Town and Country Trust grows in Delaware

Acquisition involves 1031 exchange
Published on Oct 10, 2005

The Town and Country Trust has acquired Brandywine Woods, an apartment community in Bear, Del. The value of the transaction was not disclosed. Brandywine Woods was completed in 2000 and contains 264 garden-style apartments and one townhome. The property features a unit mix consisting of 57 percent one-bedroom units and 43 percent two-bedroom units. Amenities include a swimming pool, tennis court and fitness center. The property was acquired through an intermediary in anticipation of the completion of a like-kind exchange under Section 1031 of the Internal Revenue Code. The Town and Country Trust is a Baltimore-based, multifamily real estate investment trust that now owns and operates 13,330 apartment homes in 39 communities in the Mid-Atlantic and Southeast. *** What's your opinion? Send your Letter to the Editor to [email protected]...

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