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IRT PROPERTY COMPANY TO ACQUIRE TWO PUBLIX-ANCHORED CENTERS IN FLORIDA

 ATLANTA, June 25 /PRNewswire/ -- IRT Property Company (NYSE: IRT), the southeastern shopping center REIT, today announced that it had entered into agreements to acquire two neighborhood shopping centers in Florida.
 Each of the centers is anchored with a Publix Supermarket. The centers are being 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.
 Seven Hills Shopping Center in Spring Hill, Fla., contains 64,890 square feet of retail space.
 Both acquisitions are expected to be completed by July 15.
 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. The portfolio of 87 investments includes more than 6.6 million square feet of retail space.
 -0- 6/25/93
 /CONTACT: Denton Williams, vice president of IRT Property Company, 404-955-4406/
 (IRT)


CO: IRT Property Company; The Sembler Company ST: Georgia, Florida IN: SU: RLE

BN-BR -- AT002 -- 5618 06/25/93 09:09 EDT
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Publication:PR Newswire
Date:Jun 25, 1993
Words:198
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