1. CONSOLIDATION AND BASIS OF PRESENTATION Organization and Formation UDR, Inc. (“UDR,” the “Company,” “we,” or “our”) is a self-administered real estate investment trust, or REIT, that owns, operates, acquires, renovates, develops, redevelops, and manages apartment communities in targeted markets located in the United States. At December 31, 2021, our consolidated apartment portfolio consisted of 160 consolidated communities located in 21 markets consisting of 53,229 apartment homes. In addition, the Company has an ownership interest in 6,570 completed or to-be-completed apartment homes through unconsolidated joint ventures or partnerships, including 3,733 apartment homes owned by entities in which we hold preferred equity investments. Basis of Presentation The accompanying consolidated financial statements of UDR include its wholly-owned and/or controlled subsidiaries (see Note 4, Variable Interest Entities, for further discussion). All significant intercompany accounts and transactions have been eliminated in consolidation. Certain previously reported amounts have been reclassified to conform to the current financial statement presentation. The accompanying consolidated financial statements include the accounts of UDR and its subsidiaries, including United Dominion Realty, L.P. (the “Operating Partnership” or the “OP”) and UDR Lighthouse DownREIT L.P. (the “DownREIT Partnership”). As of December 31, 2021 and 2020, there were 186.1 million and 184.8 million units, respectively, in the Operating Partnership (“OP Units”) outstanding, of which 176.2 million, or 94.7% and 176.2 million, or 95.3%, respectively, were owned by UDR and 9.9 million, or 5.3% and 8.6 million, or 4.7%, respectively, were owned by outside limited partners. As of December 31, 2021 and 2020, there were 32.4 million units in the DownREIT Partnership (“DownREIT Units”) outstanding, of which 20.6 million, or 63.6% and 18.7 million, or 57.8%, respectively, were owned by UDR and its subsidiaries and 11.8 million, or 36.4% and 13.7 million, or 42.2%, respectively, were owned by outside limited partners. The consolidated financial statements of UDR include the noncontrolling interests of the unitholders in the Operating Partnership and DownREIT Partnership. The Company evaluated subsequent events through the date its financial statements were issued. No significant recognized or non-recognized subsequent events were noted other than those in Note 5, Joint Ventures and Partnerships.
Free historical financial statements for UDR Inc..
See how revenue, income, cash flow, and balance sheet financials have changed over 55 quarters since 2011. Compare with UDR stock chart to see long term trends.
Data imported from UDR Inc. SEC filings. Check original filings before making any investment decision.