XML 49 R38.htm IDEA: XBRL DOCUMENT
v3.25.2

REPORTABLE SEGMENTS (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
REPORTABLE SEGMENTS |
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to Net income/(loss) | ​ The following table details rental income and NOI for UDR’s reportable segments for the three and six months ended June 30, 2025 and 2024, and reconciles NOI to Net income/(loss) attributable to UDR, Inc. on the Consolidated Statements of Operations (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, (a) | ​ | June 30, (b)
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
Reportable apartment home segment lease revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 125,874 | ​ | $ | 122,660 | ​ | $ | 248,724 | ​ | $ | 242,399
Mid-Atlantic Region | ​ |  | 82,747 | ​ |  | 79,261 | ​ |  | 160,831 | ​ |  | 154,065
Northeast Region | ​ |  | 80,548 | ​ |  | 77,972 | ​ |  | 160,635 | ​ |  | 155,729
Southeast Region | ​ |  | 56,320 | ​ |  | 56,933 | ​ |  | 112,812 | ​ |  | 113,716
Southwest Region | ​ |  | 49,906 | ​ |  | 50,308 | ​ |  | 99,617 | ​ |  | 100,461
Non-Mature Communities/Other | ​ |  | 12,308 | ​ |  | 12,561 | ​ |  | 30,341 | ​ |  | 32,505
Total segment and consolidated lease revenue | ​ | $ | 407,703 | ​ | $ | 399,695 | ​ | $ | 812,960 | ​ | $ | 798,875
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reportable apartment home segment other revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 3,398 | ​ | $ | 2,929 | ​ | $ | 6,636 | ​ | $ | 5,963
Mid-Atlantic Region | ​ |  | 3,714 | ​ |  | 3,401 | ​ |  | 7,153 | ​ |  | 6,474
Northeast Region | ​ |  | 2,426 | ​ |  | 2,131 | ​ |  | 4,593 | ​ |  | 3,793
Southeast Region | ​ |  | 3,240 | ​ |  | 2,715 | ​ |  | 6,305 | ​ |  | 5,128
Southwest Region | ​ |  | 2,345 | ​ |  | 2,205 | ​ |  | 4,741 | ​ |  | 4,180
Non-Mature Communities/Other | ​ |  | 175 | ​ |  | 252 | ​ |  | 449 | ​ |  | 584
Total segment and consolidated other revenue | ​ | $ | 15,298 | ​ | $ | 13,633 | ​ | $ | 29,877 | ​ | $ | 26,122
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total reportable apartment home segment rental income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 129,272 | ​ | $ | 125,589 | ​ | $ | 255,360 | ​ | $ | 248,362
Mid-Atlantic Region | ​ |  | 86,461 | ​ |  | 82,662 | ​ |  | 167,984 | ​ |  | 160,539
Northeast Region | ​ |  | 82,974 | ​ |  | 80,103 | ​ |  | 165,228 | ​ |  | 159,522
Southeast Region | ​ |  | 59,560 | ​ |  | 59,648 | ​ |  | 119,117 | ​ |  | 118,844
Southwest Region | ​ |  | 52,251 | ​ |  | 52,513 | ​ |  | 104,358 | ​ |  | 104,641
Non-Mature Communities/Other | ​ |  | 12,483 | ​ |  | 12,813 | ​ |  | 30,790 | ​ |  | 33,089
Total segment and consolidated rental income | ​ | $ | 423,001 | ​ | $ | 413,328 | ​ | $ | 842,837 | ​ | $ | 824,997
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total reportable apartment home segment operating expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Personnel | ​ | $ | 18,902 | ​ | $ | 17,685 | ​ | $ | 37,907 | ​ | $ | 36,066
Utilities | ​ | ​ | 17,867 | ​ | ​ | 17,024 | ​ | ​ | 36,614 | ​ | ​ | 34,942
Repair and maintenance | ​ | ​ | 26,008 | ​ | ​ | 24,273 | ​ | ​ | 50,355 | ​ | ​ | 48,513
Administrative and marketing | ​ | ​ | 10,006 | ​ | ​ | 8,974 | ​ | ​ | 19,306 | ​ | ​ | 17,096
Real estate taxes | ​ | ​ | 49,071 | ​ | ​ | 50,871 | ​ | ​ | 100,406 | ​ | ​ | 100,398
Insurance | ​ | ​ | 5,309 | ​ | ​ | 6,216 | ​ | ​ | 10,610 | ​ | ​ | 12,217
Non-Mature Communities/Other (b) | ​ | ​ | 5,458 | ​ | ​ | 4,284 | ​ | ​ | 12,158 | ​ | ​ | 12,368
Total segment and consolidated operating expenses | ​ | $ | 132,621 | ​ | $ | 129,327 | ​ | $ | 267,356 | ​ | $ | 261,600
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reportable apartment home segment NOI | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Same-Store Communities | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
West Region | ​ | $ | 96,232 | ​ | $ | 92,626 | ​ | $ | 188,125 | ​ | $ | 183,279
Mid-Atlantic Region | ​ |  | 59,541 | ​ |  | 56,432 | ​ |  | 115,541 | ​ |  | 109,927
