UDR Completes Previously Announced Disposition of 15 Communities for $477 Million
DENVER--(BUSINESS WIRE)-- UDR, Inc. (the "Company") (NYSE: UDR), a leading multifamily real estate investment trust, today announced that it has completed the previously announced disposition of 15 unencumbered communities comprising 4,931 homes located in Phoenix, AZ; Jacksonville, FL; Dallas, TX and Richmond, VA for $477 million in gross proceeds. The Company exited the Phoenix, AZ and Jacksonville, FL markets with the completion of the sales.
About UDR, Inc. (UDR)
UDR, Inc. (NYSE: UDR), an S&P 400 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S. markets. As of March 31, 2012, UDR owned or had an ownership position in 60,211 apartment homes including 2,972 homes under development. For over 39 years, UDR has delivered long-term value to shareholders, the best standard of service to residents, and the highest quality experience for associates. Additional information can be found on the Company's website at www.udr.com.
Chris Van Ens, 720-348-7762
Source: UDR, Inc.Copyright Business Wire 2012