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Secured and Unsecured Debt (Tables)
 3 Months Ended
Mar. 31, 2013
Debt Disclosure [Abstract]  
Secured debt instruments
The following is a summary of our secured and unsecured debt at March 31, 2013 and December 31, 2012 (amounts in thousands):
 
Principal Outstanding
 
For the Three Months Ended March 31, 2013
 
 
 
Weighted Average
Interest Rate
 
Weighted Average
Years to Maturity
 
Number of Communities
Encumbered
 
March 31, 2013
 
December 31, 2012
 
 
 
 
 
 
 
 
Secured Debt:
 
 
 
 
 
 
 
 
 
 Fixed Rate Debt
 
 
 
 
 
 
 
 
 
  Mortgage notes payable (a)
$
453,076

 
$
455,533

 
5.41
%
 
3.3

 
8

  Fannie Mae credit facilities (c)
629,063

 
631,078

 
5.11
%
 
5.6

 
23

 Total fixed rate secured debt
1,082,139

 
1,086,611

 
5.24
%
 
4.6

 
31

 Variable Rate Debt
 
 
 
 
 
 
 
 
 
  Mortgage notes payable (b)
37,415

 
37,415

 
1.09
%
 
0.3

 
2

  Tax-exempt secured notes payable (d)
94,700

 
94,700

 
0.87
%
 
9.9

 
2

  Fannie Mae credit facilities (c)
211,409

 
211,409

 
2.06
%
 
5.3

 
7

 Total variable rate secured debt
343,524

 
343,524

 
1.63
%
 
6.1

 
11

 Total Secured Debt
1,425,663

 
1,430,135

 
4.37
%
 
5.0

 
42

 
 
 
 
 
 
 
 
 
 
Unsecured Debt:
 
 
 
 
 
 
 
 
 
 Commercial Banks
 
 
 
 
 
 
 
 
 
Borrowings outstanding under an unsecured credit facility due October 2015 (e), (f)
170,000

 
76,000

 
1.15
%
 
2.6

 
 
 Senior Unsecured Notes
 
 
 
 
 
 
 
 
 
4.63% Medium-Term Notes due January 2022 (net of discount of $3,151 and $3,241) (f)
396,849

 
396,759

 
4.63
%
 
8.8

 
 
1.64% Term Notes due January 2016 (f)
35,000

 
35,000

 
1.64
%
 
2.8

 
 
2.68% Term Notes due January 2016 (f)
65,000

 
65,000

 
2.68
%
 
2.8

 
 
6.05% Medium-Term Notes due June 2013
122,500

 
122,500

 
6.05
%
 
0.2

 
 
5.13% Medium-Term Notes due January 2014
184,000

 
184,000

 
5.13
%
 
0.8

 
 
5.50% Medium-Term Notes due April 2014 (net of discount of $71 and $89)
128,429

 
128,411

 
5.50
%
 
1.0

 
 
5.25% Medium-Term Notes due January 2015 (net of discount of $230 and $262)
324,945

 
324,913

 
5.25
%
 
1.8

 
 
5.25% Medium-Term Notes due January 2016
83,260

 
83,260

 
5.25
%
 
2.8

 
 
2.90% Term Notes due January 2016 (f)
250,000

 
250,000

 
2.90
%
 
2.8

 
 
8.50% Debentures due September 2024
15,644

 
15,644

 
8.50
%
 
11.5

 
 
4.25% Medium-Term Notes due June 2018 (net of discount of $2,215 and $2,322) (f)
297,785

 
297,678

 
4.25
%
 
5.2

 
 
Other
32

 
33

 
N/A

 
N/A

 
 
  Total Unsecured Debt
2,073,444

 
1,979,198

 
4.31
%
 
3.8

 
 
Total Debt
$
3,499,107

 
$
3,409,333

 
4.34
%
 
4.2

 
 
Secured credit facilities
Further information related to these credit facilities is as follows (dollars in thousands):
 
March 31, 2013
 
December 31, 2012
Borrowings outstanding
$
840,472

 
$
842,487

Weighted average borrowings during the period ended
840,921

 
903,817

Maximum daily borrowings during the period ended
841,494

 
1,054,735

Weighted average interest rate during the period ended
4.4
%
 
4.3
%
Weighted average interest rate at the end of the period
4.3
%
 
4.4
%
Summary of short-term bank borrowings under bank credit facility
The following is a summary of short-term bank borrowings under UDR’s bank credit facility at March 31, 2013 and December 31, 2012 (dollars in thousands):
 
March 31, 2013
 
December 31, 2012
Total revolving credit facility
$
900,000

 
$
900,000

Borrowings outstanding at end of period (1)
170,000

 
76,000

Weighted average daily borrowings during the period ended
118,268

 
167,038

Maximum daily borrowings during the period ended
184,500

 
788,000

Weighted average interest rate during the period ended
1.2
%
 
1.5
%
Interest rate at end of the period
1.2
%
 
1.4
%
(1) Excludes $2.5 million and $3.9 million of letters of credit at March 31, 2013 and December 31, 2012, respectively.

(f) The Operating Partnership is a guarantor at March 31, 2013 and December 31, 2012.
Schedule of Maturities of Long-term Debt [Table Text Block]
The aggregate maturities, including amortizing principal payments of secured debt, of total debt for the next five calender years subsequent to March 31, 2013 are as follows (dollars in thousands):
Year
 
Total Fixed Secured Debt
 
Total Variable Secured Debt
 
Total Secured Debt
 
Total Unsecured Debt (a)
 
Total Debt
2013
 
$
8,928

 
$
37,415

 
$
46,343

 
$
121,776

 
$
168,119

2014
 
46,369

 
—

 
46,369

 
311,577

 
357,946

2015
 
197,229

 
—

 
197,229

 
494,389

 
691,618

2016
 
138,449

 
—

 
138,449

 
432,484

 
570,933

2017
 
178,378

 
65,000

 
243,378

 
—

 
243,378

Thereafter
 
512,786

 
241,109

 
753,895

 
713,218

 
1,467,113

Total
 
$
1,082,139

 
$
343,524

 
$
1,425,663

 
$
2,073,444

 
$
3,499,107

 
 
 
 
 
 
 
 
 
 
 
(a) With the exception of the 1.64% Term Notes due January 2016 and revolving credit facility which carry a variable interest rate, all unsecured debt carries fixed interest rates.