UDR Inc
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
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Item 2. Properties
At December 31, 2023, our consolidated apartment portfolio included 168 communities located in 21 markets, with a total of 55,550 completed apartment homes.
The table below set forth a summary of real estate portfolio by geographic market of the Company at December 31, 2023.
SUMMARY OF REAL ESTATE PORTFOLIO BY GEOGRAPHIC MARKET AT DECEMBER 31, 2023
| · · · · · · · · · · · · · · · · · · · | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · · Percentage · Total · · · · · · · · · Average | ||||||||||||||||||
| | | Number of | | Number of | | of Total | | Carrying | | | | | | | | Average | | Home Size |
| · · Apartment · · Apartment · · Carrying · · Value · · Encumbrances · · Cost per · · Physical · · (in square | ||||||||||||||||||
| · · Communities · · Homes · · Value · · (in thousands) · · (in thousands) · · Home · · Occupancy · · feet) | ||||||||||||||||||
| WEST REGION · · · · | ||||||||||||||||||
| Orange County, CA | 8 | 4,305 | 8.6% | $1,371,309 | | $— | | $318,539 | 96.4% | 856 | ||||||||
| San Francisco, CA | 14 | 3,309 | 7.5% | 1,209,227 | | 67,017 | | 365,436 | 93.7% | 837 | ||||||||
| Seattle, WA | 14 | 2,702 | 6.9% | 1,111,182 | | — | | 411,244 | 97.2% | 859 | ||||||||
| Monterey Peninsula, CA | 7 | 1,567 | 1.2% | 197,561 | | — | | 126,076 | 95.6% | 728 | ||||||||
| Los Angeles, CA | 4 | 1,225 | 3.0% | 482,945 | | — | | 394,241 | 96.2% | 967 | ||||||||
| Other Southern California | 3 | 821 | 1.4% | 224,842 | | — | | 273,864 | 96.8% | 1,016 | ||||||||
| Portland, OR | 2 | 476 | 0.3% | 56,055 | | — | | 117,763 | 97.1% | 903 | ||||||||
| MID-ATLANTIC REGION | | | | | | | | | | | ||||||||
| Metropolitan D.C. | 24 | 9,119 | 16.4% | 2,633,863 | | 288,530 | | 288,832 | 95.7% | 918 | ||||||||
| Baltimore, MD | 7 | 2,221 | 3.5% | 562,075 | | 58,600 | | 253,073 | 95.7% | 963 | ||||||||
| Richmond, VA | 4 | 1,359 | 1.0% | 166,013 | | — | | 122,158 | 96.9% | 1,017 | ||||||||
| NORTHEAST REGION | | | | | | | | | | |||||||||
| Boston, MA | 12 | 4,667 | 12.2% | 1,947,236 | | 323,350 | | 417,235 | 96.7% | 994 | ||||||||
| New York, NY | 6 | 2,318 | 9.9% | 1,584,275 | | — | | 683,466 | 97.8% | 754 | ||||||||
| Philadelphia, PA | | 4 | | 1,172 | | 2.7% | | 438,465 | | | — | | | 374,117 | | 96.6% | 949 | |
| SOUTHEAST REGION | | | | | | | | | | |||||||||
| Tampa, FL | 11 | 3,877 | 4.2% | 673,942 | | — | | 173,831 | 96.7% | 995 | ||||||||
| Orlando, FL | 11 | 3,493 | 3.5% | 559,956 | | — | | 160,308 | 96.2% | 974 | ||||||||
| Nashville, TN | 8 | 2,260 | 1.6% | 249,705 | | — | | 110,489 | 96.2% | 933 | ||||||||
| Other Florida | 1 | 636 | 0.6% | 95,798 | | — | | 150,626 | 96.7% | 1,130 | ||||||||
| SOUTHWEST REGION | | | | | | | | | | |||||||||
| Dallas, TX | 19 | 7,363 | 8.0% | 1,283,970 | | 476,227 | | 174,381 | 96.6% | 845 | ||||||||
| Austin, TX | 6 | 1,880 | 2.0% | 318,791 | | 67,044 | | 169,570 | 95.9% | 891 | ||||||||
| Denver, CO | 2 | 510 | 1.6% | 249,653 | | — | | 489,516 | 93.5% | 861 | ||||||||
| Total Operating Communities | 167 | 55,280 | 96.1% | 15,416,863 | | 1,280,768 | | $278,887 | 96.2% | 908 | ||||||||
| Real Estate Under Development (a) | — | 56 | 1.0% | 160,404 | | — | | |||||||||||
| Land | — | — | 1.5% | 232,365 | | — | | |||||||||||
| Held for Disposition | 1 | 214 | 0.7% | 105,999 | | — | | |||||||||||
| Other | — | — | 0.7% | 108,228 | | (3,055) | | |||||||||||
| Total Real Estate Owned | 168 | 55,550 | 100.0% | $16,023,859 | | $1,277,713 | | |||||||||||
| (a) | As of December 31, 2023, the Company was developing two wholly owned communities with a total of 415 apartment homes, of which 56 have been completed. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.