UDR, Inc. (UDR) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that UDR, Inc. surfaced in its latest filing.

• Montgomery County, Maryland enacted rent control, impacting a portion of the portfolio in that market.2023
• State of New York passed the Good Cause Eviction Law, establishing rent limits on certain market-rate apartments.2024
• City of New York administration enacted a freeze on rent increases for covered properties.
• City of Salinas, California passed a rent stabilization ordinance impacting all properties within the city.2024
• State of Washington enacted statewide rent control, initially impacting a portion of properties within the state.2025
• Named as a defendant in consolidated antitrust cases in the United States Court for the Middle District of Tennessee alleging antitrust violations by RealPage, Inc. and various owners/managers of multifamily housing.
• Antitrust cases with similar allegations filed by the District of Columbia, the State of Maryland, and the State of Washington.
• DownREIT Partnership was liquidated, its assets acquired by the Operating Partnership, and outstanding DownREIT Units were exchanged for two new classes of units in the Operating Partnership.2026-07
• As of June 30, 2026, we had active unconsolidated joint ventures and partnerships with a total equity investment of $728.8 million.2026-06-30
• As of June 30, 2026, we had approximately $693.0 million of variable rate indebtedness outstanding, constituting approximately 11.9% of total outstanding indebtedness.2026-06-30
• Implementation of Basel III capital requirements and 'High Volatility Commercial Real Estate' designation has adversely impacted loan availability, proceeds, and interest rates on construction loans.
• For the six months ended June 30, 2026, approximately 75.0% of NOI came from eight metropolitan areas.2026-06-30