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ANGELES SUBSIDIARY NAMES REINMUTH TO HEAD NEW KANSAS CITY OPERATIONS OFFICE; ACQUIRES TWO MIDWEST RETIREMENT PROPERTIES

ANGELES SUBSIDIARY NAMES REINMUTH TO HEAD NEW KANSAS CITY OPERATIONS
 OFFICE; ACQUIRES TWO MIDWEST RETIREMENT PROPERTIES
 LOS ANGELES, July 27 /PRNewswire/ -- Angeles Housing Concepts Inc. (AHC), a wholly owned subsidiary of Angeles Corp. (AMEX: ANG), has announced the promotion of Craig Reinmuth to executive vice president and head of the company's new operations office in Kansas City, Mo.
 Reinmuth, who joined AHC in 1988, now will serve as the company's chief operating officer. From his centralized Kansas City location, he will handle operations for a portfolio of 15 congregate and assisted living senior housing facilities located in eight states.
 Also, AHC announced the recent acquisition of two retirement properties in Missouri and Kansas. The 120-unit Villa at Riverwood congregate-style property in Hazelwood, Mo., was acquired from McBride & Son in St. Louis. Overland Park Place, a 135-unit retirement center in Overland Park, Kan., was purchased from Shawnee Mission Health Care, a sister corporation of Shawnee Mission Medical Center.
 Financing for the two acquisitions was provided by a Paine Webber Properties Inc. real estate investment trust.
 Angeles Corp. is a Los Angeles-based real estate investment management company with approximately $1.5 billion of assets under management.
 -0- 7/27/92
 /CONTACT: Steve Leach of Angeles Corp., 800-421-4374 ext. 598, or 213-284-3598/
 (ANG) CO: Angeles Housing Concepts Inc.; Angeles Corp. ST: California, Missouri IN: SU: PER RLE


JB-KJ -- LA020 -- 3570 07/27/92 13:47 EDT
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Publication:PR Newswire
Date:Jul 27, 1992
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