UDR announces $230M expansion of joint venture with LaSalle Investment

UDR (UDR) has closed on a $230M expansion of its joint venture with LaSalle Investment Management. This transaction increases the total size of the joint venture to approximately $850M. The expansion adds four apartment communities totaling 974 homes to the joint venture’s portfolio, which now comprises 2,564 homes. The newly contributed properties are located in Portland, Orlando, and Richmond, with an average vintage of 1985, broadening the venture’s geographic reach. Under the terms of the agreement, LaSalle will hold a 49% ownership stake in the newly contributed assets, with UDR retaining 51%. LaSalle and UDR will continue to explore growth opportunities for the joint venture in 2026.