M&A Deal Summary

UDR Acquires Calvert Apartments Community

On December 18, 2003, UDR acquired real estate company Calvert Apartments Community for 13M USD

Acquisition Highlights
  • This is UDR’s 7th transaction in the Real Estate sector.
  • This is UDR’s 21st largest (disclosed) transaction.
  • This is UDR’s 7th transaction in the United States.
  • This is UDR’s 2nd transaction in Virginia.

M&A Deal Summary
Date 2003-12-18
Target Calvert Apartments Community
Sector Real Estate
Buyer(s) UDR
Deal Type Add-on Acquisition
Deal Value 13M USD

Target

Calvert Apartments Community

Alexandria, Virginia, United States
Calvert Apartments Community,was 92% occupied at closing with average monthly rents of $1,053 per apartment home, the community was developed as a single 14-story mid-rise tower built over 20,500 square feet of neighborhood retail and office space with an average of 781 square feet per apartment home. The community features a penthouse level pool and community area.

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Buyer(S) 1

Buyer

UDR

Highlands Ranch, Colorado, United States
Category Company
Founded 1972
Sector Real Estate
Employees1,397
Revenue 1.6B USD (2023)
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 7 of 23
Sector (Real Estate) 7 of 23
Type (Add-on Acquisition) 5 of 17
State (Virginia) 2 of 3
Country (United States) 7 of 23
Year (2003) 7 of 7
Size (of disclosed) 21 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-18 The Carriage Homes at Wyndham

Glen Allen, Virginia, United States

The Carriage Homes was 94% occupied at closing, with average monthly rents of $1,120 per apartment home. the community was developed primarily as two-and three-bedroom townhome-style apartments nestled over one bedroom garden style apartments housed in 16 three-story buildings with an average of 1,171 square feet per home. All two- and three-bedroom style homes, which represent 68% of the community, have direct access garages. The community also features a fitness center, meeting rooms and a resort-style pool area.

Buy $32M
FOLLOWING 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
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