according to a press announcement. In addition, Hartman Income REIT Operating Partnership LP will merge with and into Hartman XX Limited Partnership, the surviving entity. The REIT mergers require the approval of their respective stockholders.
Hartman REITs Merger Agreement
The Hartman XIX merger agreement states that each share of Hartman XIX common stock will automatically convert into the right to receive 9,171.98 shares of common stock of Hartman XX common stock.
Each share of 8 percent cumulative preferred stock of Hartman XIX will convert into the right to receive 1.238477 shares of Hartman XX common stock, and each share of 9 percent cumulative preferred stock will convert into the right to receive 1.238477 shares of Hartman XX common stock.
With respect to the Hartman Income REIT merger agreement, each share of Hartman Income REIT common stock will convert into the right to receive 0.752222 shares of Hartman XX common stock, and each share of subordinate Hartman Income REIT common stock will convert into the right to receive 0.752222 shares of Hartman XX common stock.
In connection with the partnership merger, each unit of limited partnership interest in Hartman Income REIT Operating Partnership will convert into the right to receive 0.752222 units of limited partnership interests in the Hartman XX Limited Partnership.
Non-Traded REITs are Risky
Compared to traditional investments, such as stocks, bonds and mutual funds, non-traded REITS, are considerably more complex and involve a high degree of risk. Unfortunately many investors were not made adequately aware of the risks and liquidity problems associated with REITs.
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Recommendations should be in line with the investor’s age, risk tolerance, net worth, and investment experience.
Broker dealers that fail to adequately disclose risks or make unsuitable investment recommendations can be held liable for investment losses.
The White Law Group is investigating potential securities fraud claims on behalf of investors involving the following Hartman REITs:
Hartman Short Term Income Properties XX Inc.
Hartman Income REIT Inc.
Hartman Short Term Income Properties XIX Inc.
Hartman XX Limited Partnership
If you have lost money in Hartman REITs at the recommendation of your broker and would like to speak to a securities attorney about the potential to recover your investment losses, please call The White Law Group at 1-888-637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.
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