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TRAMMELL CROW REAL ESTATE INVESTORS SELLS SOUTHLAND INDUSTRIAL PROJECT

TRAMMELL CROW REAL ESTATE INVESTORS SELLS SOUTHLAND INDUSTRIAL PROJECT
 DALLAS, Nov. 5 /PRNewswire/ -- Trammell Crow Real Estate Investors (NYSE: TCR) ("TCREI"), announced today the sale of the Southland Industrial Park in Houston, Texas. The 500,000 square foot facility was sold to a domestic real estate investment advisor for approximately $8,600,000, representing a slight gain over net book value.
 In 1991, the trust's management designed a comprehensive repositioning strategy which involved a significant recapitalization and deleveraging of the trust. An important element of this strategy is the sale of select trust properties, and the use of the sale proceeds to reduce the trust's debt. Accordingly, the net proceeds of the Southland sale will be used to retire the property's first mortgage debt, and reduce the trust's other indebtedness.
 TCREI is an equity real estate investment trust which owns and operates 16 commercial real estate assets, consisting of primarily industrial facilities. The trust is publicly traded on the New York Stock Exchange (NYSE), under the symbol, "TCR."
 -0- 11/5/92
 /CONTACT: Marianne Hoffman of Trammell Crow Real Estate Investors, 214-979-5149/
 (TCR) CO: Trammell Crow Real Estate ST: Texas IN: SU: RLE


TM -- NY142 -- 8007 11/05/92 19:03 EST
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Publication:PR Newswire
Date:Nov 5, 1992
Words:202
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