Mortgage and Realty Lists $5.15-Million Loss

Mortgage and Realty Trust, a troubled real estate investment trust with headquarters in Burbank and Elkins Parks, Pa., reported a $5.15-million loss for its fiscal second quarter that ended March 31.

A year earlier, Mortgage and Realty lost $7.77 million.

For the six months, the trust lost $9.81 million, compared with a year-before loss of $13.2 million.

Mortgage and Realty also said it did not pay the interest on $290 million of secured notes that was due on March 31. It said it is continuing to negotiate with the principal note holders to try to restructure the debt.