UDR, Inc.

UDR, Inc.
Public company
Traded as NYSE: UDR
S&P 500 Index component
Industry Real estate investment trust
Founded 1972 (1972)
Headquarters Highlands Ranch, Colorado
Key people
 Thomas W. Toomey, Chairman, CEO & President
Joseph D. Fisher CFO
Products Apartments
Revenue Increase $0.984 billion (2017)
Decrease $0.132 billion (2017)
Total assets Increase $7.733 billion (2017)
Total equity Decrease $2.825 billion (2017)
Number of employees
 1,542 (2017)
Website www.udr.com
Footnotes / references
[1]

UDR Inc. (formerly United Dominion Realty) is a publicly-traded real estate investment trust that invests in apartments. The company is organized in Maryland with its headquarters in Highlands Ranch, Colorado. As of December 31, 2017, the company owned interests in 127 apartment communities containing 39,998 apartment units.[1]

History

The company was founded in Highlands Ranch, Colorado 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 September 2010, the company announced the acquisition of 5 properties for $455.1 million.[5]

In June 2011, the company sold a 185-unit apartment complex in Washington, D.C. for $104 million.[6]

In 2011, the company acquired several properties in New York City, including 95 Wall Street for $325 million[7] and 21 Chelsea for $138 million.[8]

In January 2012, in partnership with Metlife, the company acquired Columbus Square, New York City for $630 million.[9]

In December 2012, Tom Herzog was named chief financial officer of the company.[10]

In 2014, the company sold a portfolio of properties in Tampa, Florida for $80 million.[11]

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.[12][13][14]

In March 2016, the company was added to the S&P 500 Index.[15]

In May 2016, the company sold a shopping center in Bellevue, Washington for $45.35 million.[16] The center had been acquired 10 years earlier for $31.5 million.[16]

References

  1. 1 2 3 "UDR Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "UDR". Crunchbase.
  3. ↑ Gupta, Manish (September 13, 2007). "UDR sells 2,710 homes, exits Atlanta and Denver markets". Reuters.
  4. ↑ Skinner, Melannie (May 27, 2008). "UDR Sells Health Care Facility for $27.36M". CoStar Group.
  5. ↑ "UDR to Acquire Five Operating Communities and One Pre-Sale Venture for $455.1 Million" (Press release). Business Wire. September 7, 2010.
  6. ↑ Plumb, Tierney (June 29, 2011). "UDR closes on View 14 sale". American City Business Journals.
  7. ↑ "UDR closes on $325M purchase of 95 Wall". The Real Deal. September 1, 2011.
  8. ↑ "UDR completes acquisition of 21 Chelsea". The Real Deal. August 26, 2011.
  9. ↑ Harden, Mark (January 13, 2012). "UDR venture buys Manhattan's Columbus Square apartment complex for $630M". American City Business Journals.
  10. ↑ Harden, Mark (December 18, 2012). "UDR names Amstar exec its new CFO". American City Business Journals.
  11. ↑ Kritzer, Ashley Gurbal (July 7, 2014). "Portfolio of waterfront Tampa apartment properties fetches $80 million". American City Business Journals.
  12. ↑ "UDR Completes Washington, DC Acquisition" (Press release). PR Newswire. October 7, 2015.
  13. ↑ "UDR Completes Previously Announced Disposition of 8 Communities for $284 Million" (Press release). PR Newswire. December 9, 2015.
  14. ↑ Freeman, Sean (October 9, 2015). "UDR Wraps Up $901 Million Purchase of 3,000+ Unit Multifamily Portfolio in Greater D.C." CoStar Group.
  15. ↑ "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.
  16. 1 2 Stiles, Marc (May 4, 2016). "Colorado owner sells Seattle-area retail complex for $45 million". American City Business Journals.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.