From TokenPost · · 50s
Apollo Funds and UDR Plan $1.34 Billion Apartment Stake
Apollo-managed funds and UDR Inc. form $1.34 billion venture for 19 apartment communities.
In brief
Apollo-managed funds and UDR Inc. form $1.34 billion venture for 19 apartment communities. Apollo-managed funds and UDR Inc. will invest $1.34 billion for a two-thirds stake in 19 apartment communities valued at $2 billion. Originally reported by TokenPost.
Apollo and UDR Form Apartment Venture
Apollo-managed funds and UDR Inc. plan to form a venture for 19 apartment communities valued at about $2 billion.
Apollo Invests $1.34 Billion for Two-Thirds Stake
Apollo will invest $1.34 billion for an approximately two-thirds stake in the venture, with UDR keeping a one-third interest.
Transaction Expected to Close Oct 29
The transaction is expected to close on October twenty-ninth, subject to transaction documents and customary closing conditions.
The essence
Apollo-managed funds and UDR Inc. will invest $1.34 billion for a two-thirds stake in 19 apartment communities valued at $2 billion.
