XML 60 R41.htm IDEA: XBRL DOCUMENT v3.10.0.1
JOINT VENTURES AND PARTNERSHIPS - Summary (Details)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
USD ($)
community
item
Sep. 30, 2017
USD ($)
item
Sep. 30, 2018
USD ($)
community
item
Sep. 30, 2017
USD ($)
item
Aug. 31, 2018
item
Dec. 31, 2017
USD ($)
May 31, 2017
Mar. 31, 2017
Jan. 31, 2017
May 31, 2015
community
Financial information relating to unconsolidated joint ventures operations                    
Operating income/(loss) $ (1,382) $ 1,819 $ (5,091) $ 11,591            
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Investment in unconsolidated entities 767,376   767,376     $ 720,830        
Deferred gains on the sale of depreciable property $ 11,100   $ 11,100     10,900        
Number of real estate properties | community 127   127              
Investment in and advances to unconsolidated joint ventures, net $ 767,376   $ 767,376     720,830        
Unconsolidated Joint Ventures                    
Financial information relating to unconsolidated joint ventures operations                    
Total revenues 76,203 71,200 215,140 205,475            
Property operating expenses 30,096 28,157 85,435 79,622            
real estate depreciation and amortization 29,545 28,264 85,063 82,344            
Operating income/(loss) 16,562 14,779 44,642 43,509            
Interest expense (22,919) (21,849) (63,990) (64,083)            
Gain (loss) on sale of property   30,153   30,153            
Other income/(loss) 40 (515) 141 (435)            
Net income /(loss) (6,317) $ 22,568 (19,207) $ 9,144            
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Total real estate, net 3,267,944   3,267,944     3,236,180        
Cash and cash equivalents 53,141   53,141     36,411        
Other assets 91,246   91,246     50,158        
Total assets 3,412,331   3,412,331     3,322,749        
Third party debt 2,108,790   2,108,790     2,005,566        
Accounts payable and accrued liabilities 63,220   63,220     85,643        
Total liabilities 2,172,010   2,172,010     2,091,209        
Total equity 1,240,321   1,240,321     1,231,540        
Investment in unconsolidated entities 569,038   569,038     599,196        
Unconsolidated Joint Venture West Coast Development JV                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Investment in unconsolidated entities $ 102,100   $ 102,100     102,100        
Preferred Equity Investment West Coast Development JV                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
UDR's Ownership Interest 49.00%   49.00%       49.00% 49.00% 49.00% 48.00%
Number of real estate properties | community                   5
Rate 6.50%   6.50%              
Preferred Equity Investment 1200 Broadway Nashville TN                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Number of apartment homes | item   313   313            
Rate   8.00%   8.00%            
Preferred Equity Investment 1641 Lincoln Santa Monica CA                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Number of apartment homes | item         66          
Rate         12.00%          
Preferred Equity Investment 1300 Fairmount Philadelphia, PA                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Number of apartment homes | item         471          
Rate         9.00%          
Preferred Equity Investment Essex Orlando, FL                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Number of apartment homes | item 330   330              
Rate 12.50%   12.50%              
Development Community                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Investment in unconsolidated entities $ 198,338   $ 198,338     121,634        
Development Community | Unconsolidated Joint Venture UDR Met Life I Partnership                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Investment in unconsolidated entities $ 34,869   $ 34,869     $ 34,653        
UDR's Ownership Interest 50.00%   50.00%     50.00%        
Number of apartment homes | community 150   150              
Number of real estate properties | community 1   1              
Development Community | Unconsolidated Joint Venture Vitruvian Park                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Number of real estate properties | community 1   1              
Development Community | Preferred Equity Investment West Coast Development JV                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Investment in unconsolidated entities $ 65,476   $ 65,476     $ 64,226        
Income from investments $ 25 $ 3,266 $ 974 $ 16,626            
Rate 6.50%   6.50%              
Development Community | Preferred Equity Investment 1532 Harrison San Francisco, CA                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
