Udr, Inc. · NYSE:UDR
Udr — NAREIT's Annual Conference June 2011
16 slides from Udr's conference presentation, Jun 6, 2011
Slide 1: NAREIT's Annual Conference - June 2011
Inwood West Boston, MA 10 Hanover Square New York, NY 388 Beale San Francisco, CA NAREIT's Annual Conference - June 2011 14 North Boston, MA 2011 Acquisitions CitySouth- Post Redevelopment San Mateo, CA Barton Creek Landing - Post Redevelopment Austin, TX
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 ahead of national average 59,614 homes in 213 communities(2) Average monthly income per occupied home of $1,283(2) Leading
Slide 3: UDR's Competitive Strengths
UDR's Competitive Strengths Focused Portfolio Management Strategy Target homes with an average monthly income in excess of $1,500 Purse unique transactions: Opportunistically financed - 10 Hanover Square with operating partnership units Off-market transactions - $500 million asset exchange Location
Slide 4: Decade of Change
Decade of Change Sateen ented non-core markets Nor nd. 2001: Tom Teomey Arrives ‘Over the past ten years, UDR has completed over $11 billion in portfolio transactions: ‘$5.4 billion in acquisitions {$4.6 billion in dispositions, ‘$960 million in developments '$210 million in redovelopments x ees 4
Slide 5: Acquisition & Disposition Activity - Since August 2010
Acquisition & Disposition Activity - Since August 2010 Increased assets by $1.1 billion Acquired 8,675 homes with an average age of four years and a weighted average monthly income of $2,132 per home(1) Increased presence in existing UDR markets Delivered 1,575 homes through development and 324 home
Slide 6: Summary of Recent Events
Summary of Recent Events Portfolio Transformation In the last 9 months, UDR has strengthened the portfolio by entering Boston and Manhattan, and increasing its presence in San Francisco, and Washington, D.C. Early cycle repositioning should allow UDR to take advantage of strong market fundamentals i
Slide 7: UDR's Specific Asset Strategy: Development and Redevelopment
Development(1) Strategy: Focus development opportunities in select markets that compliment UDR's current locations; such as San Francisco and Washington, D.C. and Boston Pipeline: 1,170 homes in five communities with a total estimated cost of $382 million or $327 thousand per home Completed $817 mil
Slide 8: 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 63% Revenue Increased by 2.6% versus peer average of 2.8% Expenses Increased by 2.0% versus peer average decline of 1.3% NOI Increased 3.0% versus peer av
Slide 9: Rents Continue to Improve
Rents Continue to Improve Change in effective new and renewal lease rates compared to the expiring lease Includes mature properties as of May 2011. As of May 31, 2011. We have pricing power in all 23 of our markets, a loss to lease greater than 7% and occupancy of nearly 96%(2)
Slide 10: Solid Balance Sheet
Solid Balance Sheet Edgewater - San Francisco, CA In excess of $7.1 billion in assets(1) Total cash and credit capacity of $700 million; over $4.1 billion of unencumbered assets available for additional liquidity(1) Existing debt totals $3.5 billion, with weighted average rate of 4.2% and 5.4 years
Slide 11: UDR/MetLife Joint Venture Update
UDR/MetLife Joint Venture Update Operational Improvement Portfolio occupancy at 93% leased; up 10% since November 2010(1) Monthly income per occupied home up 5.1% to $2,278 since November 2010(1) Projected full-year utility reimbursements and fee income to increase 40% and 90%, respectively. Financi
Slide 12: Forward-Looking Statement
Forward-Looking Statement Certain statements made in this release may constitute "forward-looking statements." Words such as "expects," "intends," "believes," "anticipates," "likely," "will," "seeks," "estimates" and variations of such words and similar expressions are intended to identify such forw
Slide 13: Notes
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Slide 14: Notes
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Slide 15: Notes
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Slide 16: Investor Relations Contact
Investor Relations Contact: H. Andrew Cantor acantor@udr.com 720.283.6083