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HEALTH AND REHABILITATION PROPERTIES TRUST ANNOUNCES WINNING BID ON PORTFOLIO OF PERFORMING NURSING HOME MORTGAGE LOANS

 NEWTON, Mass., Nov. 22 /PRNewswire/ -- Health and Rehabilitation Properties Trust (NYSE: HRP) today announced that it has been notified that it was selected as the winning bidder for a mortgage portfolio originated by the Goldome Credit Corporation. These loans are all performing according to their contractual terms, have a combined principal balance of approximately $29.2 million, mature between 1994 and 1999, and are secured by mortgages on 18 nursing homes (1,876 beds) located in eight states. HRP's bid was for approximately $27.8 million. This transaction is expected to close on or shortly after Nov. 29, 1993, and HRP expects to realize and all-in-yield on this investment of approximately 11.5 percent per annum.
 On Nov. 9, 1993 the company filed a registration statement with the Securities and Exchange Commission for the public sale of common shares of beneficial interest. The registration statement relating to these securities has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. Copies of the preliminary prospectus may be obtained from the offices of Donaldson, Lufkin & Jenrette Securities Corporation, 140 Broadway, New York, N.Y.; Merrill Lynch & Co., 250 Vesey St., New York, N.Y.; or Smith Barney Shearson Inc., 1345 Avenue of the Americas, New York, N.Y.
 -0- 11/22/93
 /CONTACT: David J. Hegarty, executive vice president of HRPT, 617-332-3990/
 (HRP)


CO: Health & Rehabilitation Properties Trust ST: Massachusetts IN: HEA SU: RLE

CM-JL -- NE014 -- 6961 11/22/93 16:30 EST
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Publication:PR Newswire
Date:Nov 22, 1993
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