Cole Credit Property Trust III

From May, 2010 article:

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The Townsend Group, which counsels 23 of the 50 largest public pension funds in the country, reported Friday that the investment — a Cole subsidiary known as Cole Credit Property Trust III — charges a “punitive fee structure,” has many “material conflicts” and uses “disturbing trends” in its business practices. Overall, Cole’s up-front fees totaled 13 percent, or almost $400,000. Put another way, Townsend wrote, “an investor contributes $1 on Day One, which is immediately worth $.87.”

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I need ammo against this REIT on why it sucks

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Be more specific. I know the investment very well. What is your situation and I will give you the scoop. It has some big benefits, specifically it has something like a 7% dividend, but like any investment it also has its risks. For instance liquidity. Cole can at anytime decide not to redeem its shares. I tend to shy away from the private REITS b/c you can get nearly the same benefit from publicaly traded ones.