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CARR REALTY CORPORATION CLOSES ON INTERNATIONAL SQUARE LAND PURCHASE

 WASHINGTON, Sept. 21 /PRNewswire/ -- Carr Realty Corporation (NYSE: CRE) announced today that it has closed on its contract to purchase the 2.5-acre parcel of land on which are located three of Carr Realty's properties, collectively referred to as International Square. The purchase price for the parcel is $69.5 million.
 Of the $69.5 million purchase price, $29.5 million was paid using proceeds of Carr Realty's recent initial public offering and a $40 million loan was secured from Northwestern Mutual Life for the balance. The Northwestern Mutual Life loan is a 10-year loan with an interest rate of 7.55 percent with payments of interest only for five years and amortization on a 25-year schedule during years six through 10.
 Carr Realty Corporation owns and operates a portfolio of Class A office buildings in the Washington metropolitan area. The company qualifies as a real estate investment trust under federal tax rules and is traded on the New York Stock Exchange.
 -0- 9/21/93
 /CONTACT: Karen L. Widmayer of Carr Realty Corporation, 202-624-1789/
 (CRE)


CO: Carr Realty Corporation ST: District of Columbia IN: SU:

DC-DS -- DC015 -- 4080 09/21/93 10:39 EDT
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Publication:PR Newswire
Date:Sep 21, 1993
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