The REIT's annual report shows net income of over $2.8 million or 58 cents per share, compared to a net income of $716,000 or 15 cents per share for the same period in 1999. The firm also reported an increase in net rental income of $16.4 million, compared with $15..5 million in 1999.
In a prepared statement, the company says the biggest contributors to the increase was the hike in the firm's overall occupancy rate which went from 93.7% in 1999 to 95.9% in 2000.
Roberts Realty owns multi-family residential properties as a self-administered and self-managed equity REIT. By year-end 2000, the firm owned eight completed and multifamily communities with 1,633 units.
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