Moreover, we will do our best to keep you updated and manage expectations along the way. KALOS CAPITAL Lawsuit Filed - Securities Lawyer Bankrupt hotel chain Eagle Hospitality Real Estate Investment Trust alleged in a court filing that two of its big investors received $2.4 million in federal coronavirus aid on behalf of its Queen . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We are a nationwide litigation law firm that represents individuals and entities who have been the victims of negligence, fraud or the misconduct of powerful interests. The loan was modified to include a new repayment schedule and waive any default from a bankruptcy filing. Eerily reminiscent of AFIN, VEREIT, and ARC NYC REIT, HIT REIT has experienced the same dramatic decrease in share prices for investors. We have a national team of attorneys and staff who look forward to speaking with you. TRevPOBs was $37.76 in FY 2022, compared to $35.13 in FY 2021, a 7.5% increase. Moreover, many illiquid REITs cannot be freely sold in the marketplace. This may be years after you have made your investment. As of December 31, 2019, it was listed at $8.35 per share, a 9.3% decrease from the 2018 NAV. Brookfield hotel REIT sues insurers for denying pandemic claims Based on law firm verdicts and settlements exceeding $4 billion, our securities fraud lawyers are committed to seeking justice for the victims of investment fraud and misconduct. Our firms investigation has revealed that some brokers and financial advisors allegedly sold the HIT REIT as a conservative, safe, asset backed, or moderate risk investment. Shares were originally sold to most investors at $25 a share. The bankruptcy court must enter a confirmation order no later than June 23, 2021. Did your Advisor Recommend a Hospitality REIT? Shareholders of the common stock will receive one CVR in exchange for each share of common stock. Contact our firm to learn more about your options. Brokers, financial advisors, and brokerage firms who recommended HIT REIT knew or should have known of the risks and issues; brokers should never have sold HIT REIT to investors. More than 12 pubs, restaurants or bars shut EVERY DAY last year Thousands of investors who were sold HIT have suffered severe losses. Thus, the securities law firm of Peiffer Wolf has begun another investigation into any and all brokers and advisors who recommended HIT REIT to investors. Unlike other reality companies, an REIT does not develop land to resell the land, but instead seeks to operate the prosperities as an investment. For more information, please read our full disclaimer. There are two types of REITs: publicly traded and non-traded. Hospitality Investors Trust (HIT) REIT Files Bankruptcy - Investor Alert This means that investors could have suffered over 95% losses on their investment, or even worse.