United Dominion Realty Trust Inc., Richmond, Va., has announced a public offering of 4 million shares of its common stock.The proceeds of the offering will be used to fund future acquisitions and for other general corporate purposes, but in the meantime they will be used to reduce outstanding variable-rate debt under unsecured credit facilities, United Dominion said. The company said it has granted the underwriter, Wachovia Securities, an option to buy up to 600,000 additional shares to cover any overallotments. United Dominion, a multifamily real estate investment trust, can be found online at http://www.udrt.com.
Processing Content
