UDR, Apollo Form $2.0 Billion Strategic Partnership

08:26 AM EDT, 10/21/2026 (MT Newswires) -- UDR (UDR) and Apollo Global Management (APO) said Wednesday they plan to form a new joint venture involving a portfolio of 19 apartment communities totaling 7,059 dwellings and valued at about $2.0 billion. Under the terms of the JV, UDR will continue to manage and operate the portfolio in exchange for an asset management fee, according to a statement. Funds managed by Apollo and affiliates will invest $1.34 billion of equity into the JV, acquiring about two-thirds interest. UDR will retain a one-third interest and consolidate the joint venture, the companies said. The transaction is expected to close on Oct. 29, subject to execution of documentation and customary closing conditions, they said.