UDR•Apollo and UDR plan a joint venture owning 19 apartment communities valued at approximately $2 billion. Apollo-managed funds and affiliates will invest $1.34 billion for about two-thirds of the venture, while UDR will retain one-third and manage the portfolio.
Apollo and UDR plan to form a joint venture owning 19 apartment communities valued at approximately $2 billion. Apollo-managed funds and affiliates will invest $1.34 billion for an approximately two-thirds stake; UDR will retain a one-third stake and manage the portfolio for an asset management fee. Starting at the closing's fifth anniversary, UDR can repurchase its partner's stake at an expected 7%-7.5% fixed return for a limited period. The transaction is expected to close on October 29, 2026, subject to documentation and customary closing conditions.
