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CLINTON PLAN CARRIES GOOD NEWS FOR SOUTHERN CALIFORNIA REAL ESTATE, EXPERT SAYS

 LOS ANGELES, Feb. 18 /PRNewswire/ -- President Bill Clinton's State of the Union message brought good news for Southern California real estate, according to Steven Berlinger, managing partner in charge of risk management for Highridge Partners, an investment group headquartered in Los Angeles that acquires assets in which real estate provides the underlying value.
 "With its strong entrepreneur culture, Southern California stands to benefit greatly from the president's emphasis on formation of small businesses and job creation," Berlinger said. "Further, he also cited revitalization of the aerospace industry as a priority. Both of these actions will accelerate absorption of office and industrial space in Southern California."
 From a tax point of view, real estate investment also will be much more attractive under Clinton's program, Berlinger believes. "The greater spread between capital gains tax rates and ordinary income tax rates will encourage investors to re-examine real estate investments," said Berlinger, a certified public accountant who formerly was a senior partner with a major national accounting firm.
 "The spread between yields of Treasury bills and prime leased properties today -- almost 10 percent -- combined with the proposed tax hikes should stimulate real estate investment," he adds.
 "Moreover, if the president is successful in reducing the deficit, interest rates will remain low or fall even lower, making it easier to finance all forms of real estate," Berlinger concludes.
 Highridge Partners follows a rigorous technical approach that focuses on risk management and a contrarian economic perspective. Its investment portfolio includes direct ownership of properties, or purchase of mortgage notes or other similar financial instruments in which real estate is the underlying asset.
 -0- 2/18/93
 /CONTACT: Barbara Casey of Casey & Sayre, 310-458-1224, for Highridge Partners/


CO: Highridge Partners ST: California IN: FIN SU:

JB-KJ -- LA061 -- 8187 02/18/93 18:52 EST
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Publication:PR Newswire
Date:Feb 18, 1993
Words:297
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