Apollo, UDR Partner on $2B Multifamily Joint Venture
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed multifamily deal value tracked in October 2026: $7.4B across 78 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
Multifamily real estate investment trust (REIT) UDR has partnered with alternative asset manager Apollo Global Management on a $2 billion multifamily joint venture, the firms announced Wednesday. Together, UDR and Apo…
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UDR, Apollo form $2B joint venture
Apollo will invest $1.34 billion of capital to acquire an approximate two-thirds interest in 19 properties, which carry a roughly 6% cap rate and an average age of 39 years.
Apollo, UDR Forming $2-Billion Multifamily Joint Venture
UDR, Inc. and Apollo said Wednesday they would form a new, long-term joint venture involving a diversified portfolio of apartment communities. Apollo will invest approximately $1.34 billion of equity capital for a two…