HOUSTON-United Investors Realty Trust has hawked the 51,656-sf Twin Lakes Shopping Center in Lenoir City, TN, for about $1.3 million in cash and about a $1.5-million mortgage note.

The Houston-based REIT will carry the mortgage through 2006, requiring monthly payments and 9% interest. The disposition is part of a capital recycling strategy that brought the sale of four shopping centers. The company has lowered its debt by more than $11.7 million in debt as a result and repurchased 400,000 shares. It also has reinvested in newly developed shopping centers. The UIRT portfolio still consists of 25 neighborhood and community shopping centers and another with a 50% stake.

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