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This blog is written by Robert H. Rex, Esq. who is a securities attorney and a passionate advocate for investors rights. With over 30 years of legal experience, 25 of which have dealt almost exclusively with the recovery of stockmarket and investment losses for mostly elderly clients, he and his... More
My company:
Rex Securities Law
My blog:
Rex Investment Loss Recovery Blog
  • RSL Investigates David Mills, Wells Fargo Broker--Dividend Capital REIT Sales 1 comment
    Jan 24, 2013 1:11 PM

    Rex Securities Law, a national securities arbitration & litigation firm located in Boca Raton, FL, is investigating David Paul Mills, a broker with Wells Fargo Advisors, LLC, in League City Texas, for a client who was sold a large position in Dividend Capital Total Realty Trust, a non traded REIT.

    In July of 2012, the company announced a change and the investment's name was changed to Dividend Capital Diversified Property Fund Class E. In addition to the name change, the company announced a share redemption plan purportedly to create liquidity for this otherwise illiquid investment. However, there are significant restrictions and limitations making it unlikely that Class E investors can redeem all their shares very quickly.

    Our client believes he was misled as to the nature of the risk and the liquidity issues of this investment. In addition, the amount invested in this REIT represented what appears to be an inordinately high percentage of the client's net worth, making it unsuitable.

    Dividend Capital Total Realty Trust was originally offered at about $10 per share in 2008. The company's currently published net asset value is about $6.70, however the lack of ability to freely trade the investment make its current fair market value less, perhaps far less.

    For more on non traded REITs see here.

    If you have information related to this investigation, please contact us.

    Rex Securities Law

    561 391 1900

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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  • really cheated
    , contributor
    Comments (2) | Send Message
     
    This was the worst investment I have ever been involved with. I got a real good screwing.
    28 Jan 2013, 08:10 AM Reply Like
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