Craig McCann's Comment Letter in Support of NASAA's REIT Guidelines
Yesterday, Craig McCann, President of SLCG, submitted a comment letter in support of NASAA's proposed concentration limit for nontraded REITs. He also urged NASAA to find a mechanism for ensuring roll-up and advisory contract protections promised by Sponsors to investors as a condition for receiving registration permission are not summarily eliminated when capital raises end and investors truly need these protections. Read Dr. McCann's comment letter.
More on the Sordid Tale of the Global Net Lease and ARC Global Trust II Merger
On August 11, 2016 we wrote about the recently announced merger of Global Net Lease, Inc. (GNL) and American Realty Capital Global Trust II (ARC Global Trust II). See Sacha Baron Cohen and Nicholas Schorsch - Masters of the House! ARC Global Trust II's 8-K announcing the merger (see the merger agreement).
Global Net Lease had been non-traded REIT ARC Global Trust Inc. but began trading on the NYSE under the ticker GNL on June 2, 2015. Read our full June 5, 2015 blog post on ARC Global Trust /...
Sacha Baron Cohen and Nicholas Schorsch - Masters of the House!
On Monday, Global Net Lease, Inc. (GNL) and American Realty Capital Global Trust II (ARC Global Trust II) announce a merger. Under the agreement, ARC Global Trust II shareholders will receive 2.27 shares of GNL for each share of ARC Global Trust II common stock they own, which implies $19.59 per each share of ARC Global Trust II share based on GNL's closing price as of August 5, 2016. See ARC Global Trust II's 8-K announcing the merger and merger agreement.
It's a sordid tale, worthy of a...
A Bad Broker Found His Firm; You Should Avoid Them Both
In June 2016, a FINRA panel in Albuquerque, NM ordered Centaurus Financial, Inc. to pay the Claimant, a recent widow when the subject conduct began, $150,000 plus all hearing fees after reasoned findings that "the investments Hashemian recommended while at Centaurus were not suitable", that Centaurus was responsible for Hashemian's actions which "constituted fraudulent and negligently made misrepresentation and omitted material information in the sale of investments" and that "Centaurus...