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LNH REIT, INC. ANNOUNCES THIRD QUARTER AND NINE MONTHS RESULTS (d)

 JACKSON, Miss., Nov. 15 /PRNewswire/ -- LNH REIT, Inc. (NYSE: LHC) announced today the results for the third quarter and nine months ended Sept. 30.
 Funds from operations were $.09 per share for the three months ended Sept. 30 compared to $.18 for the same period of 1992. Funds from operations were $.39 per share for the nine months ended Sept. 30 compared to $.49 per share for the same period of 1992.
 The net loss for the three months ended Sept. 30 was $268,000 ($.12 per share) compared to net income of $299,000 ($.14 per share) for the same period of 1992. For the nine months ended Sept. 30 the net loss was $1,101,000 ($.50 per share) compared to a net loss of $1,684,000 ($.77 per share) for the same period of 1992. The net loss for the nine months ended Sept. 30 includes losses of $1,947,000 ($.88 per share) related to the land investments in Houston. The net loss for the nine months ended Sept. 30, 1992, includes losses on investments of $1,441,000 ($.66 per share) related primarily to the Linpro Commerce Center and a provision for loss of $1,356,000 ($.62 per share) related to investments in mortgage loans and real estate.
 During the third quarter of 1993, LNH closed on the sale of an 1,108-acre parcel of land in Houston. The company received cash of $1,108,000 and a mortgage note receivable of $3,324,000. The terms of the note include interest at the prime lending rate, payments of interest only for 18 months increasing thereafter to fixed principal and interest payments based on a 20-year amortization and maturity on Sept. 17, 1999. For financial reporting purposes, the company recognized a loss of $449,000 ($.20 per share) on the sale in the third quarter.
 No interest was accrued on the Liberty Corners mortgage loan during the third quarter of 1993. The borrowers on this mortgage loan defaulted on interest payments due July 1 and all payments due thereafter. The Liberty Corners 77.78 percent mortgage loan participation has an outstanding principal balance of $6,689,000 and a net carrying value (net of allowance for loss) of $5,793,000 at Sept. 30. It is secured by a 120,264-square-foot shopping center in suburban Kansas City, Mo., which is 84 percent leased at Oct. 31. Management of the company expects to receive a deed-in-lieu of foreclosure on the property during the fourth quarter.
 LNH REIT
 Qtr. ended 9 mos. ended
 9/30/93 9/30/92 9/30/93 9/30/92
 (In thousands, except per share data)
 Revenues $ 489 $ 774 $ 1,777 $ 2,150
 Funds from operations 190 394 862 1,071
 Depreciation (26) (24) (75) (24)
 Provision for possible loss --- --- --- 1,356
 Amortization of deferred
 financing fees and discounts
 on mortgage loans 17 21 59 66
 Income (loss) from operations 181 39 ? 846 (243)
 Loss on investments (449) (92) (1,947) (1,441)
 Net income (loss) $ (268) $ 299 $(1,101) $(1,684)
 Per share information:
 Funds from operations $ .09 $ .18 $ .39 $ .49
 Income from operations .08 .18 .38 (.11)
 Loss on investments (.20) (.04) (.88) (.66)
 Net income (loss) $ (.12) $ .14 $ (.50) $ (.77)
 Avg. number of shares outst. 2,200 2,200 2,200 2,200
 -0- 11/15/93
 /CONTACT: N. Keith McKey, senior vice president, chief financial officer and secretary, LNH REIT, 601-948-4091/
 (LNH)


CO: LNH REIT, Inc. ST: Mississippi IN: SU: ERN

RA-BN -- AT013 -- 4572 11/15/93 15:04 EST
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Date:Nov 15, 1993
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