REIT Loss Law Firm

SmartStop Self Storage REIT Investors May Want To Explore Their Legal Options. Our Seasoned Non-Traded REIT Loss Law Firm Are Here To Help Determine Whether You Have Grounds For A Broker Fraud Case

Shepherd Smith Edwards and Kantas (investorlawyers.com) continue to investigate whether investors who have sustained losses in SmartStop Self Storage should be filing a claim for financial recovery against their broker-dealer that allegedly unsuitably recommended that they invest in this self-managed non-traded real estate investment trust (non-traded REIT).

Recently, SmartStop Self Storage announced to shareholders that it was suspending both its share redemption program and its distribution reinvestment plan  as it considered “alternatives for stockholder liquidity.” This is not the first time SmartStop has suspended its share redemption program.

Because of this, said the non-traded REIT, which is focused on self-storage assets, SmartStop Self Storage would not process any cued up or future redemption requests unless the share redemption program is started up again. Not only that, but distribution payments for November and mid-December would be paid in cash.

Meanwhile, secondary market Lodas Markets has SmartStop shares trading at $9.50/share. Its latest estimated NAV was $15.25/share. SmartStop’s Board of Directors sent a letter to shareholders earlier this year recommending that they ignore a tender offer made by CMG Partners.

In April 2022, SmartStop submitted a registration statement with the US Securities and Exchange Commission (SEC) for a proposed underwritten public offering, but the registration never went into effect.

Why Work With a Non-Traded REIT Loss Law Firm Regarding Any SmartStop REIT Losses?

Non-traded real estate investment trusts tend to be risky, complex, illiquid investments. Brokers and investment advisors should conduct the necessary due diligence to ensure suitability and viability before promoting them to investors.

Unfortunately, our skilled non-traded fraud attorneys have discovered that all too often there are financial advisors who will disregard investors’ best interests when marketing and selling alternative investments to them because of the high commissions and fees that can be earned from such transactions.

Not only that, but we have found that many investors were not fully apprised of the risks they agreed to and ended up being blindsided when a non-traded REIT failed or their shares lost a great deal of value.

It doesn’t help that it can be hard for the true value of this type of investment to be accurately determined to begin with, even for brokers and investment advisers. This can make it difficult to assess how well an investment could do in terms of generating returns.

It is important that you hire skilled non-traded REIT attorneys that know how to determine whether financial advisor fraud or negligence played a part in our portfolio losses whether because of unsuitability, misrepresentations and omissions, concentration, best interest violations, due diligence failures, breach of fiduciary duty, negligence, failure to supervise, and more.

Many of the clients we represent sustained losses in non-traded real estate investment trusts and other alternative investments. We know how to build a solid investment loss recovery claim and maximize an investor’s chances for full recovery in arbitration, mediation, or litigation.

Contact Our REIT Loss Law Firm Today:

Fill out this form or call (800) 259-9010.