CHICAGO, Dec. 18, 2025 /PRNewswire/ -- LaSalle Investment Management ("LaSalle") announced today that it has closed on a $230 million expansion of its joint venture with UDR, Inc. (NYSE: UDR), a leading multifamily real estate investment trust. This transaction increases the total size of the joint venture to approximately $850 million.

The expansion adds four apartment communities totaling 974 homes to the joint venture's portfolio, which now comprises 2,564 homes. The newly contributed properties are located in Portland, Orlando, and Richmond, with an average vintage of 1985, broadening the venture's geographic reach.

"Our joint venture with UDR has been a strong and successful collaboration since its inception, and we are pleased to continue building on that foundation," said Stuart Sziklas, Global Portfolio Manager, LaSalle Investment Management. "UDR has been an excellent partner that has delivered value through its high-quality operating platform and commitment to innovation. We look forward to finding additional opportunities to grow our relationship."

Under the terms of the agreement, LaSalle will hold a 49 percent ownership stake in the newly contributed assets, with UDR retaining 51 percent.

Tom Toomey, UDR's Chairman, CEO, and President, added, "We are delighted to expand our successful joint venture. These four apartment communities enhance the geographic diversification of the joint venture and offer current return to LaSalle."

LaSalle and UDR will continue to explore growth opportunities for the joint venture in 2026.

About LaSalle Investment Management | Investing Today. For Tomorrow.
LaSalle Investment Management, a subsidiary of JLL, is a globally integrated, diverse real estate investment manager. On a global basis, LaSalle manages US$88.5 billion of assets in private and public real estate equity and debt investments as of Q2 2025. LaSalle's client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a diverse range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

For more information, please visit www.lasalle.com, and LinkedIn.

About UDR, Inc.
UDR, Inc. (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S. markets. As of September 30, 2025, UDR owned or had an ownership position in 60,535 apartment homes, including 300 apartment homes under development. For over 53 years, UDR has delivered long-term value to shareholders, the best standard of service to residents and the highest quality experience for associates.

Contact    Alissa Schachter, LaSalle Investment Management
                Doug Allen, Dukas Linden Public Relations

Email        Alissa.Schachter@lasalle.com
                 LaSalle@DLPR.com

Telephone   +1-312-339-0625
                    +1-646-722-6530

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SOURCE LaSalle Investment Management