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ntREIT Update: 8/20/14

Wednesday, August 20th, 2014 and is filed under Non-Traded REIT Updates

CNL Growth Properties

Global Income Trust  

CNL Growth Properties and Global Income Trust have each named Thomas Sittema as their new CEO and president, effective September 1, 2014, replacing Andrew Hyltin. Mr. Hyltin will continue to play a key role at the sponsor company, CNL Financial Group, LLC.

The two companies have also named Tammy Tipton as the new CFO and treasurer, effective September 1, 2014, replacing Rosemary Mills.

For more information, please see the following documents:

CNL Growth 8-K Filing

Global Income Trust 8-K Filing


Monogram Residential Trust (f/k/a Behringer Harvard Multifamily REIT I)      

On August 12, 2014, Monogram Residential Trust approved a new estimated share valuation of $10.41, up from $10.03 announced in March 2013.  In addition, the board of directors is exploring listing the company’s common stock on a national securities exchange. In connection with the potential listing, the board has suspended both the DRIP and the share redemption plan.

Monogram Residential commenced its initial public offering in September 2008 and closed in September 2011. The company has raised approximately $1.5 billion through private and public offerings. Monogram Residential lowered its annual distribution from $0.60 to $0.35 in March 2012, where it remains currently.

For more information: CLICK HERE

ntREIT Update: 8/13/14

Thursday, August 14th, 2014 and is filed under Non-Traded REIT Updates

Inland American Real Estate Trust  

On August 12, 2014, Inland American Real Estate Trust announced plans to spin off its lodging subsidiary into a publicly traded company. The new REIT, to be called Xenia Hotels & Resorts Inc., will own 46 hotels in 19 states and the District of Columbia and a majority stake in two properties under development. Inland American shareholders will receive an undetermined number of shares of Xenia common stock.In light of these developments, the company’s board of directors, voted to suspend the DRIP until further notice. Although the board had planned to reinstate the share redemption program later this year, it will remain suspended at this time.As of March 31, 2014, Inland American owned 117 retail properties, 101 lodging properties, 14 student housing properties, and 40 non-core properties consisting of office, industrial, bank branches, retail single tenant properties, and conventional multi-family properties.

For more information, please see the following documents:

Press Release

8-K Filing

ntREIT Update: 8/6/2014

Wednesday, August 6th, 2014 and is filed under Non-Traded REIT Updates

Griffin-American Healthcare REIT II  

NorthStar Realty Finance Corp. (NYSE: NRF) will acquire Griffin-American Healthcare REIT II in a stock and cash transaction valued at $4 billion, or $11.50 per Griffin-American share.

Griffin-American Healthcare REIT II was effective in August 2009 as Grubb & Ellis Healthcare REIT II. The company closed to new investors in October 2013, having raised approximately $2.95 billion aggregate gross proceeds in two offerings.

NorthStar Realty Finance Corp. is a publicly-traded, diversified commercial real estate investment company that is organized as a REIT.  NorthStar Realty Finance Corp is also the sponsor of three non-traded REIT programs, NorthStar Real Estate Income Trust, NorthStar Real Estate Income II, and NorthStar Healthcare Income.

For more information: CLICK HERE

Summit Healthcare REIT (f/k/a Cornerstone Core Properties  


On July 31, 2014, Summit Healthcare REIT entered into indemnification agreements with Kent Eikanas, president and chief operating officer; Dominic Petrucci, interim chief financial officer; and Mr. Petrucci’s consulting firm, Kairos Partners.

The company is undergoing a strategic repositioning, selling its industrial assets and redeploying the proceeds into healthcare properties.  Summit Healthcare REIT reported an estimated per-share value of $2.09 as of December 31, 2013.

For more information: CLICK HERE

Russell Putnam, JD Joins FactRight as Due Diligence Analyst

Friday, August 1st, 2014 and is filed under Uncategorized

FactRight LLC, a risk management services firm serving the alternative investment industry, has expanded its due diligence team.  Russell Putnam, JD will provide due diligence expertise with a focus on offering program analysis.


August 1st – Eden Prairie, MN - FactRight LLC, a leading provider of risk management and third party due diligence services to the alternative investment industry, announced today that Russell Putnam has joined the company as a Due Diligence Analyst.

