M&A Deal Summary

UDR Acquires Inlet Bay Apartment Community

On July 1, 2003, UDR acquired real estate company Inlet Bay Apartment Community for 31M USD

Acquisition Highlights
  • This is UDR’s 1st transaction in the Real Estate sector.
  • This is UDR’s 16th largest (disclosed) transaction.
  • This is UDR’s 1st transaction in the United States.
  • This is UDR’s 1st transaction in Florida.

M&A Deal Summary
Date 2003-07-01
Target Inlet Bay Apartment Community
Sector Real Estate
Buyer(s) UDR
Deal Type Add-on Acquisition
Deal Value 31M USD

Target

Inlet Bay Apartment Community

St. Petersburg, Florida, United States
Inlet Bay Apartment Community, a 464 apartment home community,The community has been developed in two phases at a combined low density of 8.14 homes per acre. All homes have private views of water features and/or natural areas.The community is approximately one mile south of I-275 and one-half mile from Old Tampa Bay.The Gateway submarket consists of some 14.6 million square feet of office, retail and industrial space.

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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 1 of 23
Sector (Real Estate) 1 of 23
Type (Add-on Acquisition) 1 of 17
State (Florida) 1 of 1
Country (United States) 1 of 23
Year (2003) 1 of 7
Size (of disclosed) 16 of 21
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-16 The Commons at Town Square

Washington, District of Columbia, United States

The Commons at Town Square was 99% occupied at closing, with average monthly rents of $968, this community is comprised of 116 homes located in five buildings of three- and four-story design. Townhomes in the adjoining blocks sell in the range of $250 thousand to $650 thousand per residence.

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