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LINCOLN N.C. REALTY CLOSES SALE OF LINCOLN RANCHO BERNARDO PROPERTY

LINCOLN N.C. REALTY CLOSES SALE OF LINCOLN RANCHO BERNARDO PROPERTY
 PALO ALTO, Calif., March 13 /PRNewswire/ -- Lincoln N.C. Realty Fund Inc. (AMEX: LRF) (the "company") announced today the closing of the sale of the company's Lincoln Rancho Bernardo Property to BB&K/Bernardo Hills Inc. for $16,250,000. The company has netted $6,675,000 in cash from the sale before legal and other professional expenses. The company is expected to declare a special dividend within 60 days to disburse these funds in accordance with the Proxy vote solicitation materials previously distributed.
 The company is a real estate investment trust. Its securities are listed on the American and Pacific Stock Exchanges. The company's principal executive offices are located at 698 Emerson St., Palo Alto, Calif. 94301, and its telephone number is 415-329-8867.
 -0- 3/13/92
 /CONTACT: William F. Garlock of Lincoln N.C. Realty Fund Inc., 415-329-8867/
 (LRF) CO: Lincoln N.C. Realty Fund Inc.; BB&K Bernardo Hills Inc. ST: California IN: SU:


JL -- SJ001 -- 7979 03/13/92 17:28 EST
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Publication:PR Newswire
Date:Mar 13, 1992
Words:177
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