PRESS RELEASE! CNL Lifestyle Properties REIT Announces Significant Drop in Value
CNL Lifestyle Properties REIT Announces Significant Drop in Value
In a recent filing with the Securities and Exchange Commission (SEC), CNL Lifestyle Properties, a non-traded REIT or Real Estate Investment Trust, announced that the net asset value (NAV) of its shares dropped 24%. The NAV dropped from $6.85 in 2013 to $5.20 currently. CNL Lifestyle Properties had been valued at $7.31 at the end of 2012, representing a 28.8% drop between the end of 2012 and its current value.
The CNL Lifestyle Properties REIT’s NAV is falling at the same time that the NCREIF Property Index has posted consecutive positive quarterly increases since the first quarter of 2010. THE NCREIF Property Index measures the value of a broad market of illiquid private real estate investments.
CNL Lifestyle Properties initially sold its shares at $10 per share. CNL Lifestyle Properties was launched back in 2004. It has held properties in ski and mountain resorts, senior housing, and other lifestyle sectors.
Many financial advisors sold CNL Lifestyle Properties REIT shares to their customers. To the extent that the advisor misrepresented the risks of these shares to their customers, they could potentially be liable. Also, if the CNL Lifestyle Properties REIT shares were not suitable for the investor, considering the investor’s risk tolerance, investment objectives, age, net worth, etc., then the advisor might have liability for making unsuitable investment recommendations.
Our attorneys have represented over one thousand investors who have been defrauded by their financial advisor or stockbroker. While we have offices in Denver and the Seattle area, we have previously represented investors throughout the country. If you have lost money with CNL Lifestyle Properties at the recommendation of your financial advisor and want to hear about ALL legal options, please visit https://www.israelsneuman.com and go to our CONTACT page or call us at 720-599-3505.