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Written by 8:41 am Blog, Securities Fraud Articles

Recovery of TNP Strategic Retail Trust Losses

Have you suffered losses in TNP Strategic Retail Trust?  If so, the securities attorneys of The White Law Group may be able to help.

TNP Strategic Retail Trust, was declared effective by the SEC on August 7, 2009.  The REIT’s fundraising efforts have been lackluster compared with many other non-traded REITS (only $21 million was raised through the end of Q3 2010 according to REIT Wrecks).

TNP Strategic Retail Trust apparently used the limited money raised to acquire two retail properties the 170,000 square foot Waianae Mall, on the North Shore of Oahu, and the 94,574 square foot Moreno Valley Marketplace in Rancho Belago, California.

Reports further indicate that TNP Strategic Retail Trust suffered a net loss through the first 9 months of 2010, as well as having a negative operating cash flow during the same period.  This all raises significant questions regarding the viability of TNP Strategic Retail Trust going forward.

The White Law Group is investigating the liability that brokerage firms may have for recommending TNP Strategic Retail Trust.  Brokerage firms have a fiduciary duty to perform due diligence on any investment prior to offering it for sale to its clients.  Broker dealers also are obligated to ensure that any recommendation it makes is appropriate in light of the investor’s age, investment experience, net worth, and investment objectives.  Based on the information now known about TNP Strategic Retail Trust, it appears that the firm’s that recommended the REIT to its clients may have done so improperly.

The commissions offered by REITs like TNP Strategic Retail Trust to the brokerage firms that sell these investments is typically between 7-10%.  This commission is considerably higher than more traditional investments like stocks or mutual funds and generally explains the brokerage firms’ motivation in recommending these investments.

If you believe that you have suffered losses as a result of your investment in TNP Strategic Retail Trust, please call the securities attorneys of The White Law Group at 312/238-9650 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on The White Law Group, visit https://whitesecuritieslaw.com.

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