TNP Strategic Retail Trust Announces Renewal of Advisory Agreement
IRVINE, Calif., Aug. 6, 2012 /PRNewswire/ -- TNP Strategic Retail Trust, Inc. (the "Company"), a public non-traded REIT that invests in grocery and drug-store anchored, multi-tenant necessity retail properties and other real estate-related assets, announced today that its independent board of directors has renewed the Company's advisory agreement with its external advisor, TNP Strategic Retail Advisor, LLC for one year to August 7, 2013. TNP Strategic Retail Advisor, LLC is a subsidiary of Thompson National Properties, LLC.
"As exclusive advisor for Strategic Retail Trust, Thompson National Properties is proud of the portfolio we have acquired, manage and lease on behalf of SRT," said Anthony W. "Tony" Thompson, chief executive officer of Thompson National Properties and the Company. "We look forward to continuing to add value to the portfolio on behalf of the Company's stockholders."
About TNP Strategic Retail Trust, Inc.
TNP Strategic Retail Trust, Inc. is a publicly registered non-traded REIT that invests in grocery and drug-store anchored, multi-tenant necessity retail properties, located primarily in the Western United States, and real estate related assets, including investment in or origination of mortgage, mezzanine, bridge and other loans related to commercial real estate. TNP Strategic Retail Trust has acquired 20 shopping centers in 14 states containing approximately 2.1 million square feet at an overall purchase price of more than $259 million since November 2009. For more information regarding TNP Strategic Retail Trust, please visit www.tnpsrt.com.
About Thompson National Properties, LLC
Thompson National Properties, LLC (TNP) is a real estate advisory company, specializing in the creation and management of real estate investment funds. TNP uses a variety of investment structures to fit the needs of its investors, which are designed for retail and high net worth individual investors. TNP is also involved heavily in both third-party property and asset management and receivership services, a key element in any successful commercial real estate investment in today's lender-driven marketplace.
Headquartered in Irvine, California, Thompson National Properties was founded in April 2008 and has four regional offices. As of August 6, 2012, Thompson National Properties manages a portfolio of 149 commercial properties, in 30 states, totaling approximately 17.4 million square feet, on behalf of over 5,600 investor/owners with an overall purchase value of $2.1 billion. For more information regarding Thompson National Properties, please visit www.tnpre.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
SOURCE TNP Strategic Retail Trust, Inc.