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Commitments and Contingencies | 6 Months Ended
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Jun. 30, 2015
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, 2015 (dollars in thousands):
| Number of Properties |  | Costs Incurred as of June 30, 2015 (a) |  | Expected Costs to Complete |  | Average Ownership Stake
Wholly-owned — under development | 1 |  | $ | 92,645 |  | (b) | $ | 249,355 |  |  | 100 | %
Wholly-owned — redevelopment | 1 |  | 4,854 |  | (b) | 10,146 |  |  | 100 | %
Joint ventures: |  |  |  |  |  |  |
Unconsolidated joint ventures | 4 |  | 335,539 |  |  | 163,791 |  | (c) | Various |
Participating loan investments | 1 |  | 85,208 |  | (d) | 6,801 |  | (e) | 0 | %
Preferred equity investments | 5 |  | 129,592 |  | (f) | 6,735 |  | (g) | 48 | %
|  |  | $ | 647,838 |  |  | $ | 436,828 |  |  |
(a) | Represents 100% of project costs incurred as of June 30, 2015.
(b) | Costs incurred to date include $114,000 and $1.3 million of accrued fixed assets for development and redevelopment, respectively.
(c) | Represents UDR’s proportionate share of expected remaining costs to complete.
(d) | Represents the participating loan balance funded as of June 30, 2015.
(e) | Represents UDR’s remaining participating loan commitment for Steele Creek.
(f) | Represents UDR's share of capital contributed to the West Coast Development Joint Venture as of June 30, 2015.
(g) | Represents UDR's remaining funding commitment on Katella Grand II.
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.

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