Printer Friendly

MERRY LAND BUYS JACKSONVILLE PROPERTY

 AUGUSTA, Ga., May 3 /PRNewswire/ -- Peter S. Knox III, chairman of Merry Land & Investment Company, Inc. (NYSE: MRY), announced today that the company has closed the purchase of Waterford at Mandarin Apartments, a 432-unit luxury apartment community in Jacksonville, Fla., for $18,250,000.
 This price includes a 4.5-acre parcel of commercial land adjacent to the property.
 This acquisition increases the company's portfolio to a total of 7,181 units -- representing a total investment of $238 million.
 Knox stated that the company has signed contracts to purchase 1,038 additional units -- representing a further investment of $45 million -- which he expects to close prior to the end of the second quarter of this year.
 Merry Land is a Real Estate Investment Trust headquartered in Augusta. It specializes in the acquisition and operation of apartment communities in the South Atlantic region of the United States. Its stock is traded on the New York Stock Exchange under the symbol MRY.
 -0- 5/3/93
 /CONTACT: Tennent Houston, president of Merry Land, 706-722-6756/
 (MRY)


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

BN-BR -- AT021 -- 3786 05/03/93 12:20 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 3, 1993
Words:192
Previous Article:SENETEK PLC ANNOUNCES APPROVAL TO BEGIN FORMAL CLINICAL TRIALS OF MALE SEXUAL DYSFUNCTION PRODUCT
Next Article:U.S. INVESTORS BOUGHT RECORD $51.5 BILLION FOREIGN SECURITIES IN 1992; FOREIGN INVESTORS SOLD U.S. EQUITIES
Topics:


Related Articles
MERRY LAND BUYS RALEIGH APARTMENT
MERRY LAND BUYS TWO APARTMENT PROPERTIES IN ATLANTA
MERRY LAND BUYS TWO APARTMENT PROPERTIES IN FLORIDA
MERRY LAND BUYS TALLAHASSEE PROPERTY -- COMPLETES SALE OF TWO THRIFT INVESTMENTS
MERRY LAND BUYS RALEIGH, N.C., PROPERTY
MERRY LAND PURCHASES CHARLOTTE APARTMENT PROPERTY
MERRY LAND BUYS TEXAS PROPERTY
Merry Land Purchases Austin, Texas Apartment Property
Merry Land Purchases Houston, Texas Apartment Property
Merry Land Purchases Houston, Texas Apartment Community

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters