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IRT PROPERTY COMPANY ACQUIRES TWO PUBLIX-ANCHORED CENTERS IN FLORIDA

 ATLANTA, July 19 /PRNewswire/ -- IRT Property Company (NYSE: IRT), the southeastern shopping center REIT, today announced that it had acquired two neighborhood shopping centers in Florida.
 Each of the centers is anchored with a Publix Supermarket. The centers were acquired from partnerships controlled by The Sembler Company of St. Petersburg, Fla.
 Chelsea Place Shopping Center, located in New Port Richey, on the west coast of Florida, contains 81,144 square feet of retail space. The center is presently 98 percent leased. The total purchase price of the center was approximately $4,817,000.
 Seven Hills Shopping Center in Spring Hill, Fla., contains 64,890 square feet of retail space and was purchased for approximately $6,875,000.
 Both acquisitions were completed on July 15. These acquisitions increased IRT's portfolio to 68 shopping center investments which includes approximately 6.8 million square feet of retail space.
 A self-administered equity real estate investment trust (REIT), IRT specializes in southeastern United States shopping centers. Anchor tenants include Publix, Kroger, Harris Teeter, Wal-Mart, Kmart and other popular national and regional chain stores.
 -0- 7/19/93
 /CONTACT: Lee A. Harris, senior vice president of IRT Property, 404-955-4406/
 (IRT)


CO: IRT Property Company; Chelsea Place Shopping Center; Seven Hills
 Shopping Center; The Sembler Company ST: Georgia, Florida IN: SU: RLE


BN-RA -- AT015 -- 3079 07/19/93 13:05 EDT
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Publication:PR Newswire
Date:Jul 19, 1993
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