COPLEY PROPERTIES <COP> TO INVEST IN JOINT PACT
Copley Properties Inc said the company
will invest 9,500,000 dlrs in a joint venture to acquire and
develop 33.4 acres of industrial land in Hayward, Calif.
    Copley said it will own 60 pct of the project and be
entitled to a 10 pct preferential return on its investment plus
60 pct of all excess cash from operations, refinancings and
other capital transactions.
 Reuter
