Are you worried about losing on your investment in First Capital Real Estate Trust Inc.? Have you invested in First Capital Real Estate Inc. and lost? If yes, then InvestmentFraudLawyers.com may just be in the best position to help. You can file a FINRA Dispute Resolution claim against the brokerage firm that you purchased the investment from.
First Capital Real Estate Trust Inc. was established in 2012, and it is a public non-traded REIT-based located in York City. According to reports, the company has neither filed its year-end nor its quarterly financial reports since 2015.
As we reported in October 2016, the REIT announced that it had plans to suspend monthly distributions to cover cash reserves at the end of 2016. This same period, Investment News reported the failure of First Capital Real Estate Trust Inc. to pay its employees at the right time.
On May 30, 2017, the REIT stated in its report that more than one indirect subsidiaries had filed a voluntary petition at the United States Bankruptcy Court for the Eastern District of California. These indirect subsidiaries are Capitol Station Holding, LLC with 100% ownership interest of operating partnership at First Capital Real Estate, Township Nine Owner, LLC with 31.3%, Capitol Station 65, LLC with 100%, and Capitol Station Member, LLC with 100%
As of July 19, 2019, the Chief Financial Officer of First Capital, Jeffrey Zomback’s resignation became effective.
The Risks of Non-Traded REITs Similar to First Capital Real Estate Trust Inc.
Non-traded REITs are not as simple or straightforward as traditional investments like bonds and stocks are. REITs are riskier, and unfortunately, a lot of investors do not know about the liquidity problems and risks that come with REITs like First Capital Real Estate Trust Inc. Haselkorn & Thibaut has represented a lot of investors in FINRA who have filed claims against the brokerage firm that advised its investors to invest in non-traded REITs.
It is a requirement for broker-dealers to carry out due diligence before they can recommend any investment to their investors. They have to make sure all of their recommendations are good enough for their investors. They should make recommendations based on the net worth, age, investment experience, and risk tolerance of their investors. If brokerage firms fail to let investors know the risks of their investment recommendations, they will be held liable for any loss that arises.
If you are an investor in First Capital Real Estate Trust Inc., you should speak to a securities attorney about your loss and how you can recover before time runs out. The Haselkorn & Thibaut is a national law firm that specializes in investor protection, securities arbitration, securities compliance/regulation, and securities fraud. Contact Haselkorn & Thibaut at 1-800-856-3352.