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NATIONAL REALTY, L.P. REPORTS IMPROVED THIRD QUARTER RESULTS

 DALLAS, Nov. 16 ~PRNewswire~ -- National Realty, L.P. (AMEX: NLP) today reported net income of $4.2 million, or $1.75 per unit, on revenues of $26.0 million for the quarter ended Sept. 30, 1992. This compares with a net loss of $7.6 million, or $3.45 per unit, on revenues of $24.7 million for the third quarter of 1991.
 For the nine months ended Sept. 30, 1992, National Realty, L.P. recorded net income of $8,000, compared with a net loss of $17.3 million, or $7.87 per unit, in the first nine months of 1991. Revenues increased to $76.7 million from $72.7 million over the same period.
 Despite operating fewer properties in 1992 compared with 1991, rental income increased $1.1 million for the third quarter of 1992 and $4.3 million for the nine-month period ended September 30, 1992, over the same periods in 1991.
 National Realty recorded an extraordinary gain of $6.9 million during the third quarter of 1992 from the forgiveness of nonrecourse mortgage debt related to the partnership's properties lost to foreclosure. No such gain was recorded during the same period in 1991.
 The partnership recorded provision for losses of $500,000 and $2.6 million during the three-and-nine month periods, respectively, ending Sept. 30, 1992. During the corresponding periods in 1991, National Realty recorded provision for losses of $916,000 and $3.6 million.
 "The partnership has turned the corner and is now generating increasing cash flow as our investment program in the properties has taken effect," said a spokesperson for the partnership. "Our apartments are over 90 percent occupied and we believe strong rent increases and further occupancy gains are in store. We remain confident about the partnership's ability to refinance its short-term debt."
 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. The limited partners' ownership represents 98 percent of the total partnership.
 NATIONAL REALTY, L.P.
 FINANCIAL HIGHLIGHTS
 (in thousands, except unit and per unit data)
 Three months Nine months
 Periods ended Sept. 30 1992 1991 1992 1991
 Total revenues $ 25,961 $ 24,658 $ 76,660 $ 72,654
 (Loss) from
 operations (3,128) (7,897) (8,339) (17,092)
 Gain on sale of real
 estate 375 371 375 371
 Litigation settlement
 gain (loss) - (43) 1,030 (528)
 Extraordinary gain 6,942 - 6,942 -
 Net income (loss) $ 4,189 $ (7,569) $ 8 $ (17,292)
 Net income (loss)
 per limited
 partner unit $ 1.75 $ (3.45) $ - $ (7.87)
 Weighted average
 units of limited
 partner interest 2,349,907 2,150,166 2,348,384 2,152,633
 -0- 11~16~92
 ~CONTACT: Jean Krone Bono, Director of Investor Relations, of National Realty, L.P., 214-692-4800~
 (NLP)


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

LR -- NY099 -- 1395 11~16~92 15:08 EST
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Publication:PR Newswire
Date:Nov 16, 1992
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