Unfortunately, the only way to sell your REIT is privately or through an auction through one of several companies making a secondary market in your REIT. Investors looking to sell or liquidate their Wells REITs might want to investigate the following companies who are offering a secondary market for non-traded REITs:
•· REIT Secondary Exchange
•· Pacific Partnership Group
•· Mackenzie Patterson Fuller LP
•· Central Trade and Transfer
•· Lapis Advisors LP
Please note that the Law Offices of Robert Wayne Pearce, P.A. does not recommend or endorse any of the aforementioned information exchanges. Investors are urged to do their own homework before initiating any business. If you cannot locate these companies, please call our office so that we can provide you with their contact information at no charge.
The primary cause of the increased number of telephone calls to our office over the last five years is many elderly and retired investors have been steered into non-traded REITs as yields on other income producing investments have steadily declined. According to many investors, the REITS were recommended as safe, secure, and steady income producing investments which sounded to be exactly what many seniors wanted and needed. When any Wells REIT investor calls our office, we will make a customer specific suitability determination after we learn the "essential facts" concerning that investor. We will ask, just as their stockbroker should have asked, about their age, investment experience, time horizon liquidity needs (length of time they could hold the investment without need for the principal), risk tolerance, other holdings, and financial situation in terms of liquid total net worth, tax status and investment objectives. All of these factors are relevant to suitability determination, and most weigh against the ownership of REIT investments by elderly retired investors. If we believe a brokerage firm or its representatives made an unsuitable recommendation that any person invest in a non-traded REIT, we recommend that they file a FINRA arbitration claim and attempt to recover their losses!
Have you suffered losses resulting from an investment in Wells Real Estate Investment Trust? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is actively investigating and accepting clients with valid claims against stockbrokers who misrepresented and sold Wells Real Estate Investment Trusts to investors.
The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 30 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at email@example.com for answers to any of your questions about this blog post and/or any related matter.