News
UDR Pays Almost $1B for 6 DC Suburban Properties
August 11, 2015
Wikimedia Commons
UDR is in line to purchase six multifamily properties in the Maryland and Virginia suburbs for a total of $908M. The buildings now under the REIT's control, with financing from Home Properties, include Eleven55 Ripley (above) and 1200 East West in Silver Spring; Courts at Huntington Station, Arbor Park and Newport Village in Alexandria; and The Courts at Dulles in Herndon. Combined, the apartment communities add 3,246 units to UDR's portfolio. Eleven55 Ripley was built in 2014, and Arbor Park just completed a renovation this year. The apartments are 90% occupied on average. UDR expects to close on the sale in Q4.
