Psst! Wanna Lose More Money?
Over the past decade, investors in real estate limited partnerships have suffered a kind of financial purgatory. Losses on their investments amount to many billions of dollars. Now, many of these hapless limited partners are being subjected to a further indignity: As they attempt to extricate themselves, they are falling prey to the blandishments of real estate firms that are systematically buying up these underwater partnerships at a fraction of their real value. In effect, the limited partners, many of whom are unaware of the real value of their investments, are losing out a second time. And it's all perfectly legal.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.