DENVER--(BUSINESS WIRE)--
UDR,
Inc. (the "Company") (NYSE: UDR), a leading multifamily real estate
investment trust, today announced that it will redeem all issued and
outstanding shares of its 6.75% Series G Cumulative Redeemable Preferred
Stock (NYSE: UDRPrG) on May 31, 2012. The Series G Preferred Stock will
be redeemed at a redemption price of $25 per share in cash, plus accrued
and unpaid dividends to the redemption date. Dividends shall cease to
accrue on all shares of Series G Preferred Stock on the redemption date.
There are currently 3,264,362 shares of Series G Preferred Stock issued
and outstanding.
Notices of redemption and letters of transmittal will be mailed to the
record holders of the Series G Preferred Stock on or about April 30,
2012. Questions regarding the redemption of Series G Preferred Stock
should be directed to the Company's transfer agent, Wells Fargo
Shareowner Services, at 161 North Concord Exchange, South St. Paul, MN
55075, Attention: Corporate Actions Dept., or by telephone at
(800) 468-9716.
Forward Looking Statements
Certain statements made in this press release may constitute
“forward-looking statements.” Words such as “expects,” “intends,”
“believes,” “anticipates,” “plans,” “likely,” “will,” “seeks,”
“estimates” and variations of such words and similar expressions are
intended to identify such forward-looking statements. Forward-looking
statements, by their nature, involve estimates, projections, goals,
forecasts and assumptions and are subject to risks and uncertainties
that could cause actual results or outcomes to differ materially from
those expressed in a forward-looking statement, 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, developments and redevelopments not achieving anticipated
results, delays in completing developments, redevelopments 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®
development, expectations concerning the joint ventures with third
parties, expectations that automation will help grow net 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 and the Company's Quarterly Reports on Form
10-Q. 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 under the U.S. securities laws.
This press release and these forward-looking statements include UDR’s
analysis and conclusions and reflect UDR’s judgment as of the date of
these materials. UDR assumes no obligation to revise or update to
reflect future events or circumstances.
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 December 31, 2011, UDR owned or had an ownership position
in 60,465 apartment homes including 2,626 homes under development. For
over 39 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.
UDR, Inc.
Chris Van Ens, 720-348-7762
cvanens@udr.com
Source: UDR, Inc.