Apollo, UDR Plan $2 Billion Apartment Joint Venture

• Apollo and UDR plan to form a joint venture owning 19 apartment communities valued at approximately $2 billion.
• Apollo-managed funds and affiliates will invest $1.34 billion for an approximately two-thirds stake.
• UDR will retain a one-third stake and continue managing the portfolio for an asset management fee.
• UDR can repurchase its partner's stake at an expected 7%-7.5% fixed return for a limited period starting at closing's fifth anniversary.
• The transaction is expected to close on October 29, 2026, subject to documentation and customary closing conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Apollo Global Management Inc. published the original content used to generate this news brief on October 22, 2026, and is solely responsible for the information contained therein.