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EX-99.2 - EX-99.2 - UDR, Inc. | d75965exv99w2.htm |
8-K - FORM 8-K - UDR, Inc. | d75965e8vk.htm |
Exhibit 99.1
UDR Announces Proposed Offering of Common Stock
Company Release [09/07/2010 2:01 MT]
DENVER(BUSINESS WIRE)
UDR, Inc. (NYSE:UDR) today announced that it plans to sell 13,500,000 shares of its common stock in
an underwritten public offering. UDR also plans to grant the underwriters a 30-day option to
purchase up to an additional 2,025,000 shares to cover overallotments, if any. All of the shares of
common stock will be offered by the Company and will be issued under a currently effective shelf
registration statement filed
with the Securities and Exchange Commission.
The Company expects to use the net proceeds from the offering to fund potential and recent
acquisitions, to pay down certain of our debt and for general corporate purposes.
BofA Merrill Lynch and Wells Fargo Securities will serve as joint book-running managers for the
offering. A preliminary prospectus supplement and final prospectus supplement related to the public
offering will be filed with the Securities and Exchange Commission. Copies of the preliminary
prospectus supplement and final prospectus supplement, when available, may be obtained from BofA
Merrill Lynch, 4 World Financial Center, New York, New York 10080, Attn: Prospectus Department or
email dg.prospectus_requests@baml.com or Wells Fargo Securities, LLC, Attn: Equity Syndicate
Department, 375 Park Avenue, New York, NY 10152, telephone: 1.800.326.5897 or
email:equity.syndicate@wellsfargo.com.
email:equity.syndicate@wellsfargo.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or other jurisdiction in which the
offer, solicitation or sale would be unlawful prior to registration or qualification under the
security laws of any state or other jurisdiction. The offering may be made only by means of a
prospectus and related prospectus supplement.
About UDR, Inc.
UDR, Inc. (NYSE: UDR), an S&P 400 company, is a leading multifamily real estate investment trust
with a demonstrated performance history of delivering superior and dependable returns by
successfully managing, buying, selling, developing and redeveloping attractive real estate
properties in targeted U.S. markets. As of June 30, 2010, UDR owned or had an ownership position in
51,823 apartment homes including 748 homes under development. For over 38 years, UDR has delivered
long-term value to shareholders, the best standard of service to residents, and the highest quality
experience for associates. Additional information can be found on the Companys website at
www.udr.com.
Certain statements made in this press release 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 subject to
risks and uncertainties which can cause actual results to differ materially from those currently
anticipated, due to a number of factors, which include, but are not limited to, unfavorable changes
in the apartment market, changing economic conditions, the impact of inflation/deflation on rental
rates and property operating expenses, expectations concerning availability of capital and the
stabilization of the capital markets, the impact of competition and competitive pricing,
acquisitions, developments and redevelopments not achieving anticipated results, delays in
completing developments, redevelopments and lease-ups on schedule, expectations on job growth, home
affordability and demand/supply ratio for multifamily housing, expectations concerning development
and redevelopment activities, expectations on occupancy levels, expectations concerning the
Vitruvian ParkSM development, expectations that automation will help grow net operating
income, expectations on annualized net operating income and other risk factors discussed in
documents filed by the Company with the Securities and Exchange Commission from time to time,
including the Companys Annual Report on Form 10-K and the Companys Quarterly Reports on Form
10-Q. Actual results may differ materially from those described in the forward-looking statements.
These forward-looking statements and such risks, uncertainties and other factors speak only as of
the date of this presentation, and the Company expressly disclaims any obligation or undertaking to
update or revise any forward-looking statement contained herein, to reflect any change in the
Companys expectations with regard thereto, or any other change in events, conditions or
circumstances on which any such statement is based, except to the extent otherwise required by law.
Source: UDR, Inc.
Contact: UDR, Inc.
H. Andrew Cantor, UDR, Inc.
acantor@udr.com
720-283-6083
H. Andrew Cantor, UDR, Inc.
acantor@udr.com
720-283-6083