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IRT PROPERTY COMPANY ANNOUNCES COMMON STOCK OFFERING

 IRT PROPERTY COMPANY ANNOUNCES COMMON STOCK OFFERING
 ATLANTA, Oct. 22 /PRNewswire/ -- IRT Property Company (NYSE: IRT)


today announced its public offering of 5 million shares of common stock at a price of $11.00 per share.
 IRT will have approximately 19.1 million shares of common stock outstanding following the offering.
 The co-managers of the offering are Kidder, Peabody & Co. Incorporated and Alex. Brown & Sons Incorporated.
 The company said proceeds will be used to purchase neighborhood and community shopping centers primarily in the Southeast, to renovate or ea?nd presently owned properties and to retire debt.
 A self-administered equity real estate investment trust (REIT), IRT is the largest REIT specializing in southeastern United States shopping centers. Anchor tenants include Wal-Mart, Kmart, and Harris Teeter, Publix and Kroger supermarkets. The portfolio of 78 investments includes more than 5 million square feet of retail space.
 -0- 10/22/92 R
 /CONTACT: Mary M. Thomas, executive vice president and treasurer of IRT Property, 404-955-4406/
 (IRT) CO: IRT Property Company ST: Georgia IN: SU: OFR


EA-BR -- AT004 -- 3582 10/22/92 12:11 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 22, 1992
Words:180
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