Vestin Realty Mortgage I Inc. and Vestin Realty Mortgage II Inc., Las Vegas-based real estate investment trusts, have announced temporary suspensions of dividend payments. Vestin I and II said they expect their operating results to be hurt by an increase in nonperforming assets, the recognition of writedowns on real estate held for sale, and legal expenses related to the defense of various lawsuits. The companies attributed the growth in NPAs and the writedowns largely to "the current state of the real estate markets and the continuing constraints in credit markets." Both REITs are managed by Vestin Mortgage Inc.
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