Putnam will perform due diligence and fundamental analysis on a variety of investment programs reviewed by FactRight for Broker/Dealers. His analysis and insight will be used to expand  FactRight’s comprehensive alternative investment product reports, and support industry-related research and education projects.

“Russell brings an impressive depth of knowledge and analytical ability to FactRight.”  said Scott Smith, President and CEO. “He will be a critical member of our offering analysis team.”

Prior to joining FactRight, Russell served as a document review attorney and a compliance consulting analyst.  Before earning his juris doctorate, Russell managed the acquisition due diligence process, collateral pooling and distribution process for the issuance of asset- and mortgage-backed securities.

Russell is a magna cum laude graduate from Hamline University School of Law and earned a bachelor’s degree in economics and political science from St. Olaf College.

About FactRight, LLC 
Founded in Minnesota in 2006, FactRight is an innovative service organization providing outsourced risk management and analytical due diligence to the alternative investment community. The FactRight team features highly credentialed professionals who specialize in complementary disciplines. Our staff includes licensed attorneys, certified public accountants, certified fraud examiners, internal auditors, chartered financial analysts, and former due diligence officers of financial services firms.

Our multidisciplinary approach enables us to fill in risk management and due diligence voids faced by many of our clients. By having a partner that proactively keeps pace with an ever-changing industry, independent broker dealers can be confident that they have the guidance they need to meet regulatory challenges.

Additional information, including details on our sister company, FR Risk Management LLC, can be found by visiting http://www.factright.com.

ntREIT Update: 7/30/14

Wednesday, July 30th, 2014 and is filed under Non-Traded REIT Updates

Landmark Apartment Trust (f/k/a Apartment Trust of America and Grubb & Ellis Apartment REIT)   

Landmark Apartment Trust of America has entered into new employment agreements with executive management, detailing compensation. The company has been self-managed since August 2012.

Between July 2006 and July 2011, Landmark Apartment Trust of America raised a total of $187.1 million through two offerings. Since August 2012, the company has entered into a series of agreements whereby institutional investors have contributed property and cash to the REIT in exchange for preferred ownership interests. As of March 31, 2014, Landmark Apartment Trust owned 79 consolidated properties.

For more information: CLICK HERE


Phillips Edison – ARC Shopping Center REIT   

Phillips Edison – ARC Shopping Center REIT has engaged Bank of America Merrill Lynch and RCS Capital, the investment banking and capital markets division of Realty Capital Securities, LLC, as financial advisors to advise the company in its evaluation of possible strategic alternatives.

Phillips Edison – ARC Shopping Center REIT was effective in August 2010 and ceased offering shares of common stock in the primary offering in February 2014. As of March 31, 2014, the company raised gross cash proceeds of $1.76 billion and owned 100 real estate properties.

For more information: CLICK HERE

ntREIT Update: 7/23/14

Wednesday, July 23rd, 2014 and is filed under Non-Traded REIT Updates

Tier REIT (f/k/a Behringer Harvard REIT)  

The board of directors of Tier REIT has added two new members, Richard I. Gilchrist and Scott W. Fordham, expanding the board to seven members.

Tier REIT raised approximately $2.9 billion in gross offering proceeds through three primary offerings from 2003 to 2008. The company has been self-managed since 2012.

For more information, please see the following documents:

Press Release

8-K Filing


Behringer Harvard Opportunity REIT I

On July 17, 2014, Robert S. Aisner, notified Behringer Harvard Opportunity REIT I that he has decided not to stand for re-election as a director.  Mr. Aisner will continue to serve as a director and chairman of the board until his successor is elected at the October 2014 annual meeting of stockholders.  His decision not to stand for re-election is not due to any disagreement with the company.

For more information: CLICK HERE


Strategic Realty Trust (f/k/a TNP Strategic Retail Trust)  

Strategic Realty Trust has established an estimated share value of $7.11.  The valuation was determined in consultation with the company’s advisor and Robert A. Stanger, a third party real estate appraisal and valuation firm.

In addition, Strategic Realty Trust has increased its distribution to $0.24 annualized, up from $0.20 annualized last quarter.

For more information, please see the following documents:

Letter to Shareholders

8-K Filing

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