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HEALTH AND REHABILITATION PROPERTIES TRUST PURCHASE SIX MORTGAGE LOANS FOR $16 MILLION

 NEWTON, Mass., Sept. 27 /PRNewswire/ -- Health and Rehabilitation Properties Trust (NYSE: HRP) today announced that it has purchased six mortgage loans for about $16 million.
 The mortgages are secured by five nursing homes in California and one nursing home in Arizona with a combined total of 914 beds. The loans have combined principal due of approximately $18.2 million and HRP's purchase price was approximately 88 percent of par. All of these loans are performing and all have balloon maturities ranging from 1994 to 1997. Taking account of the current contract terms and the discounted purchase price, HRP expects these loans to yield approximately 11.5 percent through to their maturities.
 All of these loans were originated by Home Federal Savings Bank of San Diego. They were acquired from the Resolution Trust Corporation by a group of institutional investors as part of a package of several hundred million dollars of diverse loans after the RTC assumed control of Home Federal Savings Bank; these institutional investors have agreed to sell these six loans to HRP.
 HRP is a real estate investment trust which purchases and leases, or provides mortgage financing for, health care related real estate. Including the transaction announced today, HRP has approximately $460 million invested in 95 health care related real estate properties located in 21 states.
 -0- 9/27/93
 /CONTACT: David J. Hegarty, executive vice president of HRP, 617-332-3990/
 (HRP)


CO: Health and Rehabilitation Properties Trust; Home Federal Savings
 Bank ST: Massachusetts, California IN: HEA SU: RLE


DJ-CM -- NE008 -- 5827 09/27/93 09:38 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
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