Search found 22 matches

by losemoneynow
Tue Nov 13, 2012 9:12 am
Forum: Cole REITs
Topic: Cole Launches Daily NAV REIT
Replies: 1
Views: 10330

Re: Cole Launches Daily NAV REIT

Epic Fail

No properties acquired in this program for 2012. I guess fee for service advisors are a little more discriminating than their compadres that hawk NTLs in search of big fees. How long can Cole afford to keep feeding the overhead associated with this program? :roll:
by losemoneynow
Mon Aug 27, 2012 3:39 pm
Forum: Cole REITs
Topic: Cole Credit Property Trust I Update
Replies: 0
Views: 8610

Cole Credit Property Trust I Update

The board of CCPT has urged shareholders to reject a $4.65 tender offer for 600,000 shares. The offer essentially represents a chance for shareholders to redeem some shares at roughly 1x book value. Given that the average remaining lease term of this portfolio is now less than 8 years and Rite Aid r...
by losemoneynow
Fri Apr 20, 2012 10:58 am
Forum: American Realty Capital REITs
Topic: Daily NAV Offering Going Nowhere
Replies: 0
Views: 10032

Daily NAV Offering Going Nowhere

Nontraded REIT sponsors see the writing on the wall as FINRA and the SEC continue to scrutinize the performance of the industry. The easy retail money chasing yield might not flow through the front door so quickly if investments have to be shown net of fees on the monthly statements. Thus, grandma a...
by losemoneynow
Wed Mar 07, 2012 10:30 am
Forum: American Realty Capital REITs
Topic: open letter to "REITWRECKS" Concerning ARCT
Replies: 23
Views: 59262

Re: open letter to "REITWRECKS" Concerning ARCT

I can tell RW is busy with other things in his life, because if he had time to dig into this situation, he would see there is limited cause for celebration for ARCT shareholders. The tender offer is a scam to keep the price of this stock inflated long enough to earn the incentive fee. Without this s...
by losemoneynow
Fri Dec 16, 2011 2:21 pm
Forum: Cole REITs
Topic: Cole Launches Daily NAV REIT
Replies: 1
Views: 10330

Cole Launches Daily NAV REIT

According to the latest SEC filings, a similar product to the the Cole Daily NAV REIT was launched by ARC and has failed to raise capital. While it is very early in the process, the big question many of us are asking is: Will advisors held to a fiduciary standard of care actually recommend this prod...
by losemoneynow
Tue Dec 13, 2011 11:21 am
Forum: General Non-Traded REIT Questions & Discussions
Topic: SEC Weighs in on MFFO
Replies: 0
Views: 3407

SEC Weighs in on MFFO

Nontraded REITs love to tout their dividend coverage using MFFO. If they had to use FFO to calculate dividend coverage none of these pathetic programs would be covering their dividend. Of course investors should know this, even if they are too lazy to read the public filings on the REITs in which th...
by losemoneynow
Wed Sep 14, 2011 4:28 pm
Forum: American Realty Capital REITs
Topic: Value Destruction Across the Board
Replies: 3
Views: 12997

Re: Value Destruction Across the Board

Stmonica, Determining which nontraded reit might be safer or better than another is a very arduous excercise. What astonishes me about the enormous sum of money that has been raised in this industry is that the investor is getting his/her advice from the salesman. In this case the salesman (financia...
by losemoneynow
Wed Sep 14, 2011 10:54 am
Forum: Cole REITs
Topic: Cole REIT Has Dividend Problems
Replies: 26
Views: 74794

Re: Cole REIT Has Dividend Problems

The following is copied directly from the the most recent Cole REIT III 10Q, as filed with the SEC: ============================================ During the six months ended June 30, 2011 and 2010, respectively, we paid distributions of $87.8 million and $41.7 million, including $49.6 million and $24...
by losemoneynow
Tue Sep 13, 2011 1:34 pm
Forum: Cole REITs
Topic: Cole REIT Has Dividend Problems
Replies: 26
Views: 74794

Re: Cole REIT Has Dividend Problems

Azut, Watching you gloat all over this website is irritating. None of your investments have gone full cycle so perhaps you should wait and see what your returns are in the final analysis. Cole REIT III is not covering its dividend fully from cash flow from the properties. Read the 10Qs and Ks. As an...
by losemoneynow
Tue Sep 13, 2011 10:17 am
Forum: American Realty Capital REITs
Topic: Value Destruction Across the Board
Replies: 3
Views: 12997

Value Destruction Across the Board

http://www.costar.com/News/Article/Gramercy-Giving-Up-Keys-on-900-Bank-Properties-to-KBS/131907" onclick="window.open(this.href);return false; The above link calls to mind the origins of this chain of value destruction when Gramercy acquired AFR, formerly run by Nick Schorsch, for what was deemed at...