UDR Inc. looks first at redevelopment, then rebounding markets

10/23/2009 | REIT.com

In terms of investments, apartment REIT UDR Inc. is looking first at redevelopment opportunities, then markets showing signs of recovery and after that, development opportunities, Chairman and CEO Tom Toomey said. The REIT probably won't do much development in 2010, he said, although the fundamentals are starting to make sense for development deals in the Washington area. Toomey said building probably can be justified when it will produce a yield 100 to 150 basis points higher than buying.

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