COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2018

The following summarizes the Company’s real estate commitments at December 31, 2018 (dollars in thousands):


	Number				UDR's Remaining
	Properties	Investment			Commitment
Joint ventures:
Preferred equity investments	3	$	43,244	(a)	$	48,892	(b)
Other investments	-		4,154			13,500	(c)
Total		$	47,398		$	62,392

(a)

Represents UDR’s investment in 1532 Harrison, 1300 Fairmount and Essex for the properties under development as of December 31, 2018.

(b)

Represents UDR’s remaining commitment for 1532 Harrison, 1300 Fairmount and Essex.

(c)

Represents UDR’s remaining commitment for other investment ventures.

Schedule of future minimum lease payments

Future minimum lease payments as of December 31, 2018 are as follows (dollars in thousands):


	Ground
	Leases (a)		Office Space
2019	$	4,901	$	76
2020		4,901		76
2021		4,901		32
2022		4,901		—
2023		4,901		—
Thereafter		313,918		—
Total	$	338,423	$	184

For purposes of our ground lease contracts, the Company uses the minimum lease payment, if stated in the agreement. For ground lease agreements where there is a rent reset provision based on fair market value or changes in the consumer price index but does not include a specified minimum lease payment, the Company uses the current rent over the remainder of the lease term.