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MGI PROPERTIES ANNOUNCES RECEIPT OF FEE

 BOSTON, Jan. 29 /PRNewswire/ -- W. Pearce Coues, chairman of the board of trustees and chief executive officer of MGI Properties, ("MGI") (NYSE: MGI), an equity real estate investment trust announced today that the trust received a fee for agreeing to the assignment and amendment of a 50,000 square-foot lease at Yorkshire Plaza, Aurora, Ill. Income from this transaction of $1,030,000 or 11 cents per share, will be recognized in the first quarter of 1993. The space, formerly leased to Montgomery Ward, will be occupied by Burlington Coat Factory. In connection with this transaction, the trust also made a $700,000 prepayment of the first mortgage loan secured by the shopping center.
 -0- 1/29/93
 /CONTACT: Phillip C. Vitali, executive vice president and treasurer of MGI Properties, 617-330-5335/
 (MGI)


CO: MGI Properties ST: Massachusetts IN: SU:

TM -- NE010 -- 0867 01/29/93 15:32 EST
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Publication:PR Newswire
Date:Jan 29, 1993
Words:148
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