announced

The sold portfolio consists of 86 apartment communities inArkansas, Delaware, Florida, North Carolina, Ohio, Oregon, SouthCarolina, Tennessee, Texas, Virginia and Washington. At Dec. 31,the portfolio had total income per home of $744 per month, averageoccupancy of 94.4%, and operating margin of 62.3%, and an averageage of 24 years. The sale price equates to $66,578 per unit and a6.56% capitalization rate based on trailing 12-month NOI thatincorporates a $650-per-home capital expenditure reserve and a2.75% management fee.

UDR's retained portfolio--40,183 units in 146 communities--hasmonthly rents approaching $1,200 per month, operating marginsexceeding 68%, and an average age of 15 years, according to UDRpresident/chief executive Thomas Toomey. The company saysapproximately 47% of its net operating income now will be generatedfrom homes on the Pacific coast, while 24% will come from theVirginia-Washington, DC corridor and 19% will come fromFlorida.