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.