UDR’s Apollo union is a ‘positive’: J.P. Morgan
UDR's $2B joint venture with Apollo received positive reviews from analysts. Apollo will invest $1.34B for a two-thirds stake in 19 properties, while UDR retains one-third and continues management. The deal lowers UDR's portfolio age, generates liquidity, and boosts fee income. Analysts note the 6% cap rate reflects higher interest rates. UDR plans to use proceeds for growth and corporate purposes.



