DALLAS, August 1, 2000 (PRIMEZONE)-- American Realty Trust, Inc. (NYSE:ARB) and National Realty, L.P. (AMEX:NLP) Tuesday announced that the reorganization and combination of the two real estate entities will close on or before August 3, 2000.
American Realty Investors will begin trading on the New York Stock Exchange on August 3, 2000.
With the closing, American Realty Trust shareholders will receive .91 shares of American Realty Investors common stock in exchange for each share of ART common stock presently held. National Realty unitholders will receive one share of American Realty Investors common stock for each NLP partnership unit currently held. ART and NLP will continue their business operations as wholly owned subsidiaries of American Realty Investors, with no change in the management of the combined entities or their properties.
American Realty Investors, Inc. is a real estate investment company that operates nationwide. Company news relating to the combination and all financial information is accessible at the Investor Data section of the American Realty Internet site located at www.amrealtytrust.com.