Americana Hotels and Realty announces fifth liquidating distribution of $2.00 per share.BOSTON--(BUSINESS WIRE)--May 28, 1996--Americana Hotels and Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Corp. (NYSE NYSE See: New York Stock Exchange :AHR AHR Aryl Hydrocarbon Receptor AHR American Historical Review (Journal of the American History Association) AHR Anchor AHR airway hyper-responsiveness AHR Assisted Human Reproduction AHR Air-Conditioning Heating Refrigeration ) today announced the payment of a fifth liquidating distribution of $2.00 per share, payable on June 18, 1996 to stockholders of record as of June 11, 1996. George H. Bigelow, president of the corporation, stated that, "the proceeds from the recent sale of the JFK Hilton Note made the distribution possible" and further, that, "with this distribution the corporation will have made total distributions of $14.75 per share under the Plan of Disposition of Assets and Liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy ." As with prior distributions, depending on individual stockholder basis, these payments may represent a return of capital for tax purposes. Bigelow also reported that the only remaining real estate asset is a hotel property in Palm Springs, Calif. The purchaser of that property continues to work with financing sources to complete the necessary funding to close the transaction. Americana Hotels and Realty Corp., is a real estate investment trust which is currently operating under a Plan of Disposition of Assets and Liquidation approved by stockholders in June of 1988. Its shares are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . CONTACT: Americana Hotels and Realty Corp. Morris W. Kellogg, 617/247-3358 |
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