UDR (UDR) 10-Q 31 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 30, 2017
Entity Information [Line Items]
Entity Registrant Name	UDR, Inc.
Entity Central Index Key	74,208
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		267,756,048
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
Entity Registrant Name	United Dominion Realty, L.P.
Entity Central Index Key	1,018,254
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Real estate owned:
Real estate held for investment	$ 9,456,293	$ 9,271,847
Less: accumulated depreciation	(3,235,851)	(2,923,072)
Real estate held for investment, net	6,220,442	6,348,775
Real estate under development (net of accumulated depreciation of $1,737 and $0, respectively)	532,580	342,282
Real estate held for disposition (net of accumulated depreciation of $0 and $553, respectively)		1,071
Total real estate owned, net of accumulated depreciation	6,753,022	6,692,128
Cash and cash equivalents	1,788	2,112
Restricted cash	20,413	19,994
Notes receivable, net	18,594	19,790
Investment in and advances to unconsolidated joint ventures, net	839,864	827,025
Other assets	127,024	118,535
Total assets	7,760,705	7,679,584
Liabilities:
Secured debt, net	804,977	1,130,858
Unsecured debt, net	2,874,034	2,270,620
Real estate taxes payable	35,337	17,388
Accrued interest payable	30,192	29,257
Security deposits and prepaid rent	32,619	34,238
Distributions payable	91,454	86,936
Accounts payable, accrued expenses, and other liabilities	96,009	103,835
Total liabilities	3,964,622	3,673,132
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership	943,182	909,482
Equity:
Common stock, $0.01 par value; 350,000,000 shares authorized: 267,559,391 and 267,259,469 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	2,676	2,673
Additional paid-in capital	4,643,803	4,635,413
Distributions in excess of net income	(1,843,490)	(1,585,825)
Accumulated other comprehensive income/(loss), net	(4,167)	(5,609)
Total stockholders’ equity	2,845,023	3,093,110
Noncontrolling interests	7,878	3,860
Total equity	2,852,901	3,096,970
Total liabilities and equity	7,760,705	7,679,584
8.00% Series E Cumulative Convertible Preferred Stock
Equity:
Preferred stock, no par value; 50,000,000 shares authorized	46,200	46,457
Series F
Equity:
Preferred stock, no par value; 50,000,000 shares authorized	$ 1	$ 1

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Real estate owned:
Real estate under development accumulated depreciation	$ 1,737	$ 0
Real estate held for disposition accumulated depreciation	$ 0	$ 553
Equity:
Preferred stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	350,000,000	350,000,000
Common stock, shares issued	267,599,391	267,259,469
Common stock, shares outstanding	267,599,391	267,259,469
8.00% Series E Cumulative Convertible Preferred Stock
Equity:
Preferred stock, dividend rate percentage	8.00%	8.00%
Preferred stock, shares issued	2,780,994	2,796,903
Preferred stock, shares outstanding	2,780,994	2,796,903
Series F
Equity:
Preferred stock, shares issued	16,025,255	16,196,889
Preferred stock, shares outstanding	16,025,255	16,196,889

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
REVENUES
Rental income	$ 248,264	$ 240,255	$ 734,193	$ 708,380
Joint venture management and other fees	2,827	2,997	8,718	8,473
Total revenues	251,091	243,252	742,911	716,853
OPERATING EXPENSES:
Property operating and maintenance	42,362	41,852	122,574	119,872
Real estate taxes and insurance	31,181	28,047	90,792	86,703
Property management	6,827	6,607	20,190	19,480
Other operating expenses	1,950	1,636	6,010	5,280
Real estate depreciation and amortization	107,171	105,802	320,653	317,078
General and administrative	12,467	11,826	36,976	36,505
Casualty-related charges/(recoveries), net	2,056	205	3,749	1,834
Other depreciation and amortization	1,585	1,526	4,760	4,565
Total operating expenses	205,599	197,501	605,704	591,317
Operating income	45,492	45,751	137,207	125,536
Income/(loss) from unconsolidated entities	1,819	15,285	11,591	16,289
Interest expense	(30,095)	(31,954)	(94,500)	(93,736)
Interest income and other income/(expense), net	481	478	1,423	1,449
Income/(loss) before income taxes and gain/(loss) on sale of real estate owned	17,697	29,560	55,721	49,538
Tax (provision)/benefit, net	(127)	(94)	(825)	711
Income/(loss) from continuing operations	17,570	29,466	54,896	50,249
Gain/(loss) on sale of real estate owned, net of tax			2,132	10,385
Net income/(loss)	17,570	29,466	57,028	60,634
Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership	(1,415)	(2,459)	(4,607)	(4,974)
Net (income)/loss attributable to noncontrolling interests	35	(51)	(107)	(365)
Net income/(loss) attributable to UDR, Inc.	16,190	26,956	52,314	55,295
Distributions to preferred stockholders — Series E (Convertible)	(926)	(929)	(2,784)	(2,787)
Net income/(loss) attributable to common stockholders	$ 15,264	$ 26,027	$ 49,530	$ 52,508
Common distributions declared per share	$ 0.310	$ 0.295	$ 0.930	$ 0.885
Income/(loss) per weighted average common share - basic	0.06	0.10	0.19	0.20
Income/(loss) per weighted average common share - diluted	$ 0.06	$ 0.10	$ 0.18	$ 0.20
Weighted average number of common shares outstanding — Basic	267,056	266,301	266,940	265,013
Weighted average number of common shares outstanding — diluted	269,062	268,305	268,851	266,925

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income / (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income/(loss)	$ 17,570	$ 29,466	$ 57,028	$ 60,634
Other comprehensive income/(loss), including portion attributable to noncontrolling interests:
Unrealized holding gain/(loss)	131	1,090	256	(1,684)
(Gain)/loss reclassified into earnings from other comprehensive income/(loss)	119	914	1,328	2,792
Other comprehensive income/(loss), including portion attributable to noncontrolling interests	250	2,004	1,584	1,108
Comprehensive income/(loss)	17,820	31,470	58,612	61,742
Comprehensive (income)/loss attributable to noncontrolling interests	(1,401)	(2,686)	(4,856)	(4,915)
Comprehensive income/(loss) attributable to UDR, Inc.	$ 16,419	$ 28,784	$ 53,756	$ 56,827

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (Unaudited) - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands	Preferred Stock	Common Stock	Paid-in Capital	Distributions in Excess of Net Income [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Noncontrolling Interest	Total
Beginning Balance at Dec. 31, 2016	$ 46,458	$ 2,673	$ 4,635,413	$ (1,585,825)	$ (5,609)	$ 3,860	$ 3,096,970
Consolidated Statements of Changes in Equity
Net income/(loss) attributable to UDR, Inc.				52,314			52,314
Net income/(loss) attributable to noncontrolling interests						98	98
Contribution of noncontrolling interest in consolidated real estate						125	125
Long Term Incentive Plan Unit grants/(vesting), net						3,795	3,795
Other comprehensive income/(loss)					1,442		1,442
Issuance/(forfeitures) of common and restricted shares, net		1	140				141
Conversion of Series E Cumulative Convertible shares	(257)		257
Adjustment for conversion of noncontrolling interest of unitholders in the Operating Partnership and DownREIT Partnership		2	7,435				7,437
Common stock distributions declared ($0.930 per share)				(248,899)			(248,899)
Preferred stock distributions declared-Series E ($0.9966 per share)				(2,784)			(2,784)
Adjustment to reflect redemption value of redeemable noncontrolling interests				(57,738)			(57,738)
Ending Balance at Sep. 30, 2017	$ 46,201	$ 2,676	4,643,803	(1,843,490)	$ (4,167)	$ 7,878	$ 2,852,901
Consolidated Statements of Changes in Equity
Cumulative effect upon adoption of ASU 2016-09 | ASU 2016-09			$ 558	$ (558)

Consolidated Statements of Cha7

Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical)	9 Months Ended
	Sep. 30, 2017$ / shares
Common distributions declared per share	$ 0.930
8.00% Series E Cumulative Convertible Preferred Stock
Preferred stock distributions declared	$ 0.9966

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating Activities
Net income/(loss)	$ 57,028	$ 60,634
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Depreciation and amortization	325,413	321,643
(Gain)/loss on sale of real estate owned, net of tax	(2,132)	(10,385)
(Income)/loss from unconsolidated entities	(11,591)	(16,289)
Return on investment in unconsolidated joint ventures	3,609	19,765
Amortization of share-based compensation	10,072	10,536
Other	13,069	6,490
Changes in operating assets and liabilities:
(Increase)/decrease in operating assets	(8,189)	(10,646)
Increase/(decrease) in operating liabilities	1,590	1,374
Net cash provided by/(used in) operating activities	388,869	383,122
Investing Activities
Acquisition of real estate assets	(65,381)	(23,003)
Proceeds from sales of real estate investments, net	3,250	21,901
Development of real estate assets	(190,456)	(136,555)
Capital expenditures and other major improvements — real estate assets, net of escrow reimbursement	(91,645)	(59,729)
Capital expenditures — non-real estate assets	(3,230)	(4,447)
Investment in unconsolidated joint ventures	(102,170)	(29,832)
Distributions received from unconsolidated joint ventures	65,053	32,472
Transfers to escrow for Internal Revenue Code Section 1031 exchanges		(69,409)
Repayment/(issuance) of notes receivable	1,196	(3,000)
Net cash provided by/(used in) investing activities	(383,383)	(271,602)
Financing Activities
Payments on secured debt	(325,212)	(352,814)
Proceeds from the issuance of secured debt		25,000
Payments on unsecured debt		(95,053)
Proceeds from the issuance of unsecured debt	584,292	300,000
Net proceeds/(repayment) of revolving bank debt	19,367	96,925
Proceeds from the issuance of common shares through public offering, net		173,238
Distributions paid to redeemable noncontrolling interests	(23,269)	(22,179)
Distributions paid to preferred stockholders	(2,776)	(2,783)
Distributions paid to common stockholders	(244,788)	(230,094)
Other	(13,424)	(7,201)
Net cash provided by/(used in) financing activities	(5,810)	(114,961)
Net increase/(decrease) in cash and cash equivalents	(324)	(3,441)
Cash and cash equivalents, beginning of period	2,112	6,742
Cash and cash equivalents, end of period	1,788	3,301
Supplemental Information:
Interest paid during the period, net of amounts capitalized	95,008	95,808
Cash paid/(refunds received) for income taxes	1,803	859
Non-cash transactions:
Transfer of investment in and advances to unconsolidated joint ventures to real estate owned	32,260	14,849
Vesting of LTIP Units	2,317
Development costs and capital expenditures incurred but not yet paid	48,995	44,564
Conversion of Operating Partnership and DownREIT Partnership noncontrolling interests to common stock (202,218 shares in 2017 and 163,330 shares in 2016)	7,437	5,974
Dividends declared but not yet paid	$ 91,454	$ 86,959

Consolidated Statements of Cas9

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Non-cash transactions:
Conversion of OP Units into common shares	202,218	163,330

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
BASIS OF PRESENTATION
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION Basis of Presentation UDR, Inc., collectively with our consolidated subsidiaries (“UDR,” the “Company,” “we,” “our,” or “us”), is a self-administered real estate investment trust, or REIT, that owns, operates, acquires, renovates, develops, redevelops, and manages apartment communities. The accompanying consolidated financial statements include the accounts of UDR and its subsidiaries, including United Dominion Realty, L.P. (the “Operating Partnership” or the “OP”) and UDR Lighthouse DownREIT L.P. (the “DownREIT Partnership”). As of September 30, 2017, there were 183,350,924 units in the Operating Partnership (“OP Units”) outstanding, of which 174,237,688 OP Units, or 95.0%, were owned by UDR and 9,113,236 OP Units, or 5.0%, were owned by outside limited partners. As of September 30, 2017, there were 32,367,380 units in the DownREIT Partnership (“DownREIT Units”) outstanding, of which 16,679,628, or 51.5%, were owned by UDR (including 13,470,651 DownREIT Units, or 41.6%, that were held by the Operating Partnership) and 15,687,752, or 48.5%, were owned by outside limited partners. The consolidated financial statements of UDR include the noncontrolling interests of the unitholders in the Operating Partnership and DownREIT Partnership. The accompanying interim unaudited consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted according to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments and eliminations necessary for the fair presentation of our financial position as of September 30, 2017, and results of operations for the three and nine months ended September 30, 2017 and 2016 have been included. Such adjustments are normal and recurring in nature. The interim results presented are not necessarily indicative of results that can be expected for a full year. The accompanying interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2016 appearing in UDR’s Annual Report on Form 10‑K, filed with the Securities and Exchange Commission on February 21, 2017. The accompanying interim unaudited consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”). GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the dates of the interim unaudited consolidated financial statements and the amounts of revenues and expenses during the reporting periods. Actual amounts realized or paid could differ from those estimates. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company evaluated subsequent events through the date its financial statements were issued. No significant recognized or non-recognized subsequent events were noted other than those in Note 3, Real Estate Owned, Note 5, Joint Ventures and Partnerships , and Note 12, Commitments and Contingencies .

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES	2. SIGNIFICANT ACCOUNTING POLICIES Recent Accounting Pronouncements In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging, Targeted Improvements to Accounting for Hedging Activities . The ASU aims to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The updated standard will be effective for the Company on January 1, 2019 and must be applied using a modified retrospective approach; however, early adoption of the ASU is permitted. The Company does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017‑01, Business Combinations (Topic 805), Clarifying the Definition of a Business. The ASU changes the definition of a business to assist entities with evaluating whether a set of transferred assets is a business. As a result, the accounting for acquisitions of real estate could be impacted. The updated standard will be effective for the Company on January 1, 2018; however, early adoption of the ASU is permitted. The ASU will be applied prospectively to any transactions occurring within the period of adoption. The Company expects that the updated standard will result in fewer acquisitions of real estate meeting the definition of a business and fewer acquisition-related costs being expensed in the period incurred. In November 2016, the FASB issued ASU 2016‑18, Statement of Cash Flows (Topic 230), Restricted Cash . The ASU addresses the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. The updated standard will be effective for the Company on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Company does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU. In August 2016, the FASB issued ASU 2016‑15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments . The ASU addresses specific cash flow items with the objective of reducing existing diversity in practice, including the treatment of distributions received from equity method investees. The updated standard will be effective for the Company on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Company elected to early adopt ASU 2016‑15 in 2016 and elected to classify distributions received from equity method investees using the cumulative earnings approach. No prior period amounts required adjustment as a result of the adoption. In June 2016, the FASB issued ASU 2016‑13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The standard requires entities to estimate a lifetime expected credit loss for most financial assets, including trade and other receivables, held-to-maturity debt securities, loans and other financial instruments, and to present the net amount of the financial instrument expected to be collected. The updated standard will be effective for the Company on January 1, 2020; however, early adoption of the ASU is permitted on January 1, 2019. The Company is currently evaluating the effect that the updated standard will have on the consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016‑09, Compensation-Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting . The ASU aims to simplify the accounting for share-based payments by amending the accounting for forfeitures, statutory tax withholding requirements, classification in the statements of cash flow and income taxes. The updated standard was effective for the Company on January 1, 2017, at which time the Company prospectively began accounting for forfeitures as incurred and began applying the updated rules for statutory withholdings. As a result of adopting the ASU, the Company recorded a one-time adjustment for existing estimated forfeitures of $0.6 million as of January 1, 2017 to Distributions in Excess of Net Income on January 1, 2017. In February 2016, the FASB issued ASU No. 2016‑02, Leases . The standard amends the existing lease accounting guidance and requires lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that have a duration of one year or less) on their balance sheets. Lessees will continue to recognize lease expense in a manner similar to current accounting. For lessors, accounting for leases under the new guidance is substantially the same as in prior periods, but eliminates current real estate-specific provisions and changes the treatment of initial direct costs. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparable period presented, with an option to elect certain transition relief. Full retrospective application is prohibited. The standard will be effective for the Company on January 1, 2019; however, early adoption of the ASU is permitted. While the Company is currently evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures, we expect to adopt the guidance on its effective date, at which time we will recognize right-of-use assets and related lease liabilities on our consolidated balance sheets related to ground leases on any communities where we are the lessee. In May 2014, the FASB issued ASU No. 2014‑09, Revenue from Contracts with Customers . The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective, including industry-specific revenue guidance. The standard specifically excludes lease contracts. The ASU allows for the use of either the full or modified retrospective transition method and will be effective for the Company on January 1, 2018, at which time the Company expects to adopt the updated standard using the modified retrospective approach. However, as the majority of the Company’s revenue is from rental income related to leases, the Company does not expect the ASU to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU. Principles of Consolidation The Company accounts for subsidiary partnerships, joint ventures and other similar entities in which it holds an ownership interest in accordance with the consolidation guidance. The Company first evaluates whether each entity is a variable interest entity (“VIE”). Under the VIE model, the Company consolidates an entity when it has control to direct the activities of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the voting model, the Company consolidates an entity when it controls the entity through ownership of a majority voting interest. Discontinued Operations In accordance with GAAP, a discontinued operation represents (1) a component of an entity or group of components that has been disposed of or is classified as held for sale in a single transaction and represents a strategic shift that has or will have a major effect on an entity’s financial results, or (2) an acquired business that is classified as held for sale on the date of acquisition. A strategic shift could include a disposal of (1) a separate major line of business, (2) a separate major geographic area of operations, (3) a major equity method investment, or (4) other major parts of an entity. We record sales of real estate that do not meet the definition of a discontinued operation in Gain/(loss) on sale of real estate owned, net of tax on the Consolidated Statements of Operations. Revenue and Real Estate Sales Gain Recognition Rental income related to leases is recognized on an accrual basis when due from residents and tenants in accordance with GAAP. Rental payments are generally due on a monthly basis and recognized when earned. The Company recognizes interest income, management and other fees and incentives when earned, and the amounts are fixed and determinable. For sale transactions meeting the requirements for full accrual profit recognition, we remove the related assets and liabilities from our Consolidated Balance Sheets and record the gain or loss in the period the transaction closes. For sale transactions that do not meet the full accrual sale criteria due to our continuing involvement, we evaluate the nature of the continuing involvement and account for the transaction under an alternate method of accounting. Unless certain limited criteria are met, non-monetary transactions, including property exchanges, are accounted for at fair value. Sales to entities in which we retain or otherwise own an interest are accounted for as partial sales. If all other requirements for recognizing profit under the full accrual method have been satisfied and no other forms of continuing involvement are present, we recognize profit proportionate to the outside interest of the buyer and defer the gain on the interest we retain. The Company recognizes any deferred gain when the property is sold to a third party. In transactions accounted for by us as partial sales, we determine if the buyer of the majority equity interest in the venture was provided a preference as to cash flows in either an operating or a capital waterfall. If a cash flow preference has been provided, we recognize profit only to the extent that proceeds from the sale of the majority equity interest exceed costs related to the entire property. Notes Receivable The following table summarizes our notes receivable, net as of September 30, 2017 and December 31, 2016 ( dollars in thousands): Interest rate at Balance Outstanding September 30, September 30, December 31, 2017 2017 2016 Note due February 2020 (a) 10.00 % $ 12,994 $ 12,994 Note due July 2017 (b) — % — 2,500 Note due October 2020 (c) 8.00 % 2,000 1,296 Note due August 2022 (d) 10.00 % 3,600 3,000 Total notes receivable, net $ 18,594 $ 19,790 (a) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $13.0 million. Interest payments are due monthly. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $5.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) the eighth anniversary of the date of the note (February 2020). (b) At December 31, 2016, the Company had a secured note receivable with an unaffiliated third party with an aggregate commitment of $2.5 million. The outstanding balance was paid in full during the nine months ended September 30, 2017. (c) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $2.0 million, of which $2.0 million had been funded. During the nine months ended September 30, 2017, the Company loaned $0.7 million. Interest payments are due when the loan matures. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $10.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) the fifth anniversary of the date of the note (October 2020). (d) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $10.0 million, of which, $3. 6 million has been funded. During the nine months ended September 30, 2017, the Company loaned $0.6 million. Interest payments are due monthly. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $25.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) August 2022. In September 2017, the terms of this secured note receivable were amended to reduce the aggregate commitment from $15.0 million to $10.0 million and to extend the maturity date of the note from the fifth anniversary of the note (April 2021) to August 2022. The Company recognized $0.4 million and $0.5 million of interest income from notes receivable during the three months ended September 30, 2017 and 2016, respectively, and $1.4 million and $1.3 million during the nine months ended September 30, 2017 and 2016, respectively, none of which was related party interest income. Interest income is included in Interest income and other income/(expense), net on the Consolidated Statements of Operations. Comprehensive Income/(Loss) Comprehensive income/(loss), which is defined as the change in equity during each period from transactions and other events and circumstances from nonowner sources, including all changes in equity during a period except for those resulting from investments by or distributions to stockholders, is displayed in the accompanying Consolidated Statements of Comprehensive Income/(Loss). For the three and nine months ended September 30, 2017 and 2016, the Company’s other comprehensive income/(loss) consisted of the gain/(loss) (effective portion) on derivative instruments that are designated as and qualify as cash flow hedges, (gain)/loss on derivative instruments reclassified from other comprehensive income/(loss) into earnings, and the allocation of other comprehensive income/(loss) to noncontrolling interests. The (gain)/loss on derivative instruments reclassified from other comprehensive income/(loss) is included in Interest expense on the Consolidated Statements of Operations. See Note 10, Derivatives and Hedging Activity, for further discussion. The allocation of other comprehensive income/(loss) to redeemable noncontrolling interests during the three months ended September 30, 2017 and 2016 was less than $0.1 million and $0.2 million, respectively, and during the nine months ended September 30, 2017 and 2016 was $0.1 million and $(0.4) million, respectively. Income Taxes Due to the structure of the Company as a REIT and the nature of the operations for the operating properties, no provision for federal income taxes has been provided for at UDR. Historically, the Company has generally incurred only state and local excise and franchise taxes. UDR has elected for certain consolidated subsidiaries to be treated as taxable REIT subsidiaries (“TRS”). Income taxes for our TRS are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities from a change in tax rate is recognized in earnings in the period of the enactment date. The Company’s deferred tax assets are generally the result of differing depreciable lives on capitalized assets and timing of expense recognition for certain accrued liabilities. As of September 30, 2017 and December 31, 2016, UDR’s net deferred tax asset was $0.2 million and $0.6 million, respectively. GAAP defines a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. GAAP also provides guidance on derecognition, classification, interest and penalties, accounting for interim periods, disclosure and transition. The Company recognizes its tax positions and evaluates them using a two-step process. First, UDR determines whether a tax position is more likely than not (greater than 50 percent probability) to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Second, the Company will determine the amount of benefit to recognize and record the amount that is more likely than not to be realized upon ultimate settlement. UDR had no material unrecognized tax benefit, accrued interest or penalties at September 30, 2017. UDR and its subsidiaries are subject to federal income tax as well as income tax of various state and local jurisdictions. The tax years 2013 through 2016 remain open to examination by tax jurisdictions to which we are subject. When applicable, UDR recognizes interest and/or penalties related to uncertain tax positions in Tax (provision)/benefit, net on the Consolidated Statements of Operations.

