Berkshire Income Realty Sells and Issues Additional Shares of Class B Common Stock.BOSTON -- Berkshire Income Realty, Inc. (AMEX AMEX See: American Stock Exchange :BIR BIR British Institute of Radiology BIR Bureau of Internal Revenue BIR Bureau of International Recycling BIR Baculovirus IAP Repeat BIR Biomedical Imaging Resource BIR Bureau of Intelligence and Research (US State Department) _pa), (AMEX:BIRPRA), (AMEX:BIR.PR.A), (AMEX:BIR-A), (AMEX:BIR.A) (AMEX:BIR/PRA) (the "Company") announced today that it has sold and issued an aggregate 122,883 shares of its Class B Common Shares (the "Stock") for an aggregate purchase price of approximately $290,000, paid in cash at the time of the sale and issuance of the Stock. The Stock was sold and issued to a limited number of accredited investors pursuant to a transaction made in compliance with Rule 506 promulgated prom·ul·gate tr.v. prom·ul·gat·ed, prom·ul·gat·ing, prom·ul·gates 1. To make known (a decree, for example) by public declaration; announce officially. See Synonyms at announce. 2. under the Securities Act of 1933, as amended (the "Act"), and therefore exempt from the registration requirements of Section 5 of the Act. While the Stock is not publicly traded, the Company has outstanding shares of 9% Series A Cumulative Redeemable Preferred Stock that trade on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . The Company is a REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). whose objective is to acquire, operate, and rehabilitate multifamily apartment communities. The Company owns interests in twenty-three such multifamily apartment communities, of which eight are located in the Baltimore/Washington, D.C. metropolitan area, four are located in Virginia, three are located in Houston, Texas, two are located in Dallas, Texas, one is located in Austin, Texas, two are located in the Chicago, Illinois area, two are located in the Ft. Lauderdale, Florida area and one is located in Charlotte, North Carolina “Charlotte” redirects here. For other uses, see Charlotte (disambiguation). Charlotte is the largest city in the state of North Carolina and the 20th largest city in the United States. . This press release may contain "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, about the Company. These statements involve a number of risks and uncertainties that could materially affect future results. Among these risk factors are the ones listed in the Company's periodic reports filed with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2004 and Quarterly Report on Form 10-Q for the three months ended March 31, 2005. |
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