UDR Eclipses $1.5B In NY Residential Holdings

Law360, New York (February 9, 2012, 6:45 PM EST) -- UDR Inc., one of the largest residential real estate investment trusts in the country, has fulfilled its goal of owning at least $1.5 billion in Manhattan apartment properties in less than 13 months and has established itself as a major player in the New York market, industry watchers said Thursday.

Tom Toomey, CEO of the Highlands Ranch, Colo.-based REIT, told Bloomberg News in August that UDR planned to make long-term investments of $1.5 billion to $1.8 billion in Manhattan residential buildings. At the time, the company...
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