Real Estate Owned

Real Estate Owned	9 Months Ended
	Sep. 30, 2017
REAL ESTATE OWNED
REAL ESTATE OWNED	3. REAL ESTATE OWNED Real estate assets owned by the Company consist of income producing operating properties, properties under development, land held for future development, and sold or held for disposition properties. As of September 30, 2017, the Company owned and consolidated 128 communities in 10 states plus the District of Columbia totaling 39,906 apartment homes. The following table summarizes the carrying amounts for our real estate owned (at cost) as of September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Land $ 1,788,391 $ 1,801,576 Depreciable property — held and used: Land improvements 186,736 178,701 Building, improvements, and furniture, fixtures and equipment 7,481,166 7,291,570 Under development: Land and land improvements 111,028 111,028 Building, improvements, and furniture, fixtures and equipment 423,289 231,254 Real estate held for disposition: Land and land improvements — 1,104 Building, improvements, and furniture, fixtures and equipment — 520 Real estate owned 9,990,610 9,615,753 Accumulated depreciation (3,237,588) (2,923,625) Real estate owned, net $ 6,753,022 $ 6,692,128 Acquisitions During the nine months ended September 30, 2017, the Company exercised its fixed-price option to purchase its joint venture partner’s ownership interest in a 244 home operating community in Seattle, Washington, thereby increasing its ownership interest from 49% to 100%, for a cash purchase price of approximately $66.0 million. As a result, the Company consolidated the operating community. The Company had previously accounted for its 49% ownership interest as a preferred equity investment in an unconsolidated joint venture (see Note 5, Joint Ventures and Partnerships ). As a result of the consolidation, the Company increased its real estate owned by approximately $97.0 million, recorded approximately $1.7 million of in-place lease intangibles and recorded a gain on consolidation of $12.2 million, which is included in Income/(loss) from unconsolidated entities on the Consolidated Statements of Operations. On October 5, 2017, the Company acquired an operating community located in Denver, Colorado with a total of 218 apartment homes and 17,000 square feet of retail space for a purchase price of approximately $141.5 million. Prior to acquiring the community, the Company had provided $93.5 million as a participating loan investment to the third-party developer and was entitled to receive, in addition to repayment of principal and interest, contingent interest equal to 50% of the sum of the amount the property was sold for less construction and closing costs, which equaled approximately $14.9 million. As of September 30, 2017, UDR accounted for its participating loan investment as an unconsolidated joint venture (see Note 5, Joint Ventures and Partnerships ). As of October 5, 2017, the Company consolidated the operating community and accounted for the consolidation as a business combination, resulting in a projected gain on consolidation of approximately $14.8 million. Dispositions During the nine months ended September 30, 2017, the Company sold a parcel of land in Richmond, Virginia for gross proceeds of $3.5 million, resulting in net proceeds of $3.3 million and a gain of $2.1 million. Other Activity Predevelopment, development, and redevelopment projects and related costs are capitalized and reported on the Consolidated Balance Sheets as Total real estate owned, net of accumulated depreciation . The Company capitalizes costs directly related to the predevelopment, development, and redevelopment of a capital project, which include, but are not limited to, interest, real estate taxes, insurance, and allocated development and redevelopment overhead related to support costs for personnel working on the capital projects. We use our professional judgment in determining whether such costs meet the criteria for capitalization or must be expensed as incurred. These costs are capitalized only during the period in which activities necessary to ready an asset for its intended use are in progress and such costs are incremental and identifiable to a specific activity to get the asset ready for its intended use. These costs, excluding the direct costs of development and redevelopment and capitalized interest, were $2.2 million and $1.0 million for the three months ended September 30, 2017 and 2016, respectively, and $6.6 million and $5.7 million for the nine months ended September 30, 2017 and 2016, respectively. Total interest capitalized was $4.6 million and $4.1 million for the three months ended September 30, 2017 and 2016, respectively, and $14.0 million and $12.1 million for the nine months ended September 30, 2017 and 2016, respectively. As each home in a capital project is completed and becomes available for lease-up, the Company ceases capitalization on the related portion and depreciation commences over the estimated useful life. In connection with the acquisition of certain properties, the Company agreed to pay certain of the tax liabilities of certain contributors if the Company sells one or more of the properties contributed in a taxable transaction prior to the expiration of specified periods of time following the acquisition. The Company may, however, sell, without being required to pay any tax liabilities, any of such properties in a non-taxable transaction, including, but not limited to, in an exchange under Section 1031 of the Internal Revenue Code. Further, the Company has agreed to maintain certain debt that may be guaranteed by certain contributors for specified periods of time following the acquisition. The Company, however, has the ability to refinance or repay guaranteed debt or to substitute new debt if the debt and the guaranty continue to satisfy certain conditions.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2017
JOINT VENTURES AND PARTNERSHIPS
VARIABLE INTEREST ENTITIES	4. VARIABLE INTEREST ENTITIES The Company has determined that the Operating Partnership and DownREIT Partnership are VIEs as the limited partners lack substantive kick-out rights and substantive participating rights. The Company has concluded that it is the primary beneficiary of, and therefore consolidates the Operating Partnership and DownREIT Partnership based on its role as the sole general partner of the Operating Partnership and DownREIT Partnership. The Company’s role as community manager and its equity interests give us the power to direct the activities that most significantly impact the economic performance and the obligation to absorb potentially significant losses or the right to receive potentially significant benefits of the Operating Partnership and DownREIT Partnership. See the consolidated financial statements of the Operating Partnership presented within this Report and Note 4, Unconsolidated Entities , to the Operating Partnership’s consolidated financial statements for the results of operations of the DownREIT Partnership.

Joint Ventures and Partnerships

Joint Ventures and Partnerships	9 Months Ended
	Sep. 30, 2017
JOINT VENTURES AND PARTNERSHIPS
JOINT VENTURES AND PARTNERSHIPS	5. JOINT VENTURES AND PARTNERSHIPS UDR has entered into joint ventures and partnerships with unrelated third parties to acquire real estate assets that are either consolidated and included in Real estate owned on the Consolidated Balance Sheets or are accounted for under the equity method of accounting, and are included in Investment in and advances to unconsolidated joint ventures, net , on the Consolidated Balance Sheets. The Company consolidates the entities that we control as well as any variable interest entity where we are the primary beneficiary. Under the VIE model, the Company consolidates an entity when it has control to direct the activities of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the voting model, the Company consolidates an entity when it controls the entity through ownership of a majority voting interest. UDR’s joint ventures and partnerships are funded with a combination of debt and equity. Our losses are limited to our investment and except as noted below, the Company does not guarantee any debt, capital payout or other obligations associated with our joint ventures and partnerships. The Company recognizes earnings or losses from our investments in unconsolidated joint ventures and partnerships consisting of our proportionate share of the net earnings or losses of the joint ventures and partnerships. In addition, we may earn fees for providing management services to the unconsolidated joint ventures and partnerships. The following table summarizes the Company’s investment in and advances to unconsolidated joint ventures and partnerships, net, which are accounted for under the equity method of accounting as of September 30, 2017 and December 31, 2016 (dollars in thousands) : Number of Number of Apartment Properties Homes Investment at UDR’s Ownership Interest Location of September 30, September 30, September 30, December 31, September 30, December 31, Joint Venture Properties 2017 2017 2017 2016 2017 2016 Operating and development: UDR/MetLife I Los Angeles, CA 1 development community (a) 150 $ 34,404 $ 25,209 50.0 % 50.0 % UDR/MetLife II (b) Various 18 operating communities 4,059 307,410 311,282 50.0 % 50.0 % Other UDR/MetLife Development Joint Ventures Various 2 operating communities; 1,437 140,160 160,979 50.6 % 50.6 % 3 development communities (a) UDR/MetLife Vitruvian Park ® Addison, TX 3 operating communities; 1,513 75,608 72,414 50.0 % 50.0 % 1 development community (a); 5 land parcels UDR/KFH Washington, D.C. 3 operating communities 660 9,930 12,835 30.0 % 30.0 % Investment in and advances to unconsolidated joint ventures, net, before participating loan investment, preferred equity investments and other investments $ 567,512 $ 582,719 Income from investments Investment at Three Months Ended Nine Months Ended Years To UDR September 30, December 31, September 30, September 30, Developer Capital Program (c) Location Rate Maturity Commitment 2017 2016 2017 2016 2017 2016 Participating loan investment: Steele Creek (d) Denver, CO 6.5 % 0.3 $ 93,458 $ 93,983 $ 94,003 $ 1,567 $ 1,567 $ 4,650 $ 4,646 Preferred equity investments: West Coast Development Joint Ventures (e) Various 6.5 % (c) N/A — 138,548 150,303 3,355 1,476 16,894 4,674 1532 Harrison (f) San Francisco, CA 11.0 % 5.0 24,645 9,115 — 226 — 228 — 1200 Broadway (g) Nashville, TN 8.0 % 5.0 55,558 12,894 — 65 — 65 — Other investments: The Portals (h) Washington, DC 11.0 % 4.0 38,559 17,048 — 330 — 346 — Other investment ventures N/A N/A N/A $ 15,000 764 — $ — $ — $ — $ — Total Developer Capital Program 272,352 244,306 Total investment in and advances to unconsolidated joint ventures, net $ 839,864 $ 827,025 (a) The number of apartment homes for the communities under development presented in the table above is based on the projected number of total homes upon completion of development. As of September 30, 2017, 726 apartment homes had been completed in Other UDR/MetLife Development Joint Ventures, and no apartment homes had been completed in UDR/MetLife I or in UDR/MetLife Vitruvian Park ® . (b) In September 2015, the 717 Olympic community, which is owned by the UDR/MetLife II joint venture, experienced extensive water damage due to a ruptured water pipe. For the nine months ended September 30, 2017 and 2016, the Company recorded casualty-related charges/(recoveries) of $(0.9) million and $( 3.5) million, respectively, representing its proportionate share of the total charges/(recoveries) recognized. (c) The Developer Capital Program is the program through which the Company makes investments, including preferred equity investments, mezzanine loans or other structured investments that may receive a fixed yield on the investment and may include provisions pursuant to which the Company participates in the increase in value of the property upon monetization of the applicable property and/or holds fixed price purchase options. (d) On October 5, 2017, the Company acquired the Steele Creek community for a purchase price of approximately $141.5 million (see Note 3, Real Estate Owned ). (e) In May 2015, the Company entered into a joint venture agreement with an unaffiliated joint venture partner and agreed to pay $136.3 million for a 48% ownership interest in a portfolio of five communities that were under construction. The communities are located in three of the Company’s core, coastal markets: Seattle, Washington, Los Angeles and Orange County, California. UDR earns a 6.5% preferred return on its investment through each individual community’s date of stabilization, defined as when a community reaches 80% occupancy for 90 consecutive days, while the joint venture partner is allocated all operating income and expense during the pre-stabilization period. Upon stabilization, income and expense are shared based on each partner’s ownership percentage and the Company no longer receives a 6.5% preferred return on its investment in the stabilized community. The Company serves as property manager and earns a management fee during the lease-up phase and subsequent operation of each of the communities. The unaffiliated joint venture partner is the general partner of the joint venture and the developer of the communities. At inception of the agreement, the Company had a fixed-price option to acquire the remaining interest in each community beginning one year after completion. If the options are exercised for all five communities, the Company’s total purchase price will be $597.4 million. In the event the Company does not exercise its options to purchase at least two communities, the unaffiliated joint venture partner will be entitled to earn a contingent disposition fee equal to a 6.5% return on its implied equity in the communities not acquired. The unaffiliated joint venture partner is providing certain guaranties and there are construction loans on all five communities. In January 2017, the Company exercised its fixed-price option to purchase the joint venture partner’s ownership interest in one of the five communities, a 244 home operating community in Seattle, Washington, thereby increasing its ownership interest from 49% to 100%, for a cash purchase price of approximately $66.0 million. As a result, the Company consolidated the operating community and it is no longer accounted for as a preferred equity investment in an unconsolidated joint venture (see Note 3, Real Estate Owned ). As a result of the consolidation, the Company recorded a gain on consolidation of $12.2 million, which is included in Income/(loss) from unconsolidated entities on the Consolidated Statements of Operations. In August 2017, the joint venture sold one of the four remaining communities, a 211 home operating community in Seattle, Washington for a sales price of approximately $101.3 million. As a result, the Company recorded a gain on the sale of approximately $2.4 million, which is included in Income/(loss) from unconsolidated entities on the Consolidated Statements of Operations. As of September 30, 2017, construction was completed on t wo of the three remaining communities. One of the completed communities has achieved stabilization; the other completed community has not achieved stabilization and the Company continues to receive a 6.5% preferred return on its investment in that community; and the third community is still under construction and the Company continues to receive a 6.5% preferred return on its investment in that community. In October 2017, the joint venture entered into a contract to sell the community that had achieved stabilization to an unrelated party for $148.0 million. In March 2017 and May 2017, the Company entered into two additional joint venture agreements with the unaffiliated joint venture partner and agreed to pay $15.5 million for a 49% ownership interest in a 155 home community that is currently under construction in Seattle, Washington and $16.1 million for a 49% ownership interest in a 276 home community that is currently under construction in Hillsboro, Oregon (together with the May 2015 joint venture described above, the “West Coast Development Joint Ventures”). Consistent with the terms of the May 2015 joint venture agreement, UDR earns a 6.5% preferred return on its investments through the communities’ date of stabilization, as defined above, while our joint venture partner is allocated all operating income and expense during the pre-stabilization period. Upon stabilization of the communities, income and expense will be shared based on each partner’s ownership percentage and the Company will no longer receive a 6.5% preferred return on its investment. The Company will serve as property manager and will earn a management fee during the lease-up phase and subsequent operation of the stabilized communities. The unaffiliated joint venture partner is the general partner and the developer of the communities. The Company has concluded it does not control the joint ventures and accounts for them under the equity method of accounting. The Company has a fixed-price option to acquire the remaining interest in the communities beginning one year after completion for a total price of $61.3 million and $72.3 million, respectively. The unaffiliated joint venture partner is providing certain guaranties and there are construction loans on the communities. The Company’s recorded equity investment in the West Coast Development Joint Ventures at September 30, 2017 and December 31, 2016 of $ 138.5 million and $1 50.3 million, respectively, is inclusive of outside basis costs and our accrued but unpaid preferred return. (f) In June 2017, the Company entered into a joint venture agreement with an unaffiliated joint venture partner to develop and operate a 136 apartment home community in San Francisco, California. The Company’s preferred equity investment of up to $24.6 million earns a preferred return of 11.0% per annum. The unaffiliated joint venture partner is the managing member of the joint venture and the developer of the community. As of September 30, 2017, the Company had contributed approximately $ 9.1 million to the joint venture. The Company has concluded it does not control the joint venture and accounts for it under the equity method of accounting. (g) In September 2017, the Company entered into a joint venture agreement with an unaffiliated joint venture partner to develop and operate a 313 apartment home community in Nashville, Tennessee. The Company’s preferred equity investment of up to $55.6 million earns a preferred return of 8.0% per annum and receives a variable percentage of the value created from the project upon a capital or liquidating event. The unaffiliated joint venture partner is the managing member of the joint venture and the developer of the community. As of September 30, 2017 , the Company had contributed approximately $12.9 million to the joint venture. The Company has concluded it does not control the joint venture and accounts for it under the equity method of accounting. (h) In May 2017, the Company entered into a joint venture agreement with an unaffiliated joint venture partner. The joint venture has made a mezzanine loan to a third-party developer of a 373 apartment home community in Washington, D.C. The unaffiliated joint venture partner is the managing member of the joint venture. The mezzanine loan is for up to $71.0 million at an interest rate of 13.5% per annum and carries a term of four years with one, 12-month extension option. The Company’s investment commitment to the joint venture is approximately $38.6 million and earns a weighted average return rate of approximately 11.0% per annum. As of September 30, 2017, the Company had contributed approximately $17.0 million to the joint venture. The Company has concluded it does not control the joint venture and accounts for it under the equity method of accounting. As of September 30, 2017 and December 31, 2016, the Company had deferred fees of $10.7 million and $9.5 million, respectively, which will be recognized through earnings over the weighted average life of the related properties, upon the disposition of the properties to a third party, or upon completion of certain development obligations. The Company recognized management fees of $2.8 million and $3.0 million for the three months ended September 30, 2017 and 2016, respectively, and $8.7 million and $8.4 million for the nine months ended September 30, 2017 and 2016, respectively, for our management of the communities held by the joint ventures and partnerships. The management fees are included in Joint venture management and other fees on the Consolidated Statements of Operations. The Company may, in the future, make additional capital contributions to certain of our joint ventures and partnerships should additional capital contributions be necessary to fund acquisitions or operations. We evaluate our investments in unconsolidated joint ventures and partnerships when events or changes in circumstances indicate that there may be an other-than-temporary decline in value. We consider various factors to determine if a decrease in the value of the investment is other-than-temporary. The Company did not recognize any other-than-temporary decreases in the value of its investments in unconsolidated joint ventures or partnerships during the three and nine months ended September 30, 2017 and 2016. Combined summary balance sheets relating to the unconsolidated joint ventures and partnerships (not just our proportionate share) are presented below as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): September 30, December 31, 2017 2016 Total real estate, net $ 2,925,111 $ 2,901,067 Cash and cash equivalents 37,794 32,503 Other assets 17,960 19,047 Total assets $ 2,980,865 $ 2,952,617 Amount due to/(from) UDR $ 2,059 $ 521 Third party debt, net 1,857,796 1,794,379 Accounts payable and accrued liabilities 68,042 66,931 Total liabilities $ 1,927,897 $ 1,861,831 Total equity $ 1,052,968 $ 1,091,326 Combined summary financial information relating to the unconsolidated joint ventures ’ and partnerships ’ operations (not just our proportionate share) is presented below for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ) : Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Total revenues $ 63,865 $ 60,366 $ 183,564 $ 173,556 Property operating expenses (24,686) (16,309) (69,356) (62,703) Real estate depreciation and amortization (25,595) (21,260) (73,712) (61,973) Operating income/(loss) 13,584 22,797 40,496 48,880 Interest expense (19,055) (17,176) (55,695) (50,360) Other income/(expense) — (10) — (14) Gain/(loss) on sale of real estate — 10,262 — 10,262 Net income/(loss) $ (5,471) $ 15,873 $ (15,199) $ 8,768

