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UNITED DOMINION REALTY TRUST PURCHASES ALEXANDRIA APARTMENTS

 RICHMOND, Va., Feb. 22 /PRNewswire/ -- United Dominion Realty Trust, Inc. (NYSE: UDR), announced today that it has purchased Hampton Court Apartments in Alexandria, Va., for $12,100,000 from the Resolution Trust Corporation as conservator for HomeFed Bank, F.A.
 Hampton Court is a 308-unit garden community located on 13 acres fronting North Armistead Street and backing up to I-395 on the west side of the City of Alexandria. The property, which was completed in 1967 and remodeled in 1990, consists of seven three-and-one-half- story buildings of masonry construction with full brick walls and gable style roofs. The apartments are a mix of one, two and three bedroom units containing, on average, 940 square feet. There is a swimming pool and playgrounds on the property and laundry facilities in each building. Occupancy is currently 95 percent. The Trust plans to invest approximately $500,000 making improvements to the property.
 Richard B. Chess, director of acquisitions, stated that the Trust wants a significant apartment presence in the Washington/Baltimore market and that Hampton Court is its fourth acquisition in this market in the last three months. He noted Hampton Court's masonry construction, its location inside the beltway near a Metro stop and its proximity to the District of Columbia and shopping as important factors that made the property attractive to the Trust.
 Barry M. Kornblau, Senior Vice-President-Apartments, stated that in addition to its good location, Hampton Court offers an attractive unit mix with only 20 percent one bedrooms and above average apartment size. He also noted that with 308 units the property is an ideal size for efficient staffing. He indicated that the property has a good rental history reflecting its affordability and good location.
 With the purchase of Hampton Court, United Dominion now owns 14,496 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- 2/22/93
 /CONTACT: Richard B. Chess, director of acquisitions, United Dominion, 804-780-2691/
 (UDR)


CO: United Dominion Realty Trust ST: Virginia IN: FIN SU:

TW -- DC014 -- 8964 02/22/93 12:28 EST
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Publication:PR Newswire
Date:Feb 22, 1993
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