The White Law Group continues to investigate potential FINRA arbitration claims involving National Healthcare Properties, Inc. (formerly Healthcare Trust Inc.), particularly focusing on whether brokerage firms improperly recommended this non-traded healthcare REIT to retail investors.

Many investor complaints center on unsuitable recommendations, lack of liquidity disclosures, and significant losses tied to declining net asset value (NAV)—especially among retirees and income-focused investors.

Investment Losses? Contact us now for a free consultation!

New IPO Update (April 2026 Update)

In April 2026, National Healthcare Properties announced plans to go public through an initial public offering (IPO), seeking to list on the Nasdaq under the ticker symbol “NHP.”

The company planned to offer up to 38.5 million shares priced between $13.00 and $16.00 per share, targeting up to $616 million in proceeds and implying a valuation of approximately $1.1 billion.

National Healthcare Properties Inc. priced its IPO at $12 per share—below its expected range —and raised approximately $462 million, according to reports on April 22nd, 2026. The stock opened slightly lower at $11.56 and traded down early before recovering to close flat at the $12 offering price, suggesting muted investor demand in its Nasdaq debut. The pricing also implied a significantly lower valuation than prior estimates, reflecting both cautious market conditions and investor uncertainty about the company’s ongoing transition strategy.

For existing investors, the IPO results show substantial losses relative to prior valuations. Shares were originally sold at $25 (effectively $100 after a reverse stock split), and the company’s last reported NAV was $32.15 per share—making the $12 IPO price a steep discount of roughly 63% to NAV and 88% to the adjusted original offering price.

While the public listing creates a potential path to liquidity, legacy investors will need to wait about six months before their shares become tradable, leaving future performance dependent on the REIT’s ability to execute its senior housing strategy and improve investor confidence.

 IPO proceeds typically go to the company—not directly to existing shareholders—meaning:

• Investors may still face losses
• Liquidity is not guaranteed immediately
• Market pricing after listing can be volatile

In many cases involving non-traded REITs, a public listing represents a transition event—not a recovery event.

Portfolio and Strategy Overview

As of December 31, 2025, National Healthcare Properties reported approximately $1.7 billion in total assets, including:

• 37 senior housing communities (3,615 units)
• 130 outpatient medical facilities (3.7 million square feet)
• Properties across 29 states

The company continues expanding, including a $64 million acquisition of 13 senior living communities in early 2026.

The REIT also utilizes a RIDEA (operating) structure, meaning it directly participates in property-level operating income rather than relying on traditional lease income. While this structure offers upside potential, it also introduces greater operational risk and income volatility.

See: Hospitality Investors Trust Inc. (HIT REIT) Files Chapter 11 Bankruptcy 

The Problem with the Reverse Stock Split

National Healthcare Properties previously executed a 4-for-1 reverse stock split following significant financial losses.

At the same time:

• NAV dropped to approximately $13 per share
• Shares were originally sold at $25 per share

Reverse stock splits do not increase the value of an investment. Instead, they often:

• Signal financial stress
• Mask declining performance
• Reduce share count while maintaining overall loss

For many investors, this event coincided with continued erosion in secondary market value and limited liquidity options.

Investment Losses? Contact us now for a free consultation!

Ongoing Risks for Retail Investors

Despite the IPO announcement, investors still face familiar non-traded REIT risks:

• Declining or stagnant NAV
• Limited liquidity and redemption options
• Uncertain distributions
• Long holding periods
• Exposure to operational risks (especially with RIDEA structures)

Even after listing, share prices may fluctuate significantly and may not reflect original purchase values.

Why Investors Are Filing Claims

The White Law Group is investigating claims involving allegations that brokers:

• Recommended the investment as safe or income-producing
• Failed to disclose illiquidity risks
• Misrepresented the investment’s risk profile
• Recommended the REIT despite it being unsuitable for the investor’s financial situation

These issues are particularly concerning for retirees and conservative investors who needed liquidity and capital preservation.

