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UDR And LaSalle Investment Management Closed $230M Expansion To Joint Venture

Benzinga·12/18/2025 21:17:54
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  • Contribute four additional apartment communities totaling 974 apartment homes, increasing the size of the venture to a total of 2,564 apartment homes. The newly contributed properties are located in Portland, Orlando, and Richmond, and have an average vintage of 1985.
  • Retain 51% ownership in the communities contributed to the joint venture.
  • Encumber the newly contributed assets with 50% debt and place debt on existing joint venture assets, bringing total joint venture-level leverage to approximately 33%.
    • Receive approximately $200 million in cash proceeds.