Getting your player ready...
UDR Inc. priced its 2.9 million-share secondary offering, which raised $101.9 million for the Littleton-based real estate investment trust, officials announced Wednesday.
(NYSE: UDR) plans to use the offering’s proceeds — which suggest a per share price of $35.14 — for working capital and general corporate purposes.
Credit Suisse, the sole underwriter on the offering, was granted a 30-day option to purchase an additional 435,000 shares.
As of June 30, 2015, UDR has an ownership position in developments with 49,322 apartments. Recent transactions included the $908 million acquisition of six apartment complexes in Washington, D.C.
Alicia Wallace: 303-954-1939, awallace@denverpost.com or twitter.com/aliciawallace
