REIT Managers Accused Of $838M Self-Dealing Scheme By Activist Investor

An activist investor has launched a public campaign to force out the controlling interest in two real estate investment trusts, alleging management firm AR Global is engaging in widespread self-dealing.

New York-based Blackwells Capital accused AR Global of charging Global Net Lease and The Necessity Retail REIT exorbitant fees, driving down the two REITs’ stock value while enriching its leaders.