IRVINE, Calif., (February 11, 2010) - Thompson National Properties, LLC, has been engaged to provide comprehensive real estate consulting, appraisal and advisory services by a leading provider of communication services in the Kingdom of Saudi Arabia. The real estate portfolio is comprised of more than 1,500 parcels, with a reported book value of approximately $1.9 Billion Saudi Riyal (USD $500 million). TNP's team of highly experienced real estate professionals, along with its innovative approach to time sensitive problem-solving, secured TNP's position in a highly competitive bidding process.
"This is an exciting undertaking for our team. Given the current real estate environment and the associated scrutiny involved with choosing a solid partner, our engagement speaks volumes to our capabilities and the strength of our leadership team," said Anthony W. "Tony" Thompson, TNP's Chairman and CEO.
TNP will also formulate business plans that will delineate clear strategies to capitalize on the true potential of the assets. TNP will first identify, document and appraise the assets. TNP will then synthesize the information gathered, understand the strategic near- and long-term objectives of the client and apply its expertise to determine the highest and best use for the real estate assets. Asset classes include land, office, retail, warehouse and technical facility structures.
"This engagement launches Thompson National Properties squarely into the global real estate market. We are truly excited and well prepared to provide top notch service and thought leadership to our client," said Nasir Ali, Director, Middle East Region for the engagement.
Thompson National Properties, LLC provides real estate investment opportunities and asset management to high net worth domestic, foreign, individual and institutional investors. As of February 11, 2010, Thompson National Properties manages 125 properties comprising more than 16.5 million square feet of Class A and B office, retail and industrial properties in 31 states, all assembled since November 2008. For more information regarding Thompson National Properties, please visit www.tnpre.com.
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