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BANKRUPTCY COURT APPROVES CV REIT ACQUISITION OF CENTURY VILLAGE OF PEMBROKE PINES

 BANKRUPTCY COURT APPROVES CV REIT ACQUISITION
 OF CENTURY VILLAGE OF PEMBROKE PINES
 WEST PALM BEACH, Fla., July 20 /PRNewswire/ -- CV Reit, Inc. (NYSE: CVI), a real estate investment trust, announced today that the United States Bankruptcy Court has approved the previously announced proposal of the company to acquire the Century Village at Pembroke Pines, Florida project and certain other assets from subsidiaries of Cenvill Development Corp.
 Alvin Wilensky, president of CV Reit, said, "The transaction is expected to be closed shortly after the Order of the Court becomes final, which is anticipated to occur on July 27, 1992." Wilensky further stated that CV Reit has agreed to continue to provide Debtor in Possession financing in the interim period.
 -0- 7/20/92
 /CONTACT: Alvin Wilensky of CV Reit, Inc., 407-640-3155/
 (CVI) CO: CV Reit, Inc.; Century Village ST: Florida IN: FIN SU: TNM


KD-KW -- NY048 -- 0745 07/20/92 12:35 EDT
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Publication:PR Newswire
Date:Jul 20, 1992
Words:152
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