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TRANSCONTINENTAL REALTY INVESTORS, INC. ANNOUNCES ACQUISITION OF OFFICE PARK

 TRANSCONTINENTAL REALTY INVESTORS, INC.
 ANNOUNCES ACQUISITION OF OFFICE PARK
 DALLAS, Nov. 5 /PRNewswire/ -- Transcontinental Realty Investors, Inc. (NYSE: TCI) today announced the acquisition of the 80,000-square- foot Forum Office Park, located in suburban Richmond, Virginia, for $6.8 million. The seller, a major financial institution, provided long-term, low-interest financing for 86 percent of the purchase price. The building is almost 90 percent occupied under substantially net leases averaging over $12.00 per square foot.
 Transcontinental Realty Investors, Inc. is a combination mortgage and equity real estate investment trust which operates nationwide.
 -0- 11/5/92
 /CONTACT: Jean Krone Bono, CFA, director of investor relations of Transcontinental Realty Investors, 214-692-4800.
 (TCI) CO: Transcontinental Realty Investors, Inc. ST: Texas IN: FIN SU: TNM


SM -- NY023 -- 2901 11/05/92 09:17 EST
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Publication:PR Newswire
Date:Nov 5, 1992
Words:131
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