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Article: International Income Property announces sale of partial shopping center interest, second-quarter financial results, and increased distribution. (Park City Center, Lancaster, Pennsylvania)
- Article from:
- PR Newswire
- Article date:
- July 26, 1989
CopyrightCOPYRIGHT 1989 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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INTERNATIONAL INCOME PROPERTY ANNOUNCES SALE OF PARTIAL SHOPPING CENTER INTEREST, SECOND-QUARTER FINANCIAL RESULTS, AND INCREASED DISTRIBUTION
NEW YORK, July 26 /PRNewswire/ -- International Income Property Inc. (AMEX: IIP) announced today that it has sold a 25 percent interest in Park City Center in Lancaster, Pa. The company's joint venturer is U.S. Prime Property Inc., a new institutional real estate investment fund, which was sponsored by the company's investment adviser, Dusco, Inc. The sales price, $35.5 million, was determined by independent appraisers for both parties. The gain on the sale of $18.5 million will be included in third-quarter results ...