Secured and Unsecured Debt, Net

Secured and Unsecured Debt, Net	9 Months Ended
	Sep. 30, 2017
SECURED AND UNSECURED DEBT, NET
SECURED AND UNSECURED DEBT, NET	6. SECURED AND UNSECURED DEBT, NET The following is a summary of our secured and unsecured debt at September 30, 2017 and December 31, 2016 ( dollars in thousands ): Principal Outstanding As of September 30, 2017 Weighted Weighted Average Average Number of September 30, December 31, Interest Years to Communities 2017 2016 Rate Maturity Encumbered Secured Debt: Fixed Rate Debt Mortgage notes payable (a) $ 397,482 $ 402,996 4.04 % 5.6 7 Fannie Mae credit facilities (b) 285,836 355,836 4.86 % 2.3 8 Deferred financing costs (1,802) (2,681) Total fixed rate secured debt, net 681,516 756,151 4.39 % 4.2 15 Variable Rate Debt Tax-exempt secured notes payable (c) 94,700 94,700 1.59 % 5.4 2 Fannie Mae credit facilities (b) 29,034 280,946 2.78 % 1.2 1 Deferred financing costs (273) (939) Total variable rate secured debt, net 123,461 374,707 1.87 % 4.4 3 Total Secured Debt, net 804,977 1,130,858 4.00 % 4.2 18 Unsecured Debt: Variable Rate Debt Borrowings outstanding under unsecured credit facility due January 2020 (d) (i) — — — % 2.3 Borrowings outstanding under unsecured commercial paper program due October 2017 (e) (i) 285,000 — 1.45 % 0.1 Borrowings outstanding under unsecured working capital credit facility due January 2019 (f) 40,717 21,350 2.13 % 1.3 Term Loan Facility due January 2021 (d) (i) 35,000 35,000 2.19 % 3.3 Fixed Rate Debt 4.25% Medium-Term Notes due June 2018 (net of discounts of $287 and $608, respectively) (i) 299,713 299,392 4.25 % 0.7 3.70% Medium-Term Notes due October 2020 (net of discounts of $24 and $30, respectively) (i) 299,976 299,970 3.70 % 3.0 1.98% Term Loan Facility due January 2021 (d) (i) 315,000 315,000 1.98 % 3.3 4.63% Medium-Term Notes due January 2022 (net of discounts of $1,536 and $1,805, respectively) (i) 398,464 398,195 4.63 % 4.3 3.75% Medium-Term Notes due July 2024 (net of discounts of $704 and $782, respectively) (i) 299,296 299,218 3.75 % 6.8 8.50% Debentures due September 2024 15,644 15,644 8.50 % 7.0 4.00% Medium-Term Notes due October 2025 (net of discounts of $551 and $602, respectively) (g) (i) 299,449 299,398 4.00 % 8.0 2.95% Medium-Term Notes due September 2026 (i) 300,000 300,000 2.95 % 8.9 3.50% Medium-Term Notes due July 2027 (net of discounts of $687 and $0, respectively) (h) (i) 299,313 — 3.50 % 9.8 Other 19 21 Deferred financing costs (13,557) (12,568) Total Unsecured Debt, net 2,874,034 2,270,620 3.45 % 4.9 Total Debt, net $ 3,679,011 $ 3,401,478 3.65 % 4.8 For purposes of classification of the above table, variable rate debt with a derivative financial instrument designated as a cash flow hedge is deemed as fixed rate debt due to the Company having effectively established a fixed interest rate for the underlying debt instrument. Our secured debt instruments generally feature either monthly interest and principal or monthly interest-only payments with balloon payments due at maturity. As of September 30, 2017, secured debt encumbered $1.7 billion or 16.8% of UDR’s total real estate owned based upon gross book value ($8.3 billion or 83.2% of UDR’s real estate owned based on gross book value is unencumbered). (a) At September 30, 2017, fixed rate mortgage notes payable are generally due in monthly installments of principal and interest and mature at various dates from May 2019 through November 2026 and carry interest rates ranging from 3.15% to 5.86%. The Company will from time to time acquire properties subject to fixed rate debt instruments. In those situations, the Company records the debt at its estimated fair value and amortizes any difference between the fair value and par value to interest expense over the life of the underlying debt instrument. During the three months ended September 30, 2017 and 2016, the Company had $0.7 million and $0.6 million, respectively, and during the nine months ended September 30, 2017 and 2016, the Company had $2.2 million and $2.1 million, respectively, of amortization of the fair market adjustment of debt assumed in the acquisition of properties,which was included in Interest expense on the Consolidated Statements of Operations. The unamortized fair market adjustment was a net premium of $9.0 million and $11.2 million at September 30, 2017 and December 31, 2016, respectively. (b) UDR had two secured credit facilities with Fannie Mae with an aggregate commitment of $314.9 million at September 30, 2017. The Fannie Mae credit facilities mature at various dates from December 201 8 through July 2020 and bear interest at floating and fixed rates. At September 30, 2017, $285.8 million of the outstanding balance was fixed and had a weighted average interest rate of 4.86% and the remaining balance of $29.0 million had a weighted average variable interest rate of 2.78%. During the nine months ended September 30, 2017, the Company prepaid $275.3 million of its secured credit facilities with borrowings under the Company’s unsecured commercial paper program and proceeds from the issuance of senior unsecured medium-term notes. The Company incurred prepayment costs of $0 and $5.8 million during the three and nine months ended September 30, 2017, respectively, which were included in Interest expense on the Consolidated Statements of Operations. Further information related to these credit facilities is as follows (dollars in thousands) : September 30, December 31, 2017 2016 Borrowings outstanding $ 314,870 $ 636,782 Weighted average borrowings during the period ended 450,581 737,802 Maximum daily borrowings during the period ended 636,782 813,544 Weighted average interest rate during the period ended 4.2 % 3.9 % Weighted average interest rate at the end of the period 4.7 % 3.8 % (c) The variable rate mortgage notes payable that secure tax-exempt housing bond issues mature in August 2019 and March 2032. Interest on these notes is payable in monthly installments. The variable rate mortgage notes have interest rates ranging from 1.59% to 1.60% as of September 30, 2017. (d) The Company has a $1.1 billion unsecured revolving credit facility (the “Revolving Credit Facility”) and a $350.0 million unsecured term loan facility (the “Term Loan Facility”). The credit agreement for these facilities (the “Credit Agreement”) allows the total commitments under the Revolving Credit Facility and the total borrowings under the Term Loan Facility to be increased to an aggregate maximum amount of up to $2.0 billion, subject to certain conditions, including obtaining commitments from any one or more lenders. The Revolving Credit Facility has a scheduled maturity date of January 31, 2020, with two six-month extension options, subject to certain conditions. The Term Loan Facility has a scheduled maturity date of January 29, 2021. Based on the Company’s current credit rating, the Revolving Credit Facility has an interest rate equal to LIBOR plus a margin of 90 basis points and a facility fee of 15 basis points, and the Term Loan Facility has an interest rate equal to LIBOR plus a margin of 95 basis points. Depending on the Company’s credit rating, the margin under the Revolving Credit Facility ranges from 85 to 155 basis points, the facility fee ranges from 12.5 to 30 basis points, and the margin under the Term Loan Facility ranges from 90 to 175 basis points. The Credit Agreement contains customary representations and warranties and financial and other affirmative and negative covenants. The Credit Agreement also includes customary events of default, in certain cases subject to customary periods to cure. The occurrence of an event of default, following the applicable cure period, would permit the lenders to, among other things, declare the unpaid principal, accrued and unpaid interest and all other amounts payable under the Credit Agreement to be immediately due and payable. The following is a summary of short-term bank borrowings under the Revolving Credit Facility at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total revolving credit facility $ 1,100,000 $ 1,100,000 Borrowings outstanding at end of period (1) — — Weighted average daily borrowings during the period ended 3,040 161,505 Maximum daily borrowings during the period ended 120,000 340,000 Weighted average interest rate during the period ended 1.6 % 1.4 % Interest rate at end of the period — % — % (1) Excludes $3.3 million and $2.9 million of letters of credit at September 30, 2017 and December 31, 2016, respectively. (e) On January 23, 2017, the Company entered into an unsecured commercial paper program. Under the terms of the program, the Company may issue unsecured commercial paper up to a maximum aggregate amount outstanding of $500.0 million. The notes are sold under customary terms in the United States commercial paper market and rank pari passu with all of the Company’s other unsecured indebtedness. The notes are fully and unconditionally guaranteed by the Operating Partnership. The following is a summary of short-term bank borrowings under the unsecured commercial paper program at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total unsecured commercial paper program $ 500,000 $ — Borrowings outstanding at end of period 285,000 — Weighted average daily borrowings during the period ended 216,174 — Maximum daily borrowings during the period ended 340,000 — Weighted average interest rate during the period ended 1.4 % — % Interest rate at end of the period 1.4 % — % (f) The Company has a working capital credit facility, which provides for a $75.0 million unsecured revolving credit facility (the “Working Capital Credit Facility”) with a scheduled maturity date of January 1, 2019. Based on the Company’s current credit rating, the Working Capital Credit Facility has an interest rate equal to LIBOR plus a margin of 90 basis points. Depending on the Company’s credit rating, the margin ranges from 85 to 155 basis points. The following is a summary of short-term bank borrowings under the Working Capital Credit Facility at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total working capital credit facility $ 75,000 $ 75,000 Borrowings outstanding at end of period 40,717 21,350 Weighted average daily borrowings during the period ended 26,258 21,936 Maximum daily borrowings during the period ended 67,799 69,633 Weighted average interest rate during the period ended 1.9 % 1.4 % Interest rate at end of the period 2.1 % 1.7 % (g) The Company previously entered into forward starting interest rate swaps to hedge against interest rate risk on $200.0 million of this debt. The all-in weighted average interest rate, inclusive of the impact of these interest rate swaps, was 4.55%. (h) On June 16, 2017, the Company issued $300.0 million of 3.50% senior unsecured medium-term notes due July 1, 2027. Interest is payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2018. The notes were priced at 99.764% of the prinicipal amount at issuance. The Company used the net proceeds for the repayment of outstanding indebtedness and for general corporate purposes. (i) The Operating Partnership is a guarantor of this debt. The aggregate maturities, including amortizing principal payments of unsecured and secured debt, of total debt for the next ten calendar years subsequent to September 30, 2017 are as follows (dollars in thousands): Total Fixed Total Variable Total Total Total Year Secured Debt Secured Debt Secured Debt Unsecured Debt Debt 2017 $ 1,133 $ — $ 1,133 $ 285,000 $ 286,133 2018 4,636 29,034 33,670 300,000 333,670 2019 249,395 67,700 317,095 40,717 357,812 2020 198,076 — 198,076 300,000 498,076 2021 1,117 — 1,117 350,000 351,117 2022 1,157 — 1,157 400,000 401,157 2023 41,245 — 41,245 — 41,245 2024 — — — 315,644 315,644 2025 127,600 — 127,600 300,000 427,600 2026 50,000 — 50,000 300,000 350,000 Thereafter — 27,000 27,000 300,000 327,000 Subtotal 674,359 123,734 798,093 2,891,361 3,689,454 Non-cash (a) 7,157 (273) 6,884 (17,327) (10,443) Total $ 681,516 $ 123,461 $ 804,977 $ 2,874,034 $ 3,679,011 (a) Includes the unamortized balance of fair market value adjustments, premiums/discounts and deferred financing costs. For the three months ended September 30, 2017 and 2016, the Company amortized $ 1.1 million and $1. 0 million, respectively, of deferred financing costs into Interest expense. For the nine months ended September 30, 2017 and 2016, the Company amortized $ 3.2 million and $ 3.5 million, respectively, of deferred financing costs into Interest expense. We were in compliance with the covenants of our debt instruments at September 30, 2017.

Income_(Loss) Per Share

Income/(Loss) Per Share	9 Months Ended
	Sep. 30, 2017
INCOME/(LOSS) PER SHARE
INCOME/(LOSS) PER SHARE	7. INCOME/(LOSS) PER SHARE The following table sets forth the computation of basic and diluted income/(loss) per share for the periods presented (dollars and shares in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Numerator for income/(loss) per share: Income/(loss) from continuing operations $ 17,570 $ 29,466 $ 54,896 $ 50,249 Gain/(loss) on sale of real estate owned, net of tax — — 2,132 10,385 Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (1,415) (2,459) (4,607) (4,974) Net (income)/loss attributable to noncontrolling interests 35 (51) (107) (365) Net income/(loss) attributable to UDR, Inc. 16,190 26,956 52,314 55,295 Distributions to preferred stockholders — Series E (Convertible) (926) (929) (2,784) (2,787) Income/(loss) attributable to common stockholders - basic and diluted $ 15,264 $ 26,027 $ 49,530 $ 52,508 Denominator for income/(loss) per share: Weighted average common shares outstanding 267,577 267,081 267,492 265,854 Non-vested restricted stock awards (521) (780) (552) (841) Denominator for basic income/(loss) per share 267,056 266,301 266,940 265,013 Incremental shares issuable from assumed conversion of stock options, unvested LTIP Units and unvested restricted stock 2,006 2,004 1,911 1,912 Denominator for diluted income/(loss) per share 269,062 268,305 268,851 266,925 Income/(loss) per weighted average common share: Basic $ 0.06 $ 0.10 $ 0.19 $ 0.20 Diluted $ 0.06 $ 0.10 $ 0.18 $ 0.20 Basic income/(loss) per common share is computed based upon the weighted average number of common shares outstanding. Diluted income/(loss) per common share is computed based upon the weighted average number of common shares outstanding plus the common shares issuable from the assumed conversion of the OP Units and DownREIT Units, convertible preferred stock, stock options, unvested long-term incentive plan units (“LTIP Units”), unvested restricted stock and continuous equity program forward sales agreements. Only those instruments having a dilutive impact on our basic income/(loss) per share are included in diluted income/(loss) per share during the periods. For the three and nine months ended September 30, 2017 and 2016, the effect of the conversion of the OP Units, DownREIT Units and convertible preferred stock was not dilutive and therefore not included in the above calculation. For the three and nine months ended September 30, 2017 and 2016, the Company did not enter into any forward purchase agreements under its continuous equity program. The following table sets forth the additional shares of common stock outstanding by equity instrument if converted to common stock for each of the three and nine months ended September 30, 2017 and 2016 (shares in thousands) : Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 OP/DownREIT Units 24,822 25,168 24,882 25,183 Convertible preferred stock 3,016 3,028 3,024 3,028 Stock options, unvested LTIP Units and unvested restricted stock 2,006 2,004 1,911 1,912

Noncontrolling Interests

Noncontrolling Interests	9 Months Ended
	Sep. 30, 2017
NONCONTROLLING INTERESTS
NONCONTROLLING INTERESTS	8. NONCONTROLLING INTERESTS Redeemable Noncontrolling Interests in the Operating Partnership and DownREIT Partnership Interests in the Operating Partnership and the DownREIT Partnership held by limited partners are represented by OP Units and DownREIT Units, respectively. The income is allocated to holders of OP Units/DownREIT Units based upon net income attributable to common stockholders and the weighted average number of OP Units/DownREIT Units outstanding to total common shares plus OP Units/DownREIT Units outstanding during the period. Capital contributions, distributions, and profits and losses are allocated to noncontrolling interests in accordance with the terms of the partnership agreements of the Operating Partnership and the DownREIT Partnership. Limited partners of the Operating Partnership and the DownREIT Partnership have the right to require such partnership to redeem all or a portion of the OP Units/DownREIT Units held by the limited partner at a redemption price equal to and in the form of the Cash Amount (as defined in the partnership agreement of the Operating Partnership or the DownREIT Partnership, as applicable), provided that such OP Units/DownREIT Units have been outstanding for at least one year, subject to certain exceptions. UDR, as the general partner of the Operating Partnership and the DownREIT Partnership may, in its sole discretion, purchase the OP Units/DownREIT Units by paying to the limited partner either the Cash Amount or the REIT Share Amount (generally one share of common stock of the Company for each OP Unit/DownREIT Unit), as defined in the partnership agreement of the Operating Partnership or the DownREIT Partnership, as applicable. Accordingly, the Company records the OP Units/DownREIT Units outside of permanent equity and reports the OP Units/DownREIT Units at their redemption value using the Company’s stock price at each balance sheet date. The following table sets forth redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership for the following period ( dollars in thousands ): Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership, December 31, 2016 $ 909,482 Mark-to-market adjustment to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership 57,738 Conversion of OP Units/DownREIT Units to Common Stock (7,437) Net income/(loss) attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership 4,607 Distributions to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (23,667) Vesting of Long-Term Incentive Plan Units 2,317 Allocation of other comprehensive income/(loss) 142 Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership, September 30, 2017 $ 943,182 Noncontrolling Interests Noncontrolling interests represent interests of unrelated partners and unvested LTIP Units in certain consolidated affiliates, and is presented as part of equity in the Consolidated Balance Sheets since these interests are not redeemable. Net (income)/loss attributable to noncontrolling interests was less than $0.1 million and $(0.1) million during the three months ended September 30, 2017 and 2016, respectively, and $(0.1) million and $(0.4) million during the nine months ended September 30, 2017 and 2016, respectively. The Company grants LTIP Units to certain employees and non-employee directors. The LTIP Units represent an ownership interest in the Operating Partnership and have vesting terms of between one and three years, specific to the individual grants. Noncontrolling interests related to long-term incentive plan units represent the unvested LTIP Units of these employees and non-employee directors in the Operating Partnership. The net income/(loss) allocated to the unvested LTIP Units is included in Net (income)/loss attributable to noncontrolling interests on the Consolidated Statements of Operations.

