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UNITED DOMINION REALTY TRUST PURCHASES SIXTH COLUMBIA, S.C., APARTMENT COMMUNITY

 RICHMOND, Va., July 1 /PRNewswire/ -- United Dominion Realty Trust, Inc. (NYSE: UDR), announced today that it has purchased Forestbrook Apartments in Columbia, S.C., for $3,223,000 from individuals who had foreclosed on the property in May, 1992.
 Forestbrook is a 180-unit garden style community located on 12 acres on Platt Springs Road on the southwest side, about two miles from the airport, in Columbia. The property which was completed in 1974 consists of 11 two and three story buildings of wood frame construction with plywood siding and gable style roofs. The apartments are a mix of one, two and three bedroom garden and townhouse units which average 1,031 square feet. The community includes a clubhouse, swimming pool, lighted tennis court, playground and laundry facility. Occupancy is currently 91 percent. The trust plans to invest approximately $1 million making improvements to the property. The trust has received approval from the South Carolina State Housing Finance and Development Authority for tax exempt bond financing for the acquisition and improvements.
 Richard B. Chess, vice president and director of acquisitions, stated that Forestbrook, in southwest Columbia is in a different area than the trust's other five Columbia communities. He noted that the purchase price, $18,000 per unit, was only $17 per square foot. While the property has a lot of deferred maintenance and would benefit from other improvements, the property is well occupied, and the trust believes that it can retain high occupancy while making the improvements.
 Barry M. Kornblau, senior vice president-apartments, stated that the trust was attracted by the mix of units, 87 percent two and three bedrooms, washer/dryer connections and more than one bath in all of the two and three bedroom units as well as their above average size. He indicated that in 1991, the trust had renovated Plum Chase in Columbia using tax exempt bond financing provided through the South Carolina State Housing Finance and Development Authority, and was pleased with the experience and the results.
 With the purchase of Forestbrook, United Dominion now owns 15,498 apartment units in the Southeast, from Baltimore/Washington 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 into 1994. In the first two quarters of 1993, the trust acquired seven apartment properties containing 1,666 units for approximately $50 million. United Dominion is a self-administered equity real estate investment trust, and its common stock is traded on the New York Stock Exchange under the symbol "UDR."
 -0- 7/1/93
 /CONTACT: Richard B. Chess, director of acquisitions, or W. Brand Inlow, senior real estate analyst, both of United Dominion Realty Trust, 804-780-2691/
 (UDR)


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

IH-DS -- DC051 -- 7961 07/01/93 17:25 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
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