M&A Deal Summary

UDR Acquires The Preserve Apartment Community

On July 6, 2004, UDR acquired real estate company The Preserve Apartment Community for 28M USD

Acquisition Highlights
  • This is UDR’s 9th transaction in the Real Estate sector.
  • This is UDR’s 18th largest (disclosed) transaction.
  • This is UDR’s 9th transaction in the United States.
  • This is UDR’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2004-07-06
Target The Preserve Apartment Community
Sector Real Estate
Buyer(s) UDR
Deal Type Add-on Acquisition
Deal Value 28M USD

Target

The Preserve Apartment Community

Nashville, Tennessee, United States
The Preserve Apartment Community was 91% occupied at closing with average monthly rents of $904 per home and consists of 15 garden-style buildings and averages 992 square feet per home. The Preserve has an extensive list of amenities including two swimming pools, a fitness center, a business center and a clubhouse.

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Buyer(S) 1

Buyer

UDR

Highlands Ranch, Colorado, United States

website

Category Company
Founded 1972
Sector Real Estate
Employees1,263
Revenue 1.5B USD (2022)
DESCRIPTION
UDR's corporate headquarters in Highlands Ranch, Colorado.
UDR's corporate headquarters in Highlands Ranch, Colorado.

UDR is a self-administered real estate investment trust that owns, operates, acquires, renovates, develops, redevelops, and manages multifamily apartment communities generally located in high barrier-to-entry markets located throughout the United States. UDR was formerly known as United Dominion Realty Trust. UDR was founded in 1972 and is based in Highlands Ranch, Colorado.

DEAL STATS #
Overall 9 of 23
Sector (Real Estate) 9 of 23
Type (Add-on Acquisition) 7 of 17
State (Tennessee) 1 of 1
Country (United States) 9 of 23
Year (2004) 2 of 2
Size (of disclosed) 18 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-06 The Presidio Apartment Community

Oceanside, California, United States

The Presidio at Rancho Del Oro was 89% occupied at closing with average monthly rents of $1,073 per home and is a low density garden-style property and averages 923 square feet per home. The community has an extensive list of amenities including a swimming pool, fitness center, business center, tennis courts and clubhouse.

Buy $33M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-05 The Kennedy Apartment Community

Seattle, Washington, United States

The Kennedy Apartment Community is a Class A property is a seven story mid-rise building with an underground parking garage. The Kennedy includes 125 homes and approximately 4,000 square feet of retail space on the ground floor. The apartment homes average 745 square feet with monthly average rent of $1,321 per home. The 5.0% cap rate is expected to be a year one stabilized return after an initial lease up period.

Buy $29M
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