M&A Deal Summary

UDR Acquires The Kennedy Apartment Community

On December 5, 2005, UDR acquired real estate company The Kennedy Apartment Community for 29M USD

Acquisition Highlights
  • This is UDR’s 12th transaction in the Real Estate sector.
  • This is UDR’s 17th largest (disclosed) transaction.
  • This is UDR’s 12th transaction in the United States.
  • This is UDR’s 1st transaction in Washington.

M&A Deal Summary
Date 2005-12-05
Target The Kennedy Apartment Community
Sector Real Estate
Buyer(s) UDR
Deal Type Add-on Acquisition
Deal Value 29M USD

Target

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.

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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 12 of 23
Sector (Real Estate) 12 of 23
Type (Add-on Acquisition) 10 of 17
State (Washington) 1 of 1
Country (United States) 12 of 23
Year (2005) 3 of 3
Size (of disclosed) 17 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-05 Bay Terrace Community

San Mateo,, California, United States

Bay Terrace Community is a 127-home community. Bay Terrace is 100% townhomes, with 2 and 3 bedroom floor plans averaging 846 square feet per home.The average monthly rent is $1,467 per home and the occupancy rate at closing was 95%.

Buy $23M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-07 1818 Platinum Triangle Apartment Community

Anaheim, California, United States

1818 Platinum Triangle Apartment Community an emerging community in Orange County. The community is a short walk to The Grove of Anaheim live music venue, Angel Stadium and the Honda Center.

Buy $71M
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