Udr, Inc. · NYSE:UDR
Udr — Investor Presentation (March 2012)
32 slides from Udr's investor presentation, Mar 12, 2012
Slide 1: Recent UDR Investment Activity
95 Wall New York, NY 10 Hanover Square New York, NY 21 Chelsea New York, NY View 14 Washington, D.C. Rivergate New York, NY Recent UDR Investment Activity Exhibit 99.2
Slide 2: Investment Activity: August 2010 - January 2012
Investment Activity: August 2010 - January 2012 Represents wholly-owned transactions completed from August 2010 - January 2012.. As of December 31, 2011. Acquisitions: $2.0 billion(1) 4,535 homes with an average age of 12 years and a weighted average monthly income of $2,451 per home Increased prese
Slide 3: 2010 Acquisitions
2010 Acquisitions Improved the growth profile of the portfolio through acquisitions in select core markets Represents monthly income per occupied home at the time of acquisition. Represents monthly income per occupied home growth through 4Q11.. $36 million redevelopment began in 3Q11. See slide 24 f
Slide 4: 1818 Platinum Triangle and Marina Pointe
1818 Platinum Triangle - Anaheim, CA Marina Pointe - Marina del Rey, CA Acquisition created a 1,051 home "pod" with two existing UDR communities located within two blocks Conveniently located with easy access to Venice, Santa Monica, Beverly Hills, and Los Angeles Currently undergoing a $36 million
Slide 5: Garrison Square and Ridge at Blue Hills
Garrison Square - Boston, MA Ridge at Blue Hills - Braintree, MA One of two acquisitions marking UDR's strategic entry into Boston market Recently developed by a leading private developer Excellent location with easy access to public transportation infrastructure and major traffic arteries Significa
Slide 6: Domain Brewers Hill and Portico at Silver Spring
Domain Brewers Hill - Baltimore, MD Recently developed by a leading private developer High-quality community and home amenities Significant discount to replacement cost Off-market transaction KFH JV: Portico at Silver Springs - Silver Springs, MD Acquired with its joint venture partner, Kuwait Finan
Slide 7: UDR/MetLife JV I
UDR/MetLife JV I As of September 30, 2010. As of December 31, 2011. Ashton Westwood - Los Angeles, CA Cirque - Dallas, TX Valued at $2.4 billion when formed. UDR had a 12.3% ownership interest in the 26 operating communities originally included in the joint venture
Slide 8: 2011 Acquisitions
2011 Acquisitions Improved the growth profile of the portfolio through acquisitions in select core markets Excludes commercial space and parking where applicable. Represents monthly income per occupied home at the time of acquisition. $60 million redevelopment began in 4Q11. See slide 28 for additio
Slide 9: Hanover Square and Beale
10 Hanover Square - New York, NY 388 Beale - San Francisco, CA Two-20 story high-rise towers, located in the urban Rincon Hill neighborhood of downtown San Francisco Community amenities include 24-hour concierge service, outdoor spa, state-of-the-art fitness center, social lounge, and a controlled a
Slide 10: North and Inwood West
14 North - Peabody, MA Inwood West - Woburn, MA The community offers a clubhouse with an indoor basketball court, state-of-the-art fitness center, beautifully landscaped picnic areas with barbeque grills and a children's play area Residents have an array of transportation options ranging from train
Slide 11: View 14 and Rivergate
View 14 - Washington, D.C. Rivergate - New York, NY 35-story high-rise containing 24,315 square feet of fully-leased commercial space and a 125-space parking garage Located in desirable Murray Hill neighborhood of Manhattan, with views overlooking the East River Occupies a full city block between 34
Slide 12: Chelsea and Wall
21 Chelsea - New York, NY 95 Wall - New York, NY 14-story high-rise with 1,600 square feet of fully leased retail space and a 152-space parking garage Located in the desirable Chelsea neighborhood on 21st Street between Sixth and Seventh Avenues $6 - $8 million redevelopment includes redesigned kitc
Slide 13: Twenty and 1301 Thomas Circle
Twenty 400 - Arlington, VA 1301 Thomas Circle - Washington, D.C. 10-story building constructed in 2006; located in the Logan Circle neighborhood near the 14th Street Corridor, less than a mile from the White House and close to Metrorail stations Just a short walk from two of the Company's other oper
Slide 14: 2012 - Formed UDR/MetLife JV II
2012 - Formed UDR/MetLife JV II UDR's owns a 50% interest in the 12-community joint venture. As of December 31, 2011. Valued at $1.3 billion when formed. UDR has a 50% ownership interest in the 12 operating communities included in the joint venture
Slide 15: UDR/MetLife Joint Venture II
UDR/MetLife Joint Venture II Newly formed JV wherein each party owns a 50% interest in a $1.3 billion portfolio of twelve operating communities containing 2,528 apartment homes: Seven of the twelve communities (1,818 homes) were contributed from the UDR/MetLife I joint venture Columbus Square (710 h