FINRA Arbitration: Options for Recovery

Investors who suffered losses may be able to recover through FINRA arbitration, a process used to resolve disputes with brokerage firms.

Compared to class actions, FINRA arbitration may offer:

• Faster resolution
• Potentially higher individual recoveries
• A more direct path to holding brokerage firms accountable

Most securities law firms, including The White Law Group, handle these cases on a contingency fee basis, meaning no upfront legal fees.

FAQs

Does the IPO mean I will recover my losses?

Not necessarily. The IPO price range ($13–$16) is still well below the original $25 offering price, and market performance after listing is uncertain.

Is liquidity guaranteed after the IPO?

No. While listing on a public exchange may improve liquidity over time, share prices can fluctuate and selling at a favorable price is not guaranteed.

What is a reverse stock split and why is it a red flag?

A reverse stock split reduces the number of shares an investor owns while increasing the price per share proportionally. It does not increase the overall value of the investment. In many cases, reverse splits are associated with financial distress, declining performance, or attempts to make a stock appear more stable than it is. For non-traded REIT investors, reverse stock splits can also make an already illiquid investment harder to sell and may signal deeper underlying issues.

About The White Law Group

The White Law Group, LLC is a national securities fraud law firm focused on protecting investors and recovering losses caused by broker misconduct.

The firm has handled 800+ FINRA arbitration cases and represents investors nationwide in claims involving:

• Unsuitable investment recommendations
• Misrepresentation and omissions
• Illiquid alternative investments like non-traded REITs

If you suffered losses in National Healthcare Properties or were advised to invest in this REIT, you may have legal options.

Call 888-637-5510 for a free consultation.

The post National Healthcare Properties: Investor Lawsuits and Liquidation: 2026 Update appeared first on The White Law Group.

Investors researching former broker Joel Anthony Benanti (CRD #4210681) may encounter a number of regulatory disclosures, customer disputes, and a recent FINRA complaint. Understanding these events can help investors identify potential red flags and determine whether they may have grounds to recover investment losses.

FINRA Complaint Against Joel Benanti

According to a pending complaint filed by the Financial Industry Regulatory Authority (FINRA), Joel Benanti allegedly failed to provide information and documents requested during an investigation.

FINRA’s investigation focused on whether Benanti:

• Participated in undisclosed outside business activities (OBAs)
• Engaged in private securities transactions away from his member firm
• FINRA alleges that Benanti’s failure to comply with requests under FINRA Rule 8210 significantly impeded its investigation. Failure to cooperate with a FINRA investigation can result in significant sanctions, including a bar from the securities industry.

Employment and Registration History

Joel Benanti was registered with FINRA beginning in 2000 and worked at several brokerage firms throughout his career, including:

• Network 1 Financial Securities Inc. (2019–2024)
• Laidlaw & Company (UK) Ltd. (multiple periods)
• Worden Capital Management LLC
•  Joseph Stone Capital L.L.C.
•  Salomon Whitney Financial

Several firms associated with Benanti have faced regulatory scrutiny or expulsion by FINRA, which may be relevant for investors evaluating supervisory environments.

Customer Complaints and Arbitration History

Public records indicate that Joel Benanti has been the subject of multiple customer disputes, including allegations such as:

• Churning (excessive trading)
• Unsuitable investment recommendations
• Excessive commissions

Investment Losses? Contact us now for a free consultation!

FINRA BrokerCheck Disclosures:

• A 2011 arbitration award resulted in approximately $100,000 in damages to a customer
• A 2015 customer dispute alleging churning and unsuitability settled for $28,500
• Several additional disputes were settled or resolved over the course of his career

These types of allegations often involve claims that a broker placed trades primarily to generate commissions rather than to benefit the client.

