Thursday, January 17, 2013

InvestmentNews' Take On TNP

Here is the InvestmentNews article on TNP Strategic Retail Trust's filing yesterday.  The author, Bruce Kelly, hits on all points in filing.  The article has this passage:
Meanwhile, against nontraded-REIT industry norms, Mr. Thompson last week sent a notice to broker-dealers hawking the TNP Strategic Retail Trust. “Closing Feb. 7, 2013!” the note stated. “Necessity retail: Now is the time!”

The note to broker-dealers stated that the REIT's current net asset value was 6% higher that its share price. “As of Nov. 9, 2012, estimated NAV increased to $10.60. Shares continue to be offered at $10,” the note read. 

The notice referenced above is still being sent to broker / dealers, even after the filing. 

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