UDR · 8-K · 20261102PR000084

Acquisitions and Partnerships

UDR, Inc. · 2026-11-02 · Importance 65 · Surprise 60 · In source text

UDR closed a $2.0 billion strategic partnership with Apollo, contributing 19 apartment communities with 7,059 homes valued at an approximately 6.0% capitalization rate to a new joint venture. Apollo provided $1.34 billion of equity capital, while UDR retained an approximately one-third interest and will continue operating and managing the portfolio for an asset management fee. UDR also retained an option to repurchase Apollo’s interest at a 7.0% target IRR for a finite period beginning on the fifth anniversary of closing. The company said the transaction expands access to capital, reduces leverage, and improves the quality of its wholly owned portfolio.

Key facts

• UDR closed a previously announced $2.0 billion strategic partnership with Apollo, contributing 19 apartment communities totaling 7,059 homes to a new joint venture at an approximate 6.0% capitalization rate. source
• UDR received $1.34 billion of equity capital from Apollo, retained an approximate one-third interest in the joint venture, and will operate and manage the portfolio for an asset management fee. source
• UDR expanded its LaSalle Investment Management joint venture to approximately $958.3 million by contributing a 360-home Nashville, Tennessee apartment community and placing debt on that community and an existing venture community. source
• UDR retained an option to repurchase Apollo’s joint-venture interest at a 7.0% target IRR for a finite period starting at the fifth anniversary of closing. source
• UDR received approximately $103.2 million in cash proceeds from the LaSalle joint-venture transaction. source
• UDR appointed Scott McCallum as Chief Investment Officer subsequent to quarter-end. source

Impact estimates