Terminations and Employment-Related Allegations

Benanti’s record also includes employment separations following allegations:

Joseph Stone Capital (2017)

Discharged after allegations of making discretionary trades without written authorization
The firm requested supporting documentation (cell phone records), which were reportedly not provided

Salomon Whitney Financial (2016)

Permitted to resign amid allegations related to a $15,000 loan from the firm
The firm alleged the loan was accepted under false pretenses and not repaid
While brokers may dispute such allegations, these events are part of the public record and may be relevant to investors assessing risk.

What Are the Red Flags for Investors?

When reviewing a broker’s background, investors should pay attention to patterns such as:

• Multiple customer complaints or settlements
• Allegations of churning or unsuitable recommendations
• Regulatory investigations or failure to cooperate
• Frequent job changes or terminations for cause

A combination of these factors may indicate heightened risk.

Can Investors Recover Losses?

Investors who suffered losses while working with a broker may have options for recovery through FINRA arbitration, which is the primary forum for resolving disputes between investors and brokerage firms.

Claims may involve:

• Unsuitable investment recommendations
• Excessive trading (churning)
• Unauthorized trading
• Private securities transactions (“selling away”)

Speak With a Securities Fraud Attorney

If you invested with Joel Benanti or another broker and experienced losses, it may be worth having your account reviewed by an experienced securities fraud attorney.

The White Law Group represents investors nationwide in FINRA arbitration claims and can help determine whether misconduct may have contributed to your losses.

Frequently Asked Questions (FAQ)

What is FINRA Rule 8210?

FINRA Rule 8210 allows regulators to request documents and testimony from brokers during investigations. Failure to comply can result in serious disciplinary action.

What are outside business activities (OBAs)?

OBAs refer to business activities conducted outside of a broker’s firm. These must be disclosed to ensure transparency and protect investors.

What is “selling away”?

Selling away occurs when a broker sells investments not approved by their firm, often without proper oversight.

The post Joel Benanti Broker Investigation: FINRA Complaint, Disciplinary History, and Investor Concerns appeared first on The White Law Group.

Former Oregon-based financial advisor Jeffrey Thomas Higgins is facing a federal lawsuit, SEC charges, and a permanent industry bar by FINRA. The allegations involve a long-running scheme that reportedly caused significant investor losses. If you have suffered investment losses with Jeffrey Higgins, the securities attorneys at The White Law Group may be able to help you through FINRA arbitration.

Federal Lawsuit and $1.6 Million Fraud Allegations

Federal prosecutors have accused Higgins of orchestrating a 17-year investment fraud scheme that allegedly resulted in approximately $1.6 million in client losses.

According to both criminal charges and a parallel civil complaint filed by the Securities and Exchange Commission (SEC), Higgins allegedly:

• Diverted client funds into a sham investment program called “Cumulus”
• Promised investors he could purchase stocks at deep discounts—up to 91% below market value
• Sent fabricated account statements and annual reports to mislead clients about investment performance
• Misappropriated investor funds for his own use

The SEC alleges that, in reality, client holdings were worth significantly less than reported, and in some cases, securities were never purchased as promised.

Higgins has pleaded not guilty to the charges and is awaiting trial.

Investment Losses? Contact us now for a free consultation!

FINRA Bar for Failure to Cooperate

In addition to the lawsuit, the Financial Industry Regulatory Authority (FINRA) permanently barred Higgins from the securities industry in July 2024.

The bar was issued after Higgins:

• Refused to provide documents and information requested during a FINRA investigation
• Declined to appear for on-the-record testimony
• Was under investigation for potential misappropriation of client funds and selling away

Failing to cooperate with FINRA is itself a serious violation of industry rules and often results in a permanent bar.

Termination from Western International Securities

Higgins was most recently registered with Western International Securities, Inc. in Baker City, Oregon, from 2017 until June 2024.

According to regulatory filings (Form U5):

• He was terminated by the firm amid allegations of misdirecting and misappropriating client funds
• The conduct may have dated back to approximately 2007, during his time at a prior firm

Western International was later acquired as part of a broader transaction involving Atria Wealth Solutions and LPL Financial.

