DALLAS, Oct. 3, 2001 (PRIMEZONE) -- Income Opportunity Realty Investors, Inc. (AMEX:IOT) (IORI) announced Wednesday that it recently purchased 75,100 shares of common stock for $1,314,250 in a private block transaction.
Representing some 4.9 percent of Income Opportunity Realty Investors outstanding common shares, the stock was acquired through direct purchase from an individual stockholder and the stockholder's affiliates in a single transaction last week. IORI then retired the shares, reducing the common stock outstanding to approximately 1,438,945.
Income Opportunity Realty Investors, Inc. is a Dallas-based real estate investment trust. IORI primarily invests in equity interest in real estate through direct ownership and partnerships. For more information, go to the company's Web site at www.incomeopp-realty.com.