Apollo and UDR Form Joint Venture for $2 Billion Apartment Portfolio
Apollo would invest $1.34 billion in equity for roughly a two-thirds stake in the joint venture; UDR would retain a one-third stake.
By Kelly CloonanApollo and real estate investment trust UDR are teaming up to own a portfolio of apartment buildings valued at about $2 billion.Under the terms of the deal, Apollo would invest $1.34 billion in equity to get a roughly two-thirds stake in a new joint venture. UDR would retain a one-t…