Employment History and Prior Firm Issues

Higgins spent a significant portion of his career with Financial West Group, where he was registered from 1997 to 2017. Financial West Group was expelled from the securities industry in 2020 by regulator.

Jeffrey Higgins Complaints and Settlements

According to publicly available records, Jeffrey Higgins has multiple customer complaints and investor disputes.

His BrokerCheck report reflects:

• 7 settled customer complaints, totaling nearly $2.3 million in payouts
• 3 pending disputes, seeking approximately $500,000 in additional damages
• Allegations including:
  • Unsuitable investment recommendations
  • Misrepresentations
  • Omissions of material facts

These complaints are a key indicator of potential misconduct and may suggest a pattern of behavior affecting multiple investors. See Types of Investment Fraud and Common Securities Violations.

What Investors Should Know

Cases involving allegations like those against Jeffrey Higgins often include:

• Selling away (offering investments outside the firm’s supervision)
• Misappropriation of funds
• False account statements
• Unsuitable or fraudulent investment strategies

Investors who suffered losses may have legal options, including filing a claim through FINRA arbitration, which is the primary forum for resolving disputes with brokerage firms.

Contact a Securities Fraud Attorney

If you invested with Jeffrey Higgins or Western International Securities and experienced losses, you may be eligible to pursue recovery.

The securities fraud attorneys at The White Law Group represent investors nationwide in FINRA arbitration claims involving:

• Broker fraud and misrepresentation
• Unauthorized trading
• Selling away and private securities transactions
• Unsuitable investment recommendations

For a free consultation, contact The White Law Group at (888) 637-5510.

Frequently Asked Questions

What are the allegations against Jeffrey Higgins?

Jeffrey Higgins has been accused by federal prosecutors and the SEC of running a long-term investment fraud scheme that allegedly caused approximately $1.6 million in investor losses. The allegations include misappropriating client funds, operating a sham investment program called “Cumulus,” and providing investors with false account statements showing inflated returns.

 How many complaints have been filed against Jeffrey Higgins?

According to his FINRA BrokerCheck record, Jeffrey Higgins has multiple customer complaints. Reports indicate that at least seven complaints have been settled for a combined total of nearly $2.3 million, with additional pending claims seeking further damages. These complaints involve allegations such as unsuitable investment recommendations, misrepresentations, and omissions of material facts.

Can investors recover losses from Jeffrey Higgins?

Yes, investors who suffered losses may be able to recover damages by filing a claim through FINRA arbitration. Brokerage firms have a duty to supervise their financial advisors, and investors may have claims against the firm for failing to prevent misconduct. A securities fraud attorney can evaluate potential claims and help investors pursue financial recovery.

The post Jeffrey Higgins Lawsuit, Complaints & FINRA Bar: What Investors Need to Know appeared first on The White Law Group.

Recent updates for InPoint Commercial Real Estate Income Inc. show continued declines that may concern investors.

As of March 31, 2026, the company reported a total net asset value (NAV) of approximately $136.6 million, representing:

• A 14.9% decline year-over-year
• A 3.1% drop from the prior month

The REIT had approximately 10.1 million shares outstanding, with NAV per share across all share classes declining by roughly 3% month-over-month.

This trend may signal ongoing pressure within the portfolio and broader commercial real estate market.

Declining NAV Per Share Across All Classes

As of March 2026, NAV per share decreased across all share classes:

• Class P: $13.4884 (down ~3.1%)
• Class A: $13.5351 (down ~3.1%)
• Class T: $13.6705 (down ~3.0%)
• Class D: $13.5645 (down ~3.1%)
• Class I: $13.5369 (down ~3.1%)

While these changes may seem modest month-to-month, the consistent downward trend may be a red flag for investors—especially those who originally purchased shares at $25 per share.

