UDR Closes $2 Billion Apollo Venture as Q3 FFOA Holds at $0.65
Photo: TokenPost
UDR, Inc. completed its Apollo partnership on Oct. 30, a deal involving 19 communities and 7,059 apartment homes valued at about $2 billion, as its finalized third-quarter results showed FFO as adjusted (FFOA) unchanged from a year earlier. UDR received $1.34 billion in equity capital and retained about a one-third interest in the partnership. The closing advances the planned Apollo-managed UDR venture stake previously covered by TokenPost. In results released Nov. 2 for the quarter ended Sept. 30, UDR reported FFO as adjusted (FFOA) of $0.65 per diluted share. Standard funds from operations (FFO) was $0.62 per diluted share.
Source: TokenPost
