Cornerstone Healthcare REIT has changed its name to Sentio Healthcare Properties, Inc. The Healthcare REIT (or Sentio Healthcare Properties) is one of the Cornerstone REITs that appears most troubled. It appears that the value of the REIT may have declined substantially. Several non-traded REITs, like Cornerstone, have attempted name changes recently as they attempt to distance themselves from the negative news associated with the old name.
Brokerage firms have a fiduciary duty to perform due diligence on any investment and to insure that an investment is appropriate in light of the investor's age, investment experience, and investment objectives. Based on what is known about Cornerstone Healthcare REIT, it does not appear that brokerage firms will be able to demonstrate that they performed the necessary due diligence on this offering.
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