Portfolio Shrinking and Strategy Shifting

The company’s commercial mortgage loan portfolio declined to approximately $333.4 million, down from $350.9 million at the end of 2025.

The company reportedly did not originate new loans during 2025, only recently resuming lending in February 2026 with an $11.4 million loan.

Management has indicated it is considering a strategic repositioning, including:

• Selling foreclosed properties
• Reinvesting proceeds into new loans

Suspended Redemptions Remain a Key Concern

A major issue for investors is liquidity.

InPoint previously suspended its share repurchase plan and distribution reinvestment plan, and those programs remain suspended.

This means:

• Investors may be unable to sell shares back to the company
• Access to invested capital may be limited or delayed

For many retail investors, this lack of liquidity can be one of the most significant risks.

Secondary Market Losses May Be Significant

Although InPoint reports NAV in the $13–$14 range, secondary market activity suggests much lower pricing.

Shares have reportedly traded on platforms like LODAS Markets at around $7.50 per share, indicating:

• Potential substantial losses
• A disconnect between reported NAV and real-world pricing

Risks of Non-Traded REIT Investments

Non-traded REITs like InPoint can carry significant risks, including:

• Limited liquidity
• Suspended redemption programs
• High fees and commissions
• Lack of transparent pricing
• Sensitivity to commercial real estate conditions

These investments are often not suitable for conservative or income-focused investors, despite how they may have been marketed.

Can You Recover Losses from InPoint?

Investors who suffered losses in InPoint Commercial Real Estate Income Inc. may have legal options.

Brokerage firms have a duty to recommend investments that are suitable based on:

• Risk tolerance
• Investment objectives
• Financial situation

If a high-risk, illiquid non-traded REIT was recommended without proper disclosure, investors may be able to pursue claims through Financial Industry Regulatory Authority arbitration.

FINRA Arbitration vs. Class Actions

Many investors ask whether they should join a class action or file an individual claim.

In general:

• FINRA arbitration may be faster and more personalized
• Class actions typically involve larger groups with smaller losses

Investors with significant losses may benefit from exploring individual claims.

FAQs – InPoint Commercial Real Estate Income

1. Why is InPoint’s NAV declining?

Declines may reflect broader commercial real estate challenges, reduced loan activity, and asset valuation changes.

2. Can I sell my InPoint shares?

Possibly not. The company’s share repurchase program is currently suspended, limiting liquidity.

3. Are investors experiencing losses?

Yes. Declining NAV and discounted secondary market pricing suggest many investors are facing losses.

Speak with an Investment Loss Attorney

If you invested in InPoint Commercial Real Estate Income and are concerned about losses, you may want to explore your legal options.

The White Law Group represents investors nationwide in FINRA arbitration claims involving non-traded REITs and complex investments.

Call (888) 637-5510 for a free, no-obligation consultation.

The post InPoint Commercial Real Estate Income: Losses & Recovery Options for Investors appeared first on The White Law Group.

In April 2026, Blue Owl Capital Inc. reportedly announced a major real estate transaction: the acquisition of Sila Realty Trust Inc. in an all-cash deal valued at approximately $2.4 billion.

Sila shareholders are expected to receive $30.38 per share, representing:

• A 19% premium over the April 17, 2026 closing price
• A 25.6% premium to the 30-day volume-weighted average

The deal includes a portfolio of 137 healthcare properties across 65 U.S. markets, primarily structured as long-term triple-net leases.

What This Means for Investors

• Sila will transition from a public REIT to a private company
• Shares will be de-registered and no longer trade on the NYSE
• The deal is expected to close in Q2–Q3 2026, pending shareholder approval
• Investors may receive up to two additional dividend payments before closing
• There appears to be a continued institutional demand for income-generating healthcare real estate, often viewed as a defensive asset class.

Blue Owl Cancels OBDC–OBDC II Merger

Separately, Blue Owl Capital Corporation and its affiliate OBDC II have terminated their proposed merger, citing market conditions.

