The Parking REIT, Inc. , a Maryland real estate investment trust announced suspension of cash distributions and stock dividends on March 23, 2018.
According to a press release issued by the company, the board is focused on preserving capital in order to maintain sufficient liquidity to continue to operate the business and maintain ability to service debt.
The Parking REIT (formerly MVP REIT II) is an unlisted, publicly traded REIT that invests primarily in parking lots and garages in the U.S. Assets include 44 parking facilities in 15 states.
Unlisted REITs are not traded on a national exchange and therefore are difficult, and sometimes impossible, to sell should an investor need liquidity.
Many investors were sold REITs with the promise of a steady and dependable income stream and now are faced with a reduction of income. For retirees on fixed income, this can present serious financial issues.
If the broker who recommended an investment in The Parking REIT misrepresented the risks associated with it or if the broker did not have reasonable basis to make such a recommendation, losses may be recoverable from the firm employing the broker. Call for a no charge consultation to discuss your options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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