Northeast Region | ​ |  | 53,933 | ​ |  | 52,583 | ​ |  | 106,389 | ​ |  | 103,057
Southeast Region | ​ |  | 40,574 | ​ |  | 40,816 | ​ |  | 81,136 | ​ |  | 81,088
Southwest Region | ​ |  | 33,075 | ​ |  | 33,015 | ​ |  | 65,658 | ​ |  | 65,325
Non-Mature Communities/Other | ​ |  | 7,025 | ​ |  | 8,529 | ​ |  | 18,632 | ​ |  | 20,721
Total segment and consolidated NOI | ​ |  | 290,380 | ​ |  | 284,001 | ​ |  | 575,481 | ​ |  | 563,397
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, (a) | ​ | June 30, (b)
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
Reconciling items: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Joint venture management and other fees | ​ |  | 2,398 | ​ |  | 1,992 | ​ |  | 4,510 | ​ |  | 3,957
Property management | ​ |  | (13,747) | ​ |  | (13,433) | ​ |  | (27,392) | ​ |  | (26,812)
Other operating expenses | ​ |  | (7,753) | ​ |  | (7,593) | ​ |  | (15,812) | ​ |  | (14,421)
Real estate depreciation and amortization | ​ |  | (163,191) | ​ |  | (170,488) | ​ |  | (324,585) | ​ |  | (340,346)
General and administrative | ​ |  | (19,929) | ​ |  | (20,136) | ​ |  | (39,424) | ​ |  | (37,946)
Casualty-related (charges)/recoveries, net | ​ |  | (3,382) | ​ |  | (998) | ​ |  | (6,679) | ​ |  | (7,276)
Other depreciation and amortization | ​ |  | (7,387) | ​ |  | (4,679) | ​ |  | (14,454) | ​ |  | (8,995)
Gain/(loss) on sale of real estate owned | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 47,939 | ​ | ​ | 16,867
Income/(loss) from unconsolidated entities | ​ |  | 3,629 | ​ |  | 4,046 | ​ |  | 9,443 | ​ |  | 13,131
Interest expense | ​ |  | (48,665) | ​ |  | (47,811) | ​ |  | (96,366) | ​ |  | (95,873)
Interest income and other income/(expense), net | ​ |  | 8,134 | ​ |  | 6,498 | ​ |  | 10,055 | ​ |  | 12,363
Tax (provision)/benefit, net | ​ |  | (258) | ​ |  | (386) | ​ |  | (416) | ​ |  | (723)
Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | ​ |  | (2,545) | ​ |  | (2,013) | ​ |  | (7,884) | ​ |  | (5,162)
Net (income)/loss attributable to noncontrolling interests | ​ |  | (11) | ​ |  | (117) | ​ |  | (23) | ​ |  | (129)
Net income/(loss) attributable to UDR, Inc. | ​ | $ | 37,673 | ​ | $ | 28,883 | ​ | $ | 114,393 | ​ | $ | 72,032
(a) | Same-Store Community population consisted of 54,915 apartment homes.
(b) | Same-Store Community population consisted of 54,442 apartment homes.
(c) | Non-Mature Communities/Other operating expenses include costs to manage recently acquired, developed and redeveloped communities, and the non-apartment components of mixed-use properties.
Details of assets of UDR's reportable segments | The following table details the assets of UDR’s reportable segments as of June 30, 2025 and December 31, 2024 (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31,
​ | ​ | 2025 | ​ | 2024
Reportable apartment home segment assets: |  | ​ |  |  | ​ |
Same-Store Communities (a): |  | ​ |  |  | ​ |
West Region | ​ | $ | 4,746,131 | ​ | $ | 4,712,621
Mid-Atlantic Region | ​ |  | 3,421,914 | ​ |  | 3,401,208
Northeast Region | ​ |  | 3,807,781 | ​ |  | 3,788,083
Southeast Region | ​ |  | 1,656,512 | ​ |  | 1,635,360
Southwest Region | ​ |  | 1,896,791 | ​ |  | 1,889,173
Non-Mature Communities/Other | ​ |  | 782,169 | ​ |  | 786,918
Total segment assets | ​ |  | 16,311,298 | ​ |  | 16,213,363
Accumulated depreciation | ​ |  | (7,157,371) | ​ |  | (6,901,026)
Total segment assets — net book value | ​ |  | 9,153,927 | ​ |  | 9,312,337
Reconciling items: | ​ |  |  | ​ |  |
Cash and cash equivalents | ​ |  | 1,532 | ​ |  | 1,326
Restricted cash | ​ |  | 33,577 | ​ |  | 34,101
Notes receivable, net | ​ |  | 143,492 | ​ |  | 247,849
Investment in and advances to unconsolidated joint ventures, net | ​ |  | 879,781 | ​ |  | 917,483
Operating lease right-of-use assets | ​ | ​ | 185,125 | ​ | ​ | 186,997
Other assets | ​ |  | 249,651 | ​ |  | 197,493
Total consolidated assets | ​ | $ | 10,647,085 | ​ | $ | 10,897,586
(a) | Same-Store Community population consisted of 54,915 apartment homes.
​

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration