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Article: United Dominion Realty Trust and South West Property Trust announce merger agreement.
- Article from:
- Business Wire
- Article date:
- October 1, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS--(BUSINESS WIRE)--Oct. 1, 1996--United Dominion Realty Trust, Inc. (NYSE: UDR) and South West Property Trust Inc. (NYSE: SWP) today announced the execution of a definitive Agreement pursuant to which South West would be merged into United Dominion.
The merger, which was unanimously approved by both Boards of Directors, will combine South West's 14,975 apartment homes (including its development portfolio), 80 percent of which are in Texas, with United Dominion's 41,004 apartment homes in the Southeast.
Following the merger, United dominion, with 55,979 apartment homes in 210 communities, will be the largest REIT developer, owner and manager of apartments ...