Executive Life Insurance Co. subsidiary acquires major real estate projects in Florida.

PR Newswire | April 13, 1990 | Copyright

EXECUTIVE LIFE SUBSIDIARY ACQUIRES MAJOR REAL ESTATE PROJECTS IN FLORIDA

LOS ANGELES, April 13 /PRNewswire/ -- Executive Life Insurance Co. announced today that one of its subsidiaries has acquired from FPA Corp. major real estate projects in Boca Raton and Sarasota, Fla., in exchange for $21,319,000 principal amount of 12 5/8 percent senior notes due 1993 and $18,460,000 principal amount of 14 1/2 percent subordinated debentures due 2000 of FPA Corp. The subsidiary plans to sell all of the properties.

The properties include 45 single family lots and two ...

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