UDR Announces Formation Of $510M Joint Venture
Portfolio Pulse from Happy Mohamed
UDR, Inc., a multifamily real estate investment trust, has announced a $510 million joint venture with LaSalle Investment Management. UDR will contribute four communities totaling 1,328 apartment homes into the joint venture and retain a 51% ownership. The company will receive approximately $250 million in cash proceeds. The joint venture will initially have no debt and is expected to be accretive to FFOA and cash flow per share in the first year.
June 29, 2023 | 8:41 pm
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UDR's joint venture with LaSalle Investment Management could lead to increased revenues and cash flow per share, which may positively impact the company's stock price in the short term.
The joint venture will provide UDR with $250 million in cash proceeds and potential for increased revenues through asset management, property management, financing, and construction management fees. This could lead to improved financial performance and potentially a positive impact on the stock price.
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