v3.24.2
JOINT VENTURES AND PARTNERSHIPS - Summary (Details)
1 Months Ended 3 Months Ended 6 Months Ended
Jul. 31, 2024
USD ($)
community
home
agreement
Jun. 30, 2024
USD ($)
community
property
home
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
community
property
home
item
Jun. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Unconsolidated entities            
Number of communities | community   169   169    
Assets   $ 11,117,805,000   $ 11,117,805,000   $ 11,373,242,000
Liabilities   6,373,304,000   6,373,304,000   6,420,801,000
Total assets   11,117,805,000   11,117,805,000   11,373,242,000
Total liabilities   6,373,304,000   6,373,304,000   6,420,801,000
Investment in unconsolidated entities   950,062,000   950,062,000   944,071,000
Income/(loss) from investments   $ 4,046,000 $ 9,697,000 $ 13,131,000 $ 19,404,000  
Sold joint ventures and other investments     3,882,000   5,369,000  
UDR/MetLife            
Unconsolidated entities            
Number of communities | property   13   13    
Number of apartment homes | home   2,837   2,837    
Investment in unconsolidated entities   $ 215,286,000   $ 215,286,000   $ 225,195,000
UDR's Ownership Interest   50.20%   50.20%   50.20%
Income/(loss) from investments   $ (1,408,000) (1,125,000) $ (3,254,000) (2,475,000)  
UDR/LaSalle            
Unconsolidated entities            
Number of communities | property   5   5    
Number of apartment homes | home   1,590   1,590    
Investment in unconsolidated entities   $ 275,885,000   $ 275,885,000   $ 286,723,000
UDR's Ownership Interest   51.00%   51.00%   51.00%
Income/(loss) from investments   $ (2,793,000) (42,000) $ (5,671,000) (42,000)  
Preferred Equity Investments            
Unconsolidated entities            
Number of communities | community   23   23    
Number of apartment homes   5,234   5,234    
Number of apartment homes under development | home   384   384    
Weighted Average Rate   9.70%   9.70%    
Investment in unconsolidated entities   $ 407,911,000   $ 407,911,000   $ 387,771,000
Income/(loss) from investments   8,436,000 7,798,000 $ 16,599,000 16,433,000  
Years to Maturity       2 years 10 months 24 days    
UDR Commitment   $ 329,209,000   $ 329,209,000    
Number of investments which receive a variable percentage of the value created from the project upon a capital or liquidating event | item       4    
Joint venture one            
Unconsolidated entities            
Number of communities | community 4          
Number of apartment homes | home 818          
Weighted Average Rate 10.75%          
Investment in unconsolidated entities $ 35,000,000.0          
Number of joint ventures agreements entered into | agreement 3          
Unconsolidated Joint Ventures            
Unconsolidated entities            
Number of communities | property   18   18    
Number of apartment homes | home   4,427   4,427    
Investment in unconsolidated entities   $ 491,171,000   $ 491,171,000   511,918,000
Income/(loss) from investments   $ (4,201,000) (1,167,000) $ (8,925,000) (2,517,000)  
Variable Interest Entity, Primary Beneficiary            
Unconsolidated entities            
Number of apartment homes | home   173   173    
Operating Community | Preferred Equity Investments            
Unconsolidated entities            
Number of communities | community   22   22    
Number of apartment homes   5,234   5,234    
Weighted Average Rate   9.50%   9.50%    
Investment in unconsolidated entities   $ 385,968,000   $ 385,968,000   367,295,000
Income/(loss) from investments   7,690,000 7,147,000 $ 15,132,000 15,160,000  
Years to Maturity       2 years 10 months 24 days    
UDR Commitment   $ 313,165,000   $ 313,165,000    
Operating Community | Preferred Equity Investment One            
Unconsolidated entities            
Proceeds from Sale of Real Estate $ 17,200,000          
Weighted Average Rate 11.00%          
Investment in unconsolidated entities $ 50,000,000.0          
Development Community | Preferred Equity Investments            
Unconsolidated entities            
Number of communities | community   1   1    
Number of apartment homes   384   384    
Weighted Average Rate   14.00%   14.00%    
Investment in unconsolidated entities   $ 21,943,000   $ 21,943,000   20,476,000
Income/(loss) from investments   746,000 651,000 $ 1,467,000 1,273,000  
Years to Maturity       2 years    
UDR Commitment   16,044,000   $ 16,044,000    
Development Community | Real estate technology and sustainability investments            
Unconsolidated entities            
Investment in unconsolidated entities   50,980,000   50,980,000   44,382,000
Income/(loss) from investments   (189,000) (816,000) 5,457,000 119,000  
UDR Commitment   86,000,000   86,000,000    
Development Community | Preferred Equity Investments and Real Estate Technology Investments            
Unconsolidated entities            
Investment in unconsolidated entities   458,891,000   458,891,000   $ 432,153,000
Income/(loss) from investments   $ 8,247,000 $ 6,982,000 $ 22,056,000 $ 16,552,000