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G. SOROS REALTY ACQUIRES INTEREST IN SONNENBLICK-GOLDMAN

 NEW YORK, Jan. 3 /PRNewswire/ -- Sonnenblick-Goldman Company today announced that G. Soros Realty Inc., a real estate investment concern owned by George Soros, has made an investment in the firm.
 Terms of the transaction were not disclosed.
 New York-based Sonnenblick-Goldman, which marks its 100th year of operations in 1994, is a real estate investment bank specializing in the sale and financing of income-producing properties. In addition to G. Soros Realty, Sonnenblick-Goldman Company is now owned by its management, Robert M. Bass, David Bonderman and the principals of Interstate Properties, an entity whose managing partner is Steven Roth.
 "G. Soros Realty is one of the most active and perceptive investors in real estate today, and matches well with our other equity partners," said Jack Shaffer of Sonnenblick-Goldman.
 G. Soros Realty said it had taken the stake in Sonnenblick-Goldman, with its strong capabilities in identifying and structuring real estate equity and mortgage investments, as part of its real estate investment expansion strategy.
 "This new relationship broadens our range of contacts and increases our presence as a major participant in the North American real estate marketplace," said Evan M. Marks, president and chief executive of Soros Realty, Inc. "Sonnenblick-Goldman's record as a leading financial intermediary is unmatched in the real estate industry, and we are very enthusiastic about its position going forward as the market recovers."
 Sonnenblick-Goldman is renowned for its large worldwide client base, its huge volume of financing transactions and its success in arranging real estate sales. The firm recently handled the sales of The New York Helmsley Palace and Doral Telluride Hotels, Tanglewood Mall in Virginia and 1250 24th St. N.W. in Washington D.C. In addition to its New York headquarters, Sonnenblick-Goldman has offices in Los Angeles, Dallas, Denver, Miami and Washington, D.C.
 George Soros, the renowned global investor, has been actively investing in real estate during the past 18 months. Soros Realty, acting through Quantum North American Realty Trust, which was formed in March of 1993, recently acquired more than $750 million of properties from Travelers Insurance Company. Soros Realty has also purchased $500 million of distressed mortgage debt from the RTC, and acquired the Wycliffe Country Club near Palm Beach, Fla. Overseas, Mr. Soros is a major shareholder of IRSA, a publicly quoted real estate development company in Argentina, and in October of 1993, formed Quantum U.K. Realty Fund, which has acquired $135 million of properties in partnership with British Land PLC.
 -0- 1/3/94
 /CONTACT: Peter Rosenthal of Howard J. Rubenstein Associates, 212-489-6900/


CO: G. Soros Realty Inc.; Sonnenblick-Goldman Company ST: New York IN: FIN SU:

TW-PS -- NY029 -- 8476 01/03/94 11:24 EST
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Publication:PR Newswire
Date:Jan 3, 1994
Words:443
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