UDR Inc was formed in 1972 as a Virginia corporation. In June 2003, it changed its state of incorporation from Virginia to Maryland. The Company is a self-administered real estate investment trust that owns, acquires, renovates, develops, and manages apartment communities generally located in high barrier-to-entry markets located throughout the United States. Its business objective is to maximize the economic returns of its apartment communities to provide its stockholders with the greatest possible total return and value. Its consolidated real estate portfolio included 133 communities in 18 markets, with a total of 40,728 completed apartment homes, which are held through its subsidiaries, including the Operating Partnership, and consolidated joint ventures. In addition, it has an ownership interest in 28 communities containing 6696 apartment homes through unconsolidated joint ventures or partnerships. The Company's segments include Same-Store Communities and Non-Mature Communities/Other. Its Same-Store Communities segment includes those communities acquired, developed, and stabilized. Its Non-Mature Communities/Other segment represents those communities that do not meet the criteria to be included in Same-Store Communities, including, but not limited to, recently acquired, developed and redeveloped communities, and the non-apartment components of mixed use properties.
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