Fair Value of Derivatives and F

Fair Value of Derivatives and Financial Instruments	9 Months Ended
	Sep. 30, 2017
FAIR VALUE OF DERIVATIVES AND FINANCIAL INSTRUMENTS
FAIR VALUE OF DERIVATIVES AND FINANCIAL INSTRUMENTS	9. FAIR VALUE OF DERIVATIVES AND FINANCIAL INSTRUMENTS Fair value is based on the price that would be received to sell an asset or the exit price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level valuation hierarchy prioritizes observable and unobservable inputs used to measure fair value. The fair value hierarchy consists of three broad levels, which are described below: · Level 1 — Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. · Level 2 — Observable inputs other than prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated with observable market data. · Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The estimated fair values of the Company’s financial instruments either recorded or disclosed on a recurring basis as of September 30, 2017 and December 31, 2016 are summarized as follows (dollars in thousands) : Fair Value at September 30, 2017, Using Total Quoted Carrying Prices in Amount in Active Statement of Markets Significant Financial Fair Value for Identical Other Significant Position at Estimate at Assets or Observable Unobservable September 30, September 30, Liabilities Inputs Inputs 2017 2017 (Level 1) (Level 2) (Level 3) Description: Notes receivable (a) $ 18,594 $ 18,578 $ — $ — $ 18,578 Derivatives - Interest rate contracts (b) 4,350 4,350 — 4,350 — Total assets $ 22,944 $ 22,928 $ — $ 4,350 $ 18,578 Secured debt instruments - fixed rate: (c) Mortgage notes payable $ 397,482 $ 398,437 $ — $ — $ 398,437 Fannie Mae credit facilities 285,836 293,050 — — 293,050 Secured debt instruments - variable rate: (c) Tax-exempt secured notes payable 94,700 94,700 — — 94,700 Fannie Mae credit facilities 29,034 29,034 — — 29,034 Unsecured debt instruments: (c) Working capital credit facility 40,717 40,717 — — 40,717 Commercial paper program 285,000 285,000 — — 285,000 Unsecured notes 2,561,874 2,623,456 — — 2,623,456 Total liabilities $ 3,694,643 $ 3,764,394 $ — $ — $ 3,764,394 Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (d) $ 943,182 $ 943,182 $ — $ 943,182 $ — Fair Value at December 31, 2016, Using Total Quoted Carrying Prices in Amount in Active Statement of Markets Significant Financial Fair Value for Identical Other Significant Position at Estimate at Assets or Observable Unobservable December 31, December 31, Liabilities Inputs Inputs 2016 2016 (Level 1) (Level 2) (Level 3) Description: Notes receivable (a) $ 19,790 $ 19,645 $ — $ — $ 19,645 Derivatives - Interest rate contracts (b) 4,360 4,360 — 4,360 — Total assets $ 24,150 $ 24,005 $ — $ 4,360 $ 19,645 Derivatives- Interest rate contracts (b) $ 413 $ 413 $ — $ 413 $ — Secured debt instruments - fixed rate: (c) Mortgage notes payable 402,996 396,045 — — 396,045 Fannie Mae credit facilities 355,836 365,693 — — 365,693 Secured debt instruments - variable rate: (c) Tax-exempt secured notes payable 94,700 94,700 — — 94,700 Fannie Mae credit facilities 280,946 280,946 — — 280,946 Unsecured debt instruments: (c) Working capital credit facility 21,350 21,350 — — 21,350 Unsecured notes 2,261,838 2,304,492 — — 2,304,492 Total liabilities $ 3,418,079 $ 3,463,639 $ — $ 413 $ 3,463,226 Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (d) $ 909,482 $ 909,482 $ — $ 909,482 $ — (a) See Note 2, Significant Accounting Policies . (b) See Note 10, Derivatives and Hedging Activity . (c) See Note 6, Secured Debt and Unsecured Debt, Net . (d) See Note 8, Noncontrolling Interests . There were no transfers into or out of any of the levels of the fair value hierarchy during the nine months ended September 30, 2017. Financial Instruments Carried at Fair Value The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The fair values of interest rate options are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rate of the caps. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of September 30, 2017 and December 31, 2016, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. In conjunction with the FASB’s fair value measurement guidance, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership have a redemption feature and are marked to their redemption value. The redemption value is based on the fair value of the Company’s common stock at the redemption date, and therefore, is calculated based on the fair value of the Company’s common stock at the balance sheet date. Since the valuation is based on observable inputs such as quoted prices for similar instruments in active markets, redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership are classified as Level 2. Financial Instruments Not Carried at Fair Value At September 30, 2017 and December 31, 2016, the fair values of cash and cash equivalents, restricted cash, accounts receivable, prepaids, real estate taxes payable, accrued interest payable, security deposits and prepaid rent, distributions payable and accounts payable approximated their carrying values because of the short term nature of these instruments. The estimated fair values of other financial instruments were determined by the Company using available market information and appropriate valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair values. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company would realize on the disposition of the financial instruments. The use of different market assumptions or estimation methodologies may have a material effect on the estimated fair value amounts. We estimate the fair value of our notes receivable and debt instruments by discounting the remaining cash flows of the debt instrument at a discount rate equal to the replacement market credit spread plus the corresponding treasury yields. Factors considered in determining a replacement market credit spread include general market conditions, borrower specific credit spreads, time remaining to maturity, loan-to-value ratios and collateral quality, where applicable (Level 3). We record impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the undiscounted cash flows estimated to be generated by the future operation and disposition of those assets are less than the net book value of those assets. Our cash flow estimates are based upon historical results adjusted to reflect our best estimate of future market and operating conditions and our estimated holding periods. The net book value of impaired assets is reduced to fair value. Our estimates of fair value represent our best estimate based upon Level 3 inputs such as industry trends and reference to market rates and transactions. We consider various factors to determine if a decrease in the value of our investment in and advances to unconsolidated joint ventures, net is other-than-temporary. These factors include, but are not limited to, age of the venture, our intent and ability to retain our investment in the entity, the financial condition and long-term prospects of the entity, and the relationships with the other joint venture partners and its lenders. Based on the significance of the unobservable inputs, we classify these fair value measurements within Level 3 of the valuation hierarchy. The Company did not incur any other-than-temporary decrease in the value of its investments in unconsolidated joint ventures during the three and nine months ended September 30, 2017 and 2016. After determining an other-than-temporary decrease in the value of an equity method investment has occurred, we estimate the fair value of our investment by estimating the proceeds we would receive upon a hypothetical liquidation of the investment at the date of measurement. Inputs reflect management’s best estimate of what market participants would use in pricing the investment giving consideration to the terms of the joint venture agreement and the estimated discounted future cash flows to be generated from the underlying joint venture assets. The inputs and assumptions utilized to estimate the future cash flows of the underlying assets are based upon the Company’s evaluation of the economy, market trends, operating results, and other factors, including judgments regarding costs to complete any construction activities, lease up and occupancy rates, rental rates, inflation rates, capitalization rates utilized to estimate the projected cash flows at the disposition, and discount rates.

Derivatives and Hedging Activit

Derivatives and Hedging Activity	9 Months Ended
	Sep. 30, 2017
DERIVATIVES AND HEDGING ACTIVITY
DERIVATIVES AND HEDGING ACTIVITY	10. DERIVATIVES AND HEDGING ACTIVITY Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its debt funding and through the use of derivative financial instruments. Specifically, the Company may enter into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps and caps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate caps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in Accumulated other comprehensive income/(loss), net in the Consolidated Balance Sheets and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the three and nine months ended September 30, 2017 and 2016, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During the three months ended September 30, 2017, the Company recorded no ineffectiveness to earnings and during the nine months ended September 30, 2017, recognized a loss of $0.1 million reclassified from Accumulated OCI to Interest expense due to the de-designation of cash flow hedges. During the three and nine months ended September 30, 2016, the Company recorded no ineffectiveness to earnings. Amounts reported in Accumulated other comprehensive income/(loss), net in the Consolidated Balance Sheets related to derivatives that will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. Through September 30, 2018, the Company estimates that an additional $0.2 million will be reclassified as a decrease to interest expense. As of September 30, 2017, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk ( dollars in thousands ): Number of Product Instruments Notional Interest rate swaps 4 $ 315,000 Interest rate caps 1 $ 65,197 Derivatives not designated as hedges are not speculative and are used to manage the Company’s exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of GAAP. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings and resulted in a loss of less than $0.1 million for the three and nine months ended September 30, 2017 and 2016. As of September 30, 2017, the Company had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships ( dollars in thousands ): Number of Product Instruments Notional Interest rate caps 3 $ 271,076 Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheet The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): Asset Derivatives Liability Derivatives (included in Other assets ) (included in Other liabilities ) Fair Value at: Fair Value at: September 30, December 31, September 30, December 31, 2017 2016 2017 2016 Derivatives designated as hedging instruments: Interest rate products $ 4,350 $ 4,359 $ — $ 413 Derivatives not designated as hedging instruments: Interest rate products $ — $ 1 $ — $ — Tabular Disclosure of the Effect of Derivative Instruments on the Consolidated Statements of Operations The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ): Gain/(Loss) Recognized in Gain/(Loss) Reclassified Interest expense Unrealized holding gain/(loss) from Accumulated OCI into (Ineffective Portion and Recognized in OCI Interest expense Amount Excluded from (Effective Portion) (Effective Portion) Effectiveness Testing) Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 2017 2016 Three Months Ended September 30, Interest rate products $ 131 $ 1,090 $ (119) $ (914) $ — $ — Nine Months Ended September 30, Interest rate products $ 256 $ (1,684) $ (1,192) $ (2,792) $ (136) $ — Gain/(Loss) Recognized in Interest income and other income/(expense), net Derivatives Not Designated as Hedging Instruments 2017 2016 Three Months Ended September 30, Interest rate products $ — $ (1) Nine Months Ended September 30, Interest rate products $ (1) $ (4) Credit-risk-related Contingent Features The Company has agreements with some of its derivative counterparties that contain a provision where (1) if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations; or (2) the Company could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Company’s default on the indebtedness. Certain of the Company’s agreements with its derivative counterparties contain provisions where, if there is a change in the Company’s financial condition that materially changes the Company’s creditworthiness in an adverse manner, the Company may be required to fully collateralize its obligations under the derivative instrument. At September 30, 2017 and December 31, 2016, no cash collateral was posted or required to be posted by the Company or by a counterparty. The Company also has an agreement with a derivative counterparty that incorporates the loan and financial covenant provisions of the Company’s indebtedness with a lender affiliate of the derivative counterparty. Failure to comply with these covenant provisions would result in the Company being in default on any derivative instrument obligations covered by the applicable agreement. The Company has certain agreements with some of its derivative counterparties that contain a provision where, in the event of default by the Company or the counterparty, the right of setoff may be exercised. Any amount payable to one party by the other party may be reduced by its setoff against any amounts payable by the other party. Events that give rise to default by either party may include, but are not limited to, the failure to pay or deliver payment under the derivative agreement, the failure to comply with or perform under the derivative agreement, bankruptcy, a merger without assumption of the derivative agreement, or in a merger, a surviving entity’s creditworthiness is materially weaker than the original party to the derivative agreement. As of September 30, 2017, the fair value of derivatives was in a net asset position, which includes accrued interest but excludes any adjustment for nonperformance risk related to these agreements, of $4.4 million. As of September 30, 2017, the Company has not posted any collateral related to these agreements. Tabular Disclosure of Offsetting Derivatives The Company has elected not to offset derivative positions in the consolidated financial statements. The tables below present the effect on its financial position had the Company made the election to offset its derivative positions as of September 30, 2017 and December 31, 2016 (dollars in thousands): Gross Net Amounts of Gross Amounts Not Offset Amounts Assets in the Consolidated Gross Offset in the Presented in the Balance Sheet Amounts of Consolidated Consolidated Cash Recognized Balance Balance Sheets Financial Collateral Offsetting of Derivative Assets Assets Sheets (a) Instruments Received Net Amount September 30, 2017 $ 4,350 $ — $ 4,350 $ — $ — $ 4,350 December 31, 2016 $ 4,360 $ — $ 4,360 $ (221) $ — $ 4,139 (a) Amounts reconcile to the aggregate fair value of derivative assets in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote. Gross Net Amounts of Gross Amounts Not Offset Amounts Liabilities in the Consolidated Gross Offset in the Presented in the Balance Sheet Amounts of Consolidated Consolidated Cash Recognized Balance Balance Sheets Financial Collateral Offsetting of Derivative Liabilities Liabilities Sheets (a) Instruments Posted Net Amount September 30, 2017 $ — $ — $ — $ — $ — $ — December 31, 2016 $ 413 $ — $ 413 $ (221) $ — $ 192 (a) Amounts reconcile to the aggregate fair value of derivative liabilities in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote .

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2017
STOCK BASED COMPENSATION
STOCK BASED COMPENSATION	11. STOCK BASED COMPENSATION The Company recognized stock based compensation expense, inclusive of awards granted to our independent directors, net of capitalization, of $3.3 million and $3.5 million during the three months ended September 30, 2017 and 2016, respectively, and $10.1 million and $10.5 million during the nine months ended September 30, 2017 and 2016, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	12. COMMITMENTS AND CONTINGENCIES Commitments Real Estate Under Development The following summarizes the Company’s real estate commitments at September 30, 2017 ( dollars in thousands ): Expected Average Number of Costs Incurred to Costs Ownership Properties Date (a) to Complete Stake Wholly-owned — under development 2 $ 534,317 (b) $ 182,183 100 % Wholly-owned — redevelopment 1 8,006 (b) 1,494 100 % Joint ventures: Unconsolidated joint ventures 5 463,682 36,263 (c) 50 % Participating loan investments 1 93,983 (d) — — % Preferred equity investments 5 80,143 (e) 58,194 (f) 48 % (g) Other investments 1 17,812 35,747 (h) — % Total $ 1,197,943 $ 313,881 (a) Represents 100% of project costs incurred as of September 30, 2017. (b) Costs incurred as of September 30, 2017 include $ 38.3 million and $ 1.5 million of accrued fixed assets for development and redevelopment, respectively. (c) Represents UDR’s proportionate share of expected remaining costs to complete the developments. (d) Represents the participating loan balance funded as of September 30, 2017. On October 5, 2017, the Company acquired the Steele Creek community for a purchase price of approximately $141.5 million (see Note 3, Real Estate Owned ). (e) Represents UDR’s investment in the West Coast Development Joint Ventures, 1532 Harrison and 1200 Broadway for the properties under development as of September 30, 2017. (f) Represents UDR’s remaining commitment for 1532 Harrison and 1200 Broadway. (g) Represents UDR’s average ownership stake in the West Coast Development Joint Ventures only and does not include UDR’s preferred equity interest in 1532 Harrison and 1200 Broadway. (h) Represents UDR’s remaining commitment for The Portals and other investment ventures. Contingencies Litigation and Legal Matters The Company is subject to various legal proceedings and claims arising in the ordinary course of business. The Company cannot determine the ultimate liability with respect to such legal proceedings and claims at this time. The Company believes that such liability, to the extent not provided for through insurance or otherwise, will not have a material adverse effect on our financial condition, results of operations or cash flow.

Reportable Segments

Reportable Segments	9 Months Ended
	Sep. 30, 2017
REPORTABLE SEGMENTS
REPORTABLE SEGMENTS	13. REPORTABLE SEGMENTS GAAP guidance requires that segment disclosures present the measure(s) used by the chief operating decision maker to decide how to allocate resources and for purposes of assessing such segments’ performance. UDR’s chief operating decision maker is comprised of several members of its executive management team who use several generally accepted industry financial measures to assess the performance of the business for our reportable operating segments. UDR owns and operates multifamily apartment communities that generate rental and other property related income through the leasing of apartment homes to a diverse base of tenants. The primary financial measures for UDR’s apartment communities are rental income and net operating income (“NOI”). Rental income represents gross market rent less adjustments for concessions, vacancy loss and bad debt. NOI is defined as rental income less direct property rental expenses. Rental expenses include real estate taxes, insurance, personnel, utilities, repairs and maintenance, administrative and marketing. Excluded from NOI is property management expense, which is calculated as 2.75% of property revenue to cover the regional supervision and accounting costs related to consolidated property operations, and land rent. UDR’s chief operating decision maker utilizes NOI as the key measure of segment profit or loss. UDR’s two reportable segments are Same-Store Communities and Non-Mature Communities/Other : · Same-Store Communities represent those communities acquired, developed, and stabilized prior to July 1, 2016 (for quarter-to-date comparison) and January 1, 2016 (for year-to-date comparison) and held as of September 30, 2017. A comparison of operating results from the prior year is meaningful as these communities were owned and had stabilized occupancy and operating expenses as of the beginning of the prior period, there is no plan to conduct substantial redevelopment activities, and the community is not held for disposition within the current year. A community is considered to have stabilized occupancy once it achieves 90% occupancy for at least three consecutive months. · Non-Mature Communities/Other represent those communities that do not meet the criteria to be included in Same-Store Communities , including, but not limited to, recently acquired, developed and redeveloped communities, and the non-apartment components of mixed use properties. Management evaluates the performance of each of our apartment communities on a Same-Store Community and Non-Mature Community/Other basis, as well as individually and geographically. This is consistent with the aggregation criteria under GAAP as each of our apartment communities generally has similar economic characteristics, facilities, services, and tenants. Therefore, the Company’s reportable segments have been aggregated by geography in a manner identical to that which is provided to the chief operating decision maker. All revenues are from external customers and no single tenant or related group of tenants contributed 10% or more of UDR’s total revenues during the three and nine months ended September 30, 2017 and 2016. The following table details rental income and NOI for UDR’s reportable segments for the three and nine months ended September 30, 2017 and 2016, and reconciles NOI to Net Income/(Loss) Attributable to UDR, Inc. in the Consolidated Statements of Operations (dollars in thousands) : Three Months Ended Nine Months Ended September 30, (a) September 30, (b) 2017 2016 2017 2016 Reportable apartment home segment rental income Same-Store Communities West Region $ 84,287 $ 80,975 $ 249,730 $ 238,948 Mid-Atlantic Region 57,061 55,903 157,010 152,661 Northeast Region 38,162 37,211 113,814 110,420 Southeast Region 29,297 28,150 87,103 82,989 Southwest Region 10,816 10,453 32,181 30,815 Non-Mature Communities/Other 28,641 27,563 94,355 92,547 Total segment and consolidated rental income $ 248,264 $ 240,255 $ 734,193 $ 708,380 Reportable apartment home segment NOI Same-Store Communities West Region $ 62,939 $ 61,510 $ 187,493 $ 179,473 Mid-Atlantic Region 39,479 37,958 108,965 104,150 Northeast Region 26,100 26,379 80,151 79,721 Southeast Region 20,712 18,882 60,432 56,759 Southwest Region 6,429 6,415 19,722 19,090 Non-Mature Communities/Other 19,062 19,212 64,064 62,612 Total segment and consolidated NOI 174,721 170,356 520,827 501,805 Reconciling items: Joint venture management and other fees 2,827 2,997 8,718 8,473 Property management (6,827) (6,607) (20,190) (19,480) Other operating expenses (1,950) (1,636) (6,010) (5,280) Real estate depreciation and amortization (107,171) (105,802) (320,653) (317,078) General and administrative (12,467) (11,826) (36,976) (36,505) Casualty-related (charges)/recoveries, net (2,056) (205) (3,749) (1,834) Other depreciation and amortization (1,585) (1,526) (4,760) (4,565) Income/(loss) from unconsolidated entities 1,819 15,285 11,591 16,289 Interest expense (30,095) (31,954) (94,500) (93,736) Interest income and other income/(expense), net 481 478 1,423 1,449 Tax (provision)/benefit, net (127) (94) (825) 711 Gain/(loss) on sale of real estate owned, net of tax — — 2,132 10,385 Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (1,415) (2,459) (4,607) (4,974) Net (income)/loss attributable to noncontrolling interests 35 (51) (107) (365) Net income/(loss) attributable to UDR, Inc. $ 16,190 $ 26,956 $ 52,314 $ 55,295 (a) Same-Store Community population consisted of 36,540 apartment homes. (b) Same-Store Community population consisted of 35,689 apartment homes. The following table details the assets of UDR’s reportable segments as of September 30, 2017 and December 31, 2016 (dollars in thousands) : September 30, December 31, 2017 2016 Reportable apartment home segment assets: Same-Store Communities: West Region $ 2,964,637 $ 2,938,073 Mid-Atlantic Region 2,440,929 2,427,948 Northeast Region 1,863,595 1,857,193 Southeast Region 757,135 746,762 Southwest Region 289,123 283,260 Non-Mature Communities/Other 1,675,191 1,362,517 Total segment assets 9,990,610 9,615,753 Accumulated depreciation (3,237,588) (2,923,625) Total segment assets — net book value 6,753,022 6,692,128 Reconciling items: Cash and cash equivalents 1,788 2,112 Restricted cash 20,413 19,994 Notes receivable, net 18,594 19,790 Investment in and advances to unconsolidated joint ventures, net 839,864 827,025 Other assets 127,024 118,535 Total consolidated assets $ 7,760,705 $ 7,679,584 Capital expenditures related to our Same-Store Communities totaled $24.8 million and $25.5 million for the three months ended September 30, 2017 and 2016, respectively, and $63.8 million and $62.0 million for the nine months ended September 30, 2017 and 2016, respectively. Capital expenditures related to our Non-Mature Communities/Other totaled $0.8 million and $1.5 million for the three months ended September 30, 2017 and 2016, respectively, and $3.1 million and $6.5 million for the nine months ended September 30, 2017 and 2016, respectively. Markets included in the above geographic segments are as follows: i. West Region — San Francisco, Orange County, Seattle, Los Angeles, Monterey Peninsula, Other Southern California and Portland ii. Mid-Atlantic Region — Metropolitan D.C., Richmond and Baltimore iii. Northeast Region — New York and Boston iv. Southeast Region — Orlando, Nashville, Tampa and Other Florida v. Southwest Region — Dallas and Austin

