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HEALTH EQUITY PROPERTIES REDUCES DEBT

 HEALTH EQUITY PROPERTIES REDUCES DEBT
 WINSTON-SALEM, N.C., Aug. 18 /PRNewswire/ -- Health Equity


Properties (NYSE: EQP) announced today that the Company has reduced its note held by Nationwide Health Properties, Inc. by $7 million. The note, which was purchased by Nationwide from the Resolution Trust Corporation, has an interest rate of 11.25 percent and matures in 1997. The balance of the note after the paydown is $4.5 million. The repayment was funded by the Company's working capital reserves and reduces the Company's debt to equity ratio to 0.3 to 1.
 Based in Winston-Salem, N.C., Health Equity Properties is a real estate investment trust which owns 75 long-term healthcare facilities in five states.
 -0- 08/18/92
 /CONTACT: William G. Benton or Deborah S. Kecseti of Health Equity Properties, 919-723-7580/
 (EQP) CO: Health Equity Properties ST: North Carolina IN: HEA SU:


SB -- CH004 -- 0883 08/18/92 10:40 EDT
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Publication:PR Newswire
Date:Aug 18, 1992
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