UDR prices $400 million senior notes due 2032.

UDR announced today that it has priced an offering of $400 million 2.10% senior unsecured notes due 2032.  The notes were priced at a discount to yield 2.11%, or 150 basis points over the treasury curve.  The company said that it intends to use proceeds from the offering to fund a tender offer for UDR's outstanding $300 million 3.75% senior notes due 2024, and to retire certain secured indebtedness due in 2023.

Established in 1972, UDR is a national apartment REIT with a current operating portfolio of 164 properties in 20 markets across the U.S.  The company has a total market capitalization of approximately $16.4 billion and is a member of the S&P 500.