ROCKVILLE, MD-A $30 million credit line, courtesy of Wachovia Bank NA, has left Bresler & Reiner Inc. in a position where it can continue to compete with all the other investors eager to take advantage of the thriving real estate market in the Greater Washington, DC area and surrounding regions.

The credit line will be utilized solely for the purpose of acquiring real estate. Already Bresler & Reiner has spotted two parcels in Ocean City, MD that it plans to acquire. It will take $1.8 million of the $30 million credit line to purchase the land, which will become home to a condominium project B&R is planning with an equity partner. According to a May 14 SEC filing covering first quarter results, Bresler & Reiner had invested nearly $8 million during the period from January 1 through March 31, 2004 on the purchase of property and land held for development.

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