UDR Announces $1.7 Billion Portfolio Sale

[InkAddict]

http://www.snl.com/irweblinkx/file.aspx?IID=103025&FID=5529561

UDR, Inc. (NYSE:UDR) today announced that it has entered into a contract to sell 25,684 apartment homes in 86 communities for $1.7 billion to DRA Advisors LLC in a joint venture with Steven D. Bell & Company. Upon completion of the transaction, the Company will own 40,183 homes in 146 communities.




SHEDDING OHIO PROPERTIES -- SEE WHO'S BUYING.

[thunder rising]

1. Now that's the power of BIG MONEY...whole communities bought and sold with the serfs intact.

The $1.7 billion sales price is equivalent to $66,578 per home.

At December 31, 2007, the portfolio being sold had total income per home of $744 per month,

average occupancy of 94.4 percent, and operating margin of 62.3 percent.
The average age of the portfolio was 24 years.

Think you're a radical .. think again. The big money owns you no matter which way you turn.

VOTE and MAKE IT COUNT.

re unions: MONEY IS UNIONIZED ... it's called HARVARD, YALE, PRINCETON, etc ... and you squak about some penny dues.

[flashl]

2. Several times I posted that company town will have a NEW meaning. nt

[Captain Angry]

3. I've thought the same thing.

Huge swaths of land owned by one or two companies.

I wonder how long it is before they are able to lobby to get a kickback on the property taxes of the homes they hold.