23 May 2018

Real Estate Maven Tony Thompson Falls On Hard Times

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Well-known real estate investor Tony Thompson is facing some bitter truths about the real estate holdings and note programs that he sold to investors.

But struggling with real estate deals isn't part of the upbeat and confident image that he likes to project.

In a recent ad in Southern California newspapers, he said: “Join Tony "the Truth' Thompson at one of his upcoming free seminars.”

The ad continues: “Tony wants you to know what he knows: Hear the truth about the economy, the politics of our banks' lack of lending ... the health of our commercial and residential real estate.”

The reality is, however, that Mr. Thompson's businesses have fallen on tough times. Properties in a real estate investment trust that he controls are in danger of default, and he has missed payments to investors in a private-note program that he used to raise capital for a business venture, Thompson National Properties LLC.

But just as Mr. Thompson is being swamped with debts, he also is attempting to prime the pump for sales of his nontraded real estate investment trust, TNP Strategic Retail Trust Inc. Meanwhile, the REIT is negotiating to change its adviser to Glenborough LLC.

To read more of this article click here.  

 

 

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