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UNITED DOMINION REALTY TRUST ACQUIRES FIFTH RALEIGH APARTMENT COMMUNITY

 RICHMOND, Va., Dec. 1 ~PRNewswire~ -- United Dominion Realty Trust,


Inc. (NYSE: UDR), announced today that it has purchased the Cove at Lake

Lynn Apartments in Raleigh, N.C., from CM Property Management, Inc., a Connecticut Mutual Insurance Company affiliate, for $6.95 million.
 The Cove at Lake Lynn is a 225 unit garden apartment community located on 27.5 acres on Leesville Road on the northwest side of Raleigh. The Cove at Lake Lynn which was constructed in 1986 consists of 12 two and three story buildings of wood frame construction with horizontal hardboard siding and gable style shingled roofs. The apartments are a mix of one and two bedroom units that feature fireplaces, vaulted ceilings and washer~dryer connections. The community includes a clubhouse~office, swimming pool, jacuzzi, exercise room, laundry facility and lake frontage. Initially, the Trust plans to spend $400,000 to make various improvements to the property. Occupancy is currently 95 percent.
 Richard B. Chess, Vice President of Acquisitions, stated that the Cove at Lake Lynn is very well located on an attractive site with a combination of rolling terrain and mature trees, low density at only eight units per acre and 1,100 feet of lake frontage. He noted that at less than $31,000 per unit, the property is an attractive addition to the Trust's Raleigh portfolio.
 Barry M. Kornblau, Senior Vice President-Apartments, noted that the property has a good rental history, high occupancy, attractive floor plans and complete amenities. He noted that the Raleigh apartment market was strong, and the Trust was targeting the area for continued growth.
 With the purchase of the Cove at Lake Lynn, United Dominion now owns 12,162 apartment units in Virginia, North Carolina, South Carolina and Georgia. The Trust embarked on a major apartment expansion program in the Spring of 1991 which it expects to continue for at least another year. The Cove at Lake Lynn is the Trust's fifth apartment acquisition to date in 1992. United Dominion is a self-administered equity real estate investment trust that owns and operates primarily apartments and also shopping centers in the South Atlantic region. The Trust's common stock is traded on the New York Stock Exchange under the symbol "UDR".
 -0- 12~1~92
 ~CONTACT: Richard B. Chess, Director of Acquisitions, or Milton A. Scott, Jr., Senior Real Estate Analyst, United Dominion Realty Trust, 804-780-2691~
 (UDR)


CO: United Dominion Realty Trust, Inc. ST: Virginia, North Carolina IN: SU: TNM

MM -- CH002 -- 2302 12~01~92 09:53 EST
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Date:Nov 24, 1992
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