February 1, 2008
Denver-based apartment owner UDR, Inc. announces $1.7 billion agreement to sell 25,684 apartment homes in 86 communities to DRA Advisors LLC in a joint venture with Steven D. Bell & Company.
On January 29, Denver-based apartment owner UDR, Inc. announced that it has signed a $1.7 billion agreement to sell 25,684 apartment homes in 86 communities to DRA Advisors LLC in a joint venture with Steven D. Bell & Company. Willkie advised MJC Associates LLC, financial advisor to UDR in connection with the asset sale. The sale represents 40% of UDR’s more than 65,000 apartment portfolio. Upon completion the transaction, the company will own 40,183 homes in 146 communities. UDR, Inc. is a leading multifamily real estate investment trust (REIT) that manages, buys, sells, develops and redevelops real estate properties in targeted U.S. markets. The deal was handled by partners Steven Seidman and Laura Delanoy.
