Udr, Inc. · NYSE:UDR
Udr — NAREIT's Investor Forum - June 2010
16 slides from Udr's conference presentation, Jun 9, 2010
Slide 1: NAREIT's Investor Forum - June 2010
Edgewater - San Francisco, CA Delancey at Shirlington - Arlington, VA The Belmont - Dallas, TX 989 Elements and Elements Too - Bellevue, WA NAREIT's Investor Forum - June 2010
Slide 2: UDR Overview
MD 7% DC 12% VA 9% FL 16% 6% 4% 2% 38% 2% 4% 28% 44% UDR Overview National Portfolio Concentrated in markets with low single-family home affordability and job growth ahead of national average 51,471 homes in 179 communities(2) Average monthly revenue of $1,144 per home compared to national average o
Slide 3: UDR Priorities for 2010
UDR Priorities for 2010 Operations and Technology Focus on driving our technology initiatives to further improve operating platform and margins Redevelopment Opportunities Complete the current 862 homes currently being redeveloped in three communities 574 homes to be delivered in the third quarter o
Slide 4: Continued Outperformance Versus Publicly Traded Peer Group
Continued Outperformance Versus Publicly Traded Peer Group Occupancy Increased 110 bps to 95.8% compared to 1st Quarter of 2009 Operating Margin Maintained operating margin of at least 66% for each of the last 12 quarters Revenue Monthly income per home of $1,144 Decreased by 3.1% versus peer averag
Slide 5: Rents Continue to Improve
Rents Continue to Improve Percentage change in new and renewal lease rates compared to the expiring lease 2Q 2009 3Q 2009 4Q 2009 1Q 2010 4/1/2010 5/1/2010 New leases -0.071 -0.064 -0.076 -0.045 -0.02 -0.004 Renewal leases 0.002 -0.006 -0.006 0.002 0.01 0.013 Includes all stabilized homes.
Slide 6: Levering Technology to Enhance Operations
Levering Technology to Enhance Operations Top rated website Social media: Facebook, Twitter, Flickr, YouTube Mobile apartment search applications for: iPhone, Android, BlackBerry and PalmPre Click-to-call mobile paid search Augmented social reality apartment search application for mobile devices Com
Slide 7: Online Renewal Initiative
Online Renewal Initiative Now providing residents the ability to renew their lease online A notification is sent via email alerting the customer of a renewal offer available on the resident portal (MyUDR.com) Once logged in to MyUDR.com the resident is able to choose one of the variable lease terms
Slide 8: Technology Platform Designed to Meet Customers' Demands
Technology Platform Designed to Meet Customers' Demands Elements Too - Bellevue, WA Percentage of: May 2010 May 2010 Payments received via ACH Payments received via ACH 74% Service requests entered through MyUDR.com Service requests entered through MyUDR.com 74% Move-ins initiated via an Internet so
Slide 9: Transformational Redevelopment Capability
Created value through redeveloping 4,108 homes over the last three years, with an average incremental investment of $43 thousand per home Transformational Redevelopment Capability Targeting "Forever Great" and Emerging Locations Positive neighborhood trends Proximity to quality employment Convenient
Slide 10: Development
Development Current pipeline consists of five communities with an estimated cost of $333 million Meaningful contribution to NOI starting in the second half of 2010 Applying for LEED certifications on all current developments Will continue to research and evaluate sites that reinforce our low home af
Slide 11: The Portico at Silver Spring Metro - Kuwait Finance House Joint Venture
The Portico at Silver Spring Metro Kuwait Finance House Joint Venture Acquired 151 homes in April for $43 million and financed the acquisition with a five-year $26 million secured interest-only mortgage at 4.5%
Slide 12: Strong Balance Sheet
Strong Balance Sheet Financial profile as of May 31, 2010 The Whitmore - Arlington, VA In excess of $6 billion in assets(1) Total cash and credit capacity in excess of $730 million; over $3 billion of unencumbered assets available for additional liquidity Existing debt totals $3.4 billion, with weig
Slide 13: Debt Maturities as of May 31, 2010
Debt Maturities as of May 31, 2010 2010 2011 2012 2013 2014 2015 2016 2017 2018 Thereafter Fannie Mae Facilities - 50 175 35 - - 40 303 225 382 Medium Term Notes - - 100 123 313 325 83 - - 16 Mortgage - 48 86 37 65 18 63 71 - - Convertible Notes - 270 - - - - - - - - Construction Loans - 129 83 100
Slide 14: Forward-Looking Statement
Forward-Looking Statement Certain statements made in this presentation may constitute "forward-looking statements." The words "expect," "intend," "believe," "anticipate," "likely," "will" and similar expressions generally identify forward-looking statements. These forward-looking statements are subj
Slide 15: Notes
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Slide 16: Investor Relations Contact
Investor Relations Contact: H. Andrew Cantor acantor@udr.com (720) 283-6083