Securities Arbitration Lawyer Blog
Iorio Altamirano LLP, a nationally recognized securities arbitration law firm, is investigating Baker Tilly Capital, LLC, for its role in selling private placement Qualified Opportunity Zone (QOZ) funds, including Block 216 QOF, LLC. This investigation focuses on potential misconduct related to the sale of these high-risk investments to retail investors, particularly in light of recent reports indicating that Block 216, a prominent skyscraper project in Portland, Oregon, featuring the Ritz Carlton Oregon, may be facing foreclosure.
Block 216: A Struggling Opportunity Zone Investment
Block 216, a mixed-use skyscraper in Portland, OR, was marketed as a flagship Opportunity Zone project designed to deliver significant tax benefits and returns to investors through the Block 216 QOF, LLC fund. However, recent developments suggest the project is struggling financially, with reports pointing to a potential foreclosure. This news raises serious questions about the viability of the investment and the due diligence conducted by Baker Tilly Capital, LLC, before it was recommended to investors.
Qualified Opportunity Zone funds, like Block 216 QOF, LLC, are private placement offerings intended to spur economic development in distressed areas while offering investors tax deferrals and potential gain exclusions. These investments come with substantial risks, including limited liquidity, long lock-up periods, and economic uncertainties tied to underdeveloped regions. The looming foreclosure threat to Block 216 underscores these risks and highlights potential issues with how the investment was vetted and sold.
Baker Tilly’s Claims Under Scrutiny
In the offering materials for Block 216 QOF, LLC, Baker Tilly Capital, LLC emphasized its “specialization in Opportunity Zone real estate investments” and “unique qualifications” as a trusted advisor. The firm also touted a “rigorous independent due diligence” process, suggesting that investors could rely on their expertise to mitigate risks. Yet, the current financial distress of Block 216 calls into question whether this due diligence was as thorough as promised—or if material risks were inadequately disclosed to investors.
As securities arbitration attorneys, we at Iorio Altamirano LLP are concerned that Baker Tilly Capital, LLC may have failed to meet its obligations under securities laws. Broker-dealers and investment advisors are required to conduct reasonable due diligence on private placement offerings and ensure recommendations are suitable for their clients. If Baker Tilly misrepresented the stability of Block 216 QOF, LLC or overlooked red flags during its vetting process, investors who suffered losses may have grounds to recover their funds through FINRA arbitration claims.
Why Investors Should Act Now
The potential foreclosure of Block 216 is a red flag for anyone who invested in this Opportunity Zone fund through Baker Tilly Capital, LLC. Private placements like Block 216 QOF, LLC are illiquid and complex, often marketed to high-net-worth individuals seeking tax advantages. However, when projects falter, investors can face significant financial losses—losses that might have been avoided with proper disclosure and oversight.
Iorio Altamirano LLP is actively investigating whether Baker Tilly Capital, LLC:
- Failed to conduct adequate due diligence on Block 216 QOF, LLC.
- Misrepresented the risks or overstated the potential returns of the investment.
- Recommended the fund to investors for whom it was unsuitable, violating FINRA’s suitability rules.
If you invested in Block 216 QOF, LLC, or other Opportunity Zone funds sold by Baker Tilly Capital, LLC, you may be entitled to pursue a securities arbitration claim to recover your losses. Our firm has a proven track record of helping investors nationwide recover millions in damages caused by broker misconduct, with over 20 years of combined experience in FINRA arbitration cases.
Contact Iorio Altamirano LLP for a Free Consultation
If you suffered financial losses in Block 216 QOF, LLC, or any other Qualified Opportunity Zone fund sold by Baker Tilly Capital, LLC, we urge you to contact Iorio Altamirano LLP immediately. We offer free, confidential consultations to review your investment account and assess your legal options. Our securities arbitration lawyers work on a contingency fee basis—meaning you pay no legal fees unless we recover compensation for you.
Call us toll-free at (855) 430-4010 or email us at august@ia-law.com or jorge@ia-law.com to speak with attorneys August Iorio or Jorge Altamirano. Time is critical in securities arbitration cases, as statutes of limitations may apply. Don’t wait to protect your rights.
About Iorio Altamirano LLP
Iorio Altamirano LLP is a leading securities arbitration law firm based in New York, NY, representing investors across the United States. We specialize in recovering investment losses caused by broker negligence, fraud, or unsuitable recommendations. Our bilingual team (fluent in English and Spanish) is committed to holding financial firms accountable and securing justice for our clients.
For updates on our investigation into Baker Tilly Capital, LLC, and the Block 216 QOF, LLC fund, visit our website at www.iorioaltamirano.com. If you’ve been affected by this or similar Opportunity Zone investments, let us help you fight for the compensation you deserve.