UDR commitment $ 24,645   $ 24,645              
Investment in unconsolidated entities 21,373   21,373     11,346        
Income from investments $ 721 226 $ 1,492 228            
Rate 11.00%   11.00%              
Years to Maturity     3 years 9 months 18 days              
Development Community | Preferred Equity Investment 1200 Broadway Nashville TN                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
UDR commitment $ 55,558   $ 55,558              
Investment in unconsolidated entities 48,805   48,805     18,011        
Income from investments $ 859 65 $ 1,870 65            
Rate 8.00%   8.00%              
Years to Maturity     4 years              
Development Community | Preferred Equity Investment 1641 Lincoln Santa Monica CA                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
UDR commitment $ 8,800   $ 8,800              
Investment in unconsolidated entities 8,938   8,938              
Income from investments $ 141   $ 141              
Rate 12.00%   12.00%              
Years to Maturity     4 years              
Development Community | Preferred Equity Investment 1300 Fairmount Philadelphia, PA                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
UDR commitment $ 51,393   $ 51,393              
Investment in unconsolidated entities 2,670   2,670              
Income from investments $ 27   $ 27              
Rate 9.00%   9.00%              
Years to Maturity     5 years              
Development Community | Preferred Equity Investment Essex Orlando, FL                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
UDR commitment $ 12,886   $ 12,886              
Investment in unconsolidated entities 6,326   6,326              
Income from investments $ 46   $ 46              
Rate 12.50%   12.50%              
Years to Maturity     5 years              
Development Community | Other Investment The Portals Washington, DC                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
UDR commitment $ 38,559   $ 38,559              
Investment in unconsolidated entities 41,996   41,996     26,535        
Income from investments $ 1,015 $ 330 $ 2,523 $ 346            
Rate 11.00%   11.00%              
Years to Maturity     2 years 8 months 12 days              
Development Community | Other Investment Ventures                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
UDR commitment $ 15,000   $ 15,000              
Investment in unconsolidated entities 2,754   2,754     1,516        
Income from investments (77)   (262)              
Operating Community | Unconsolidated Joint Venture UDR MetLife II Partnership                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Investment in unconsolidated entities $ 299,953   $ 299,953     $ 303,702        
UDR's Ownership Interest 50.00%   50.00%     50.00%        
Number of apartment homes | community 4,059   4,059              
Number of real estate properties | community 18   18              
Operating Community | Unconsolidated Joint Venture Other MetLife                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Investment in unconsolidated entities $ 119,893   $ 119,893     $ 135,563        
UDR's Ownership Interest 50.60%   50.60%     50.60%        
Number of apartment homes | community 1,437   1,437              
Number of real estate properties | community 5   5              
Operating Community | Unconsolidated Joint Venture Vitruvian Park                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Investment in unconsolidated entities $ 71,225   $ 71,225     $ 78,404        
UDR's Ownership Interest 50.00%   50.00%     50.00%        
Number of apartment homes | community 1,513   1,513              
Number of real estate properties | community 3   3              
Operating Community | Unconsolidated Joint Venture Three Washington DC                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Investment in unconsolidated entities $ 6,453   $ 6,453     $ 8,958        
UDR's Ownership Interest 30.00%   30.00%     30.00%        
Number of apartment homes | community 660   660              
Number of real estate properties | community 3   3              
Operating Community | Unconsolidated Joint Venture West Coast Development JV                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Investment in unconsolidated entities $ 36,645   $ 36,645     $ 37,916        
UDR's Ownership Interest 47.00%   47.00%     47.00%        
Number of apartment homes | community 293   293              
Number of real estate properties | community 1   1              
Land Parcel | Unconsolidated Joint Venture Vitruvian Park                    
Combined summary of balance sheets relating to unconsolidated joint ventures                    
Number of real estate properties | community 5   5