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UDR Announces 2012 Community Dispositions And Capital Markets Activities

UDR, Inc. (the "Company") (NYSE: UDR), a leading multifamily real estate investment trust, today announced the disposition, and pending disposition, of 6,507 apartment homes in 21 non-core communities for gross, and net, proceeds of $610 million. Transaction details follow:
Disposition Activity  
Location   Communities     Homes    

Year Built/Renovated
   

Avg. Monthly Income per Occupied Home (1)
1Q12 Dispositions            
‘Other’ FL

4
900 1989 $742
Fredericksburg, VA

2
    676     1992     1,062
Total/Weighted Average 6 1,576 1990 $879
 
2Q12 Dispositions Under Contract
Phoenix, AZ 6 1,744 2002 $858
Jacksonville, FL 5 1,857 1990 794
Dallas, TX 2 477 2009 1,214
Richmond, VA 2     853     1986     933
Total/Weighted Average 15     4,931     1995     $881
 

Grand Total/Weighted Average
21 6,507 1994 $881

(1) As of December 31, 2011.
 

During the first quarter of 2012, the Company sold four ‘Other’ Florida and two Fredericksburg, VA communities for net proceeds of $133 million.

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