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'Merry Land Purchases Charlotte, North Carolina Apartment Property'

AUGUSTA, Ga., Nov. 22 /PRNewswire/ -- Merry Land & Investment Company, Inc. (NYSE: MRY), has completed the purchase of The Regency, a 178 unit luxury apartment community located in Charlotte, North Carolina for $11.2 million cash. The apartment community, built in 1986, is located in southeast Charlotte, in the SouthPark area.

Merry Land is a real estate investment trust headquartered in Augusta, Georgia. This acquisition increases Merry Land's holdings to 24,570 units in 89 apartment communities in 28 metropolitan areas in 10 states. The company now owns seven apartment communities in Charlotte, with a total of 1,801 units.

SOURCE Merry Land & Investment Company, Inc.
 -0- 11/22/96


/CONTACT: Dorrie Green, Merry Land & Investment Company, Inc., 706-722-6756/

(MRY)

CO: Merry Land & Investment Company, Inc. ST: Georgia, North Carolina IN: SU: RLE

KS -- ATF004 -- 5744 11/22/96 10:02 EST http://www.prnewswire.com
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Publication:PR Newswire
Date:Nov 22, 1996
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