UDR, Apollo Form $2B Joint Venture

UDR, Apollo form $2B joint venture

Apollo will invest $1.34 billion of capital to acquire an approximate two-thirds interest in 19 properties, which carry a roughly 6% cap rate and an average age of 39 years.

Apollo-Managed Funds and Affiliates Plan $1.34 Billion UDR Venture Stake

The proposed $2 billion portfolio spans 19 communities and 7,059 homes; UDR would retain one-third ownership and manage the properties.

Apollo, UDR Forming $2-Billion Multifamily Joint Venture

UDR, Inc. and Apollo said Wednesday they would form a new, long-term joint venture involving a diversified portfolio of apartment communities. Apollo will invest approximately $1.34 billion of equity capital for a two-thirds interest in the JV, which owns a 19-property portfolio totaling 7,059 units and valued at approximately $2.0 billion. Under the terms of ...

Apollo Acquires Majority Stake In $2B UDR Portfolio

Funds managed by Apollo Global Management are expected to invest $1.34B of equity capital in a newly formed joint venture with multifamily REIT UDR.