Significant Accounting Polici23

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
SIGNIFICANT ACCOUNTING POLICIES
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging, Targeted Improvements to Accounting for Hedging Activities . The ASU aims to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The updated standard will be effective for the Company on January 1, 2019 and must be applied using a modified retrospective approach; however, early adoption of the ASU is permitted. The Company does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017‑01, Business Combinations (Topic 805), Clarifying the Definition of a Business. The ASU changes the definition of a business to assist entities with evaluating whether a set of transferred assets is a business. As a result, the accounting for acquisitions of real estate could be impacted. The updated standard will be effective for the Company on January 1, 2018; however, early adoption of the ASU is permitted. The ASU will be applied prospectively to any transactions occurring within the period of adoption. The Company expects that the updated standard will result in fewer acquisitions of real estate meeting the definition of a business and fewer acquisition-related costs being expensed in the period incurred. In November 2016, the FASB issued ASU 2016‑18, Statement of Cash Flows (Topic 230), Restricted Cash . The ASU addresses the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. The updated standard will be effective for the Company on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Company does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU. In August 2016, the FASB issued ASU 2016‑15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments . The ASU addresses specific cash flow items with the objective of reducing existing diversity in practice, including the treatment of distributions received from equity method investees. The updated standard will be effective for the Company on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Company elected to early adopt ASU 2016‑15 in 2016 and elected to classify distributions received from equity method investees using the cumulative earnings approach. No prior period amounts required adjustment as a result of the adoption. In June 2016, the FASB issued ASU 2016‑13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The standard requires entities to estimate a lifetime expected credit loss for most financial assets, including trade and other receivables, held-to-maturity debt securities, loans and other financial instruments, and to present the net amount of the financial instrument expected to be collected. The updated standard will be effective for the Company on January 1, 2020; however, early adoption of the ASU is permitted on January 1, 2019. The Company is currently evaluating the effect that the updated standard will have on the consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016‑09, Compensation-Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting . The ASU aims to simplify the accounting for share-based payments by amending the accounting for forfeitures, statutory tax withholding requirements, classification in the statements of cash flow and income taxes. The updated standard was effective for the Company on January 1, 2017, at which time the Company prospectively began accounting for forfeitures as incurred and began applying the updated rules for statutory withholdings. As a result of adopting the ASU, the Company recorded a one-time adjustment for existing estimated forfeitures of $0.6 million as of January 1, 2017 to Distributions in Excess of Net Income on January 1, 2017. In February 2016, the FASB issued ASU No. 2016‑02, Leases . The standard amends the existing lease accounting guidance and requires lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that have a duration of one year or less) on their balance sheets. Lessees will continue to recognize lease expense in a manner similar to current accounting. For lessors, accounting for leases under the new guidance is substantially the same as in prior periods, but eliminates current real estate-specific provisions and changes the treatment of initial direct costs. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparable period presented, with an option to elect certain transition relief. Full retrospective application is prohibited. The standard will be effective for the Company on January 1, 2019; however, early adoption of the ASU is permitted. While the Company is currently evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures, we expect to adopt the guidance on its effective date, at which time we will recognize right-of-use assets and related lease liabilities on our consolidated balance sheets related to ground leases on any communities where we are the lessee. In May 2014, the FASB issued ASU No. 2014‑09, Revenue from Contracts with Customers . The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective, including industry-specific revenue guidance. The standard specifically excludes lease contracts. The ASU allows for the use of either the full or modified retrospective transition method and will be effective for the Company on January 1, 2018, at which time the Company expects to adopt the updated standard using the modified retrospective approach. However, as the majority of the Company’s revenue is from rental income related to leases, the Company does not expect the ASU to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU.
Principles of Consolidation	Principles of Consolidation The Company accounts for subsidiary partnerships, joint ventures and other similar entities in which it holds an ownership interest in accordance with the consolidation guidance. The Company first evaluates whether each entity is a variable interest entity (“VIE”). Under the VIE model, the Company consolidates an entity when it has control to direct the activities of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the voting model, the Company consolidates an entity when it controls the entity through ownership of a majority voting interest.
Discontinued operations	Discontinued Operations In accordance with GAAP, a discontinued operation represents (1) a component of an entity or group of components that has been disposed of or is classified as held for sale in a single transaction and represents a strategic shift that has or will have a major effect on an entity’s financial results, or (2) an acquired business that is classified as held for sale on the date of acquisition. A strategic shift could include a disposal of (1) a separate major line of business, (2) a separate major geographic area of operations, (3) a major equity method investment, or (4) other major parts of an entity. We record sales of real estate that do not meet the definition of a discontinued operation in Gain/(loss) on sale of real estate owned, net of tax on the Consolidated Statements of Operations.
Revenue and real estate sales gain recognition	Revenue and Real Estate Sales Gain Recognition Rental income related to leases is recognized on an accrual basis when due from residents and tenants in accordance with GAAP. Rental payments are generally due on a monthly basis and recognized when earned. The Company recognizes interest income, management and other fees and incentives when earned, and the amounts are fixed and determinable. For sale transactions meeting the requirements for full accrual profit recognition, we remove the related assets and liabilities from our Consolidated Balance Sheets and record the gain or loss in the period the transaction closes. For sale transactions that do not meet the full accrual sale criteria due to our continuing involvement, we evaluate the nature of the continuing involvement and account for the transaction under an alternate method of accounting. Unless certain limited criteria are met, non-monetary transactions, including property exchanges, are accounted for at fair value. Sales to entities in which we retain or otherwise own an interest are accounted for as partial sales. If all other requirements for recognizing profit under the full accrual method have been satisfied and no other forms of continuing involvement are present, we recognize profit proportionate to the outside interest of the buyer and defer the gain on the interest we retain. The Company recognizes any deferred gain when the property is sold to a third party. In transactions accounted for by us as partial sales, we determine if the buyer of the majority equity interest in the venture was provided a preference as to cash flows in either an operating or a capital waterfall. If a cash flow preference has been provided, we recognize profit only to the extent that proceeds from the sale of the majority equity interest exceed costs related to the entire property.
Notes Receivable	Notes Receivable The following table summarizes our notes receivable, net as of September 30, 2017 and December 31, 2016 ( dollars in thousands): Interest rate at Balance Outstanding September 30, September 30, December 31, 2017 2017 2016 Note due February 2020 (a) 10.00 % $ 12,994 $ 12,994 Note due July 2017 (b) — % — 2,500 Note due October 2020 (c) 8.00 % 2,000 1,296 Note due August 2022 (d) 10.00 % 3,600 3,000 Total notes receivable, net $ 18,594 $ 19,790 (a) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $13.0 million. Interest payments are due monthly. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $5.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) the eighth anniversary of the date of the note (February 2020). (b) At December 31, 2016, the Company had a secured note receivable with an unaffiliated third party with an aggregate commitment of $2.5 million. The outstanding balance was paid in full during the nine months ended September 30, 2017. (c) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $2.0 million, of which $2.0 million had been funded. During the nine months ended September 30, 2017, the Company loaned $0.7 million. Interest payments are due when the loan matures. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $10.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) the fifth anniversary of the date of the note (October 2020). (d) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $10.0 million, of which, $3. 6 million has been funded. During the nine months ended September 30, 2017, the Company loaned $0.6 million. Interest payments are due monthly. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $25.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) August 2022. In September 2017, the terms of this secured note receivable were amended to reduce the aggregate commitment from $15.0 million to $10.0 million and to extend the maturity date of the note from the fifth anniversary of the note (April 2021) to August 2022. The Company recognized $0.4 million and $0.5 million of interest income from notes receivable during the three months ended September 30, 2017 and 2016, respectively, and $1.4 million and $1.3 million during the nine months ended September 30, 2017 and 2016, respectively, none of which was related party interest income. Interest income is included in Interest income and other income/(expense), net on the Consolidated Statements of Operations.
Comprehensive Income/(Loss)	Comprehensive Income/(Loss) Comprehensive income/(loss), which is defined as the change in equity during each period from transactions and other events and circumstances from nonowner sources, including all changes in equity during a period except for those resulting from investments by or distributions to stockholders, is displayed in the accompanying Consolidated Statements of Comprehensive Income/(Loss). For the three and nine months ended September 30, 2017 and 2016, the Company’s other comprehensive income/(loss) consisted of the gain/(loss) (effective portion) on derivative instruments that are designated as and qualify as cash flow hedges, (gain)/loss on derivative instruments reclassified from other comprehensive income/(loss) into earnings, and the allocation of other comprehensive income/(loss) to noncontrolling interests. The (gain)/loss on derivative instruments reclassified from other comprehensive income/(loss) is included in Interest expense on the Consolidated Statements of Operations. See Note 10, Derivatives and Hedging Activity, for further discussion. The allocation of other comprehensive income/(loss) to redeemable noncontrolling interests during the three months ended September 30, 2017 and 2016 was less than $0.1 million and $0.2 million, respectively, and during the nine months ended September 30, 2017 and 2016 was $0.1 million and $(0.4) million, respectively.
Income Taxes	Income Taxes Due to the structure of the Company as a REIT and the nature of the operations for the operating properties, no provision for federal income taxes has been provided for at UDR. Historically, the Company has generally incurred only state and local excise and franchise taxes. UDR has elected for certain consolidated subsidiaries to be treated as taxable REIT subsidiaries (“TRS”). Income taxes for our TRS are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities from a change in tax rate is recognized in earnings in the period of the enactment date. The Company’s deferred tax assets are generally the result of differing depreciable lives on capitalized assets and timing of expense recognition for certain accrued liabilities. As of September 30, 2017 and December 31, 2016, UDR’s net deferred tax asset was $0.2 million and $0.6 million, respectively. GAAP defines a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. GAAP also provides guidance on derecognition, classification, interest and penalties, accounting for interim periods, disclosure and transition. The Company recognizes its tax positions and evaluates them using a two-step process. First, UDR determines whether a tax position is more likely than not (greater than 50 percent probability) to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Second, the Company will determine the amount of benefit to recognize and record the amount that is more likely than not to be realized upon ultimate settlement. UDR had no material unrecognized tax benefit, accrued interest or penalties at September 30, 2017. UDR and its subsidiaries are subject to federal income tax as well as income tax of various state and local jurisdictions. The tax years 2013 through 2016 remain open to examination by tax jurisdictions to which we are subject. When applicable, UDR recognizes interest and/or penalties related to uncertain tax positions in Tax (provision)/benefit, net on the Consolidated Statements of Operations.

Significant Accounting Polici24

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
SIGNIFICANT ACCOUNTING POLICIES
Notes receivable	The following table summarizes our notes receivable, net as of September 30, 2017 and December 31, 2016 ( dollars in thousands): Interest rate at Balance Outstanding September 30, September 30, December 31, 2017 2017 2016 Note due February 2020 (a) 10.00 % $ 12,994 $ 12,994 Note due July 2017 (b) — % — 2,500 Note due October 2020 (c) 8.00 % 2,000 1,296 Note due August 2022 (d) 10.00 % 3,600 3,000 Total notes receivable, net $ 18,594 $ 19,790 (a) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $13.0 million. Interest payments are due monthly. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $5.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) the eighth anniversary of the date of the note (February 2020). (b) At December 31, 2016, the Company had a secured note receivable with an unaffiliated third party with an aggregate commitment of $2.5 million. The outstanding balance was paid in full during the nine months ended September 30, 2017. (c) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $2.0 million, of which $2.0 million had been funded. During the nine months ended September 30, 2017, the Company loaned $0.7 million. Interest payments are due when the loan matures. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $10.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) the fifth anniversary of the date of the note (October 2020). (d) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $10.0 million, of which, $3. 6 million has been funded. During the nine months ended September 30, 2017, the Company loaned $0.6 million. Interest payments are due monthly. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $25.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) August 2022. In September 2017, the terms of this secured note receivable were amended to reduce the aggregate commitment from $15.0 million to $10.0 million and to extend the maturity date of the note from the fifth anniversary of the note (April 2021) to August 2022.

Real Estate Owned (Tables)

Real Estate Owned (Tables)	9 Months Ended
	Sep. 30, 2017
REAL ESTATE OWNED
Summary of carrying amounts for real estate owned (at cost)	The following table summarizes the carrying amounts for our real estate owned (at cost) as of September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Land $ 1,788,391 $ 1,801,576 Depreciable property — held and used: Land improvements 186,736 178,701 Building, improvements, and furniture, fixtures and equipment 7,481,166 7,291,570 Under development: Land and land improvements 111,028 111,028 Building, improvements, and furniture, fixtures and equipment 423,289 231,254 Real estate held for disposition: Land and land improvements — 1,104 Building, improvements, and furniture, fixtures and equipment — 520 Real estate owned 9,990,610 9,615,753 Accumulated depreciation (3,237,588) (2,923,625) Real estate owned, net $ 6,753,022 $ 6,692,128

Joint Ventures and Partnershi26

Joint Ventures and Partnerships (Tables)	9 Months Ended
	Sep. 30, 2017
JOINT VENTURES AND PARTNERSHIPS
Schedule of Equity Method Investments [Table Text Block]	The following table summarizes the Company’s investment in and advances to unconsolidated joint ventures and partnerships, net, which are accounted for under the equity method of accounting as of September 30, 2017 and December 31, 2016 (dollars in thousands) : Number of Number of Apartment Properties Homes Investment at UDR’s Ownership Interest Location of September 30, September 30, September 30, December 31, September 30, December 31, Joint Venture Properties 2017 2017 2017 2016 2017 2016 Operating and development: UDR/MetLife I Los Angeles, CA 1 development community (a) 150 $ 34,404 $ 25,209 50.0 % 50.0 % UDR/MetLife II (b) Various 18 operating communities 4,059 307,410 311,282 50.0 % 50.0 % Other UDR/MetLife Development Joint Ventures Various 2 operating communities; 1,437 140,160 160,979 50.6 % 50.6 % 3 development communities (a) UDR/MetLife Vitruvian Park ® Addison, TX 3 operating communities; 1,513 75,608 72,414 50.0 % 50.0 % 1 development community (a); 5 land parcels UDR/KFH Washington, D.C. 3 operating communities 660 9,930 12,835 30.0 % 30.0 % Investment in and advances to unconsolidated joint ventures, net, before participating loan investment, preferred equity investments and other investments $ 567,512 $ 582,719 Income from investments Investment at Three Months Ended Nine Months Ended Years To UDR September 30, December 31, September 30, September 30, Developer Capital Program (c) Location Rate Maturity Commitment 2017 2016 2017 2016 2017 2016 Participating loan investment: Steele Creek (d) Denver, CO 6.5 % 0.3 $ 93,458 $ 93,983 $ 94,003 $ 1,567 $ 1,567 $ 4,650 $ 4,646 Preferred equity investments: West Coast Development Joint Ventures (e) Various 6.5 % (c) N/A — 138,548 150,303 3,355 1,476 16,894 4,674 1532 Harrison (f) San Francisco, CA 11.0 % 5.0 24,645 9,115 — 226 — 228 — 1200 Broadway (g) Nashville, TN 8.0 % 5.0 55,558 12,894 — 65 — 65 — Other investments: The Portals (h) Washington, DC 11.0 % 4.0 38,559 17,048 — 330 — 346 — Other investment ventures N/A N/A N/A $ 15,000 764 — $ — $ — $ — $ — Total Developer Capital Program 272,352 244,306 Total investment in and advances to unconsolidated joint ventures, net $ 839,864 $ 827,025 (a) The number of apartment homes for the communities under development presented in the table above is based on the projected number of total homes upon completion of development. As of September 30, 2017, 726 apartment homes had been completed in Other UDR/MetLife Development Joint Ventures, and no apartment homes had been completed in UDR/MetLife I or in UDR/MetLife Vitruvian Park ® . (b) In September 2015, the 717 Olympic community, which is owned by the UDR/MetLife II joint venture, experienced extensive water damage due to a ruptured water pipe. For the nine months ended September 30, 2017 and 2016, the Company recorded casualty-related charges/(recoveries) of $(0.9) million and $( 3.5) million, respectively, representing its proportionate share of the total charges/(recoveries) recognized. (c) The Developer Capital Program is the program through which the Company makes investments, including preferred equity investments, mezzanine loans or other structured investments that may receive a fixed yield on the investment and may include provisions pursuant to which the Company participates in the increase in value of the property upon monetization of the applicable property and/or holds fixed price purchase options. (d) On October 5, 2017, the Company acquired the Steele Creek community for a purchase price of approximately $141.5 million (see Note 3, Real Estate Owned ). (e) In May 2015, the Company entered into a joint venture agreement with an unaffiliated joint venture partner and agreed to pay $136.3 million for a 48% ownership interest in a portfolio of five communities that were under construction. The communities are located in three of the Company’s core, coastal markets: Seattle, Washington, Los Angeles and Orange County, California. UDR earns a 6.5% preferred return on its investment through each individual community’s date of stabilization, defined as when a community reaches 80% occupancy for 90 consecutive days, while the joint venture partner is allocated all operating income and expense during the pre-stabilization period. Upon stabilization, income and expense are shared based on each partner’s ownership percentage and the Company no longer receives a 6.5% preferred return on its investment in the stabilized community. The Company serves as property manager and earns a management fee during the lease-up phase and subsequent operation of each of the communities. The unaffiliated joint venture partner is the general partner of the joint venture and the developer of the communities. At inception of the agreement, the Company had a fixed-price option to acquire the remaining interest in each community beginning one year after completion. If the options are exercised for all five communities, the Company’s total purchase price will be $597.4 million. In the event the Company does not exercise its options to purchase at least two communities, the unaffiliated joint venture partner will be entitled to earn a contingent disposition fee equal to a 6.5% return on its implied equity in the communities not acquired. The unaffiliated joint venture partner is providing certain guaranties and there are construction loans on all five communities. In January 2017, the Company exercised its fixed-price option to purchase the joint venture partner’s ownership interest in one of the five communities, a 244 home operating community in Seattle, Washington, thereby increasing its ownership interest from 49% to 100%, for a cash purchase price of approximately $66.0 million. As a result, the Company consolidated the operating community and it is no longer accounted for as a preferred equity investment in an unconsolidated joint venture (see Note 3, Real Estate Owned ). As a result of the consolidation, the Company recorded a gain on consolidation of $12.2 million, which is included in Income/(loss) from unconsolidated entities on the Consolidated Statements of Operations. In August 2017, the joint venture sold one of the four remaining communities, a 211 home operating community in Seattle, Washington for a sales price of approximately $101.3 million. As a result, the Company recorded a gain on the sale of approximately $2.4 million, which is included in Income/(loss) from unconsolidated entities on the Consolidated Statements of Operations. As of September 30, 2017, construction was completed on t wo of the three remaining communities. One of the completed communities has achieved stabilization; the other completed community has not achieved stabilization and the Company continues to receive a 6.5% preferred return on its investment in that community; and the third community is still under construction and the Company continues to receive a 6.5% preferred return on its investment in that community. In October 2017, the joint venture entered into a contract to sell the community that had achieved stabilization to an unrelated party for $148.0 million. In March 2017 and May 2017, the Company entered into two additional joint venture agreements with the unaffiliated joint venture partner and agreed to pay $15.5 million for a 49% ownership interest in a 155 home community that is currently under construction in Seattle, Washington and $16.1 million for a 49% ownership interest in a 276 home community that is currently under construction in Hillsboro, Oregon (together with the May 2015 joint venture described above, the “West Coast Development Joint Ventures”). Consistent with the terms of the May 2015 joint venture agreement, UDR earns a 6.5% preferred return on its investments through the communities’ date of stabilization, as defined above, while our joint venture partner is allocated all operating income and expense during the pre-stabilization period. Upon stabilization of the communities, income and expense will be shared based on each partner’s ownership percentage and the Company will no longer receive a 6.5% preferred return on its investment. The Company will serve as property manager and will earn a management fee during the lease-up phase and subsequent operation of the stabilized communities. The unaffiliated joint venture partner is the general partner and the developer of the communities. The Company has concluded it does not control the joint ventures and accounts for them under the equity method of accounting. The Company has a fixed-price option to acquire the remaining interest in the communities beginning one year after completion for a total price of $61.3 million and $72.3 million, respectively. The unaffiliated joint venture partner is providing certain guaranties and there are construction loans on the communities. The Company’s recorded equity investment in the West Coast Development Joint Ventures at September 30, 2017 and December 31, 2016 of $ 138.5 million and $1 50.3 million, respectively, is inclusive of outside basis costs and our accrued but unpaid preferred return. (f) In June 2017, the Company entered into a joint venture agreement with an unaffiliated joint venture partner to develop and operate a 136 apartment home community in San Francisco, California. The Company’s preferred equity investment of up to $24.6 million earns a preferred return of 11.0% per annum. The unaffiliated joint venture partner is the managing member of the joint venture and the developer of the community. As of September 30, 2017, the Company had contributed approximately $ 9.1 million to the joint venture. The Company has concluded it does not control the joint venture and accounts for it under the equity method of accounting. (g) In September 2017, the Company entered into a joint venture agreement with an unaffiliated joint venture partner to develop and operate a 313 apartment home community in Nashville, Tennessee. The Company’s preferred equity investment of up to $55.6 million earns a preferred return of 8.0% per annum and receives a variable percentage of the value created from the project upon a capital or liquidating event. The unaffiliated joint venture partner is the managing member of the joint venture and the developer of the community. As of September 30, 2017 , the Company had contributed approximately $12.9 million to the joint venture. The Company has concluded it does not control the joint venture and accounts for it under the equity method of accounting. (h) In May 2017, the Company entered into a joint venture agreement with an unaffiliated joint venture partner. The joint venture has made a mezzanine loan to a third-party developer of a 373 apartment home community in Washington, D.C. The unaffiliated joint venture partner is the managing member of the joint venture. The mezzanine loan is for up to $71.0 million at an interest rate of 13.5% per annum and carries a term of four years with one, 12-month extension option. The Company’s investment commitment to the joint venture is approximately $38.6 million and earns a weighted average return rate of approximately 11.0% per annum. As of September 30, 2017, the Company had contributed approximately $17.0 million to the joint venture. The Company has concluded it does not control the joint venture and accounts for it under the equity method of accounting.
Combined Summary of Balance Sheets Relating to Unconsolidated Joint Ventures [Table Text Block]	Combined summary balance sheets relating to the unconsolidated joint ventures and partnerships (not just our proportionate share) are presented below as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): September 30, December 31, 2017 2016 Total real estate, net $ 2,925,111 $ 2,901,067 Cash and cash equivalents 37,794 32,503 Other assets 17,960 19,047 Total assets $ 2,980,865 $ 2,952,617 Amount due to/(from) UDR $ 2,059 $ 521 Third party debt, net 1,857,796 1,794,379 Accounts payable and accrued liabilities 68,042 66,931 Total liabilities $ 1,927,897 $ 1,861,831 Total equity $ 1,052,968 $ 1,091,326
Financial information relating to unconsolidated joint ventures operations	Combined summary financial information relating to the unconsolidated joint ventures ’ and partnerships ’ operations (not just our proportionate share) is presented below for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ) : Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Total revenues $ 63,865 $ 60,366 $ 183,564 $ 173,556 Property operating expenses (24,686) (16,309) (69,356) (62,703) Real estate depreciation and amortization (25,595) (21,260) (73,712) (61,973) Operating income/(loss) 13,584 22,797 40,496 48,880 Interest expense (19,055) (17,176) (55,695) (50,360) Other income/(expense) — (10) — (14) Gain/(loss) on sale of real estate — 10,262 — 10,262 Net income/(loss) $ (5,471) $ 15,873 $ (15,199) $ 8,768

