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CROCKER REALTY INVESTORS CLOSES ON FOUNTAIN SQUARE AND $10.8 MILLION GENERAL ELECTRIC LOAN

 BOCA RATON, Fla., Oct. 15 /PRNewswire/ -- Crocker Realty Investors, Inc. (NASDAQ: CRKR) today closed on its second acquisition, purchasing Fountain Square, a 150,000-square-foot, two-building office complex in Boca Raton, Fla., for $10.8 million. The company also announced the closing of a $10.8 million loan from General Electric Credit Corporation.
 Funds from the General Electric loan will go toward the acquisition of Fountain Square as well as tenant improvements and leasing commissions at that property and Crocker Financial Plaza, Crocker Realty Investors' initial acquisition. Crocker Financial Plaza is an 80,000-square-foot office building also in western Boca Raton.
 Approximately 64 percent leased, Fountain Square is home to national credit tenants including IDS/American Express, The Gap and Rollins Burdick Hunter of Florida.
 Crocker Realty Investors will consider investments in joint ventures, partnerships, other REITS or real estate companies.
 -0- 10/15/93
 /CONTACT: Suzy Turpel of Smith & Knibbs, 407-833-2723, for Crocker Realty Investors/
 (CRKR)


CO: Crocker Realty Investors, Inc.; General Electric Credit Corporation ST: Florida IN: SU: TNM

RK-JB -- FL010 -- 2778 10/15/93 13:32 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
Words:179
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