DALLAS, June 7, 2000 (PRIMEZONE) -- National Realty, L.P. (AMEX:NLP) Wednesday announced there will be no distribution for the second quarter of 2000.
As previously announced, National Realty, L.P. unitholders approved a reorganization and combination with American Realty Trust, Inc. (NYSE:ARB) into a holding company to be named American Realty Investors, Inc. The combination is expected to close within the second quarter.
Upon the combination, there will be a tax-free exchange of stock and partnership units. National Realty, L.P. unitholders will receive one share of American Realty Investors, Inc. common stock for each partnership unit held. ART holders will receive 0.91 shares of the new company's common stock for each ART share held. Holders of ART preferred stock will receive one preferred share of the new company for each share held. American Realty Investors will trade on the New York Stock Exchange under the symbol "ARL".
National Realty, L.P. is a Dallas-based real estate investment partnership that operates across the United States. For more information, go to www.nationalrealty-lp.com .