DENVER--(BUSINESS WIRE)-- UDR, Inc. (NYSE: UDR) announced today that it has priced a $150 million offering of 5.25% senior unsecured notes under its existing shelf registration statement. Interest is payable semiannually on January 15 and July 15, with the first interest payment due July 15, 2010. The notes will mature on January 15, 2015. The notes were priced at 99.46% of the principal amount plus accrued interest from January 15, 2010 to yield 5.375% to maturity.

These notes are a re-opening of the series of 5.25% senior notes due January 15, 2015, originally issued on November 1, 2004. These additional notes will constitute a single series of notes together with those previously issued.

The notes are rated Baa2 by Moody's Investor Service and BBB by Standard & Poor's.

The Company expects to use the net proceeds for general corporate purposes. The settlement of the offering is expected to occur on February 4, 2010.

Citigroup Global Markets Inc. and J. P. Morgan Securities Inc. were the joint book-running managers for the offering.

Copies of the prospectus supplement and prospectus relating to the offering may be obtained by contacting Citigroup Global Markets Inc., Attn: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, NY 11220, toll free at 1-877-858-5407, or J.P. Morgan Securities Inc., 270 Park Avenue, New York, New York, 10017, Attention: High Grade Syndicate Desk, 8th Floor, telephone collect at 212-834-4533.

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

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.

Forward Looking Statements

Certain statements made in this press release may constitute "forward-looking statements." The words "expect," "intend," "believe," "anticipate," "likely," "will" and similar expressions generally identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated, due to a number of factors, which include, but are not limited to, unfavorable changes in the apartment market, changing economic conditions, the impact of inflation/deflation on rental rates and property operating expenses, expectations concerning availability of capital and the stabilization of the capital markets, the impact of competition and competitive pricing, acquisitions or new developments not achieving anticipated results, delays in completing developments and lease-ups on schedule, expectations on job growth, home affordability and demand/supply ratio for multifamily housing, expectations concerning development and redevelopment activities, expectations on occupancy levels, expectations concerning the Vitruvian Park project, expectations that automation will help grow net operating income, expectations on post-renovated stabilized annual operating income, expectations on annualized net operating income and other risk factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time, including the Company's Annual Report on Form 10-K, the Company's Quarterly Reports on Form 10-Q and the Company's prospectus supplement dated December 7, 2009 and the accompanying prospectus dated December 8, 2008. Actual results may differ materially from those described in the forward-looking statements. These forward-looking statements and such risks, uncertainties and other factors speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein, to reflect any change in the Company's expectations with regard thereto, or any other change in events, conditions or circumstances on which any such statement is based, except to the extent otherwise required by law.

    Source: UDR, Inc.