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ANAHEIM, CA-United Dominion Realty Trust Inc., a real estate investment trust based in Richmond, Va., bought out the 36% interest of its investment partner in the 768-unit Grand Resort apartments.

The deal was part of a $17.5 million transaction in which United Dominion also acquired the remaining 36% interest in the 158-unit Pine Avenue apartments in Long Beach, Calif.

The Grand Resort is at 2235 W. Broadway in Anaheim. Built in 1971, it consists of studio, one- and two-bedroom apartments and is 95% occupied, with average rents of $973 and an average apartment size of 632 sf. The Pine Avenue Apartments are 95% occupied with average rents of $1,153 per unit and average apartment size of 734 sf.

United Dominion is one of the country’s largest multi-family real estate investment trusts. It owns approximately 78,000 apartments and has about 200 units under construction.

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