UDR, Inc.

UDR, Inc.
Public company
Traded as NYSE: UDR
S&P 500 Component
Industry Real Estate
Founded 1972[1]
Headquarters Highlands Ranch, Colorado
Key people
 Thomas W. Toomey, Chief Executive Officer and President
James D. Klingbeil, Chairman
Joseph D. Fisher. CFO[1]
Products Apartments
Revenue Increase US$0.959 billion (2016)[1]
Decrease US$0.320 billion (2016)[1]
Total assets Increase US$7.679 billion (2016)[1]
Total equity Increase US$3.096 billion (2016)[1]
Number of employees
 1,550 (2016)[1]
Website www.udr.com

UDR Inc. (formerly United Dominion Realty) is a publicly-traded real estate investment trust based in Highlands Ranch, Colorado that invests in apartments.[1]

As of December 31, 2016, the company owned interests in 127 apartment communities containing 39,454 apartment units.[1]

History

The company was founded in 1972.[1]

On January 13, 1978, the company became a public company via an initial public offering.[2]

In 2007, the company sold 9 apartment complexes containing 2,710 apartment units for $281 million.[3]

In 2008, the company sold a healthcare facility in Glen Burnie, Maryland for $27.36 million.[4]

In 2011, the company sold a 185-unit apartment complex in Washington, D.C. for $104 million.[5]

In 2011, the company acquired several properties in New York City, including 95 Wall Street for $325 million[6] and 21 Chelsea for $138 million.[7]

In 2012, in partnership with Metlife, the company acquired Columbus Square, New York City for $630 million.[8]

In 2012, Tom Herzog was named chief financial officer of the company.[9]

In 2014, the company sold a portfolio of properties in Tampa, Florida for $80 million.[10]

In 2015, the company acquired 6 properties in the Washington, D.C. metropolitan area from Home Properties for $901 million and sold 8 properties for $284 million.[11][12][13]

In 2016, the company was added to the S&P 500 Index.[14]

In 2016, the company sold a shopping center in Bellevue, Washington for $45.35 million.[15] The center had been acquired 10 years earlier for $31.5 million.[15]

References

  1. 1 2 3 4 5 6 7 8 9 10 UDR Inc. 2016 Form 10-K Annual Report
  2. ↑ "UDR". Crunchbase.
  3. ↑ "UDR sells 2,710 homes, exits Atlanta and Denver markets". Reuters. September 13, 2007.
  4. ↑ Skinner, Melannie (May 27, 2008). "UDR Sells Health Care Facility for $27.36M". CoStar Group.
  5. ↑ Plumb, Tierney (June 29, 2011). "UDR closes on View 14 sale". American City Business Journals.
  6. ↑ "UDR closes on $325M purchase of 95 Wall". The Real Deal (magazine). September 1, 2011.
  7. ↑ "UDR completes acquisition of 21 Chelsea". The Real Deal (magazine). August 26, 2011.
  8. ↑ Harden, Mark (January 13, 2012). "UDR venture buys Manhattan's Columbus Square apartment complex for $630M". American City Business Journals.
  9. ↑ Harden, Mark (December 18, 2012). "UDR names Amstar exec its new CFO". American City Business Journals.
  10. ↑ Kritzer, Ashley Gurbal (July 7, 2014). "Portfolio of waterfront Tampa apartment properties fetches $80 million". American City Business Journals.
  11. ↑ "UDR Completes Washington, DC Acquisition" (Press release). PR Newswire. October 7, 2015.
  12. ↑ "UDR Completes Previously Announced Disposition of 8 Communities for $284 Million" (Press release). PR Newswire. December 9, 2015.
  13. ↑ Freeman, Sean (October 9, 2015). "UDR Wraps Up $901 Million Purchase of 3,000+ Unit Multifamily Portfolio in Greater D.C.". CoStar Group.
  14. ↑ "UDR Set to Join the S&P 500; Healthcare Realty Trust to Join S&P MidCap 400; Proto Labs to Join S&P SmallCap 600" (Press release). PR Newswire. March 3, 2016.
  15. 1 2 Stiles, Marc (May 4, 2016). "Colorado owner sells Seattle-area retail complex for $45 million". American City Business Journals.
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