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UNITED DOMINION REALTY TRUST PURCHASES SECOND GREENVILLE/SPARTANBURG APARTMENTS

 RICHMOND, Va., Sept. 30 /PRNewswire/ -- United Dominion Realty Trust, Inc. (NYSE: UDR), announced today that it has purchased Heatherwood Apartments in Greenville, S.C., for $3,545,100 from Jacques- Miller Realty Partners, L.P., of Nashville, Tenn. Heatherwood is a 152- unit garden apartment community located on 13 acres on Mauldin Road at the intersection of Cavalier Road on the south side of Greenville. Last year, the Trust purchased Key Pines in Spartanburg, which was its first Greenville/Spartanburg property.
 Heatherwood, constructed in 1978, consists of 10 two- and three- story wood frame buildings with primarily brick veneer exterior walls and gable-style roofs. The apartments are a mix of one-, two- and three-bedroom units containing an average of 880 square feet. The community includes a rental office, two swimming pools, two lighted tennis courts and a playground. Initially, the Trust plans to invest approximately $500,000 correcting some deferred maintenance, redecorating units and enhancing the community. The property is currently 97 percent occupied.
 Richard B. Chess, vice president and director of acquisitions, stated that while Heatherwood is a smaller community, the Trust is anxious to make additional acquisitions in the Greenville/Spartanburg market. Having a property in both Spartanburg and Greenville should help the Trust make additional acquisitions in the area. He noted that Heatherwood was attractively priced at $23,300 per unit and very well- occupied in what is an improving market.
 Barry M. Kornblau, senior vice president-apartments, stated that approximately 80 percent of the apartments are two- and three-bedroom units, and all of the apartments have washer/dryer connections. He indicated that the brick property is in reasonably good condition, has a very attractive site with relatively low density and a good amenity package.
 With the purchase of Heatherwood, United Dominion now owns 16,627 apartment units in 69 communities in the Southeast, from Baltimore/Washington to Florida. The Trust also owns approximately 2 million square feet of shopping centers and other commercial space. In the spring of 1991, the Trust embarked on a major apartment acquisition program which it expects to continue at least into 1994. United Dominion is a self-administered equity real estate investment trust, and its common stock is traded on the New York Stock Exchange under the symbol "UDR."
 -0- 9/30/93
 /CONTACT: Richard B. Chess, director of acquisitions, or Milton A. Scott Jr., assistant director of acquisitions, United Dominion Realty Trust, 804-780-2691/
 (UDR)


CO: United Dominion Realty Trust ST: Virginia, South Carolina IN: SU: RLE TNM

DC-KD -- DC040 -- 7530 09/30/93 17:37 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
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