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Commitments and Contingencies (UNITED DOMINION REALTY, L.P.) Commitments and Contingencies (UNITED DOMINION REALTY, L.P.)
 9 Months Ended
Sep. 30, 2014
Entity Information [Line Items]  
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
Commitments
Real Estate Under Development
The following summarizes the Company’s real estate commitments at September 30, 2014 (dollars in thousands):
 
Number of
Properties
 
Costs Incurred
to Date (a)
 
Expected Costs
to Complete
 
 Average Ownership
Stake
Wholly-owned — under development
3
 
$
321,607

(b)
$
78,793

 
100
%
Wholly-owned — redevelopment
1
 
80,619

(b)
17,381

 
100
%
Joint ventures:
 
 
 
 
 
 
 
Unconsolidated joint ventures
2
 
158,986

 
143,981

(c)
51
%
Participating loan investments
1
 
43,822

(d)
48,187

(e)
0
%
 
 
 
$
605,034

 
$
288,342

 
 

(a)
Represents 100% of project costs incurred to date.
(b)
Costs incurred to date include $26.8 million and $2.1 million of accrued fixed assets for development and redevelopment, respectively.
(c)
Represents UDR’s contributed and remaining equity commitment in unconsolidated joint ventures.
(d)
Represents the participating loan balance funded as of September 30, 2014.
(e)
Represents UDR’s remaining participating loan commitment for Steele Creek.
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.
United Dominion Reality L.P. [Member]
  
Entity Information [Line Items]  
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
Commitments
Real Estate Under Development
The following summarizes the Operating Partnership’s real estate commitments at September 30, 2014 (dollars in thousands):
 
Number of
Properties
 
Costs Incurred
to Date (a)
 
Expected Costs
to Complete (unaudited)
Real estate communities — under development
1
 
$
119,828

 
$
12,172


(a) Includes $7.0 million of accrued fixed assets for development.
Contingencies
Litigation and Legal Matters
The Operating Partnership is subject to various legal proceedings and claims arising in the ordinary course of business. The Operating Partnership cannot determine the ultimate liability with respect to such legal proceedings and claims at this time. The General Partner believes that such liability, to the extent not provided for through insurance or otherwise, will not have a material adverse effect on the Operating Partnership’s financial condition, results of operations or cash flow.