NORTHBROOK, Ill., Jan. 29 /PRNewswire/ -- Bradley Real Estate, Inc.
(NYSE: BTR) announced the closing on January 28, 1998 of $100 million of
7.2 percent, 10-year unsecured notes maturing on January 15, 2008, issued by
Bradley Operating Limited Partnership.  The notes were priced on January 23,
1998 and were sold at 99.051 percent of par to yield 7.242 percent to
maturity.  The securities are rated Baa3 by Moody's Investors Service and BBB-
by Standard & Poor's Corporation.  The proceeds from the offering are being
used to pay amounts outstanding under the company's
bank line of credit.
    The offering was lead-managed by PaineWebber Incorporated and Salomon
Smith Barney, and co-managed by BT Alex. Brown Incorporated and A.G.
Edwards & Sons, Inc.
    Bradley Real Estate, Inc. is the nation's oldest real estate investment
trust (REIT) and through its operating partnership is a leading owner
and operator of neighborhood and community shopping centers located in
the Midwest region of the United States.  The company owns 53 properties
in 11 states aggregating 10.1 million square feet of rentable space.
The company has paid 146 consecutive quarterly dividends.

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