UDR to Expand Manhattan Portfolio with $325M Acquisition of Dwell95

UDR, Inc. UDR today announced that it has entered into a definitive agreement to acquire Dwell95, a 507-home apartment community in New York City's Financial District, for $325.0 million. It is anticipated that the purchase price will be funded through the issuance of approximately $50 million of operating partnership units (with a floor price of $25 per unit) and $275 million in cash, partially funded through the proceeds from the disposition of communities that no longer fit the long term growth profile of the Company.