Key Takeaways:

• The stock-for-stock merger has been formally abandoned
• Both entities will continue operating independently
• Prior shareholder concerns led to supplemental disclosures, though no wrongdoing was admitted
• This reversal leaves investors facing ongoing uncertainty, particularly around liquidity and valuation.

Tender Offers at Discounts Raise Liquidity Concerns

In February 2026, firms including Saba Capital Management and Cox Capital Partners announced cash tender offers for several Blue Owl non-traded BDCs, including:

• OBDC II
• Blue Owl Technology Income Corp. (OTIC)
• Blue Owl Credit Income Corp. (OCIC)

Important Investor Considerations:

• Tender offers are expected at 20%–35% discounts to NAV
• Designed to provide liquidity where redemptions are limited or gated
• Reflect broader stress in the non-traded BDC market
• Discounted tender offers often signal limited exit options, especially in illiquid investments.

$1.4 Billion Loan Sale & 30% NAV Distribution

Blue Owl-affiliated BDCs also reportedly agreed to sell $1.4 billion in loan assets, with OBDC II accounting for approximately $600 million (34% of its portfolio).

Proceeds may fund a return-of-capital distribution of up to $2.35 per share, or roughly 30% of NAV.

However, some reports suggest:

• Certain funds may replace redemption programs with structured distributions
• Long-term liquidity could remain constrained
• Industry Risks: Non-Traded BDCs Under Pressure

According to industry reports, non-traded BDCs are facing headwinds from:

• Rising interest rates
• Increased borrower leverage
• Declining asset quality
• Reduced access to capital

Like non-traded REITs, these investments are often:

• Illiquid
• Complex
• Commission-heavy
• Sensitive to economic downturns

Risks of Blue Owl and Non-Traded BDC Investments

Investors should carefully evaluate:

• Loss of principal
• Liquidity restrictions and redemption gates
• NAV volatility
• High upfront fees and commissions
• Conflicts of interest
• Limited secondary market options
• Tender offers at steep discounts may underscore the true liquidity risk of these products.

Broker Responsibilities & Potential Liability

Financial advisors recommending alternative investments like Blue Owl BDCs must:

• Conduct reasonable due diligence
• Ensure recommendations are suitable for the investor
• Fully disclose risks, fees, and liquidity limitations
• Failure to meet these obligations may result in investor claims through FINRA arbitration.

Can Investors Recover Losses?

The White Law Group is investigating claims involving:

• Blue Owl Capital investments (OBDC, OBDC II, OTIC, OCIC)
• Illiquid non-traded BDCs
• Unsuitable investment recommendations
• Failure to disclose risks or redemption limits

If you experienced losses or are unable to access your funds, you may have options to pursue financial recovery through FINRA arbitration.

About The White Law Group

The White Law Group, LLC is a national securities arbitration law firm with offices in Chicago and Seattle. The firm has represented investors in 800+ FINRA arbitration cases nationwide.

Free consultation: 1-888-637-5510

Frequently Asked Questions (FAQs)

Why did Blue Owl cancel the merger?

The companies cited market conditions as the primary reason for terminating the OBDC–OBDC II merger.

What are the Saba and Cox tender offers?

They are third-party cash offers to purchase shares of non-traded BDCs at 20–35% below NAV, providing limited liquidity.

What is the 30% NAV distribution?

OBDC II may distribute up to $2.35 per share following asset sales, representing about 30% of its NAV.

Are Blue Owl investments risky?

Yes. These investments can involve illiquidity, valuation uncertainty, and high fees, especially in non-traded structures.

Can I recover my investment losses?

Possibly. Investors may pursue claims if their advisor misrepresented risks or made unsuitable recommendations.

The post Blue Owl Capital Investments & Sila Realty Trust Acquisition (2026): What Investors Need to Know appeared first on The White Law Group.