This content is from:APP亚博娱乐
AvalonBay, UDR In $500M Asset Swap
U.S. apartment owner, AvalonBay Communities, has completed an asset exchange program with UDR.
U.S. apartment owner,AvalonBayCommunities, has completed an asset exchange program withUDR. The swap included exchanging three existing AvalonBay apartment communities for six UDR apartment communities and $26 million in cash.
The AvalonBay portfolio owned by UDR has an exchange value of $263 million, while assets in the UDR portfolio transferred to AvalonBay have an exchange value of $237 million, addCitybizlist Real Estate. AvalonBay will also assume a $55.4 million fixed-rate mortgage with a maturity date of June 2013.
Click here for the release fromAvalonBay.
Click here for additional coverage fromCitybizlist Real Estate.