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MASON PARK SHOPPING CENTRE ACQUIRED BY LAMPRO; IDEAL TIME FOR INVESTMENT IN HIGH-GROWTH WEST HOUSTON AREA

 HOUSTON, March 4 /PRNewswire/ -- LAMPRO, the Houston subsidiary of Highridge Partners, a Los Angeles-based investment firm, announced this week the purchase of Mason Park Shopping Centre, a 220,000-square-foot premier retail center in the west Houston metro area.
 Situated on 13.6 acres, this attractive, all-brick shopping center is well located on Mason Road, just south of Interstate 10 near the new master-planned communities of Cinco Ranch, Kelliwood and Green Trails, in the rapidly growing suburb of Katy.
 Built in 1985, Mason Park includes an independently owned Kroger Food Store, Walgreen's drug store, Palais Royal family clothing store and an eight-screen Cinemark Cinema.
 "Mason Park features strong family-oriented anchor retailers, a growing and economically strong community, and excellent visibility along the major thoroughfare in this market," said Mark Kurtz, vice president of LAMPRO.
 "While the current real estate market is an ideal time for knowledgeable investors to buy quality assets like Mason Park, it will be LAMPRO's value-added approach that will allow us to realize the full potential of this acquisition," said Jack Mahoney, president of LAMPRO. "We have been pleased with tenants' enthusiastic response to our fresh and revitalized marketing program and planned enhancements to the property."
 Highridge Partners, LAMPRO's parent company, provided equity for the Mason Park purchase. Highridge Partners is a privately held real estate investment company specializing in applying innovative approaches to underperforming assets. Since 1978, Highridge Partners companies have acquired, developed and managed a real estate portfolio in Texas and California valued in excess of $500 million.
 -0- 3/4/93
 /CONTACT: Holly Kinyon of Casey & Sayre, 310-458-1224, for LAMPRO/


CO: LAMPRO; Highridge Partners; Mason Park Shopping Centre ST: Texas IN: REA SU: TNM

BP-LS -- LA026 -- 8223 03/04/93 15:22 EST
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Publication:PR Newswire
Date:Mar 4, 1993
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