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 DALLAS, Nov. 17 /PRNewswire/ -- Capital Realty Group Senior Housing, Inc. ("Capital") announced today that it extended to 5 p.m., EST, on Friday, Dec. 3, its cash offer of $1 net per Unit ("Unit") evidencing ownership in Healthcare Properties, L.P. (the "Partnership"). Additionally, Capital has waived the condition that at least a majority of the Units be tendered and reduced the number of Units it offers to purchase from 80 percent to no more than 40 percent of the outstanding Units.
 The tender offer and withdrawal rights, first announced on Nov. 1, were due to expire at 5 p.m., EST, on Wednesday, Dec. 1, 1993. The original offer was to purchase up to 80 percent of the outstanding Units and conditioned upon at least a majority of the Units outstanding being validly tendered.
 Capital said that, as of the close of business on Nov. 15, 1993, 1,525 Units were tendered and of Investors contacted by Georgeson & Company, Capital's Information Agent, 166,916 Units plan to tender.
 According to Capital, the decision to reduce the number of Units it would purchase reflects its desire to balance the concerns of those investors who want liquidity with the concerns of those investors who do not wish their General Partner to own over 50 percent of the Partnership.
 The offer is part of Capital's previously announced plan to provide the Unit Holders with liquidity, encourage Capital to advance funds to the Partnership, and give the Unit Holders an opportunity to sell at least a substantial portion of their Units before the Partnership restructures certain leases and debt which restructuring might adversely affect the Partnership.
 Investors who have not tendered their Units and wish to do so must comply with the procedures for tendering Units set forth in the Offer to Purchase and related documents by 5 p.m. EST, on Friday, Dec. 3, 1993. Registered owners of Units may tender directly to Service Data Corporation, the Depositary.
 Investors who have already tendered Units do not need to take further action.
 Investors who have any questions about the Tender Offer or need further assistance in tendering, should call the Information Agent, Georgeson & Company, Inc., at the following Toll Free Number, 800-223-2064.
 -0- 11/17/93
 /CONTACT: Pam Crace of Senior Housing, 214-770-5600, or Maria Weisensee of Georgeson & Co., 212-440-9847/

CO: Capital Realty Group Senior Housing, Inc. ST: Texas IN: SU: OFR

LG-MP -- NY077 -- 5567 11/17/93 14:21 EST
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Publication:PR Newswire
Date:Nov 17, 1993
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