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HEALTH EQUITY PROPERTIES' PUBLIC OFFERING EFFECTIVE

 HEALTH EQUITY PROPERTIES' PUBLIC OFFERING EFFECTIVE
 WINSTON-SALEM, N.C., April 21 /PRNewswire/ -- Health Equity


Properties Incorporated (NYSE: EQP) reported this morning that the Company's public offering of 3 million shares of the Company's common stock became effective on Monday, April 20, 1992. The offering will generate proceeds of $25.5 million and is scheduled to close on Monday, April 27, 1992. The net offering proceeds will be used to pay down approximately $15.9 million of bank indebtedness and for general corporate purposes, including the possible acquisition of healthcare facilities. Health Equity Properties is a real estate investment trust owning 75 long-term healthcare facilities in five states.
 The offering was underwritten by County NatWest Securities Limited (London), Kemper Securities Group, Inc., and Wheat First Butcher & Singer Capital Markets. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
 -0- 4/21/92
 /CONTACT: William G. Benton or Deborah S. Kecseti, Health Equity Properties Incorporated, 919-723-7580/
 (EQP) CO: Health Equity Properties Incorporated ST: North Carolina IN: HEA SU: OFR


JZ -- CH008 -- 0617 04/21/92 11:50 EDT
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Publication:PR Newswire
Date:Apr 21, 1992
Words:219
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