AUGUSTA, Ga. - Merry Land and Investment Co., a real estate investment trust, said it had concluded a supplemental $40 million unsecured credit facility with First Union National Bank of Georgia.

The credit, together with a previously arranged $50 million term loan and $40 million unsecured line of credit, will be used primarily to continue an apartment acquisition program. Of the $130 million in credit available, about $47 million has not been disbursed.

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