M&A Deal Summary

UDR Acquires Rivergate Property

On July 12, 2011, UDR acquired real estate company Rivergate Property from Rivergate Companies for 443M USD

Acquisition Highlights
  • This is UDR’s 20th transaction in the Real Estate sector.
  • This is UDR’s largest (disclosed) transaction.
  • This is UDR’s 20th transaction in the United States.
  • This is UDR’s 2nd transaction in New York.

M&A Deal Summary
Date 2011-07-12
Target Rivergate Property
Sector Real Estate
Buyer(s) UDR
Sellers(s) Rivergate Companies
Deal Type Divestiture
Deal Value 443M USD

Target

Rivergate Property

New York, New York, United States
Rivergate is a 35-story, 706-home community occupies a full city block between 34th and 35th Streets, FDR Drive and 1st Avenue. Residents benefit from this convenient location as it provides easy access to FDR Drive.

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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 20 of 23
Sector (Real Estate) 20 of 23
Type (Divestiture) 1 of 2
State (New York) 2 of 3
Country (United States) 20 of 23
Year (2011) 3 of 6
Size (of disclosed) 1 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-12 21 Chelsea Property

New York, New York, United States

21 Chelsea Property is a 14-story, 210-home community is located within walking distance to a number of major retailers.

Buy $138M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 95 Wall Apartment Community

New York, New York, United States

95 Wall Apartment Community a 507-home luxury apartment community.The community is currently 93% occupied and has an average income per occupied home of over $3,100 per month.

Buy $325M

Seller(S) 1

SELLER

Rivergate Companies

Coconut Grove,, Florida, United States

website

Category Company
Founded 1984
Sector Real Estate
DESCRIPTION

Rivergate is a real estate investment, management, development and advisory firm concentrating its efforts on creating value and outsized returns for its clients and stakeholders.

DEAL STATS #
Overall 1 of 1
Sector (Real Estate) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
Mergr

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