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Commitments and Contingencies
 6 Months Ended
Jun. 30, 2012
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
Commitments
Real Estate Under Development
The following summarizes the Company’s real estate commitments at June 30, 2012 (dollars in thousands):
 
Number of
Properties
 
Costs Incurred
to Date
 
Expected Costs
to Complete (a)
 
 Average Ownership
Stake
Wholly owned — under development
5

 
$
282,006

 
$
319,094

 
100
%
Joint ventures:
 
 
 
 
 
 
 
Consolidated joint ventures
1

 
$
13,857

 
$
32,143

 
90
%
Unconsolidated joint ventures (b)
2

 
36,874

 
16,843

 
95
%
 
 
 
$
332,737

 
$
368,080

 
 

(a) Represents UDR's remaining equity commitment of unconsolidated joint ventures.
(b) Excludes land related to San Francisco and Boston development joint ventures. See Note 5, Joint Ventures.
Contingencies
Litigation and Legal Matters
The Company is subject to various legal proceedings and claims arising in the ordinary course of business. The Company cannot determine the ultimate liability with respect to such legal proceedings and claims at this time. The Company believes that such liability, to the extent not provided for through insurance or otherwise, will not have a material adverse effect on our financial condition, results of operations or cash flow.