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REAL ESTATE

<i> Times Staff and Wire Reports</i>

Third Bid Expected for Rockefeller Center Properties Inc.: The cash-strapped holder of the mortgage on bankrupt Rockefeller Center is expected to a receive another reorganization proposal as early as this week. The bid is expected to come from Houston developer Gerald D. Hines and possibly include Rockefeller Center tenant General Electric Co., people familiar with the situation said. Hines’ bid would be separate from two other plans to reorganize the New York landmark. Chicago real estate investor Sam Zell, along with Walt Disney Co., has made one offer, while the owners of Rockefeller Center have made another. Details of the possible Hines bid were not available. Rockefeller Center was placed in bankruptcy protection May 11 by Japan’s Mitsubishi Estate Co., which holds an 80% stake in the partnerships owning the complex. Rockefeller family trusts own the other 20%.


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