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TRINET COMPLETES SUCCESSFUL INITIAL PUBLIC OFFERING

 SAN FRANCISCO, June 3 /PRNewswire/ -- TriNet Corporate Realty Trust Inc. (NYSE: TRI) has successfully completed and closed its initial public offering of 5.16 million shares priced at $24.25 per share. Managing underwriter for the transaction was Merrill Lynch & Co. Concurrently, a $50 million securitized debt offering, rated "AA" by both Standard & Poor's and Duff and Phelps, was placed with Nomura Securities International Inc.
 TriNet is a real estate investment trust whose business is acquiring, owning and managing essential corporate real estate including central distribution facilities and corporate headquarters. The company's investment portfolio includes 61 properties leased long-term to companies in 18 states.
 "TriNet is structured to continue the growth we enjoyed as a private company. In addition to the funds raised today, we have obtained a commitment for a $50 million credit facility from Bankers Trust Co. to complete new acquisitions," said Rob Holman, chief executive officer and co-chairman of the board.
 "New acquisition opportunities are currently very impressive and we anticipate that these acquisitions will translate directly into dividend growth," said Holman.
 TriNet expects to make quarterly distributions beginning June 30, 1993, with the first dividend reflecting earnings for the month of June. The dividends for the first full year of operations are expected to be approximately $2.19 per share.
 "TriNet's conservative capital structure, combined with escalating contractual lease payments from our corporate tenants, provides a predictable and increasing source of cash flow," added Holman.
 TriNet's management and affiliates purchased additional shares in the offering and currently own approximately 15 percent of the outstanding shares.
 -0- 6/3/93
 /CONTACT: Mark S. Whiting, president and chief operating officer of TriNet, 415-391-4300/
 (TRI)


CO: TriNet Corporate Realty Trust Inc. ST: California IN: SU: OFR

TM-KL -- SF011 -- 5068 06/03/93 14:29 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
Words:296
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