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Learn more. Hines Global REIT Losses - The White Law Group Do you want Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. For the 2022 tax year, investors will receive afinal 2022 Grantor Letter for HGR Liquidating Trust expected to be mailed on or around March15th. make contact and resolve the problem, so the complaint never posts. Any investigation referenced on this website is independent and conducted by the Rosca Scarlato LLC law firm privately. This is where you can reach out with any questions concerning Hines Global Income Trust. If approved by the court, shareholders of record as of March 2, 2018, will receive a pro rata portion of the settlement. 8-K Agreement to Acquire Rookwood Commons and Rookwood Pavilion in Cincinnati, Ohio. This will reduce investors remaining investment in the Trust, adjusting the NAVto$1.29 per unit. ComplaintsBoard.com is a leading complaint resolution website on the Internet. Mackenzie Realty Capital extended a tender offer to investors to purchase shares of Hines Global REIT for just $1.50 per share last May. 2000 Auburn Drive Each unit holder will be provided aGrantor Letter which reports allocable share of all the various categories of income, gain, loss, deduction, and credit of the Liquidating Trust for the period January 1, 2022 December 7, 2022. Your comment will be reviewed and will be eligible for posting shortly. Since they are showing partnership income from Hines Global REIT Properties, LP, I suspect that HGR Liquidating Trust received passthrough income from Hines Global REIT Properties, LP on a K-1 form which is in turned passed through again to the shareholders who received the Grantor Trust letter. Hines Global REIT, Inc. (HGR) was anon-listed real estate investment trust (REIT) that owned and managed adiversified real estate portfolio in domestic and international markets. Hines Global Reit | TX | Read Reviews + Get a Free Estimate - BuildZoom The amounts can be entered as aTrust Schedule K1 and the business gain / Form 4797 section can be used for the Business Property Gain. Avg. As acourtesy, we have prepared these guides to answer questions posed by H&R Block with respect to the grantor letters unitholders received from the Trust, but unitholders are reminded that these guides are being provided solely for informational purposes and all unitholders are urged to consult with their own tax advisors. Edit profile, Upgrade to a WeCare profile to take control of your online reputation and drive HGR Liquidating Trust (formerly Hines Global REIT)Decreases NAV after Special Distribution Are you concerned about your investment HGR Liquidating Trust (Hines Global REIT) Investment Losses The White Law Group continues to investigate FINRA arbitration claims involving Hines Global REIT Investors may have claims. According to a filing with the Securities and Exchange Commission, stockholders filed the lawsuit in the Circuit Court of Maryland for Baltimore City alleging that Hines REIT, its advisor, and directors breached their fiduciary duties, caused the waste of corporate assets, and misappropriated corporate assets in connection with certain payments made in connection with the companys plan of liquidation. Brokerage firms and their financial advisors were eager to push REIT investments on their clients for the high commissions compared to other products. About this business profile; Suggest an edit; File to resolve a complaint against Hines REIT; Industry: Real Estate; The Trust disclaims any intention or obligation to update or revise any forward-looking statements, whether as aresult of new information or developments, future events or otherwise. JB8]zEW]aqw}{WqgG_?]A+i(+a`R Pr_]{~7,I>#*>K89TcjFl.fj87}q(^~xMQ)&J(cE&BJR] }NypV|(L\ww\,K)~(kj&dS.Hf\0; #u}^b} \DUfA@22VbFF\_],J-|%oN PeopleClaim is not Do you need Accrued Foreign Tax ReportingThis statement includes information referencing Accrued Foreign Tax Credit Information and relates to the Accrued Foreign Tax Credit Information (Table 1) and Foreign Country and Basket Breakout (Table 2) on the last page of your grantor letter. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, TN. Would you like The Board has determined to suspend the SRP, effective on February 2, 2019, except for the redemption requests related to the death or disability of the shareholder. this your business? If your version of H&R Block differs from these steps, you can use the search bar to search for specific forms in order to find the location to enter the amounts. This is a good news letter regarding your investment in Hines Global REIT. The amounts can be entered in the Trust Schedule K1 section, Sales and Transfers / Form 4797 section for the Business Property Gain, and Sales and Transfers / Other Investment property for the Partnership Transfer Gain. Hines Real Estate Investment Trust Inc., a publicly registered non-traded real estate investment trust, has agreed to pay approximately $3.3 million to settle a class action lawsuit that was filed in August 2016. Sadly they learned too late that there were no guarantees that distributions would be made. Mackenzie Realty Capital recently extended a tender offer to investors to purchase shares of Hines Global REIT for just. If you are a Hines REIT investor with the same complaints, we believe we can help you recover your REIT losses! And it involves the [] In accordance with the plan, HGR transferred its remaining assets and liabilities to HGR Liquidating Trust on June 30, 2020 and HGRs former stockholders were issued units of beneficial interest in HGR Liquidating Trust (the Trust). Many problematic REIT investments have been recommended and sold to investors by brokerage firms that pocketed substantial sales commissions, while the investors are now left holding the bag. Hines (D) was charged by the state for felony murder by using a charge of a firearm by a . Hines Global REIT originally purchased the 380,300-square-foot shopping mall in 2012 for $127 million. Hines Global Income Trust is non-traded, so if you are an individual investor, you need to go through aparticipating Financial Professional to invest in Hines Global Income Trust. He also acts as a private judge or arbitrator in mini-trials and arbitration proceedings, respectively. Undoubtedly, the Hines REIT and other REIT investments were recommended by your brokerage firm and financial advisor who have a fiduciary duty to not misrepresent or omit to state important. Some REIT investors have just learned that they would no longer be receiving distributions or that the distributions they actually received were derived from loans and not the true cash flow of the REIT. The company and the defendants recognize the burden, expense, and uncertainties inherent in further litigation, which has delayed the issuance of a final liquidating