ARLINGTON, Va., March 13 /PRNewswire/ -- Charles E. Smith Residential
Realty, Inc. (NYSE: SRW) announced today that its underwriter exercised the
over-allotment option of 405,000 common shares at $28.375 per share. The
funds will be used primarily to repay debt thereby reducing the company's debt
to market capitalization ratio to approximately 42%.
Charles E. Smith Residential Realty, Inc. is a self-managed Real Estate
Investment Trust that is the largest publicly traded multifamily real estate
company with operations focused on the greater Washington, D.C. area. The
company and its subsidiaries and affiliates own, acquire, develop and manage
multifamily residential properties, and provide related real estate services
to other property owners. Investor information including press releases about
Charles E. Smith Residential Realty is available on the company's Web site at
http://www.smithreit.com ... and also through PR Newswire's Company News On-
Call by fax, 800-758-5804, ext. 101271, or at: http://www.prnewswire.com.
SOURCE Charles E. Smith Residential Realty, Inc.
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CONTACT:
Bruce Snyder, 703-769-1029, or Denny Minami,
703-769-1020, both of Charles E. Smith
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