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UNITED DOMINION REALTY TRUST ACQUIRES TWO FLORIDA APARTMENT PROPERTIES

 RICHMOND, Va., Jan. 29 /PRNewswire/ -- United Dominion Realty Trust, Inc. (NYSE: UDR) announced today that it has purchased two apartment communities containing 357 units for $7,395,000 from John Hancock Mutual Life Insurance Company to complete a six property transaction. The other four apartment communities were acquired by the Trust in mid- December. The two properties acquired today are Foxcroft Apartments in Tampa and Orange Orlando Apartments in Orlando.
 Foxcroft is a 192 unit garden apartment community located on approximately 9 acres on Dale Mabry Road near Busch Boulevard on the northside of Tampa. The property, which was completed in 1972, consists of 31 two story buildings of wood frame construction with horizontal vinyl siding and pitched roofs. The apartments which are a mix of one, two and three bedroom units contain on average 1,100 square feet. Foxcroft includes two swimming pools, two tennis courts, a playground, a clubhouse, two laundry rooms and two fitness centers. Initially, the Trust plans to spend approximately $550,000 making improvements and repairs to the property. Occupancy is currently 92 percent.
 Orange Orlando is a 165 unit garden and townhouse community located on Curry Ford Road, just west of Semoran Boulevard (Route 36) in Orlando. The property, which was also completed in 1972, consists of 12 two story wood frame buildings with plywood siding, small mansards and flat roofs. The apartments are a mix of one, two and three bedroom units containing on average 800 square feet. Orange Orlando includes a clubhouse, swimming pool, tennis court and beach volleyball. Initially, the Trust will spend approximately $800,000 making improvements and repairs to the property. Occupancy is currently 85 percent.
 Richard B. Chess, Director of Acquisitions, stated that Foxcroft is the Trust's third Tampa area property and Orange Orlando is its first Orlando property. The Trust expects to close on other Orlando properties in the near future. He noted that while both properties are slightly smaller than the Trust normally acquires, both properties have good rental histories and stable occupancies and will eventually be near other Trust apartments.
 With the purchase of these two apartment communities, United Dominion now owns 14,188 apartment units in the southeast, from Baltimore/Washington, south to Tampa, Fla. The Trust also owns approximately 2 million square feet of shopping centers and other commercial space. The Trust embarked on a major apartment expansion program in the spring of 1991 which it expects to continue at least through 1993. United Dominion is a self-administered equity real estate investment trust that owns and operates primarily apartments and also shopping centers in the southeast. The Trust's common stock is traded on the New York Stock Exchange under the symbol "UDR".
 -0- 1/29/93
 /CONTACT: Richard B. Chess, Director of Acquisitions, or Milton A. Scott, Jr., Senior Real Estate Analyst, United Dominion Realty Trust, Inc., 804-780-2691/
 (UDR)


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

CM -- CH013 -- 0788 01/29/93 13:13 EST
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Publication:PR Newswire
Date:Jan 29, 1993
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