If you invested in KBS Growth & Income REIT, you may be able to recover your investment losses depending on the facts of your case. On February 13, 2023, this non-traded real estate investment trust, which is believed to have raised approximately $95mm in common stock proceeds during its offering period from 2015 to 2019, reportedly submitted a preliminary proxy statement that included a liquidation plan.
Recommendations to Recover Investment Losses
KBS Growth & Income REIT’s board of directors is now recommending that shareholders approve this plan. As of September 30, 2022, this REIT estimated net asset value (NAV) was $1.16/share. It reportedly defaulted on a mortgage obtained by a portfolio office property in Portland in December 2022.
What Are KBS Growth & Income REITs?
KBS REITS are complex, illiquid, and high risk. They are typically only suitable for investors with a high-risk tolerance level. There is growing concern that there are financial advisors who may have neglected to fully apprise their clients of the high risks associated with KBS REITs. Unfortunately, the high commissions that brokers can earn from these investments often cause them to place their interest before their client’s interests and recommend KBS REIT investments.
What Should Investors Do?
Individual investors impacted may have purchased KBS Growth and Income, KBS Real Estate Investment Trust II, and KBS Real Estate Investment Trust III. If you suffered losses related to the negligence of your financial advisor, we would be happy to set up a free consultation in order to assess your potential claim. Contact us to discuss your legal rights and potential options to recover losses. The Schwartz Law Firm represents investors in claims against third parties, including financial advisors. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-618-0545 or email Matthew Schwartz directly at [email protected].