Udr, Inc. · NYSE:UDR
Udr — BMO Capital Markets 2010 North American Real Estate Conference
24 slides from Udr's conference presentation, Sep 15, 2010
Slide 1: BMO Capital Markets 2010 North American Real Estate Conference
Ridge at Blue Hills Braintree, MA 1818 Platinum Triangle Anaheim, CA Domain Brewers Hill Baltimore, MD Marina Pointe Marina del Rey, CA BMO Capital Markets 2010 North American Real Estate Conference September 2010 Garrison Square Boston, MA
Slide 2: UDR Overview
Portfolio UDR owns, acquires, renovates, develops, and manages apartment communities nationwide concentrated in markets with low single-family home affordability and job growth ahead of national average 53,197 homes in 184 communities(2) Average monthly same-store income per occupied home of $1,153
Slide 3: Compelling Acquisitions
Compelling Acquisitions According to the National Association of Realtors for full year 2009. As of June 30, 2010 pro forma for the acquisition of the 5 operating communities on page 4. High Quality Portfolio $1,936 total income per occupied home, 68% above current portfolio average Superior finishe
Slide 4: Acquisition Details
Acquisition Details Community Location Homes Purchase Price (M) Price per Home (K) Monthly Income per Occupied Home(1) Debt Assumed (M) Year Built / Renovated Actual / Anticipated Closing Date Operating 1818 Platinum Triangle Anaheim, CA 265 $70.5 $266.0 $1,838 NA 2009 8/19/10 Marina Pointe Marina d
Slide 5: UDR's Competitive Strengths
UDR's Competitive Strengths High Quality Portfolio with National Scale 53,197 apartment homes in 184 communities(1) Focused on markets with low home ownership affordability and above average job growth Continued Outperformance Greater than 95% same-store occupancy for the last five quarters Same-sto
Slide 6: Continued Portfolio Transformation
For same-store portfolio. Core markets include Southern California, Northern California, Metropolitan DC, Seattle and Baltimore. Includes the 5 operating communities on page 4. Continued Portfolio Transformation Substantially repositioned portfolio over the last five years Focused on markets with ab
Slide 7: Continued Outperformance
Continued Outperformance(1) Occupancy Occupancy of 95.8% versus peer average of 95.6% Operating Margin Operating margin of 66.4% versus peer average of 62.6% Revenue Decreased by 2.6% versus peer average decline of 3.3% Expenses Increased by 0.2% versus peer average increase of 1.3% NOI Decreased 3.
Slide 8: Strong Development and Redevelopment Capabilities
Strong Development and Redevelopment Capabilities Development(1) Current development pipeline consists of 1,104 homes in three communities with a total estimated cost of $218.2 million or $197,645 per home Invested $807.8 million, or $158,700 per home, in the development of 5,090 homes over the last
Slide 9: Acquisition Overview
Acquisition Overview
Slide 10: 1818 Platinum Triangle, Anaheim, CA
1818 Platinum Triangle, Anaheim, CA Year Built 2009 Homes 265 Average Home Size 1,041 Sq. Ft Monthly Inc. Per Occ. Home $1,838(1) Occupancy 91%(1) As of July 31, 2010.
Slide 11: 1818 Platinum Triangle, Anaheim, CA
Recently developed by The Hanover Company Well-located in the entertainment district of Anaheim Easy access to major transportation arteries and infrastructure Luxury community offering condo quality finishes and amenities Discount to construction cost Off-market transaction 1818 Platinum Triangle,
Slide 12: Marina Pointe, Marina del Rey, CA
Marina Pointe, Marina del Rey, CA Year Built 1993 Homes 583 Average Home Size 854 Sq. Ft. Monthly Inc. Per Occ. Home $1,707(1) Occupancy 94%(1) As of July 31, 2010.
Slide 13: Marina Pointe, Marina del Rey, CA
Marina Pointe, Marina del Rey, CA Acquisition will create a 1,051 home "pod" with two existing UDR communities located within two blocks Proximate to numerous entertainment and employment hubs Potential for revenue enhancing home upgrades
Slide 14: Marina Pointe, Marina del Rey, CA
Marina Pointe, Marina del Rey, CA
Slide 15: Garrison Square, Boston, MA
Garrison Square, Boston, MA Year Built 1887/1990 Homes 160 Average Home Size 956 Sq. Ft. Monthly Inc. Per Occ. Home $3,406(1) Occupancy 96%(1) As of July 31, 2010.
Slide 16: Garrison Square, Boston, MA
Garrison Square, Boston, MA One of three transactions marking strategic entry into the Boston market Core community located in the heart of Boston's historic Back Bay and South End neighborhoods Short walk to both the orange and green lines of the "T" Situated near major job centers Luxury community
Slide 17: Garrison Square, Boston, MA
Garrison Square, Boston, MA
Slide 18: Ridge at Blue Hills, Braintree, MA
Ridge at Blue Hills, Braintree, MA Year Built 2007 Homes 186 Average Home Size 1,114 Sq. Ft. Monthly Inc. Per Occ. Home $1,492(1) Occupancy 94%(1) As of July 31, 2010.
Slide 19: Ridge at Blue Hills, Braintree, MA
Ridge at Blue Hills, Braintree, MA One of three transactions marking strategic entry into Boston market Recently developed by The Hanover Company Excellent location with easy access to public transportation infrastructure and major traffic arteries Luxury community offering condo quality finishes an
Slide 20: Domain Brewers Hill, Baltimore, MD
Domain Brewers Hill, Baltimore, MD Year Built 2009 Homes 180 Average Home Size 1,093 Sq. Ft. Monthly Inc. Per Occ. Home $1,975(1) Occupancy 96%(1) As of July 31, 2010.
Slide 21: Domain Brewers Hill, Baltimore, MD
Domain Brewers Hill, Baltimore, MD Recently developed by The Hanover Company Well-located close to major employment hubs and Baltimore's Inner Harbor Luxury community offering condo quality finishes and amenities Discount to construction cost Off-market transaction
Slide 22: Lodge at Stoughton, Stoughton, MA
Lodge at Stoughton, Stoughton, MA One of three transactions marking strategic entry into the Boston market Development pre-sale venture with an affiliate of The Hanover Company Will be built with high quality finishes consistent with other recently acquired communities developed by The Hanover Compa
Slide 23: Forward-Looking Statement
Forward-Looking Statement Certain statements made in this presentation may constitute "forward-looking statements." Words such as "expects," "intends," "believes," "anticipates," "likely," "will," " seeks," "estimates" and variations of such words and similar expressions are intended to identify suc
Slide 24: Investor Relations Contact
Investor Relations Contact: H. Andrew Cantor acantor@udr.com 720.283.6083
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