Slide 16: Columbus Square
Located on the Upper West Side of Manhattan Purchased by the newly formed joint venture for $630 million Partially funded through a combination of 10-year fixed and floating-rate debt totaling $302.3 million at an average rate of 3.8% Four of the five towers are located just one block from Central P
Slide 17: Columbus Square
Columbus Square All five buildings developed under the 421a program and have received real estate tax abatements that range from 10 to 20 years The well-amenitized high-rises sit above 392-parking spaces and 400,000 square feet of street-level retail, including a Whole Foods, Modell's, PetCo, Duane
Slide 18: Communities Contributed from UDR/MetLife I JV
Communities Contributed from UDR/MetLife I JV The seven communities contributed from the UDR/MetLife I JV (1,818 homes) are located in high- barrier-to-entry markets with above-average job growth, low homeownership affordability and limited new multifamily supply Monthly income per occupied home for
Slide 19: Development Pipeline
Development Pipeline Strategy: Focus development opportunities in select core markets that compliment and enhance UDR's existing portfolio such as Southern California, Northern California Washington, D.C., Boston and Dallas
Slide 20: Savoye2 and 2400 14th Street
Savoye2 - Addison, TX 2400 14th Street - Washington, D.C. High-rise community under construction in the District of Columbia; located across the street from newly acquired View 14 community Project is located in the U Street corridor, a magnet for D.C.'s young professionals, within walking distance
Slide 21: Village at Bella Terra and Mission Bay
Village at Bella Terra - Huntington Beach, CA Mission Bay - San Francisco, CA Located in the Mission Bay neighborhood of San Francisco and directly adjacent to AT&T park and a half mile from the Company's Edgewater community The mid-rise development is being built to meet LEED Gold standards and wil
Slide 22: Phase III Vitruvian Park and Los Alisos
Phase III Vitruvian ParkSM - Addison, TX Los Alisos - Mission Viejo, CA Community's convenient location provides residents with excellent access to freeways and job centers across Orange County, Irvine and Santa Ana Located directly adjacent to the site is Mission Foothill Marketplace, an 110,000-sq
Slide 23: Lodge at Stoughton and 13th & Market
Lodge at Stoughton - Stoughton, MA 13th & Market - San Diego, CA Located in the East Village neighborhood of downtown San Diego, directly across the street from the planned 4-acre East Village Green public park Walking distance to PETCO Park and only three blocks from the UDR/MetLife Strata communit
Slide 24: Domain College Park and Beach Walk
Domain College Park - College Park, MD Beach Walk - Huntington Beach, CA The 173 home, four-level community, is wrapped around a five-level parking garage providing 288 parking spaces and approximately one mile from the Pacific Ocean Located directly across the street from the Newland Center which c
Slide 25: Redevelopment Pipeline
Redevelopment Pipeline Strategy: Focus on generating strong risk-adjusted returns in key markets such as Manhattan, Southern California, Northern California and Washington, D.C.
Slide 26: Redevelopment Pipeline: CitySouth and Barton Creek Landing
Before Redevelopment After Redevelopment CitySouth - San Mateo, CA Budgeted Cost: $30.6 million Scheduled Completion: 2Q12 Barton Creek Landing - Austin, TX Budgeted Cost: $17.7 million Scheduled Completion: 2Q12 Redevelopment Pipeline
Slide 27: Redevelopment Pipeline: Marina Pointe
Before Redevelopment After Redevelopment Marina Pointe - Marina del Rey, CA Budgeted Cost: $36.1 million Scheduled Completion: 2Q13 Redevelopment Pipeline
Slide 28: Redevelopment Pipeline: The Calvert and Rivergate
Before Redevelopment After Redevelopment The Calvert - Alexandria, VA Budgeted Cost: $99.6 million Scheduled Completion: 1Q14 Redevelopment Pipeline Rivergate - Manhattan, NY Budgeted Cost: $60.0 million Scheduled Completion: 4Q13
Slide 29: Redevelopment Pipeline: Pine Brook and Villa Venetia
Before Redevelopment Redevelopment Pipeline Pine Brook I & II - Costa Mesa, CA Budgeted Cost: $38.7 million Scheduled Completion: 2Q14 Villa Venetia - Costa Mesa, CA Budgeted Cost: $36.6 million Scheduled Completion: 2Q14 After Redevelopment
Slide 30: Forward-Looking Statement
Forward-Looking Statement Certain statements made in this presentation may constitute "forward-looking statements." Words such as "expects," "intends," "believes," "anticipates," "plans," "likely," "will," "seeks," "estimates" and variations of such words and similar expressions are intended to iden
Slide 31: Notes
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Slide 32: Investor Relations Contact
Investor Relations Contact: Chris Van Ens cvanens@udr.com 720.348.7762