Secured and Unsecured Debt, N27

Secured and Unsecured Debt, Net (Tables)	9 Months Ended
	Sep. 30, 2017
Short-term Debt [Line Items]
Schedule of debt instruments	The following is a summary of our secured and unsecured debt at September 30, 2017 and December 31, 2016 ( dollars in thousands ): Principal Outstanding As of September 30, 2017 Weighted Weighted Average Average Number of September 30, December 31, Interest Years to Communities 2017 2016 Rate Maturity Encumbered Secured Debt: Fixed Rate Debt Mortgage notes payable (a) $ 397,482 $ 402,996 4.04 % 5.6 7 Fannie Mae credit facilities (b) 285,836 355,836 4.86 % 2.3 8 Deferred financing costs (1,802) (2,681) Total fixed rate secured debt, net 681,516 756,151 4.39 % 4.2 15 Variable Rate Debt Tax-exempt secured notes payable (c) 94,700 94,700 1.59 % 5.4 2 Fannie Mae credit facilities (b) 29,034 280,946 2.78 % 1.2 1 Deferred financing costs (273) (939) Total variable rate secured debt, net 123,461 374,707 1.87 % 4.4 3 Total Secured Debt, net 804,977 1,130,858 4.00 % 4.2 18 Unsecured Debt: Variable Rate Debt Borrowings outstanding under unsecured credit facility due January 2020 (d) (i) — — — % 2.3 Borrowings outstanding under unsecured commercial paper program due October 2017 (e) (i) 285,000 — 1.45 % 0.1 Borrowings outstanding under unsecured working capital credit facility due January 2019 (f) 40,717 21,350 2.13 % 1.3 Term Loan Facility due January 2021 (d) (i) 35,000 35,000 2.19 % 3.3 Fixed Rate Debt 4.25% Medium-Term Notes due June 2018 (net of discounts of $287 and $608, respectively) (i) 299,713 299,392 4.25 % 0.7 3.70% Medium-Term Notes due October 2020 (net of discounts of $24 and $30, respectively) (i) 299,976 299,970 3.70 % 3.0 1.98% Term Loan Facility due January 2021 (d) (i) 315,000 315,000 1.98 % 3.3 4.63% Medium-Term Notes due January 2022 (net of discounts of $1,536 and $1,805, respectively) (i) 398,464 398,195 4.63 % 4.3 3.75% Medium-Term Notes due July 2024 (net of discounts of $704 and $782, respectively) (i) 299,296 299,218 3.75 % 6.8 8.50% Debentures due September 2024 15,644 15,644 8.50 % 7.0 4.00% Medium-Term Notes due October 2025 (net of discounts of $551 and $602, respectively) (g) (i) 299,449 299,398 4.00 % 8.0 2.95% Medium-Term Notes due September 2026 (i) 300,000 300,000 2.95 % 8.9 3.50% Medium-Term Notes due July 2027 (net of discounts of $687 and $0, respectively) (h) (i) 299,313 — 3.50 % 9.8 Other 19 21 Deferred financing costs (13,557) (12,568) Total Unsecured Debt, net 2,874,034 2,270,620 3.45 % 4.9 Total Debt, net $ 3,679,011 $ 3,401,478 3.65 % 4.8 For purposes of classification of the above table, variable rate debt with a derivative financial instrument designated as a cash flow hedge is deemed as fixed rate debt due to the Company having effectively established a fixed interest rate for the underlying debt instrument. Our secured debt instruments generally feature either monthly interest and principal or monthly interest-only payments with balloon payments due at maturity. As of September 30, 2017, secured debt encumbered $1.7 billion or 16.8% of UDR’s total real estate owned based upon gross book value ($8.3 billion or 83.2% of UDR’s real estate owned based on gross book value is unencumbered). (a) At September 30, 2017, fixed rate mortgage notes payable are generally due in monthly installments of principal and interest and mature at various dates from May 2019 through November 2026 and carry interest rates ranging from 3.15% to 5.86%. The Company will from time to time acquire properties subject to fixed rate debt instruments. In those situations, the Company records the debt at its estimated fair value and amortizes any difference between the fair value and par value to interest expense over the life of the underlying debt instrument. During the three months ended September 30, 2017 and 2016, the Company had $0.7 million and $0.6 million, respectively, and during the nine months ended September 30, 2017 and 2016, the Company had $2.2 million and $2.1 million, respectively, of amortization of the fair market adjustment of debt assumed in the acquisition of properties,which was included in Interest expense on the Consolidated Statements of Operations. The unamortized fair market adjustment was a net premium of $9.0 million and $11.2 million at September 30, 2017 and December 31, 2016, respectively. (b) UDR had two secured credit facilities with Fannie Mae with an aggregate commitment of $314.9 million at September 30, 2017. The Fannie Mae credit facilities mature at various dates from December 201 8 through July 2020 and bear interest at floating and fixed rates. At September 30, 2017, $285.8 million of the outstanding balance was fixed and had a weighted average interest rate of 4.86% and the remaining balance of $29.0 million had a weighted average variable interest rate of 2.78%. During the nine months ended September 30, 2017, the Company prepaid $275.3 million of its secured credit facilities with borrowings under the Company’s unsecured commercial paper program and proceeds from the issuance of senior unsecured medium-term notes. The Company incurred prepayment costs of $0 and $5.8 million during the three and nine months ended September 30, 2017, respectively, which were included in Interest expense on the Consolidated Statements of Operations. Further information related to these credit facilities is as follows (dollars in thousands) : September 30, December 31, 2017 2016 Borrowings outstanding $ 314,870 $ 636,782 Weighted average borrowings during the period ended 450,581 737,802 Maximum daily borrowings during the period ended 636,782 813,544 Weighted average interest rate during the period ended 4.2 % 3.9 % Weighted average interest rate at the end of the period 4.7 % 3.8 % (c) The variable rate mortgage notes payable that secure tax-exempt housing bond issues mature in August 2019 and March 2032. Interest on these notes is payable in monthly installments. The variable rate mortgage notes have interest rates ranging from 1.59% to 1.60% as of September 30, 2017. (d) The Company has a $1.1 billion unsecured revolving credit facility (the “Revolving Credit Facility”) and a $350.0 million unsecured term loan facility (the “Term Loan Facility”). The credit agreement for these facilities (the “Credit Agreement”) allows the total commitments under the Revolving Credit Facility and the total borrowings under the Term Loan Facility to be increased to an aggregate maximum amount of up to $2.0 billion, subject to certain conditions, including obtaining commitments from any one or more lenders. The Revolving Credit Facility has a scheduled maturity date of January 31, 2020, with two six-month extension options, subject to certain conditions. The Term Loan Facility has a scheduled maturity date of January 29, 2021. Based on the Company’s current credit rating, the Revolving Credit Facility has an interest rate equal to LIBOR plus a margin of 90 basis points and a facility fee of 15 basis points, and the Term Loan Facility has an interest rate equal to LIBOR plus a margin of 95 basis points. Depending on the Company’s credit rating, the margin under the Revolving Credit Facility ranges from 85 to 155 basis points, the facility fee ranges from 12.5 to 30 basis points, and the margin under the Term Loan Facility ranges from 90 to 175 basis points. The Credit Agreement contains customary representations and warranties and financial and other affirmative and negative covenants. The Credit Agreement also includes customary events of default, in certain cases subject to customary periods to cure. The occurrence of an event of default, following the applicable cure period, would permit the lenders to, among other things, declare the unpaid principal, accrued and unpaid interest and all other amounts payable under the Credit Agreement to be immediately due and payable. The following is a summary of short-term bank borrowings under the Revolving Credit Facility at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total revolving credit facility $ 1,100,000 $ 1,100,000 Borrowings outstanding at end of period (1) — — Weighted average daily borrowings during the period ended 3,040 161,505 Maximum daily borrowings during the period ended 120,000 340,000 Weighted average interest rate during the period ended 1.6 % 1.4 % Interest rate at end of the period — % — % (1) Excludes $3.3 million and $2.9 million of letters of credit at September 30, 2017 and December 31, 2016, respectively. (e) On January 23, 2017, the Company entered into an unsecured commercial paper program. Under the terms of the program, the Company may issue unsecured commercial paper up to a maximum aggregate amount outstanding of $500.0 million. The notes are sold under customary terms in the United States commercial paper market and rank pari passu with all of the Company’s other unsecured indebtedness. The notes are fully and unconditionally guaranteed by the Operating Partnership. The following is a summary of short-term bank borrowings under the unsecured commercial paper program at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total unsecured commercial paper program $ 500,000 $ — Borrowings outstanding at end of period 285,000 — Weighted average daily borrowings during the period ended 216,174 — Maximum daily borrowings during the period ended 340,000 — Weighted average interest rate during the period ended 1.4 % — % Interest rate at end of the period 1.4 % — % (f) The Company has a working capital credit facility, which provides for a $75.0 million unsecured revolving credit facility (the “Working Capital Credit Facility”) with a scheduled maturity date of January 1, 2019. Based on the Company’s current credit rating, the Working Capital Credit Facility has an interest rate equal to LIBOR plus a margin of 90 basis points. Depending on the Company’s credit rating, the margin ranges from 85 to 155 basis points. The following is a summary of short-term bank borrowings under the Working Capital Credit Facility at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total working capital credit facility $ 75,000 $ 75,000 Borrowings outstanding at end of period 40,717 21,350 Weighted average daily borrowings during the period ended 26,258 21,936 Maximum daily borrowings during the period ended 67,799 69,633 Weighted average interest rate during the period ended 1.9 % 1.4 % Interest rate at end of the period 2.1 % 1.7 % (g) The Company previously entered into forward starting interest rate swaps to hedge against interest rate risk on $200.0 million of this debt. The all-in weighted average interest rate, inclusive of the impact of these interest rate swaps, was 4.55%. (h) On June 16, 2017, the Company issued $300.0 million of 3.50% senior unsecured medium-term notes due July 1, 2027. Interest is payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2018. The notes were priced at 99.764% of the prinicipal amount at issuance. The Company used the net proceeds for the repayment of outstanding indebtedness and for general corporate purposes. (i) The Operating Partnership is a guarantor of this debt.
Secured credit facilities	Further information related to these credit facilities is as follows (dollars in thousands) : September 30, December 31, 2017 2016 Borrowings outstanding $ 314,870 $ 636,782 Weighted average borrowings during the period ended 450,581 737,802 Maximum daily borrowings during the period ended 636,782 813,544 Weighted average interest rate during the period ended 4.2 % 3.9 % Weighted average interest rate at the end of the period 4.7 % 3.8 %
Aggregate maturities of secured debt	The aggregate maturities, including amortizing principal payments of unsecured and secured debt, of total debt for the next ten calendar years subsequent to September 30, 2017 are as follows (dollars in thousands): Total Fixed Total Variable Total Total Total Year Secured Debt Secured Debt Secured Debt Unsecured Debt Debt 2017 $ 1,133 $ — $ 1,133 $ 285,000 $ 286,133 2018 4,636 29,034 33,670 300,000 333,670 2019 249,395 67,700 317,095 40,717 357,812 2020 198,076 — 198,076 300,000 498,076 2021 1,117 — 1,117 350,000 351,117 2022 1,157 — 1,157 400,000 401,157 2023 41,245 — 41,245 — 41,245 2024 — — — 315,644 315,644 2025 127,600 — 127,600 300,000 427,600 2026 50,000 — 50,000 300,000 350,000 Thereafter — 27,000 27,000 300,000 327,000 Subtotal 674,359 123,734 798,093 2,891,361 3,689,454 Non-cash (a) 7,157 (273) 6,884 (17,327) (10,443) Total $ 681,516 $ 123,461 $ 804,977 $ 2,874,034 $ 3,679,011 (a) Includes the unamortized balance of fair market value adjustments, premiums/discounts and deferred financing costs. For the three months ended September 30, 2017 and 2016, the Company amortized $ 1.1 million and $1. 0 million, respectively, of deferred financing costs into Interest expense. For the nine months ended September 30, 2017 and 2016, the Company amortized $ 3.2 million and $ 3.5 million, respectively, of deferred financing costs into Interest expense.
Commercial Paper
Short-term Debt [Line Items]
Schedule of short-term debt	The following is a summary of short-term bank borrowings under the unsecured commercial paper program at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total unsecured commercial paper program $ 500,000 $ — Borrowings outstanding at end of period 285,000 — Weighted average daily borrowings during the period ended 216,174 — Maximum daily borrowings during the period ended 340,000 — Weighted average interest rate during the period ended 1.4 % — % Interest rate at end of the period 1.4 % — %
Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Schedule of short-term debt	The following is a summary of short-term bank borrowings under the Revolving Credit Facility at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total revolving credit facility $ 1,100,000 $ 1,100,000 Borrowings outstanding at end of period (1) — — Weighted average daily borrowings during the period ended 3,040 161,505 Maximum daily borrowings during the period ended 120,000 340,000 Weighted average interest rate during the period ended 1.6 % 1.4 % Interest rate at end of the period — % — % (1) Excludes $3.3 million and $2.9 million of letters of credit at September 30, 2017 and December 31, 2016, respectively.
Unsecured Working Capital Credit Facility due January 2019 [Member]
Short-term Debt [Line Items]
Schedule of short-term debt	The following is a summary of short-term bank borrowings under the Working Capital Credit Facility at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total working capital credit facility $ 75,000 $ 75,000 Borrowings outstanding at end of period 40,717 21,350 Weighted average daily borrowings during the period ended 26,258 21,936 Maximum daily borrowings during the period ended 67,799 69,633 Weighted average interest rate during the period ended 1.9 % 1.4 % Interest rate at end of the period 2.1 % 1.7 %

Income_(Loss) Per Share (Tables

Income/(Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
INCOME/(LOSS) PER SHARE
(Loss)/earnings per share	The following table sets forth the computation of basic and diluted income/(loss) per share for the periods presented (dollars and shares in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Numerator for income/(loss) per share: Income/(loss) from continuing operations $ 17,570 $ 29,466 $ 54,896 $ 50,249 Gain/(loss) on sale of real estate owned, net of tax — — 2,132 10,385 Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (1,415) (2,459) (4,607) (4,974) Net (income)/loss attributable to noncontrolling interests 35 (51) (107) (365) Net income/(loss) attributable to UDR, Inc. 16,190 26,956 52,314 55,295 Distributions to preferred stockholders — Series E (Convertible) (926) (929) (2,784) (2,787) Income/(loss) attributable to common stockholders - basic and diluted $ 15,264 $ 26,027 $ 49,530 $ 52,508 Denominator for income/(loss) per share: Weighted average common shares outstanding 267,577 267,081 267,492 265,854 Non-vested restricted stock awards (521) (780) (552) (841) Denominator for basic income/(loss) per share 267,056 266,301 266,940 265,013 Incremental shares issuable from assumed conversion of stock options, unvested LTIP Units and unvested restricted stock 2,006 2,004 1,911 1,912 Denominator for diluted income/(loss) per share 269,062 268,305 268,851 266,925 Income/(loss) per weighted average common share: Basic $ 0.06 $ 0.10 $ 0.19 $ 0.20 Diluted $ 0.06 $ 0.10 $ 0.18 $ 0.20
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table sets forth the additional shares of common stock outstanding by equity instrument if converted to common stock for each of the three and nine months ended September 30, 2017 and 2016 (shares in thousands) : Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 OP/DownREIT Units 24,822 25,168 24,882 25,183 Convertible preferred stock 3,016 3,028 3,024 3,028 Stock options, unvested LTIP Units and unvested restricted stock 2,006 2,004 1,911 1,912

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	9 Months Ended
	Sep. 30, 2017
NONCONTROLLING INTERESTS
Redeemable noncontrolling interests in the Operating Partnership	The following table sets forth redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership for the following period ( dollars in thousands ): Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership, December 31, 2016 $ 909,482 Mark-to-market adjustment to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership 57,738 Conversion of OP Units/DownREIT Units to Common Stock (7,437) Net income/(loss) attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership 4,607 Distributions to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (23,667) Vesting of Long-Term Incentive Plan Units 2,317 Allocation of other comprehensive income/(loss) 142 Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership, September 30, 2017 $ 943,182

Fair Value of Derivatives and30

Fair Value of Derivatives and Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
FAIR VALUE OF DERIVATIVES AND FINANCIAL INSTRUMENTS
Estimated fair values	The estimated fair values of the Company’s financial instruments either recorded or disclosed on a recurring basis as of September 30, 2017 and December 31, 2016 are summarized as follows (dollars in thousands) : Fair Value at September 30, 2017, Using Total Quoted Carrying Prices in Amount in Active Statement of Markets Significant Financial Fair Value for Identical Other Significant Position at Estimate at Assets or Observable Unobservable September 30, September 30, Liabilities Inputs Inputs 2017 2017 (Level 1) (Level 2) (Level 3) Description: Notes receivable (a) $ 18,594 $ 18,578 $ — $ — $ 18,578 Derivatives - Interest rate contracts (b) 4,350 4,350 — 4,350 — Total assets $ 22,944 $ 22,928 $ — $ 4,350 $ 18,578 Secured debt instruments - fixed rate: (c) Mortgage notes payable $ 397,482 $ 398,437 $ — $ — $ 398,437 Fannie Mae credit facilities 285,836 293,050 — — 293,050 Secured debt instruments - variable rate: (c) Tax-exempt secured notes payable 94,700 94,700 — — 94,700 Fannie Mae credit facilities 29,034 29,034 — — 29,034 Unsecured debt instruments: (c) Working capital credit facility 40,717 40,717 — — 40,717 Commercial paper program 285,000 285,000 — — 285,000 Unsecured notes 2,561,874 2,623,456 — — 2,623,456 Total liabilities $ 3,694,643 $ 3,764,394 $ — $ — $ 3,764,394 Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (d) $ 943,182 $ 943,182 $ — $ 943,182 $ — Fair Value at December 31, 2016, Using Total Quoted Carrying Prices in Amount in Active Statement of Markets Significant Financial Fair Value for Identical Other Significant Position at Estimate at Assets or Observable Unobservable December 31, December 31, Liabilities Inputs Inputs 2016 2016 (Level 1) (Level 2) (Level 3) Description: Notes receivable (a) $ 19,790 $ 19,645 $ — $ — $ 19,645 Derivatives - Interest rate contracts (b) 4,360 4,360 — 4,360 — Total assets $ 24,150 $ 24,005 $ — $ 4,360 $ 19,645 Derivatives- Interest rate contracts (b) $ 413 $ 413 $ — $ 413 $ — Secured debt instruments - fixed rate: (c) Mortgage notes payable 402,996 396,045 — — 396,045 Fannie Mae credit facilities 355,836 365,693 — — 365,693 Secured debt instruments - variable rate: (c) Tax-exempt secured notes payable 94,700 94,700 — — 94,700 Fannie Mae credit facilities 280,946 280,946 — — 280,946 Unsecured debt instruments: (c) Working capital credit facility 21,350 21,350 — — 21,350 Unsecured notes 2,261,838 2,304,492 — — 2,304,492 Total liabilities $ 3,418,079 $ 3,463,639 $ — $ 413 $ 3,463,226 Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (d) $ 909,482 $ 909,482 $ — $ 909,482 $ — (a) See Note 2, Significant Accounting Policies . (b) See Note 10, Derivatives and Hedging Activity . (c) See Note 6, Secured Debt and Unsecured Debt, Net . See Note 8, Noncontrolling Interests .

