Peakstone Realty Trust (formerly Griffin Realty Trust, also formerly known as Griffin Capital Essential Asset REIT and Cole Office & Industrial REIT (CCIT II)) is an industrial and office-focused REIT which listed its shares on the NYSE on April 13, 2023. Shares of Peakstone (NYSE: PKST) reportedly opened at $8 per share on the first day of trading. The REIT traded as high as $68.94 in January 2022, and is currently trading at $14.31 as of May 6, 2024. Prior to its exchange listing, Peakstone Realty Trust announced a 1 for 9 reverse stock split on March 8, 2023, and estimated its Net Asset Value (NAV) at $66.87.
National investment loss lawyers KlaymanToskes is investigating brokerage firms and financial advisors who unsuitably recommended investments in Peakstone Realty Trust (formerly Griffin Realty Trust) (NYSE: PKST) to their customers. Recently, Peakstone Realty Trust has lost significant market value, and our law firm believes many investors may have been misled regarding the risks and liquidity issues associated with the REIT’s investment offering.
If your financial advisor recommended an unsuitable Real Estate Investment Trust (“REIT”) or Business Development Company (“BDC”) based on your investment profile, or disregarded your risk-tolerance when making investment recommendations, you may be entitled to a financial recovery through FINRA arbitration.
If you suffered losses in Peakstone Realty Trust, or any other investments due to unsuitable recommendations by your brokerage firm or financial advisor, contact securities attorney Steven D. Toskes to discuss your recovery options at (888) 997-9956 or investigations@klaymantoskes.com for a free and confidential consultation. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Peakstone Realty Trust is a high-risk alternative REIT investment. Many investors are not aware of the risks and liquidity problems associated with non-traded REITs. REITs are considerably more complex than traditional stocks and mutual funds, and involve a high degree of risk due to being illiquid.
In the “risk factors disclosure” of Peakstone’s 2023 annual report to investors, the REIT states that “We currently rely on five tenants for approximately a quarter of our revenue and adverse effects to their business, including a tenant’s bankruptcy or insolvency, a general downturn in a tenant’s business, a lease termination or election by a tenant not to renew, or other events affecting our tenants could have a material adverse effect on us.”
Financial professionals and their firms have a fiduciary duty to recommend suitable investments that are in their customer’s best interest. The brokers and financial advisors responsible for selling Peakstone Realty Trust REIT may be held responsible for any financial losses sustained by investors. Brokerage firms and financial advisors must consider their client’s risk tolerance prior to making recommendations, and cannot overconcentrate their customers’ accounts in any one investment product or market sector.
KlaymanToskes is a leading national securities fraud law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The article linked below contains important information relating to KlaymanToskes’ investigations of Peakstone Realty Trust REIT:
If you suffered losses in Peakstone Realty Trust REIT, or any other investments, contact securities attorney Steven D. Toskes to discuss your recovery options at (888) 997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million for investors (exclusive of attorneys fees and costs), and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
Potential conflicts of interest may arise when issuers incentivize brokers/investment advisors with substantial commissions to promote their financial products. A problem often associated with alternative investment recommendations, such as REITs and BDCs, is the high sales commissions brokers typically earn for selling these investments, which can be as high as 15%. A representative that recommends investments for the purpose of being compensated through increased commissions, and enriches themselves rather than benefiting the client, is violating securities laws.
To recover investment losses, you do not go through the traditional court system with a lawsuit. The only remedy is through a FINRA arbitration, a specific process designed for these types of disputes. This process involves presenting your case to a panel set by the Financial Industry Regulatory Authority (FINRA), not a courtroom. This approach is streamlined and focused on investment disputes, making it a suitable and effective way for investors to seek compensation for losses caused by financial advisors or brokerage firms.
FINRA (the Financial Industry Regulatory Authority) is a self-regulatory organization that oversees brokers and brokerages. In the event of a dispute between an investor and their financial advisor, investors can choose to file a FINRA arbitration claim. FINRA is overseen by the Securities and Exchange Commission (“SEC”).
The arbitration process is designed to be much faster than the court system and allows both parties to present their case before a panel of arbitrators. The arbitrators will then decide how to resolve the dispute, including ordering the advisor to pay damages for any losses suffered by the investor.
If you suffered losses in Peakstone Realty Trust REIT or other investment losses, you are encouraged to contact attorney Steven D. Toskes, at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
As an investor, there are signs that you should look out for if you believe you have a claim against your broker/advisor for unsuitable investment recommendations in Peakstone Realty Trust REIT. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you purchased Peakstone Realty Trust REIT, or any other unsuitable investments through your financial advisor/brokerage firm, and suffered significant losses, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.