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HALLWOOD REALTY PARTNERS ANNOUNCES FIRST QUARTER 1992 FINANCIAL INFORMATION

 HALLWOOD REALTY PARTNERS ANNOUNCES
 FIRST QUARTER 1992 FINANCIAL INFORMATION
 DALLAS, May 15 /PRNewswire/ -- Hallwood Realty Partners, L.P. (AMEX: HRY) (the partnership) announced today its financial results for the quarter ended March 31, 1992. The partnership had a net loss of $4,899,000 ($.56 per unit) for the first quarter of 1992, as compared to a net loss of $5,610,000 ($.64 per unit) for the same period in 1991. Included in the Partnership's net losses are net non-cash expenses (including depreciation and amortization, gain on property dispositions, and lease concessions) of $5,518,000 and $6,665,000 for three months ended March 31, 1992 and 1991, respectively.
 Revenues from property operations for the first three months of 1992 decreased $1,803,000, or 9.1 percent, as compared to the same period of 1991 due to a decrease in the number of properties that the partnership owned during each of the periods. During the first quarter of 1992, the partnership recorded gains totalling $1,500,000 for the disposition of Gwinnett Station and in connection with the rescission of the acquisition on Oct. 1, 1991 of the CECOM Building and certain mortgage notes.
 Expenses decreased $1,218,000, or 4.7 percent, in the first quarter of 1992, as compared to the comparable period of 1991 as the result of a decrease in property operating expenses of $569,000 and a decrease in interest expense of $721,000. These expenses decreased primarily from a reduction in the number of properties that the partnership owned during each of the periods.
 The following table sets forth comparative selective unaudited financial information for the Partnership for the three months ended March 31, 1992 and 1991:
 STATEMENTS OF OPERATIONS:
 (in thousands except per unit amounts)
 Three Months Ended
 March 31,
 1992 1991
 Total revenue $19,635 $20,142
 Net loss (4,899) (5,610)
 Net loss per unit (.56) (.64)
 Average units outstanding 8,662 8,662
 The partnership is engaged in the acquisition, ownership, operation and management of commercial office buildings and industrial real estate and other real estate related assets.
 -0- 5/15/92
 /CONTACT: Diane Coffman of Hallwood Realty Partners, 800-899-6589/
 (HRY) CO: Hallwood Realty Partners, L.P. ST: Texas IN: SU: ERN


KD -- NY112 -- 1009 05/15/92 17:56 EDT
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Publication:PR Newswire
Date:May 15, 1992
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