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SIZELER PROPERTY INVESTORS ACQUIRES WOODCLIFF APARTMENTS

 KENNER, La., June 3 /PRNewswire/ -- Sizeler Property Investors, Inc. (NYSE: SIZ), an equity real estate investment trust (REIT), which invests in income-producing shopping center and apartment properties in the southern United States, announced today that it has completed the purchase of the Woodcliff Apartments, in Pensacola, Fla., for $4.6 million.
 Constructed on a 9-acre site, Woodcliff Apartments consists of 11 two-story buildings and one recreation building. There are 184 one- and two-bedroom, garden-style units. The units are large, averaging 789 square feet each, with a per unit acquisition cost of $25,000. The property contains a swimming pool, tennis courts, and other amenities.
 Sizeler Property Investors, Inc. owns two enclosed regional shopping malls, one "power" shopping center, 10 community shopping centers, and 10 apartment communities. The acquisition of Woodcliff Apartments brings the total number of apartment units owned by Sizeler Property Investors, Inc. to 2,297. The Woodcliff Apartment community is in excellent condition and needs no capital improvements.
 Sizeler Property Investors, Inc.'s common stock (SIZ) and 8 percent Convertible Subordinated Debentures, due in 2003 (SIZ 03) are traded on the New York Stock Exchange.
 -0- 6/3/93
 /CONTACT: John J. Gilluly Jr., vice president/treasurer of Sizeler Property Investors, 504-466-5363 or, home, 504-833-4773/
 (SIZ)


CO: Sizeler Property Investors, Inc. ST: Louisiana, Florida IN: SU: RLE

BR-RA -- AT010 -- 4938 06/03/93 11:27 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
Words:228
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