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UNITED DOMINION REALTY TRUST PURCHASES THIRD NASHVILLE APARTMENT COMMUNITY

 RICHMOND, Va., Dec. 13 /PRNewswire/ -- United Dominion Realty Trust, Inc. (NYSE: UDR) announced that it has purchased Harbour Town Apartments in Nashville, Tenn., for $4,037,500 from Harbour Town, Limited Partnership of Nashville. Harbour Town is a 185 unit garden and townhouse community located on 16 acres on Smith Springs Road on the southside of Percy Priest Reservoir.
 Harbour Town, constructed in 1974, consists of 12 two and three- story masonry and wood frame buildings with stucco over concrete block, cedar shake mansards and flat roofs. The apartments are a mix of one-, two- and three-bedroom units that average 990 square feet. The community includes a clubhouse, swimming pool, tennis courts, laundry room and playground. The trust plans to invest approximately $450,000 enhancing the community and the individual apartments. The property is currently 98 percent occupied.
 Richard B. Chess, vice president and director of acquisitions, stated that Harbour Town was the trust's third Nashville acquisition in the past year, a market that the trust has targeted for additional apartment acquisitions in 1994. He noted that Harbour Town, at $22,000 per unit or $22 per square foot, represented a good value in a very good apartment market.
 Barry M. Kornblau, senior vice president-apartments, stated that the property offered an attractive-mix of units with 69 percent two- and three-bedrooms, larger than average floor plans and washer/dryer connections in the two- and three-bedroom apartments. He noted that Harbour Town fits very well with the trust's other two Nashville properties, 2131 and The Lakes.
 United Dominion, now owns 17,220 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. In the spring of 1991, the trust embarked on a major apartment acquisition program which it expects to continue at least into 1994. 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- 12/13/93
 /CONTACT: Richard B. Chess, director of acquisitions, or Milton A. Scott, Jr., assistant director of acquisitions, both of United Dominion Realty Trust, 804-780-2691/
 (UDR)


CO: United Dominion Realty Trust ST: Virginia, Tennessee IN: FIN SU: RLE

KD-PB -- DC018 -- 3195 12/13/93 13:20 EST
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Publication:PR Newswire
Date:Dec 13, 1993
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