Udr, Inc. · NYSE:UDR
Udr — United Dominion Realty Trust — Investor Presentation (March 2005)
31 slides from Udr's investor presentation, Mar 1, 2005
Slide 1: Mature Market Trends As of January 2005
Mature Market Trends As of January 2005 P R E D I C T A B I L I T Y through H I G H P E R F O R M A N C E
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements contained in this presentation, which are not historical facts, are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the Company's use of words such as, "e
Slide 3: Index of Mature Markets
_,index of Mature Markets o %Mature % Total rket Noi? Portfolio NOI ‘ Definitions Total Matures 63,893 Atlanta 1,426 1.8% 1.3% Austin 4,116 1.2% 1.1% Baltimore 1,470 3.3% 3.7% Charlotte 2,034 2.2% 2.1% Columbia, SC 1,584 2.0% 1.6% Columbus 2,530 3.7% 3.0% Dallas 3,123 3.9% 3.7% Denver 1,484 2.1% 1.7
Slide 4: Definitions
Definitions Term Mature Commurity Net Rent Concessions Occupancy Number of Accounting Days in Month The Company deines mature communities as all mutifamily commurities awned end stabilzed fe at least one year as ofthe besinring ofthe most recent quatter. Net rent includes all ental income and fees t
Slide 5: Total Matures
Total Matures - 64,018 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0294 0.0286 0.0286 0.0302 0.03 0.0313 0.0329 0.0318 0.0294 0.0274 0.0313 0.0354 0.0308 Net Rent (000) 42022 42227 42554 42493 42594 42489 42417
Slide 6: Atlanta
Atlanta - 1,426 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0212 0.0175 0.0155 0.0462 0.0252 0.0277 0.0283 0.0177 0.013 0.0111 0.018 0.024 0.0204 Net Rent 793 816 797 796 805 817 801 816 812 802 795 796 799 Acco
Slide 7: Austin
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1999 0.9511 0.9626 0.9417 0.9197 0.9161 0.9089 0.9165 0.9458 0.9691 0.9806 0.9697 0.9714 2000 0.9502 0.9458 0.9571 0.9686 0.969 0.9594 0.9585 0.9661 0.9682 0.9779 0.9765 0.9719 2001 0.9716 0.9636 0.912 0.8571 0.8029 0.7643 0.7299 0.7301 0.7277 0.7687 0
Slide 8: Baltimore
Baltimore - 1,470 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0167 0.0107 0.0068 0.0111 0.0118 0.0089 0.0056 0.0119 0.0053 0.0159 0.014 0.024 0.016 Net Rent 1269 1264 1290 1293 1295 1284 1299 1314 1321 1318 132
Slide 9: Charlotte
Charlotte - 2,034 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0256 0.0179 0.0115 0.0186 0.0174 0.0129 0.0179 0.013 0.0123 0.0134 0.02 0.0167 0.0225 Net Rent 1093 1114 1110 1080 1112.511 1083 1087 1116 1102 1092
Slide 10: Columbia, SC
Columbia, SC - 1,584 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0416 0.0346 0.0399 0.0356 0.037 0.025 0.0306 0.015 0.0136 0.0214 0.027 0.0322 0.0293 Net Rent 862 881 856 887 892 904 900 918 893 874 883 869 891
Slide 11: Columbus
Columbus - 2,530 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0225 0.0213 0.0327 0.0355 0.0294 0.0327 0.043 0.0611 0.039 0.0319 0.039 0.0334 0.0409 Net Rent 1547 1550 1580 1570 1574 1571 1523 1524 1566 1547 1538
Slide 12: Dallas
Dallas - 3,123 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.022 0.024 0.0278 0.0261 0.0291 0.0312 0.0268 0.0276 0.027 0.0236 0.024 0.027 0.0294 Net Rent 1881 1854 1845 1848 1854 1830 1851 1830 1819 1822 1828 181
Slide 13: Denver
Denver - 1,484 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.175 0.186 0.225 0.225 0.219 0.23 0.226 0.2265 0.2258 0.2304 0.261 0.262 0.2224 Net Rent 897 877 892 879 883 881 894 909 887 893 868 866 865 Accounting
Slide 14: Ft Worth
Ft Worth - 2,656 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0215 0.0183 0.0179 0.0242 0.0218 0.0311 0.0301 0.0194 0.0182 0.0228 0.019 0.0274 0.028 Net Rent 1584 1592 1571 1555 1544 1533 1547 1573 1565 1559 153
Slide 15: Greensboro
Greensboro - 2,123 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0072 0.007 0.0099 0.0072 0.0093 0.0078 0.0168 0.011 0.0062 0.0066 0.01 0.0127 0.0176 Net Rent 1154 1158 1162 1179 1167 1140 1137 1165 1179 1176 118
Slide 16: Houston
