UDR and Apollo Global Management Form $2 Billion Apartment Joint Venture
UDR (NYSE: UDR) and Apollo Global Management (NYSE: APO) have announced the formation of a new long-term joint venture focused on owning a diversified portfolio of apartment properties. As part of the agreement, UDR will contribute 19 apartment communities with an estimated total value of approximately $2 billion. Apollo Global Management will provide $1.34 billion in equity capital to fund the partnership. This strategic move aims to leverage UDR's real estate assets alongside Apollo's significant capital resources to expand their footprint in the multi-family residential sector.
