Modified · General

UDR is a self-administered real estate investment trust, or REIT, that owns, operates, acquires, renovates, develops, redevelops, disposes of, and manages multifamily apartment communities in targeted markets located in the United States. At December 31, 20242025, our consolidated real estate portfolio consisted of 169165 communities located in 21 markets, consisting of 55,69655,240 completed apartment homes, which are held directly or through our subsidiaries, including the Operating Partnership and the DownREIT Partnership, and consolidated joint ventures. In addition, we have an ownership interest in 10,86012,167 completed or to-be-completed apartment homes through unconsolidated joint ventures or partnerships, including 6,4366,766 apartment homes owned by entities in which we hold preferred equity investments. At December 31, 20242025, the Company was not developing any communitiesone wholly-owned community totaling 300 apartment homes, although none of which have been completed. In addition, the Company wasis incurring and capitalizing costs directly related to predevelopment activities in preparation of future development commencements. During the year ended December 31, 2024, the Company completed the development of two communities located in Tampa, Florida and Addison, Texas, with a total of 415 apartment homes.