Derivatives and Hedging Activ31

Derivatives and Hedging Activity (Tables)	9 Months Ended
	Sep. 30, 2017
DERIVATIVES AND HEDGING ACTIVITY
Outstanding interest rate derivatives	As of September 30, 2017, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk ( dollars in thousands ): Number of Product Instruments Notional Interest rate swaps 4 $ 315,000 Interest rate caps 1 $ 65,197 Derivatives not designated as hedges are not speculative and are used to manage the Company’s exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of GAAP. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings and resulted in a loss of less than $0.1 million for the three and nine months ended September 30, 2017 and 2016. As of September 30, 2017, the Company had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships ( dollars in thousands ): Number of Product Instruments Notional Interest rate caps 3 $ 271,076
Fair value of Company's derivative financial instruments and their classification on Consolidated Balance Sheet	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): Asset Derivatives Liability Derivatives (included in Other assets ) (included in Other liabilities ) Fair Value at: Fair Value at: September 30, December 31, September 30, December 31, 2017 2016 2017 2016 Derivatives designated as hedging instruments: Interest rate products $ 4,350 $ 4,359 $ — $ 413 Derivatives not designated as hedging instruments: Interest rate products $ — $ 1 $ — $ —
Effect of Company's derivative financial instruments on Consolidated Statements of Operation	The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ): Gain/(Loss) Recognized in Gain/(Loss) Reclassified Interest expense Unrealized holding gain/(loss) from Accumulated OCI into (Ineffective Portion and Recognized in OCI Interest expense Amount Excluded from (Effective Portion) (Effective Portion) Effectiveness Testing) Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 2017 2016 Three Months Ended September 30, Interest rate products $ 131 $ 1,090 $ (119) $ (914) $ — $ — Nine Months Ended September 30, Interest rate products $ 256 $ (1,684) $ (1,192) $ (2,792) $ (136) $ —
Effect of Company's derivatives not designated as hedging instruments on the Consolidated Statements of Operations	Gain/(Loss) Recognized in Interest income and other income/(expense), net Derivatives Not Designated as Hedging Instruments 2017 2016 Three Months Ended September 30, Interest rate products $ — $ (1) Nine Months Ended September 30, Interest rate products $ (1) $ (4)
Offsetting of Derivative Assets	The Company has elected not to offset derivative positions in the consolidated financial statements. The tables below present the effect on its financial position had the Company made the election to offset its derivative positions as of September 30, 2017 and December 31, 2016 (dollars in thousands): Gross Net Amounts of Gross Amounts Not Offset Amounts Assets in the Consolidated Gross Offset in the Presented in the Balance Sheet Amounts of Consolidated Consolidated Cash Recognized Balance Balance Sheets Financial Collateral Offsetting of Derivative Assets Assets Sheets (a) Instruments Received Net Amount September 30, 2017 $ 4,350 $ — $ 4,350 $ — $ — $ 4,350 December 31, 2016 $ 4,360 $ — $ 4,360 $ (221) $ — $ 4,139 (a) Amounts reconcile to the aggregate fair value of derivative assets in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote.
Offsetting of Derivative Liabilities	Gross Net Amounts of Gross Amounts Not Offset Amounts Liabilities in the Consolidated Gross Offset in the Presented in the Balance Sheet Amounts of Consolidated Consolidated Cash Recognized Balance Balance Sheets Financial Collateral Offsetting of Derivative Liabilities Liabilities Sheets (a) Instruments Posted Net Amount September 30, 2017 $ — $ — $ — $ — $ — $ — December 31, 2016 $ 413 $ — $ 413 $ (221) $ — $ 192 Amounts reconcile to the aggregate fair value of derivative liabilities in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2017
COMMITMENTS AND CONTINGENCIES
Real estate commitments	The following summarizes the Company’s real estate commitments at September 30, 2017 ( dollars in thousands ): Expected Average Number of Costs Incurred to Costs Ownership Properties Date (a) to Complete Stake Wholly-owned — under development 2 $ 534,317 (b) $ 182,183 100 % Wholly-owned — redevelopment 1 8,006 (b) 1,494 100 % Joint ventures: Unconsolidated joint ventures 5 463,682 36,263 (c) 50 % Participating loan investments 1 93,983 (d) — — % Preferred equity investments 5 80,143 (e) 58,194 (f) 48 % (g) Other investments 1 17,812 35,747 (h) — % Total $ 1,197,943 $ 313,881 (a) Represents 100% of project costs incurred as of September 30, 2017. (b) Costs incurred as of September 30, 2017 include $ 38.3 million and $ 1.5 million of accrued fixed assets for development and redevelopment, respectively. (c) Represents UDR’s proportionate share of expected remaining costs to complete the developments. (d) Represents the participating loan balance funded as of September 30, 2017. On October 5, 2017, the Company acquired the Steele Creek community for a purchase price of approximately $141.5 million (see Note 3, Real Estate Owned ). (e) Represents UDR’s investment in the West Coast Development Joint Ventures, 1532 Harrison and 1200 Broadway for the properties under development as of September 30, 2017. (f) Represents UDR’s remaining commitment for 1532 Harrison and 1200 Broadway. (g) Represents UDR’s average ownership stake in the West Coast Development Joint Ventures only and does not include UDR’s preferred equity interest in 1532 Harrison and 1200 Broadway. (h) Represents UDR’s remaining commitment for The Portals and other investment ventures.

Reportable Segment (Tables)

Reportable Segment (Tables)	9 Months Ended
	Sep. 30, 2017
REPORTABLE SEGMENTS
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations	The following table details rental income and NOI for UDR’s reportable segments for the three and nine months ended September 30, 2017 and 2016, and reconciles NOI to Net Income/(Loss) Attributable to UDR, Inc. in the Consolidated Statements of Operations (dollars in thousands) : Three Months Ended Nine Months Ended September 30, (a) September 30, (b) 2017 2016 2017 2016 Reportable apartment home segment rental income Same-Store Communities West Region $ 84,287 $ 80,975 $ 249,730 $ 238,948 Mid-Atlantic Region 57,061 55,903 157,010 152,661 Northeast Region 38,162 37,211 113,814 110,420 Southeast Region 29,297 28,150 87,103 82,989 Southwest Region 10,816 10,453 32,181 30,815 Non-Mature Communities/Other 28,641 27,563 94,355 92,547 Total segment and consolidated rental income $ 248,264 $ 240,255 $ 734,193 $ 708,380 Reportable apartment home segment NOI Same-Store Communities West Region $ 62,939 $ 61,510 $ 187,493 $ 179,473 Mid-Atlantic Region 39,479 37,958 108,965 104,150 Northeast Region 26,100 26,379 80,151 79,721 Southeast Region 20,712 18,882 60,432 56,759 Southwest Region 6,429 6,415 19,722 19,090 Non-Mature Communities/Other 19,062 19,212 64,064 62,612 Total segment and consolidated NOI 174,721 170,356 520,827 501,805 Reconciling items: Joint venture management and other fees 2,827 2,997 8,718 8,473 Property management (6,827) (6,607) (20,190) (19,480) Other operating expenses (1,950) (1,636) (6,010) (5,280) Real estate depreciation and amortization (107,171) (105,802) (320,653) (317,078) General and administrative (12,467) (11,826) (36,976) (36,505) Casualty-related (charges)/recoveries, net (2,056) (205) (3,749) (1,834) Other depreciation and amortization (1,585) (1,526) (4,760) (4,565) Income/(loss) from unconsolidated entities 1,819 15,285 11,591 16,289 Interest expense (30,095) (31,954) (94,500) (93,736) Interest income and other income/(expense), net 481 478 1,423 1,449 Tax (provision)/benefit, net (127) (94) (825) 711 Gain/(loss) on sale of real estate owned, net of tax — — 2,132 10,385 Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (1,415) (2,459) (4,607) (4,974) Net (income)/loss attributable to noncontrolling interests 35 (51) (107) (365) Net income/(loss) attributable to UDR, Inc. $ 16,190 $ 26,956 $ 52,314 $ 55,295 (a) Same-Store Community population consisted of 36,540 apartment homes. (b) Same-Store Community population consisted of 35,689 apartment homes.
Details of assets of UDR's reportable segments	The following table details the assets of UDR’s reportable segments as of September 30, 2017 and December 31, 2016 (dollars in thousands) : September 30, December 31, 2017 2016 Reportable apartment home segment assets: Same-Store Communities: West Region $ 2,964,637 $ 2,938,073 Mid-Atlantic Region 2,440,929 2,427,948 Northeast Region 1,863,595 1,857,193 Southeast Region 757,135 746,762 Southwest Region 289,123 283,260 Non-Mature Communities/Other 1,675,191 1,362,517 Total segment assets 9,990,610 9,615,753 Accumulated depreciation (3,237,588) (2,923,625) Total segment assets — net book value 6,753,022 6,692,128 Reconciling items: Cash and cash equivalents 1,788 2,112 Restricted cash 20,413 19,994 Notes receivable, net 18,594 19,790 Investment in and advances to unconsolidated joint ventures, net 839,864 827,025 Other assets 127,024 118,535 Total consolidated assets $ 7,760,705 $ 7,679,584

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Other Interest and Dividend Income	$ 0.4	$ 0.5	$ 1.4	$ 1.3
Limited partnership units owned	183,350,924		183,350,924		183,278,698
Deferred Tax Assets, Net	$ 0.2		$ 0.2		$ 0.6
UDR Lighthouse DownREIT L.P. [Member]
Operating Partnership outstanding units	32,367,380		32,367,380
United Dominion Reality L.P. [Member]
Limited partnership units owned	183,240,041		183,240,041		183,167,815
Operating Partnership outstanding units	183,350,924		183,350,924
United Dominion Reality L.P. [Member]
Operating Partnership outstanding units	183,350,924		183,350,924
United Dominion Reality L.P. [Member] | UDR Lighthouse DownREIT L.P. [Member]
Operating Partnership outstanding units	13,470,651		13,470,651
Percentage of units outstanding in Heritage OP	41.60%		41.60%
Limited Partner | UDR Lighthouse DownREIT L.P. [Member]
Operating Partnership outstanding units	15,687,752		15,687,752
Percentage of units outstanding in Heritage OP	48.50%		48.50%
Limited Partner | United Dominion Reality L.P. [Member]
Limited partnership units owned	174,237,688		174,237,688
General Partners Capital Account Units Owned Percentage	95.00%		95.00%
General Partner | UDR Lighthouse DownREIT L.P. [Member]
Operating Partnership outstanding units	16,679,628		16,679,628
General Partners Capital Account Units Owned Percentage	51.50%		51.50%
Non-affiliated Partners
Limited partnership units owned	7,361,565		7,361,565		7,296,943
Non-affiliated Partners | United Dominion Reality L.P. [Member]
Limited partnership units owned	9,113,236		9,113,236		9,048,614
Percentage of units outstanding in Heritage OP	5.00%		5.00%		4.90%

Significant Accounting Polici35

Significant Accounting Policies (Details) - USD ($) $ in Thousands	Jan. 01, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Aug. 31, 2017	Dec. 31, 2016
Accounting Policies [Line Items]
Notes receivable, net		$ 18,594		$ 18,594			$ 19,790
Significant Accounting Policies (Textual) [Abstract]
Distributions received from unconsolidated entities				65,053	$ 32,472
Note receivable interest income		400	$ 500	1,400	1,300
Comprehensive (loss)/income attributable to non-controlling interests				142
Current Income Tax Expense (Benefit)				0
Deferred Tax Assets, Net		$ 200		200			600
Interest Income, Related Party				$ 0
Note Due February 2020 [Member]
Accounting Policies [Line Items]
Note receivable interest rate		10.00%		10.00%
Notes receivable, net		$ 12,994		$ 12,994			12,994
Significant Accounting Policies (Textual) [Abstract]
Notes receivable		13,000		13,000
Note maturity public capital threshold				5,000
Note Due July 2017 [Member]
Accounting Policies [Line Items]
Notes receivable, net							2,500
Significant Accounting Policies (Textual) [Abstract]
Notes receivable		$ 2,500		$ 2,500
Note due October 2020 [Member]
Accounting Policies [Line Items]
Note receivable interest rate		8.00%		8.00%
Notes receivable, net		$ 2,000		$ 2,000			1,296
Significant Accounting Policies (Textual) [Abstract]
Notes receivable		$ 2,000		2,000
Additional amount loaned				700
Note maturity public capital threshold				$ 10,000
Note Due August 2022 [Member]
Accounting Policies [Line Items]
Note receivable interest rate		10.00%		10.00%
Notes receivable, net		$ 3,600		$ 3,600			$ 3,000
Significant Accounting Policies (Textual) [Abstract]
Notes receivable		10,000		10,000		$ 15,000
Additional amount loaned				600
Note maturity public capital threshold				25,000
Redeemable Noncontrolling Interest [Member]
Significant Accounting Policies (Textual) [Abstract]
Comprehensive (loss)/income attributable to non-controlling interests		$ 100	$ 200	$ 100	$ (400)
Distributions in Excess of Net Income [Member] | ASU 2016-09
Significant Accounting Policies (Textual) [Abstract]
Distributions received from unconsolidated entities	$ 600

Real Estate Owned - Summarizes

Real Estate Owned - Summarizes the carrying amounts for our real estate owned (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Land	$ 1,788,391	$ 1,801,576
Land Improvements	186,736	178,701
Depreciable property - held and used:
Building, Improvements, and Furniture, Fixtures and Equipment	7,481,166	7,291,570
Under development:
Real estate under development	532,580	342,282
Real estate owned	9,990,610	9,615,753
Accumulated depreciation	(3,237,588)	(2,923,625)
Real estate owned, net	6,753,022	6,692,128
Land
Under development:
Real estate under development	111,028	111,028
Real estate held for disposition		1,104
Construction in progress
Under development:
Real estate under development	$ 423,289	231,254
Building and improvements
Under development:
Real estate held for disposition		$ 520

Real Estate Owned - Acquisition

Real Estate Owned - Acquisitions and Dispositions (Details) $ in Thousands	Oct. 05, 2017USD ($)item	Sep. 30, 2017USD ($)statecommunityitem	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)statecommunityitem	Sep. 30, 2016USD ($)
Real Estate Properties [Line Items]
Increase in real estate owned		$ 97,000		$ 97,000
Investment in unconsolidated joint ventures				$ 102,170	$ 29,832
Real Estate Owned (Textual) [Abstract]
Number of states in which there are owned and consolidated communities | state		10		10
Number of apartment homes owned and consolidated by the Company | item		39,906		39,906
Number of Real Estate Properties | community		128		128
Development costs excluding direct costs and capitalized interest		$ 2,200	$ 1,000	$ 6,600	5,700
Interest capitalized during period		4,600	$ 4,100	14,000	12,100
Proceeds from sale of land				3,500
Payments for (Proceeds from) Investments				3,300
Gain/(loss) on sale of real estate owned, net of tax				$ 2,132	$ 10,385
CityLine [Member]
Real Estate Properties [Line Items]
Number of Apartment Homes Acquired | item				244
Increase in in-place intangibles		$ 1,700		$ 1,700
Investment in unconsolidated joint ventures				66,000
CityLine [Member] | Income (Loss) From Unconsolidated Entities [Member]
Real Estate Properties [Line Items]
Property, Plant and Equipment, Additions				$ 12,200
Participating Loan Investment Steele Creek Denver Colorado [Member]
Real Estate Properties [Line Items]
Number of Apartment Homes Acquired | item	218
Amount of retail square feet | item	17,000
Payment to acquire real estate	$ 141,500
UDR commitment	$ 93,500
Contingent interest percentage	50.00%
Contingent interest amount received	$ 14,900
Gain on consolidation	$ 14,800
Subsequent Investment [Member] | CityLine [Member]
Real Estate Properties [Line Items]
Equity Method Investment, Ownership Percentage		100.00%		100.00%
Initial Investment [Member] | CityLine [Member]
Real Estate Properties [Line Items]
Equity Method Investment, Ownership Percentage		49.00%		49.00%

Joint Ventures and Partnershi38

Joint Ventures and Partnerships - Summary (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)communityitem	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)communityitem	Sep. 30, 2016USD ($)	Oct. 05, 2017USD ($)	Aug. 31, 2017item	May 31, 2017	Mar. 31, 2017	Jan. 31, 2017	Dec. 31, 2016USD ($)	May 31, 2015community
Financial information relating to unconsolidated joint ventures operations
Income (Loss) from Equity Method Investments, Total	$ 1,819	$ 15,285	$ 11,591	$ 16,289
Combined summary of balance sheets relating to unconsolidated joint ventures
Investment in unconsolidated entities	839,864		839,864							$ 827,025
Deferred gains on the sale of depreciable property	$ 10,700		$ 10,700							9,500
Number of Real Estate Properties | community	128		128
Investment in and advances to unconsolidated joint ventures, net	$ 839,864		$ 839,864							827,025
Unconsolidated Joint Ventures [Member]
Financial information relating to unconsolidated joint ventures operations
Total revenues	63,865	60,366	183,564	173,556
Equity Method Investment Summarized Financial Information Property Operating Expense	(24,686)	(16,309)	(69,356)	(62,703)
Equity Method Investment Summarized Financial Information Depreciation Amortization	(25,595)	(21,260)	(73,712)	(61,973)
Income (Loss) from Equity Method Investments, Total	13,584	22,797	40,496	48,880
Equity Method Investment Summarized Financial Information Interest expense	(19,055)	(17,176)	(55,695)	(50,360)
Equity Method Investment, Summarized Financial Information, Other Income (Expense)		(10)		(14)
Equity Method Investment Summarized Financial Information, Gain/(loss) on sale of real estate		10,262		10,262
Net income /(loss)	(5,471)	15,873	(15,199)	8,768
Combined summary of balance sheets relating to unconsolidated joint ventures
Total real estate, net	2,925,111		2,925,111							2,901,067
Equity Method Investment Summarized Financial Information Cash and cash equivalents	37,794		37,794							32,503
Equity Method Investment Summarized Financial Information Other assets	17,960		17,960							19,047
Equity Method Investment, Summarized Financial Information, Assets, Total	2,980,865		2,980,865							2,952,617
Amount due to UDR	2,059		2,059							521
Third party debt	1,857,796		1,857,796							1,794,379
Equity Method Investment Summarized Financial Information Accounts payable and accrued liabilities	68,042		68,042							66,931
Equity Method Investment, Summarized Financial Information, Liabilities, Total	1,927,897		1,927,897							1,861,831
Total equity	1,052,968		1,052,968							1,091,326
Investment in unconsolidated entities	$ 567,512		$ 567,512							582,719
Participating Loan Investment Steele Creek Denver Colorado [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
UDR commitment					$ 93,500
Preferred Equity Investment West Coast Development JV [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Equity Method Investment, Ownership Percentage							49.00%	49.00%	49.00%		48.00%
Number of apartment homes | item						211
Number of Real Estate Properties | community											5
Participating Loan, Interest Rate, Stated Percentage	6.50%		6.50%
Preferred Equity Investment 1200 Broadway Nashville TN [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Investment in unconsolidated entities	$ 12,900		$ 12,900
Number of apartment homes | item	313		313
Participating Loan, Interest Rate, Stated Percentage	8.00%		8.00%
Development Community [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Investment in unconsolidated entities	$ 272,352		$ 272,352							244,306
Development Community [Member] | Unconsolidated Joint Venture UDR Met Life I Partnership [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Investment in unconsolidated entities	$ 34,404		$ 34,404							$ 25,209
Equity Method Investment, Ownership Percentage	50.00%		50.00%							50.00%
Number of apartment homes | community	150		150
Number of Real Estate Properties | community	1		1
Development Community [Member] | Unconsolidated Joint Venture Other MetLife [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Number of Real Estate Properties | community	3		3
Development Community [Member] | Unconsolidated Joint Venture Vitruvian Park [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Number of Real Estate Properties | community	1		1
Development Community [Member] | Participating Loan Investment Steele Creek Denver Colorado [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
UDR commitment	$ 93,458		$ 93,458
Investment in unconsolidated entities	93,983		93,983							$ 94,003
Income from Participating Loan	$ 1,567	1,567	$ 4,650	4,646
Participating Loan, Interest Rate, Stated Percentage	6.50%		6.50%
Participating Loan Years to Maturity			3 months 18 days
Development Community [Member] | Preferred Equity Investment West Coast Development JV [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Investment in unconsolidated entities	$ 138,548		$ 138,548							150,303
Income from Participating Loan	$ 3,355	$ 1,476	$ 16,894	$ 4,674
Participating Loan, Interest Rate, Stated Percentage	6.50%		6.50%
Development Community [Member] | Preferred Equity Investment 1532 Harrison San Francisco, CA [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
UDR commitment	$ 24,645		$ 24,645
Investment in unconsolidated entities	9,115		9,115
Income from Participating Loan	$ 226		$ 228
Participating Loan, Interest Rate, Stated Percentage	11.00%		11.00%
Participating Loan Years to Maturity			5 years
Development Community [Member] | Preferred Equity Investment 1200 Broadway Nashville TN [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
UDR commitment	$ 55,558		$ 55,558
Investment in unconsolidated entities	12,894		12,894
Income from Participating Loan	$ 65		$ 65
Participating Loan, Interest Rate, Stated Percentage	8.00%		8.00%
Development Community [Member] | Other Investment The Portals Washington, DC [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
UDR commitment	$ 38,559		$ 38,559
Investment in unconsolidated entities	17,048		17,048
Income from Participating Loan	$ 330		$ 346
Participating Loan, Interest Rate, Stated Percentage	11.00%		11.00%
Participating Loan Years to Maturity			4 years
Development Community [Member] | Other Investment Ventures [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
UDR commitment	$ 15,000		$ 15,000
Investment in unconsolidated entities	764		764
Operating Community [Member] | Unconsolidated Joint Venture UDR MetLife II Partnership [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Investment in unconsolidated entities	$ 307,410		$ 307,410							$ 311,282
Equity Method Investment, Ownership Percentage	50.00%		50.00%							50.00%
Number of apartment homes | community	4,059		4,059
Number of Real Estate Properties | community	18		18
Operating Community [Member] | Unconsolidated Joint Venture Other MetLife [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Investment in unconsolidated entities	$ 140,160		$ 140,160							$ 160,979
Equity Method Investment, Ownership Percentage	50.60%		50.60%							50.60%
Number of apartment homes | community	1,437		1,437
Number of Real Estate Properties | community	2		2
Operating Community [Member] | Unconsolidated Joint Venture Vitruvian Park [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Investment in unconsolidated entities	$ 75,608		$ 75,608							$ 72,414
Equity Method Investment, Ownership Percentage	50.00%		50.00%							50.00%
Number of apartment homes | community	1,513		1,513
Number of Real Estate Properties | community	3		3
Operating Community [Member] | Unconsolidated Joint Venture Three Washington DC [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Investment in unconsolidated entities	$ 9,930		$ 9,930							$ 12,835
Equity Method Investment, Ownership Percentage	30.00%		30.00%							30.00%
Number of apartment homes | community	660		660
Number of Real Estate Properties | community	3		3
Land Parcel [Member] | Unconsolidated Joint Venture Vitruvian Park [Member]
Combined summary of balance sheets relating to unconsolidated joint ventures
Number of Real Estate Properties | community	5		5

