Udr, Inc. · NYSE:UDR
Udr — Investor Presentation (November 2008)
56 slides from Udr's investor presentation, Nov 10, 2008
Slide 1: The Right Properties in the Right Markets Third Quarter 2008
The Right Properties in the Right Markets Third Quarter 2008
Slide 2: Table of Contents
1 Portfolio Overview 3 Orange County, CA 7 Metro D.C. 11 San Francisco Bay Area, CA 15 Tampa, FL 19 Seattle, WA 23 Baltimore, MD 27 LA County, CA 31 Orlando, FL 35 Richmond, VA 39 Dallas, TX 43 Nashville, TN 47 San Diego County, CA 51 Monterey, CA 53 Jacksonville, FL 55 Norfolk / Virginia Beach, VA
Slide 3: UDR Portfolio Characteristics
UDR (NYSE:UDR) is a leading multifamily real estate investment trust (REIT) with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S. markets. For ove
Slide 4: UDR has transformed its portfolio through sales and reinvestment
UDR has transformed its portfolio by completing a $1.7 billion sale of 25,684 homes and reinvesting $951 million to aquire 4,093 homes in 12 new communities. % NOI YTD As a result of these transactions: • Our properties are concentrated in markets with high rent growth, strong job growth and low sin
Slide 5: Orange County, CA
Villa Venetia Pine Brook Village Harbor at Mesa Verde Huntinaton Vilas
Slide 6: Orange County, CA
Coronado North Pine Brook: Village
Slide 7: Orange County, CA
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Pacific Palms 97.5 % $ 1,369 2 Harbor at Mesa Verde K/B 94.6 % 1,640 3 Coronado North K/B 94.3 % 1,489 4 Missions at Back Bay K/B 96.9 % 1,521 5 Vista del Rey K/B 96.8 % 1,434 6 Foxborough 97.0 % 1,810 7 Huntington V
Slide 8: Metro D.C.
sr Sullivan Place - Acquired 4Q 2007
Slide 9: Metro D.C.
_ Taylor Place ‘Andover House Undergoing Redevelopment Acquired 10 2007
Slide 10: Metro D.C.
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Dominion Middle Ridge K/B 96.9 % $ 1,310 2 Dominion Lake Ridge K/B 94.7 % 1,274 3 Presidential Greens K/B 96.1 % 1,134 5 Ridgewood I K/B 96.4 % 1,421 6 The Calvert K/B 96.0 % 1,357 7 Waterside Towers K/B 98.6 % 1,518
Slide 11: San Francisco
San Francisco
Slide 12: San Francisco Bay Area, CA
ioe o Highlands of Marin - Acquired 4 2007
Slide 13: San Francisco Bay Area, CA
Operating Properties # Homes Year Built ReDev Redev. Occupancy Inc. per Occ. Home 1 2000 Post Street I K/B 98.1 % $ 2,320 2 Birch Creek 97.2 % 1,792 3 Highlands of Marin Full 94.8 % 1,676 4 Marina Playa 97.4 % 1,708 5 Crossroads Apartments K/B 94.4 % 1,449 6 River Terrace 97.8 % 2,111 7 Lake Pines 9
Slide 14: Tampa
Tampa
Slide 15: Tampa, FL
Island Walk Redeveloped 2007 Vintage Lofts - Acquired 3 2008 Jn Development - Expected Completion 1Q ‘09
Slide 16: Tampa, FL
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Summit West — 92.9 % $ 2 Lakewood Place K/B 94.2 % 3 Hunters Ridge K/B 91.7 % 4 Bay Meadows K/B 95.5 % 5 Cambridge Woods K/B 93.8 % 6 Sugar Mill Creek K/B 96.2 % 7 Inlet Bay at Gateway Full 94.9 % 8 MacAlpine Place —
Slide 17: Seattle, WA
Island Square ~ Acquired 30 2008 jata 2Q 2007
Slide 18: Seattle, WA
sr The Hawinome = Ashwood Commons ‘Active Development ~ Unconsolidated Joint-Venture Estimated Compietion 3Q 2003
Slide 19: Seattle, WA
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Hilltop K/B 97.2 % $ 1,010 2 Crown Pointe K/B 96.0 % 3 Arbor Terrace K/B 95.4 % 4 Aspen Creek — 95.5 % 5 The Hawthorne Apartments — 97.9 % 1,401 6 The Kennedy Building — 94.8 % 1,679 8 Borgata Apartment Homes K/B 96.
