UDR and Apollo plan $2.0 billion apartment joint venture; UDR raises 2026 outlook

On October 21, UDR announced plans with Apollo to form a joint venture containing 19 communities with 7,059 apartments valued at approximately $2.0 billion; Apollo would invest $1.34 billion for about two-thirds, while UDR would retain one-third and continue managing the portfolio, with closing expected October 29. UDR also reported preliminary third-quarter 2026 net income of $0.67 per diluted share and FFO as Adjusted of $0.65, and raised full-year FFO as Adjusted guidance to $2.54-$2.56 per share from $2.49-$2.57; the company said proceeds are intended for higher-growth assets, general corporate purposes and debt reduction.