Have you suffered investment losses in Argus Realty Investors TIC? The White Law Group may be able to help.
The White Law Group is investigating potential securities fraud claims on behalf of investors involving broker-dealers recommendations that investors purchase risky TIC (tenant-in-common) 1031 exchange investments, including Argus Realty Investors TIC. Investors may be able to recover these losses through FINRA arbitration.
A TIC investment is when a property is sold to multiple investors who then own fractional interests in the property as co-owners. The co-owners enjoy his/her share of the “pro rata” share of the net income (or expenses), appreciation, and share of the proceeds at the sale of the property. Tenants in common investors are not involved in the day to day management of the property but do retain certain other rights regarding the management of the property.
TIC (tenant-in-common) 1031 exchange investments typically pay a high commission, sometimes more than 10%, which in some cases may explain broker-dealers’ motivation to recommend clients to invest in TIC investments.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of TIC investment such as Argus Realty Investors TIC, please contact The White Law Group at 312-238-9650.
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 Boca Raton, Florida.
For more information on The White Law Group, please visit our website at http://whitesecuritieslaw.com.
Tags: 1031 ex, 1031 exchange, 1031 fraud, 1031 losses, Argus property losses, Argus Realty, Argus Realty class action, Argus Realty due diligence, argus realty fraud, argus realty investigation, Argus Realty Investments, Argus Realty Investments TIC, Argus Realty lawsuit, argus realty losses, argus realty TIC, broker fraud, broker misrepresentation, Chicago securities attorney, FINRA investigation, FINRA TIC, investment fraud, investment losses, securities arbitration, Securities Attorney, Securities Lawyer, tenants-in-common, Tenants-In-Common (TICs), tenants-in-common investments losses, The White Law Group, TIC fraud, TIC investements, TIC losses, TIC misrepresentation Last modified: July 17, 2015
I am a TIC investor in a $32 MM shopping center called Main Street Commons in St Charles Illinois. The project was capitalized with $24 MM of non-recourse debt (Wachovia) and $12MM of TIC money. Now it is on the skids and a special prosecutor has been appointed. The TIC Partners stand to lose everything because the project is estimated to be worth substantially less than the debt.
At present, the Partners are close to hiring a man by the name of Paul Gaines to negotiate a deal with the special prosecutor. I checked out Paul Gaines on Linkedin and found that he was previously “Chief Investment Officer at Argus Realty Investors.” Upon Googling Argus Realty, I came across your article at this site on Argus. Here are a couple of news items from the local press, describing the situation:
http://www.chicagorealestatedaily.com/article/20110706/CRED03/110709951
and
http://www.chicagorealestatedaily.com/article/20111003/CRED03/111009983/foreclosure-suit-hits-st-charles-shopping-center
Please e-mail me and let me know if the Gaines connection to Argus and his prospective retainer by my TIC Partners raises any concerns and if you feel you could be of help to us.
Thank you,
Edward Curtis
[email protected]