Slide 20: Baltimore, MD
mN Ellicott Grove KK Redeveloped 2008
Slide 21: Baltimore
Baltimore
Slide 22: Baltimore, MD
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Dominion Kings Place K/B 97.2 % $ 1,198 2 Dominion at Eden Brook K/B 96.5 % 1,233 3 Dominion Constant Friendship K/B 97.0 % 1,142 4 Lakeside Mill K/B 96.9 % 1,102 5 Tamar Meadow K/B 95.8 % 1,425 6 Calvert’s Walk K/B
Slide 23: Los Angeles County
Los Angeles County
Slide 24: LA County, CA
velopment Completed
Slide 25: LA County, CA
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 The Crest at Phillips Ranch K/B 94.5 % $ 1,588 2 Rosebeach K/B 93.6 % 1,447 3 The Villas at San Dimas K/B 95.5 % 1,500 4 The Villas at Bonita — 95.3 % 1,496 5 Ocean Villa — 97.3 % 1,471 Subtotal 1,052 94.9 % 1,529 No
Slide 26: Orlando, FL
Regatta Shores- Redeveloped 2007
Slide 27: Orlando, FL
Altamira Place - Redeveloped 2007 1 is i} ‘The Place at Millenia - Presale Phase | - Completed 2008 Phase Il - Expected Completion 2010
Slide 28: Orlando, FL
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Seabrook — 89.4 % $ 2 Regatta Shores Full 88.3 % 3 Alafaya Woods Full 89.8 % 1,002 4 Los Altos K/B 91.2 % 5 Lotus Landing K/B 90.5 % 6 Seville on the Green — 94.5 % 7 Ashton at Waterford Lakes Full 95.8 % 1,147 8 Arb
Slide 29: Richmond, VA
A Legacy at Mayland y re Redeveloped 2007
Slide 30: Richmond, VA
Gayton Pointe Redeveloped 2008
Slide 31: Richmond, VA
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Dominion Olde West Full 93.4 % $ 2 Dominion Creekwood K/B 96.0 % 3 Dominion West End K/B 97.9 % 4 Waterside at Ironbridge K/B 94.0 % 5 Carriage Homes at Wyndham K/B 95.8 % 1,350 6 Legacy at Mayland Full 98.1 % 1,054
Slide 32: Dallas
Dallas
Slide 33: Dallas, TX
Riachi at One21 Phase | - Completed 2008 Phase Il - Expected Completion 2009 Vitruvian Park Phase | - Expected Completion 2010
Slide 34: Dallas, TX
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Thirty377 K/B 95.5 % $ 1,647 Subtotal** 95.5 % 1,647 Non-Mature and Other 2 Lincoln at Towne Square (JV) — 81.3 % 3 Meridian II, The (JV) — 96.7 % 4 Cliffs, The (JV) — 97.1 % 5 Mandolin, The (JV) — 96.2 % 1,000 6 Vil
Slide 35: Nashville, TN
Carrington Hills,
Slide 36: Nashville, TN
The Colonnade Breckenridge
Slide 37: Nashville, TN
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Legacy Hill K/B 95.2 % $ 2 Brookridge K/B 93.6 % 3 Breckenridge K/B 95.6 % 4 Hickory Run K/B 95.8 % 5 The Colonnade K/B 95.4 % 6 The Preserve at Brentwood K/B 95.6 % 1,006 7 Carrington Hills K/B 96.5 % 1,031 Subtotal
Slide 38: San Diego
San Diego
Slide 39: San Diego County, CA
xr Rancho Vallecitos & Summit at Mission Bay Held for Future Development
Slide 40: San Diego County, CA
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Presidio at Rancho del Oro K/B 94.4 % $ 1,273 2 Villas at Carlsbad K/B 94.9 % 1,569 3 Summit at Mission Bay — 97.4 % 1,296 4 Rancho Vallecitos K/B 94.9 % 1,528 5 Milazzo K/B 95.1 % 1,534 Grand Total 1,123 95.5 % $ 1,
Slide 41: Monterey, CA
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Garden Court — 99.6 % $ 2 Cambridge Court K/B 97.5 % 1,014 3 The Pointe at Westlake K/B 96.9 % 1,004 4 Laurel Tree K/B 95.6 % 5 Boranda Manor K/B 98.0 % 1,064 6 The Pointe at Northridge K/B 95.5 % 1,157 7 The Pointe
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Slide 43: Jacksonville, FL
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 The Antlers — 96.3 % $ 2 Green Tree Place K/B 95.4 % 3 St John’s Plantation K/B 93.4 % 4 Westland Park K/B 93.7 % Subtotal 1,557 94.7 % Non-Mature 5 The Kensley Apartment Homes — 89.9 % Subtotal 89.9 % Grand Total 1,
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Slide 45: Norfolk / Virginia Beach, VA
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Dominion Waterside/Lynnhaven K/B 93.9 % $ 1,003 2 Eastwind K/B 93.8 % 1,079 3 Heather Lake K/B 92.6 % 4 Woodscape — 94.4 % 5 Forest Lakes at Oyster Pt. K/B 95.4 % 6 Dominion Yorkshire Downs K/B 96.6 % 1,024 Grand Tot
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Slide 47: Inland Empire, CA
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Waterstone at Murietta K/B 93.3 % 1,112 2 Windemere/Sycamore Heights — 92.4 % 1,244 3 Verano at Town Square — 95.1 % 1,562 Grand Total 1,074 93.8 % $ 1,317
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Slide 49: Phoenix, AZ
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Finisterra — 92.7 % $ 2 Sierra Foothills — 93.3 % 3 Sierra Canyon — 94.2 % Sub Total 93.3 % Non-Mature 4 Sierra Palms (Held for Disposition) 82.5 % 5 Waterford Peoria (In lease-up) 39.0 % Sub Total 63.1 % Grand Total
Slide 50: Phoenix, AZ
Completed 3@ 2008 é 8
Slide 51: Sacramento, CA
Year Built Inc. per Operating Properties # Homes ReDev Redev. Occupancy Occ. Home 1 Woodlake Village K/B 93.4 % $ 2 Foothills Tennis Village K/B 95.0 % 1,068 Grand Total 93.9 % $
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Slide 53: Portland, OR
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Hunt Club K/B 95.5 % $ 2 Tualatin Heights K/B 95.5 % 1,023 3 Andover Park K/B 94.8 % 1,054 Grand Total 95.3 % $ 1,002
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Slide 55: Austin, TX
Year Built Inc. per Occ. Operating Properties # Homes ReDev Redev. Occupancy Home 1 Barton Creek Landing K/B 98.0 % $ Subtotal 98.0 % Non-Mature and Other 2 Red Stone Ranch (Texas JV) — 95.9 % 3 Lakeline Villas (Texas JV) — 97.5 % 4 Residences at The Domain 91.0 % 1,253 Subtotal** 91.0 % 1,253 Grand
Slide 56: Transformation for Growth: UDR's Strategies
Transformation for Growth: UDR’s Strategies