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NATIONAL REALTY, L.P. ANNOUNCES DEBT RESTRUCTURING

 DALLAS, Nov. 25, ~PRNewswire~ -- National Realty, L.P. (AMEX: NLP) today announced the transfer of 52 multi-family apartment properties and a mortgage receivable to a new partnership in which it has a non- controlling, limited partnership interest. The limited partnership interest in the new partnership gives National Realty substantially all the equity in the assets transferred.
 The new partnership has refinanced all mortgage debt associated with the 52 properties, including $22 million paid to Transcontinental Realty Investors, Inc. (NYSE: TCI). As a result, substantially all of National Realty's indebtedness coming due prior to 1996 has now been satisfied. The refinancing is for a 10-year term carrying a materially lower annual debt service than the debt paid off. Consequently, National Realty anticipates increased cash flow from its retained interest in this portfolio.
 A spokesperson for National Realty stated, "We are especially pleased to have arranged for full payment of the loan from our affiliate, Transcontinental, and to eliminate most of our other short- and medium-term debt obligations without liquidating any assets at fire sale prices. National Realty is now in a position to use its positive cash flow productively in taking opportunities available in today's buyer's market."
 National Realty, L.P. is a national real estate investment partnership engaged in the acquisition, financing, operation, and sale of real estate and real estate assets.
 -0- 11~25~92
 ~CONTACT: Jean Krone Bono, director-investor relations of National Realty, L.P., 214-692-4800~
 (NLP)


CO: National Realty, L.P. ST: Texas IN: SU: RCN

AH -- NY041 -- 1586 11~25~92 15:03 EST
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Publication:PR Newswire
Date:Nov 25, 1992
Words:258
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