Investors accuse Nicholas Schorsch of plundering RCAP for own gain Unsecured creditors claim one-time REIT czar and his partners siphoned revenue from RCAP to enrich themselves, leaving shareholders in the lurch March 10, 2017 | by Bruce Kelly | InvestmentNews A group of investors has accused Nicholas Schorsch, the former nontraded REIT czar, and his partners of…

The New CEFs on the Block But you can only take your money out step by step. March 9, 2017 | by Cara Esser, CFA and Jason Kephart | Morningstar PIMCO made headlines last month when it launched an interval fund (PIMCO Flexible Credit Income) and registered to raise $1 billion in assets. The last closed-end fund,…

Specialty REITs Eating More of the Pie A new wave of specialty REITs is outpacing the slowing growth of the larger sectors. March 3, 2017 | by David Dent | Commercial Property Executive The REIT market has traditionally focused growth on the major commercial property types, which have performed especially well during the long recovery…

Hotel REITs Could Suffer from Oversupply March 3, 2017 | by Amey Stone | Barron's With demand for hotel rooms expected to be flat this year while supply surges, the real estate investment trusts that invest in hotels could suffer, finds CFRA analyst Ken Leon in a new report. He lowered its view on hotel real…

Nontraded REIT and BDC Sales Weaken in February 2017 March 13, 2017 | by James Sprow | Blue Vault Equity capital raised by open nontraded REIT programs in February 2017, appear to have fallen 15% from January 2017, according to sales figures reported to Blue Vault by REIT sponsors. For the 26 effective nontraded REITs…

Healthcare Trust Reduces Distribution Rate March 10, 2017 | by James Sprow | Blue Vault On March 3, 2017, the board of directors of Healthcare Trust, Inc., a nontraded REIT sponsored by AR Global, authorized a decrease in the rate at which the Company pays monthly distributions to holders of the Company’s common stock, effective…

Summit Healthcare REIT, Inc. Acquires Interest in Two Skilled Nursing Facilities March 10, 2017 | by James Sprow | Blue Vault Summit Healthcare REIT, Inc. (“Summit” or the “REIT”) announced March 7 that it has acquired an interest in two skilled nursing facilities located in the Northeast on February 28, 2017. The facilities, acquired for a total purchase price of $27.0 million, consist of a total of 318 licensed beds, and will be operated by and leased to the existing operator. The acquisitions were made through Summit Fantasia Holdings II, LLC, a joint venture between Summit Healthcare Operating Partnership, LP (“Summit OP”), which is wholly owned by the REIT and Fantasia Investment III LLC (“Fantasia”), a U.S. based affiliate of Fantasia Holdings Group Co., Limited. Summit OP has previously partnered with Fantasia in a prior acquisition. “In this competitive market, we were pleased to find an opportunity that is a good fit for Summit,” said Kent Eikanas, President and Chief Operating Officer. “This is an exciting time for the REIT as we continue our expansion and diversification throughout the United States.” Summit is a publicly registered non­traded REIT that is currently focused on investing in senior housing real estate located throughout the United States. The current portfolio includes interests in 31 long­term triple­net leased healthcare facilities in 11 states. With the acquisitions, the REIT’s total bed count for its properties will exceed 2,500.  Over half of the…

Unemployment Rates Lower in February, Participation Up March 10, 2017 | by James Sprow | Blue Vault The jobless rate in February was 4.7%, the Labor Department says, moving down from January and matching economists' expectations. A broader measure of unemployment known as the U-5, which includes discouraged workers not actively seeking employment and others…

Resource's Finkel Talks Housing Capitalizing on multifamily units may be a good alternative to stocks and bonds. March 3, 2017 | by Dawn Reiss | U.S. News & World Report As investors search for alternatives that can help diversify their stock and bond-laden portfolios, some are turning the real estate market. If you're not into flipping houses,…