DENVER--(BUSINESS WIRE)-- UDR, Inc. (NYSE: UDR) announced today that it has repaid its $240 million term loan due in February 2010 with proceeds from a new $100 million term loan and capacity from its $600 million unsecured bank credit facility. The new loan was provided by a group of six banks and has identical covenants to those contained in the loan that was repaid. The debt carries a floating rate of 350 basis points over LIBOR (all-in rate, currently 3.73%) with payments of interest only through the maturity date of July 2012; which is co-terminous with the maturity date of the Company's unsecured bank credit facility.

About UDR, Inc.

UDR, Inc. (NYSE:UDR), an S&P 400 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S. markets. As of September 30, 2009, UDR owned 45,249 apartment homes and had 1,657 homes under development. For over 37 years, UDR has delivered long-term value to shareholders, the best standard of service to residents, and the highest quality experience for associates. Additional information can be found on the Company's website at www.udr.com.

    Source: UDR, Inc.