Psst! Wanna Lose More Money?

"Mini-tenders" being offered for real estate LPs are all too "mini"

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.

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