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COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 30, 2022

COMMITMENTS AND CONTINGENCIES

Summary of 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.