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COMMITMENTS AND CONTINGENCIES | 9 Months Ended
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Sep. 30, 2022
COMMITMENTS AND CONTINGENCIES |
COMMITMENTS AND CONTINGENCIES | 13. COMMITMENTS AND CONTINGENCIES Commitments Real Estate Commitments The following summarizes the Company’s real estate commitments at September 30, 2022 (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number | ​ | UDR's | ​ | UDR's Remaining | ​
​ | ​ | Properties | ​ | Investment (a) | ​ | Commitment | ​
Wholly-owned — under development |  | 5 | ​ | $ | 368,465 | ​ | $ | 163,035 |
Unconsolidated joint ventures and partnerships: |  |  | ​ |  |  | ​ |  |  |
Real estate technology investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
RETV I (b) | ​ | - | ​ | ​ | 25,639 | ​ | ​ | 4,320 | ​
RETV II | ​ | - | ​ | ​ | 9,607 | ​ | ​ | 8,100 | ​
RET Strategic Fund | ​ | - | ​ | ​ | 7,435 | ​ | ​ | 17,500 | ​
Climate Technology Funds (c) | ​ | - | ​ | ​ | 5,262 | ​ | ​ | 4,656 | ​
RET ESG Fund (d) | ​ | - | ​ | ​ | 3,959 | ​ | ​ | 6,000 | ​
Total |  |  | ​ | $ | 420,367 | ​ | $ | 203,611 |
(a) | Represents UDR’s investment as of September 30, 2022.
(b) | Includes the impact of unrealized losses for the nine months ended September 30, 2022, which primarily relate to a decrease in SmartRent's public share price. (See Note 5, Joint Ventures and Partnerships).
(c) | In March 2022, the Company committed to invest $10.0 million in climate technology funds and funded $5.3 million. As of September 30, 2022, the investment is recorded in Other Assets on the Consolidated Balance Sheets.
(d) | In April 2022, the Company committed to invest $10.0 million in an ESG technology fund and funded $4.0 million. As of September 30, 2022, the investment is recorded in Investment in and advances to unconsolidated joint ventures, net on the Consolidated Balance Sheets.
As of September 30, 2022, the Company recorded approximately $1.0 million in casualty-related charges related to communities located in Florida as a result of Hurricane Ian. UDR does not anticipate the overall cost, including cleanup costs incurred or to be incurred subsequent to quarter end, to be material to its financial statements. 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 flows.

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