Houston - 4,715 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0164 0.0142 0.0176 0.0205 0.0239 0.0243 0.0322 0.0257 0.0287 0.0318 0.0294 0.025 0.0259 Net Rent 2656 2651 2683 2658 2656 2639 2623 2634 2614 2588 259
Slide 17: Jacksonville
Jacksonville - 1,157 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0146 0.0108 0.0076 0.0096 0.0131 0.0154 0.0212 0.0188 0.0201 0.0116 0.017 0.0359 0.0251 Net Rent 761 749 766 757 768 763 749 754 753 745 750 766
Slide 18: Metro DC
Metro DC - 1,086 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '04 Jan Concess % of Net Rent 0.0143 0.0173 0.0196 0.028 0.0226 0.016 0.0141 0.0096 0.0134 0.028 0.0528 0.0476 0.0319 Net Rent 1001 1009 1043 1012 1044 1046 1080 1103 1075 1039 1043
Slide 19: Monterey (Salinas)
Monterey (Salinas) - 765 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0075 0.0067 0.0152 0.0155 0.007 0.0052 0.0068 0.0096 0.0042 0.0021 0.0071 0.014 0.0241 Net Rent 679 680 669 688 707 710 699 711 715 720 697 6
Slide 20: Nashville
Nashville - 2,220 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0211 0.0188 0.0164 0.0135 0.0188 0.012 0.0151 0.0169 0.0124 0.0103 0.014 0.0182 0.0154 Net Rent 1363 1360 1393 1393 1380.546 1415 1389 1410 1400 139
Slide 21: Norfolk VA Beach
Norfolk VA Beach - 1,438 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0055 0.0064 0.0059 0.0087 0.0134 0.0097 0.0154 0.0061 0.0061 0.0105 0.0211 0.039 0.0162 Net Rent 1057 1069 1071 1083 1073.903 1092 1087 1114
Slide 22: Northern California
Northern California - 1,894 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0283 0.0244 0.025 0.0355 0.0367 0.0286 0.0392 0.0356 0.022 0.0173 0.0371 0.0398 0.0388 Net Rent 2027 2032 2037 2003 2013 2050 2007 2006 20
Slide 23: Orlando
'04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0204 0.0175 0.0216 0.0135 0.0153 0.0175 0.0156 0.0194 0.0176 0.0141 0.0097 0.0093 0.0089 Net Rent 2680 2708 2720 2735 2732 2742 2751 2788 2880 2877 2909 2878 2907 Accountin
Slide 24: Phoenix
Phoenix - 1,776 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.1328 0.1436 0.1254 0.13 0.121 0.1312 0.1331 0.152 0.1557 0.1338 0.1312 0.1635 0.103 Net Rent 1193 1201 1221 1217 1230 1205 1180 1188 1192 1216 1238 11
Slide 25: Portland
Portland - 994 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0524 0.0332 0.0415 0.0566 0.0724 0.0834 0.0789 0.097 0.0799 0.0747 0.063 0.0427 0.039 Net Rent 630 646 659 650 627 624 621 617 640 641 648 648 664 Acco
Slide 26: Raleigh Durham
Raleigh Durham - 3,663 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0272 0.0191 0.0226 0.0249 0.0353 0.0469 0.049 0.0366 0.0304 0.0291 0.027 0.027 0.0186 Net Rent 2180 2210 2195 2197 2183 2144 2141 2161 2175 221
Slide 27: Richmond Petersburg
Richmond Petersburg - 1,796 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0257 0.0257 0.0198 0.0226 0.0078 0.0268 0.0149 0.0222 0.0191 0.0208 0.036 0.0385 0.0271 Net Rent 1201 1223 1239 1235 1246 1231 1243 1259 1
Slide 28: Seattle
Seattle - 1,575 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0456 0.0477 0.0316 0.0493 0.0458 0.0388 0.0426 0.058 0.07 0.0538 0.043 0.0528 0.0679 Net Rent 1131 1108 1139 1134 1131 1128 1085 1078 1099 1093 1113 1
Slide 29: Southern California
Southern California - 2,006 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0202 0.0171 0.0193 0.0155 0.0151 0.0205 0.0137 0.018 0.0278 0.0116 0.016 0.0224 0.0248 Net Rent 2143 2189 2213 2198 2217 2219 2227 2238 22
Slide 30: Tampa
Tampa - 3,836 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0394 0.0439 0.0441 0.0366 0.0366 0.0393 0.0351 0.0349 0.0349 0.0303 0.035 0.0379 0.0332 Net Rent 2529 2545 2567 2597 2581 2591 2616 2642 2636 2662 2678
Slide 31: Wilmington
Wilmington - 1,868 Homes '04 Jan '04 Feb '04 Mar '04 Apr '04 May '04 Jun '04 Jul '04 Aug '04 Sep '04 Oct '04 Nov '04 Dec '05 Jan Concess % of Net Rent 0.0334 0.0341 0.0214 0.019 0.0144 0.0147 0.0138 0.0042 0.0021 0.003 0.005 0.0055 0.0082 Net Rent 1086 1085 1111 1116 1151 1160 1166 1218 1212 1200 11
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