DALLAS, Sept. 21, 1999 (PRIMEZONE) -- Basic Capital Management, Inc. announced Tuesday that the company's president, Karl L. Blaha, who also is president of American Realty Trust, Inc. (NYSE:ARB), has assumed the presidency of NRLP Management Corp, the general partner of National Realty, L.P. (AMEX:NLP), and three real estate investment trusts; Continental Mortgage and Equity Trust (Nasdaq:CMETS), Transcontinental Realty Investors, Inc. (NYSE:TCI) and Income Opportunity Realty Investors, Inc. (AMEX:IOT). Basic Capital Management is advisor to ART, NLP, CMET, TRI and IORI.
Blaha, 51, has served as president of American Realty Trust since 1993 and joined the ART board in 1996. He also is a director of NRLP Management, the general partner of NLP. Until assuming the presidencies, Blaha was executive vice president of the Commercial Asset Management group for the public entities and held the same position at Basic Capital Management, until being named its president.
Named as head of the Commercial Asset Management group was David W. Starowicz, 43, who was promoted to executive vice president of American Realty, Continental Mortgage, Income Opportunity, Transcontinental Realty, National Realty and Basic Capital Management. In his new position, Starowicz oversees the commercial properties, as well as performing due diligence for commercial acquisitions. Formerly he served as a portfolio manager and vice president of ART, CMET, IORI, NLP, TRI and BCM.
American Realty Trust is a real estate investment company and National Realty, L.P. is a master limited partnership. Continental Mortgage and Equity Trust, Transcontinental Realty Investors, Inc. and Income Opportunity Realty Investors, Inc. are real estate investment trusts. Based in Dallas, the five entities operate nationwide and are advised by Basic Capital Management, Inc., also located in Dallas.