Michael has over 20 years of experience representing individual and small business plaintiffs against the world’s large financial institutions, including Visa, Mastercard, and Chase.
Our firm is investigating possible legal claims on behalf of investors in Northstar Healthcare Income REIT.
Northstar Healthcare, a non-traded real estate investment trust (REIT), conducted its initial offering in 2013 at a price of $10.20. By December of 2018, the REIT had declined more than 30%. Then, in February of 2019, the REIT suspended its distributions and caused many investors to lose vital monthly investment income. Following this news, Northstar Healthcare’s price further declined.
Speak with one of our securities attorneys about recovering your losses.
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Northstar Healthcare Income News: Colony Northstar REIT Suspends Income Distributions
Northstar Healthcare Income is a non-traded real estate investment trust (REIT) sponsored by Colony Capital, Inc. Beginning in 2013, many financial advisors recommended Northstar Healthcare Income to their clients; misrepresenting the REIT as safe and a good source of income.
After steep decline of the investment, however, Northstar Healthcare announced an indefinite suspension of its monthly distribution payments to shareholders. Many shareholders have not received distributions from Northstar Healthcare since February of 2019. In a letter explaining the suspension of these distributions, the company stated
As we laid out in our letter in December, NorthStar Healthcare’s portfolio has been experiencing operational and performance challenges that led to a lower estimated value per share of NorthStar Healthcare’s common stock as of June 30, 2018 as compared to June 30, 2017.
While REITs are often marketed as low-risk, high yield investments, FINRA and the SEC have recently increased scrutiny into the marketing of these investments. Non-traded REITs are not traded on the public securities exchange, meaning that these REITs can often be illiquid. Many investors have reported being unable to redeem their shares from non-traded REITs and remain stuck in these uncertain investments as a result.
If you invested in Northstar Healthcare and have lost part of your investment, not received your distributions, or remain stuck in the uncertain REIT, you may be eligible for monetary recovery. Contact our firm to learn more about your options.
Our REIT Lawsuit Investigations
Gibbs Law Group is currently investigating a number of REITs on behalf of shareholders. These REITs include:
- Hospitality Investors Trust
- Benefit Street Partners Realty Trust
- FS Credit Real Estate Income Trust–I
- The Parking REIT
- Cole Credit Property Trust III (“CCPT III”)
- Apple non-traded REIT
If you invested in any of these REITs, or others, we may be able to help. Speak with a lawyer today to learn more.
Our Securities Lawyers Have a Winning Record Against the World's Largest Companies Like Northstar Healthcare
Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.
You “shouldn’t presume that powerful banks and other powerful interests can just get away with doing bad things. Good, qualified counsel that are committed to a cause can usually figure out how to prosecute such cases effectively and prevail.”
–Eric Gibbs, award-winning securities attorney
Praise from the Courts
Federal judge in our AT&T class action:
“I’ve always found them to be extraordinary counsel in terms of their preparation and their professionalism.”
Federal judge in our Chase lawsuit (resulting in $100 million settlement):
They “fought tooth and nail, down to the wire” to achieve “the best settlement that they could under the circumstances.”
Read more about what judges say about us.
Our Featured Securities Attorneys
Eileen is involved in the firm’s securities practice and has over a decade of experience in the legal world. She received her law degree from American University in 2005.
David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.
Amanda is spearheading a securities lawsuit against NantHealth concerning fraudulent statements to investors about the success of its key product.
Gibbs Law Group’s financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.
Our Financial Fraud Experience
We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).
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