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LNH REIT, INC. ANNOUNCES SECOND QUARTER AND SIX MONTHS RESULTS

 JACKSON, Miss., Aug. 16 /PRNewswire/ -- LNH REIT, Inc. (NYSE: LHC) announced today results for the second quarter and six months ended June 30.
 Funds from operations were $.15 per share for the three months ended June 30 compared to $.17 for the same period of 1992. Funds from operations were $.30 per share for the six months ended June 30 compared to $.30 per share for the same period of 1992.
 The net loss for the three months ended June 30 was $1,164,000 ($.53 per share) compared to a net loss of $2,283,000 ($1.04 per share) for the same period of 1992. For the six months ended June 30 the net loss was $833,000 ($.38 per share) compared to a net loss of $1,983,000 ($.90 per share) for the same period of 1992. The net loss for the three months and six months ended June 30 includes a writedown of $1,498,000 ($.68 per share) related to the land investments in Houston. The net loss for the three months and six months ended June 30, 1992 includes a writedown of $1,349,000 ($.61 per share) related to the Linpro Commerce Center and a provision for loss of $1,343,000 ($.61 per share) and $1,356,000 ($.62 per share), respectively related to investments in mortgage loans and real estate.
 LNH REIT
 Qtr. ended 6 mos. ended
 6/30/93 6/30/92 6/30/93 6/30/92
 (In thousands, except per share data)
 Revenues $ 633 $ 718 $ 1,288 $ 1,376
 Funds from operations 338 386 672 677
 Depreciation (25) --- (49) ---
 Provision for possible loss --- (1,343) --- (1,356)
 Amortization of deferred financing
 fees and discounts on mortgage
 loans 21 23 42 45
 Income (loss) from operations 334 (934) 665 (634)
 Loss on investments (1,498) (1,349) (1,498) (1,349)
 Net loss $(1,164)$(2,283) $ (833) $(1,983)
 Per share information:
 Funds from operations $ .15 $ .17 $ .30 $ .30
 Income (loss) from operations .15 (.43) .30 (.29)
 Loss on investments (.68) (.61) (.68) (.61)
 Net loss $ (.53)$ (1.04) $ (.38) $ (.90)
 Avg. no. of shares outstanding 2,200 2,200 2,200 2,200
 -0- 8/16/93
 /CONTACT: N. Keith McKey, senior vice president, chief financial officer and assistant secretary of LNH REIT, 601-948-4091/
 (LHC)


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

RA-BR -- AT002 -- 3105 08/16/93 13:10 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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