Mortgage & Realty Posts Loss of $5.5 Million
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Mortgage & Realty Trust, a struggling real estate investment trust with executive offices in Burbank, posted a $5.5-million loss for its fiscal first quarter that ended Dec. 31.
The loss compared with a year-earlier loss of $5.2 million. The company, which has been hurt by its investments in apartments and commercial real estate, said its non-earning mortgage loans as of Dec. 31 totaled $38.6 million, down from $55.5 million a year earlier.
Mortgage & Realty’s assets as of Dec. 31 were $399.8 million, down from $497.2 million at year-end 1991.
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