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UNITED DOMINION REALTY TRUST ACQUIRES LARGE RICHMOND APARTMENT COMPLEX

 UNITED DOMINION REALTY TRUST ACQUIRES
 LARGE RICHMOND APARTMENT COMPLEX
 RICHMOND, Va., Dec. 11 /PRNewswire/ -- United Dominion Realty Trust, Inc. (NYSE: UDR), a Richmond, Virginia based real estate investment trust, announced today that it has purchased English Hills Apartments in Richmond from New West Federal Savings & Loan Association of Irvine, California, for $13.4 million. English Hills is a 576 unit complex located on 40 acres on Maryland Drive near the intersection of Parham Road and I-64 on the west end of Richmond in Henrico County. This is the largest single purchase in the history of the Trust and is the largest apartment complex owned by the Trust.
 The property has one, two and three bedroom apartments in 72 two-story buildings, constructed in four phases between 1969 and 1976. Each of the buildings is wood frame with brick veneer exterior walls with some stucco board and either gable or Dutch colonial style roofs. The apartments are large, averaging 1,017 square feet, and each unit has a patio or balcony. The amenities in the property include a clubhouse, two swimming pools, three tennis courts and a playground. The occupancy rate on the date of closing was 91 percent.
 Richard B. Chess, Director of Acquisitions for the Trust, stated that English Hills is a very well located, quality complex that is convenient to major shopping and employment centers, and because of the interstate, accessible to all parts of the metropolitan area. He noted that the purchase price of approximately $23,000 per unit represented only $23 per square foot. He indicated that the Trust would spend about $2 million in 1992 correcting deferred maintenance, redecorating units and generally upgrading the property.
 Barry M. Kornblau, Director of Apartments, noted that the historically high occupancy, large unit size and overall quality make the property highly desirable to own and operate. He noted that the Trust liked the unit mix of only 28 percent of one bedrooms, and the economy of scale in operating a large property.
 With the purchase of English Hills, the Trust now owns 10,712 apartment units in Virginia, North Carolina, South Carolina and Georgia. Including English Hills, the Trust owns approximately 3,000 apartment units in the Richmond area. United Dominion has purchased 2,039 apartment units to date in 1991.
 United Dominion Realty Trust is a self-administered equity real estate investment trust that owns and operates primarily apartments and also shopping centers in the Southeast. The Trust specializes in purchasing properties that can be upgraded by capital improvements and new management. Its common stock is traded on the New York Stock Exchange under the symbol "UDR."
 -0- 12/11/91
 /CONTACT: Richard B. Chess, Director of Acquisitions, or Milton A. Scott, Jr., Senior Real Estate Analyst, 804-780-2691, both of United Dominion Realty Trust, Inc./
 (UDR) CO: United Dominion Realty Trust, Inc. ST: Virginia, California IN: SU: TNM


JM -- CH004 -- 1377 12/11/91 10:39 EST
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Publication:PR Newswire
Date:Dec 11, 1991
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