Mortgage and Realty Lists $5.15-Million Loss
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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.
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