Printer Friendly

REALTY SOUTH INVESTORS, INC. REPORTS RESULTS

 REALTY SOUTH INVESTORS, INC. REPORTS RESULTS
 ATLANTA, Feb. 18 /PRNewswire/ -- Realty South Investors, Inc.


(AMEX: RSI) reported today that the company incurred a net loss for 1991 of $5,675,891, compared with a net loss of $1,241,946 for 1990.
 The 1991 results reflected a provision for possible losses on real estate investments of $5,610,115 as compared with a loss provision of $1,800,000 in 1990.
 Arthur G. Weiss, who was elected as chairman of the board of directors and chief executive officer of the company in March 1991, stated that the company has taken a rigorous review of the company's real estate portfolio in order to position the company for a rebound from current economic conditions. In beginning to take steps to enhance stockholder values, Weiss announced that Realty South acquired a 50 percent interest in the 228-unit residential apartment community in Clearwater, Fla., on Dec. 31, 1991. The development, known as Post Court, will continue to be managed by Post Properties, Inc. of Atlanta, the premier residential apartment community developer and operator in the Southeast. The balance of the development is owned by principals of Post.
 Weiss announced that the board of directors, at its meeting today, approved the formaiton of an Advisory Group to consult with the company in its future endeavors. The following persons have accepted an appointment to the Advisory Group: John A. Williams, chairman, Post Properties, Inc. (apartment development and management); Daniel M. Dupree, president and CEO, New Market Development Co. (shopping center development and management); and Robert C. Goddard III, partner, Brannen/Goddard Co. (office and industrial properties).
 Weiss also announced that Robert P. Hunter Jr. has been appointed president of the company. Hunter was former senior vice president, general counsel and secretary of Cousins Properties Incorporated and has been active in community affairs. In making the announcement, Weiss said, "We are extremely pleased to have someone with Bob Hunter's experience and talents to join RSI's management team."
 -0- 2/18/92
 /CONTACT: Arthur G. Weiss of Realty South Investors, 404-240-4114/
 (RSI) CO: Realty South Investors, Inc. ST: Georgia IN: SU: ERN PER


BN-TG -- AT010 -- 0158 02/18/92 17:18 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 18, 1992
Words:364
Previous Article:ROHR ANNOUNCES ADDITIONAL DEVELOPMENTS IN GOVERNMENT INVESTIGATION
Next Article:MONTANA BOARD OF INVESTMENTS INTERCAP BONDS RATED 'A+/F-1+' BY FITCH -- FITCH FINANCIAL WIRE --
Topics:


Related Articles
REALTY SOUTH CLARIFIES REPORTED RESULTS
TRANSCONTINENTAL REALTY INVESTORS, ANNOUNCES RESULTS OF ANNUAL MEETING
CNL REALTY INVESTORS, INC. ANNOUNCES THIRD QUARTER RESULTS OF OPERATIONS
CROCKER REALTY INVESTORS CLOSES ON PURCHASE OF ARVIDA FINANCIAL PLAZA; ANNOUNCES TWO LEASES, RENOVATION PLANS
JP Realty, Inc. Adopts Stockholder Rights Plan And By-Law Amendments.
Tarragon Realty Investors Announces $45.5 Million Luxury Apartment Acquisition.
Tarragon Realty Investors Named to The FSB 100 (Fortune Small Business) List of America's Fastest-Growing Small Companies.
Tarragon Realty Investors Announces $104 Million Mortgage Financing.
Tarragon Realty Investors Will be Presenting at The Wall Street Analyst Forum.
Tarragon Realty Announces 3:2 Stock Split.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters