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VINLAND PROPERTY TRUST ANNOUNCES THE PURCHASE OF THE VILLAS AT CENTRAL PARK

 VINLAND PROPERTY TRUST ANNOUNCES THE PURCHASE
 OF THE VILLAS AT CENTRAL PARK
 DALLAS, May 4 /PRNewswire/ -- Vinland Property Trust (NASDAQ: VIPTS) today announced the purchase of The Villas at Central Park apartments, containing 233,600 square feet of net rentable space located in Orlando, Fla. for $6.6 million.
 Long-term financing for over 80 percent of the purchase price was provided by an unaffiliated insurance company and a bank. The 288 unit, 18-year-old apartment complex is well located minutes south of the Orlando business district and is 90 percent occupied.
 "Vinland will continue to be opportunistic in its purchases," said a spokesperson for the trust. "We believe this property will be a valuable addition to our portfolio and we expect it to provide good returns for years to come."
 Vinland Property Trust is a combination mortgage and equity real estate investment trust which operates primarily in Texas and Oklahoma.
 -0- 5/4/92
 /CONTACT: Kevin LeBlanc of Vinland, 214-692-4800/
 (VIPTS) CO: Vinland Property Trust ST: Texas IN: FIN SU: TNM


SM -- NY059 -- 5995 05/04/92 11:49 EDT
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Publication:PR Newswire
Date:May 4, 1992
Words:179
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