UDR issues $350 million senior notes due 2033.

UDR, Inc. (UDR) announced today that it has priced an offering of $350 million 1.900% senior unsecured notes due 2033.  The notes were priced at a discount to yield 1.939% or +110 basis points to the treasury curve.  UDR said that proceeds would be used to redeem the $183 million remaining amount of its 3.750% senior notes due 2024, and for other current maturities.

UDR is a national apartment REIT with a current portfolio of 166 properties/51,649 units in 21 coastal and sunbelt markets.  The company has a total market capitalization of approximately $15.2 billion and is a member of the S&P 500.