Udr, Inc. · NYSE:UDR
Udr — Non-Deal Roadshow (January 2012)
24 slides from Udr's roadshow presentation, Jan 12, 2012
Slide 1: UBS Roadshow - January 2012
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 UBS Roadshow - January 2012
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 in excess of the national average 62,037 homes in 218 communities(2) Total income per occupied home of $1,395(2) Leading Mul
Slide 3: Recent Activity
Recent Activity Acquisitions, Developments, Redevelopments and Disposition Activities - $2.9 billion Acquisition of 8 operating communities containing 3,161 apartment homes for $1.5 billion in key markets such as Manhattan, Washington, D.C., Boston and California(2) Announced 6 new developments cont
Slide 4: Business Strategy
Business Strategy As of September 30, 2011. As of September 30, 2011 and includes joint venture homes at 100%. Includes $359 million in September 2010 and $496 million in July 2011 follow on offerings; plus $368 million, $109 million and $68 million issued through our ATM equity program through Sept
Slide 5: Portfolio Transformation
Acquisitions focused in markets positioned for superior growth, such as Manhattan, Washington D.C., Boston and California Disposition of non-core communities in markets that do not fit UDR's long-term strategy Joint venture homes at 100% and investment at proportionate share. Represents monthly inco
Slide 6: UDR/MetLife Joint Venture II Executive Summary
UDR/MetLife Joint Venture II Executive Summary 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 existing UDR/MetLife joint ventu
Slide 7: UDR/MetLife JV II Operating Portfolio Statistics
UDR/MetLife JV II Operating Portfolio Statistics (1) As of December 31, 2011.
Slide 8: Columbus Square
808 Columbus 805 Columbus 795 Columbus 775 Columbus 801 Amsterdam (not pictured - 1 block west) 805 Columbus 808 Columbus 795 Columbus 775 Columbus 801 Amsterdam Central Park 14 Stories 63 Homes (79% Occupied) 697 Avg SF $3,818 In Place Rent Completed September 2011 29 Stories 359 Homes (97% Occupie
Slide 9: Columbus Square - New York, NY
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 10: Columbus Square
Columbus Square All five buildings were 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, D
Slide 11: Wholly-Owned Acquisitions Completed in 2011
Wholly-Owned Acquisitions Completed in 2011 Improved the growth profile of the portfolio through acquisitions in select core markets (1) Excludes commercial. (2) Represents monthly income per occupied home at the time of acquisition. 10 Hanover Square Location New York, NY Number of Homes 493 Purcha
Slide 12: Wholly-Owned Acquisitions Completed in 2011
View 14 Location Washington, D.C. Number of Homes 185 Purchase Price $105.5M Price per Home(1) $494,000 Income per Occupied Home(2) $2,808 Rivergate Location New York, NY Number of Homes 706 Purchase Price $443.0M Price per Home(1) $585,000 Income per Occupied Home(2) $3,262 95 Wall Location New Yor
Slide 13: Development and Redevelopment
Development(1) Strategy: Focus development opportunities in select core markets that compliment and enhance UDR's existing portfolio such as Southern California, Washington, D.C., Boston and Dallas Pipeline: 2,573 homes in ten communities with a total estimated cost of $751 million or $292 thousand
Slide 14: Development Pipeline
Development Pipeline Selectively pursuing development projects to complement our long-term growth strategy Savoye2 Location Addison, TX Number of Homes 347 Estimated Cost $69M Estimated Completion Date 1Q 2012 The Lodge at Stoughton Location Stoughton, MA Number of Homes 240 Estimated Cost $43M Esti
Slide 15: Development Pipeline
Development Pipeline Selectively pursuing development projects to complement our long-term growth strategy Phase III - Vitruvian ParkSM Location Addison, TX Number of Homes 391 Estimated Cost $98M Estimated Completion Date 3Q 2013 Beach Walk Location Huntington Beach, CA Number of Homes 173 Estimate
Slide 16: Development Pipeline
Development Pipeline Selectively pursuing development projects to complement our long-term growth strategy Mission Bay Location San Francisco, CA Number of Homes 315 Estimated Cost $140M Estimated Completion Date 3Q 2013 Domain College Park Location College Park, MD Number of Homes 256 Estimated Cos
Slide 17: Redevelopment Pipeline
Redevelopment Pipeline Current pipeline consists of 2,978 homes in seven communities with a total estimated cost of $337 million or $113 thousand per home Selectively pursuing opportunities in Manhattan, Southern California, Northern California and Metropolitan Washington, D.C. Before Redevelopment
Slide 18: Operational Performance
Operational Performance Occupancy Occupancy of 95.6% versus peer average of 95.6% Operating Margin Operating margin of 66% versus peer average of 64% Revenue Increased by 3.7% versus peer average of 4.0% Expenses Increased by 1.6% versus peer average of 0.4% NOI Increased 4.8% versus peer average of
Slide 19: Balance Sheet
Balance Sheet Financial profile as of September 30, 2011 Viridian - Los Angeles, CA $9.7 billion enterprise value(1) Existing debt of $4.0 billion, with a weighted average rate of 4.1% and 4.2 years to maturity Fixed charge coverage of 2.5x(2) Approximately $1.5 billion of new equity raised from 200
Slide 20: 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 21: Notes
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Slide 23: Notes
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Slide 24: Investor Relations Contact
Investor Relations Contact: Chris Van Ens cvanens@udr.com 720.348.7762