distribution to the stockholders and the completion of the wind up of the company, the company said. The guides provide numbered instructions for the relevant H&R Block questions. PeopleClaim Currently, the share repurchase program is only available for hardship cases, like the death or disability of a shareholder. And there's HGR Liquidating Trust has declared a special distribution of $0.80 per unit to be processed on or around September 29to unitholders of record as of September 29, 2021, according to the letter. Potential claims related to the Hines REIT include unsuitable recommendations, misrepresentation and overconcentration of investment funds. The winding down of the Liquidating Trust was completed and was dissolved as of December 7,2022. Unfortunately many investors were unaware of the risks and liquidity problems associated with non-traded REITs, when they were sold the investments. Individual tax situations may vary, please consult your tax advisor. Prior to making recommendations to an individual investor, brokerage firms are required by the Financial Industry Regulatory Authority (FINRA) to disclose all the risks of an investment. Paul Scarlato's office is in Philadelphia area and Alan Rosca's office is in the Cleveland, Ohio area, as detailed on their pages on this website. See Terms of Use This does not take into account previous distributions of $2.95 that were paid to shareholders. Thecompany and the trust made total special distributions, including returnofinvested capital distributions and liquidating distributions, of approximately$5.00 per share/unitbetween January 2018 and July 2020. One of the REITs whose investments may have been improperly recommended to some investors is Hines Global REIT. Hines GlobalREIT reportedly transferred its remaining assets and liabilities to the HGR Liquidating Trustin July 2020, according to SEC filings. Enter: none of these apply. These risks and uncertainties include, without limitation, unanticipated difficulties or expenditures relating to the liquidation and dissolution. To determine whether you may be able to recover investment losses incurred as a result of your purchase of Hines Global REIT or another Hines private placement investment, please contact The White Law Group at 1-888-637-5510 for a free consultation. Access my page Location & Hours 624 S Grand Ave Ste 2435 Los Angeles, CA 90017 Downtown Get directions No recommendation or advice is being given as to whether any investment is suitable for a particular investor. ThisNAV represents an approximate 10% decrease from the previous NAV per share of $6.17 determined as of February 14, 2019. HGR Liquidating Trust cannot and does not provide income tax advice or guidance. Submit a complaint and get your issue resolved. If you or a loved one are concerned about potentially unsuitable investment advice from a broker or financial advisor regarding Hines Global REIT, you are entitled to begin an arbitration process, backed by FINRA. This will reduce investors remaining investment in the Trust, adjusting the NAV. If you have invested in REITs, you may be concerned about your investments. to claim this profile and want to link it to your PeopleClaim account? As the last remaining property in its portfolio, the sale marks the completion of the liquidation. As stated above, while some REITs are suffering because of the current pandemic, others had preexisting issues, which preceded the pandemic. Higher ratings generally reflect a history of constructively responding to all complaints Hines REIT Agrees to Settle Class Action Lawsuit, Click here to subscribe to our Daily News Updates, Colony NorthStar Reaffirms Commitment to Retail Distribution, JLL Income Property Trust Increases Dividend, U.S. Supreme Court to Decide Legality of SEC In-House Enforcement, FS Investments and Portfolio Advisors Combine to Form $75 Billion Alternative Asset Manager, House Committee Passes Tax Legislation Related to Opportunity Zones. Unitholders of the Liquidating Trust are urged to consult with their tax advisors. March 13, 2018 Our records shows that you are not a owner of this profile. Hines Global REIT Liquidating Trust Sells Final Property, Issues with customers and resolve their problems. Hines Global Income Trust, Inc. was launched in 2013 to invest in a diversified portfolio of quality commercial real estate and other real estate investments throughout the United States and internationally. Brokerage firms that do not perform adequate due diligence on an investment and/or make unsuitable recommendations can be held accountable for investment losses through FINRA arbitration. International real estate investing risks include: the burden of complying with a wide variety of foreign laws and the uncertainty of such laws; the tax treatment of transaction structures; political and economic instability; foreign currency fluctuations; and inflation and governmental measures to curb inflatio. Hines launched its REIT last year with an . We also use third-party cookies that help us analyze and understand how you use this website. SEC Filings | Hines Global Income Trust If you are aFinancial Professional and would like to begin offering Hines Global Income Trust to your clients, please fill out the contact form below or give us acall to get started. Hines Interests Limited Partnership. This review was chosen algorithmically as the most valued customer feedback. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based. Its portfolio includes office, multifamily/living, retail, industrial real estate investments. % Respond, rebut, and resolve complaints. (312) 238-9650 | Fax (312) 238-8950 | (888) 637-5510 | 125 S. Wacker Drive, Suite 300, Chicago, Illinois 60606, Hines Global REIT/HGR Liquidating Trust * Liquidaton Update, HGR Liquidating Trust, Hines Global REIT, Letter to Investors, Hines Global REIT Tender Price $6.15 per share, Hines Global REIT Third Party Tender Offer $6.50/Share, Jonathan Walter Way, Wedbush Broker,Barred by FINRA, RandallSkrabonjaAllegedlyFired for Selling Away, SILA Realty Trusts Tenant files for Chapter 11. You also have the option to opt-out of these cookies. For more information on The White Law Group and its representation of investors, please visit our website at www.whitesecuritieslaw.com, Blog, Current Investigations, Securities Fraud Articles. Recommendations should be in line with the investors age, risk tolerance, net worth, and investment experience. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. On August 18, 2017, Hines Global REIT II, Inc. announced that its board of directors anticipates approving a tender offer on its Class A, Class T, and Class I shares on or around October 3, 2017. Hines REIT. Have you suffered losses investing in Hines Global REIT? recommendation is not a claim filing.

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