UDR and Apollo Global Management Announce $2 Billion Joint Venture

UDR and Apollo Global Management have announced a joint venture valued at approximately $2 billion, which will include a portfolio of 19 apartment communities with 7,059 dwellings. Apollo will invest $1.34 billion in equity for a two-thirds interest in the venture, while UDR will retain one-third and manage the portfolio for an asset management fee. The transaction is expected to close on October 29, 2026, pending final documentation and customary closing conditions.