Joint Ventures and Partnershi39

Joint Ventures and Partnerships - Commitments (Details) $ in Thousands	Oct. 05, 2017USD ($)item	Aug. 31, 2017USD ($)communityitem	May 31, 2017USD ($)loancommunityitem	Mar. 31, 2017USD ($)item	Jan. 31, 2017USD ($)communityitem	Sep. 30, 2017USD ($)communityitem	May 31, 2017USD ($)loanitem	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)communityitem	Sep. 30, 2016USD ($)	Oct. 31, 2017USD ($)	Jun. 30, 2017USD ($)item	Dec. 31, 2016USD ($)	May 31, 2015USD ($)community
Schedule of Equity Method Investments [Line Items]
Casualty-related charges/(recoveries), net						$ 2,056		$ 205	$ 3,749	$ 1,834
Proceeds from Sale of Property, Plant, and Equipment									3,500
Gain/(loss) on sale of real estate owned									$ 2,132	10,385
Number of Real Estate Properties | community						128			128
Long-term Debt						$ 3,679,011			$ 3,679,011				$ 3,401,478
Community Threshold, Period Above Occupancy Threshold									3 months
Secured Debt						804,977			$ 804,977				1,130,858
Joint Ventures
Real Estate Owned Gross						9,990,610			9,990,610				9,615,753
Second installment of payable incurred in partial consideration for acquisition of ownership interest in joint venture						333,670			333,670
Interest expense						(30,095)		(31,954)	(94,500)	(93,736)
Investment in unconsolidated entities						839,864			839,864				827,025
Deferred fees from the sale of properties						10,700			10,700				$ 9,500
Investment in unconsolidated joint ventures									$ 102,170	29,832
Condition for Community considered to have stabilized occupancy									90%
Management fees for our involvement in the joint ventures						$ 2,800		$ 3,000	$ 8,700	8,400
717 Olympic [Member]
Schedule of Equity Method Investments [Line Items]
Casualty-related charges/(recoveries), net									$ (900)	$ (3,500)
Unconsolidated Joint Venture Vitruvian Park [Member]
Schedule of Equity Method Investments [Line Items]
Number of apartments of development community | item						0			0
Unconsolidated Joint Venture UDR Met Life I Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Number of apartments of development community | item						0			0
Unconsolidated Joint Venture Other MetLife [Member]
Schedule of Equity Method Investments [Line Items]
Number of apartments of development community | item						726			726
Participating Loan Investment Steele Creek Denver Colorado [Member]
Joint Ventures
Payment to acquire real estate	$ 141,500
Gain on consolidation	$ 14,800
Number of Apartment Homes Acquired | item	218
Preferred Equity Investment West Coast Development JV [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment Cost of Ownership Interest			$ 16,100	$ 15,500			$ 16,100							$ 136,300
Number of Real Estate Properties | community														5
Total Fixed Price Option Sales Price			$ 72,300	$ 61,300					$ 597,400
Number of apartment homes | item		211
Preferred return (as a percent)						6.50%			6.50%
Community Threshold, Period Above Occupancy Threshold									90 days
Joint Ventures
Equity Method Investment, Ownership Percentage			49.00%	49.00%	49.00%		49.00%							48.00%
Investment in unconsolidated joint ventures					$ 66,000
Sale price		$ 101,300									$ 148,000
Number of joint ventures ageements entered into | item							2
Number of remaining communities sold | community		1
Number of Completed Communities | community					5	2			2
Number of Remaining Communities | community		4				3			3
Number of Stabilized Communities | community						1			1
Condition for Community considered to have stabilized occupancy									80%
Hold Period									1 year
Number of Communities Acquired | community					1
Number of Apartment Homes Acquired			276	155	244
Preferred Equity Investment West Coast Development JV [Member] | Income (Loss) From Unconsolidated Entities [Member]
Joint Ventures
Gain on sale		$ 2,400
Gain on consolidation					$ 12,200
Preferred Equity Investment San Franciso California JV [Member]
Schedule of Equity Method Investments [Line Items]
Number of apartment homes | item												136
Equity Investment												$ 24,600
Preferred return (as a percent)												11.00%
Joint Ventures
Investment in unconsolidated entities												$ 9,100
Third Party Developer in Washington D.C [Member]
Schedule of Equity Method Investments [Line Items]
Number of apartments of development community | item			373				373
Equity Investment			$ 38,600				$ 38,600
Long-term Debt			$ 71,000				$ 71,000
Interest rate of medium-term notes			13.50%				13.50%
Debt instrument term			4 years
Number of extensions available | loan			1				1
Loan extension term			12 months
Equity Method Investment, Summarized Financial Information, Liabilities						$ 17,000			$ 17,000
Debt, Weighted Average Interest Rate, of Company's Committed Portion			11				11
Preferred Equity Investment 1200 Broadway Nashville TN [Member]
Schedule of Equity Method Investments [Line Items]
Number of apartment homes | item						313			313
Equity Investment						$ 55,600			$ 55,600
Preferred return (as a percent)						8.00%			8.00%
Joint Ventures
Investment in unconsolidated entities						$ 12,900			$ 12,900
Subsequent Investment [Member] | Preferred Equity Investment West Coast Development JV [Member]
Joint Ventures
Equity Method Investment, Ownership Percentage					100.00%

Secured and Unsecured Debt - Su

Secured and Unsecured Debt - Summary (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017USD ($)communityitem	Sep. 30, 2017USD ($)item	Dec. 31, 2016USD ($)
Secured debt instruments
Interest rate at end of the period	3.65%
Long-term Debt	$ 3,679,011	$ 3,679,011	$ 3,401,478
Unsecured Debt	$ 2,874,034	2,874,034	2,270,620
Weighted Average Years to Maturity	4 years 9 months 18 days
Line of Credit Facility, Amount Outstanding	$ 3,300	$ 3,300	2,900
Number of secured credit facilities with Fannie Mae | item	2	2
Commercial Paper
Secured debt instruments
Interest rate at end of the period	1.45%	1.40%
Weighted Average Years to Maturity	1 month 6 days
Borrowings outstanding at end of period	$ 285,000	$ 285,000
Mortgages Notes Payable [Member] | Fixed Rate Debt
Secured debt instruments
Principal outstanding	$ 397,482	397,482	402,996
Interest rate at end of the period	4.04%
Weighted Average Years to Maturity	5 years 7 months 6 days
Number of Communities Encumbered | community	7
Tax-exempt secured notes payable | Variable Rate Debt
Secured debt instruments
Principal outstanding	$ 94,700	94,700	94,700
Interest rate at end of the period	1.59%
Weighted Average Years to Maturity	5 years 4 months 24 days
Number of Communities Encumbered | community	2
Fannie Mae credit facilities | Fixed Rate Debt
Secured debt instruments
Principal outstanding	$ 285,836	$ 285,836	355,836
Interest rate at end of the period	4.86%	4.86%
Weighted Average Years to Maturity	2 years 3 months 18 days
Number of Communities Encumbered | community	8
Fannie Mae credit facilities | Variable Rate Debt
Secured debt instruments
Principal outstanding	$ 29,034	$ 29,034	280,946
Interest rate at end of the period	2.78%	2.78%
Weighted Average Years to Maturity	1 year 2 months 12 days
Number of Communities Encumbered | community	1
Secured Debt [Member]
Secured debt instruments
Principal outstanding	$ 804,977	$ 804,977	1,130,858
Interest rate at end of the period	4.00%
Long-term Debt	$ 804,977	804,977
Weighted Average Years to Maturity	4 years 2 months 12 days
Number of Communities Encumbered | community	18
Secured Debt [Member] | Fixed Rate Debt
Secured debt instruments
Principal outstanding	$ 681,516	681,516	756,151
Interest rate at end of the period	4.39%
Long-term Debt	$ 681,516	681,516
Weighted Average Years to Maturity	4 years 2 months 12 days
Number of Communities Encumbered | community	15
Deferred Finance Costs, Net	$ (1,802)	(1,802)	(2,681)
Secured Debt [Member] | Variable Rate Debt
Secured debt instruments
Principal outstanding	$ 123,461	123,461	374,707
Interest rate at end of the period	1.87%
Long-term Debt	$ 123,461	123,461
Weighted Average Years to Maturity	4 years 4 months 24 days
Number of Communities Encumbered | community	3
Deferred Finance Costs, Net	$ (273)	(273)	(939)
Unsecured Revolving credit facility due 2020 [Member]
Secured debt instruments
Weighted Average Years to Maturity	2 years 3 months 18 days
Unsecured Working Capital Credit Facility due January 2019 [Member]
Secured debt instruments
Interest rate at end of the period	2.13%
Weighted Average Years to Maturity	1 year 3 months 18 days
Line of Credit Facility, Amount Outstanding	$ 40,717	40,717	21,350
2.00% Term Loan Facility due January 2021 [Member]
Secured debt instruments
Interest rate at end of the period	2.19%
Senior Notes	$ 35,000	35,000	35,000
Weighted Average Years to Maturity	3 years 3 months 18 days
4.25% Medium-Term Notes due June 2018
Secured debt instruments
Unamortized discount	$ 287	287	608
Interest rate at end of the period	4.25%
Senior Notes	$ 299,713	299,713	299,392
Weighted Average Years to Maturity	8 months 12 days
3.70% Term Notes Due October 2020 [Member]
Secured debt instruments
Unamortized discount	$ 24	24	30
Interest rate at end of the period	3.70%
Senior Notes	$ 299,976	299,976	299,970
Weighted Average Years to Maturity	3 years
1.98% Term Loan Facility Due January 2021 [Member]
Secured debt instruments
Interest rate at end of the period	1.98%
Senior Notes	$ 315,000	315,000	315,000
Weighted Average Years to Maturity	3 years 3 months 18 days
4.63% Medium-Term Notes due January 2022
Secured debt instruments
Unamortized discount	$ 1,536	1,536	1,805
Interest rate at end of the period	4.63%
Senior Notes	$ 398,464	398,464	398,195
Weighted Average Years to Maturity	4 years 3 months 18 days
3.75 Medium-Term Notes Due July 2024 [Member]
Secured debt instruments
Unamortized discount	$ 704	704	782
Interest rate at end of the period	3.75%
Senior Notes	$ 299,296	299,296	299,218
Weighted Average Years to Maturity	6 years 9 months 18 days
8.50% Debentures, Due September 2024 [Member]
Secured debt instruments
Interest rate at end of the period	8.50%
Senior Notes	$ 15,644	15,644	15,644
Weighted Average Years to Maturity	7 years
4.00% Medium-Term Note due October 2025 [Member]
Secured debt instruments
Unamortized discount	$ 551	551	602
Interest rate at end of the period	4.00%
Senior Notes	$ 299,449	299,449	299,398
Weighted Average Years to Maturity	8 years
2.95% Medium-Term Note due September 2026 [Member]
Secured debt instruments
Interest rate at end of the period	2.95%
Senior Notes	$ 300,000	300,000	300,000
Weighted Average Years to Maturity	8 years 10 months 24 days
3.50 Medium-Term Note due July 2027 [Member]
Secured debt instruments
Unamortized discount	$ 687	687
Interest rate at end of the period	3.50%
Senior Notes	$ 299,313	299,313
Weighted Average Years to Maturity	9 years 9 months 18 days
Other [Member]
Secured debt instruments
Senior Notes	$ 19	19	21
Unsecured Debt [Member]
Secured debt instruments
Interest rate at end of the period	3.45%
Long-term Debt	$ 2,874,034	2,874,034
Unsecured Debt	$ 2,874,034	2,874,034	2,270,620
Weighted Average Years to Maturity	4 years 10 months 24 days
Deferred Finance Costs, Net	$ (13,557)	$ (13,557)	$ (12,568)

Secured and Unsecured Debt - Va

Secured and Unsecured Debt - Variable Rate Debt (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Unamortized net premium	$ 9,000	$ 11,200
Secured credit facilities
Long-term Line of Credit	3,300	2,900
Fannie Mae
Secured credit facilities
Long-term Line of Credit	314,870	636,782
Weighted average daily borrowings during the period ended	450,581	737,802
Maximum daily borrowings during the period ended	$ 636,782	$ 813,544
Weighted average interest rate during the period ended	4.20%	3.90%
Interest rate at the end of the period	4.70%	3.80%

Secured and Unsecured Debt - Cr

Secured and Unsecured Debt - Credit Facilities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Summary of short-term bank borrowings under unsecured commercial bank credit facility
Borrowings outstanding at end of period	$ 3,300	$ 2,900
Unsecured Commercial Bank Credit Facility
Summary of short-term bank borrowings under unsecured commercial bank credit facility
Total revolving credit facility	2,000,000
Revolving Credit Facility [Member] | Unsecured Commercial Bank Credit Facility
Summary of short-term bank borrowings under unsecured commercial bank credit facility
Total revolving credit facility	1,100,000	1,100,000
Weighted average daily borrowings during the period ended	3,040	161,505
Maximum daily borrowings during the period ended	$ 120,000	$ 340,000
Weighted average interest rate during the period ended	1.60%	1.40%
Unsecured Working Capital Credit Facility due January 2019 [Member]
Summary of short-term bank borrowings under unsecured commercial bank credit facility
Total revolving credit facility	$ 75,000	$ 75,000
Borrowings outstanding at end of period	40,717	21,350
Weighted average daily borrowings during the period ended	26,258	21,936
Maximum daily borrowings during the period ended	$ 67,799	$ 69,633
Weighted average interest rate during the period ended	1.90%	1.40%
Interest rate at the end of the period	2.10%	1.70%

Secured and Unsecured Debt - Sh

Secured and Unsecured Debt - Short Term Debt (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)
Short-term Debt [Line Items]
Interest rate at end of the period	3.65%
Commercial Paper
Short-term Debt [Line Items]
Total unsecured commercial paper program	$ 500,000	$ 500,000
Borrowings outstanding at end of period	$ 285,000	285,000
Weighted average daily borrowings during the period ended		216,174
Maximum daily borrowings during the period ended		$ 340,000
Weighted average interest rate during the period ended	1.40%	1.40%
Interest rate at end of the period	1.45%	1.40%

Secured and Unsecured Debt - Un

Secured and Unsecured Debt - Unsecured Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Aggregate maturities of unsecured debt
2,017	$ 286,133
2,018	333,670
2,019	357,812
2,020	498,076
2,021	351,117
2,022	401,157
2,023	41,245
2,024	315,644
2,025	427,600
2,026	350,000
Thereafter	327,000
Subtotal	3,689,454
Non-cash (a)	(10,443)
Long-term Debt, Total	3,679,011	$ 3,401,478
Secured Debt [Member]
Aggregate maturities of unsecured debt
2,017	1,133
2,018	33,670
2,019	317,095
2,020	198,076
2,021	1,117
2,022	1,157
2,023	41,245
2,025	127,600
2,026	50,000
Thereafter	27,000
Subtotal	798,093
Non-cash (a)	6,884
Long-term Debt, Total	804,977
Unsecured Debt [Member]
Aggregate maturities of unsecured debt
2,017	285,000
2,018	300,000
2,019	40,717
2,020	300,000
2,021	350,000
2,022	400,000
2,024	315,644
2,025	300,000
2,026	300,000
Thereafter	300,000
Subtotal	2,891,361
Non-cash (a)	(17,327)
Long-term Debt, Total	2,874,034
Fixed Rate Debt | Secured Debt [Member]
Aggregate maturities of unsecured debt
2,017	1,133
2,018	4,636
2,019	249,395
2,020	198,076
2,021	1,117
2,022	1,157
2,023	41,245
2,025	127,600
2,026	50,000
Subtotal	674,359
Non-cash (a)	7,157
Long-term Debt, Total	681,516
Variable Rate Debt | Secured Debt [Member]
Aggregate maturities of unsecured debt
2,018	29,034
2,019	67,700
Thereafter	27,000
Subtotal	123,734
Non-cash (a)	(273)
Long-term Debt, Total	$ 123,461

Secured and Unsecured Debt - De

Secured and Unsecured Debt - Debt Covenants (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)loan	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)loan	Sep. 30, 2016USD ($)	Jun. 16, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Amortization of Financing Costs		$ 1,000	$ 3,200	$ 3,500
Secured Debt (Textual) [Abstract]
Secured debt amount which encumbers real estate owned based upon book value	$ 1,700,000		$ 1,700,000
Percentage of secured debt which encumbers real estate owned based upon book value	16.80%		16.80%
Secured debt amount of real estate owned which is unencumbered	$ 8,300,000		$ 8,300,000
Percentage of secured debt of real estate owned which is unencumbered	83.20%		83.20%
Long-term Commercial Paper	$ 500,000		$ 500,000
Secured Debt	804,977		804,977			$ 1,130,858
Repayments of Secured Debt			325,212	352,814
Interest expense
Secured Debt (Textual) [Abstract]
Prepayment costs	$ 0		5,800
Variable Rate Debt
Secured Debt (Textual) [Abstract]
Repayments of Secured Debt			$ 275,300
Unsecured Debt [Member]
Secured Debt (Textual) [Abstract]
Line of Credit Facility, Interest Rate Description			95
Line of Credit Facility, Description Range Low	90		90
Line of Credit Facility, Description Range High	175		175
Unsecured Working Capital Credit Facility due January 2019 [Member]
Secured Debt (Textual) [Abstract]
Credit facilities with aggregate commitment	$ 75,000		$ 75,000			75,000
3.75 Medium-Term Notes Due July 2024 [Member]
Secured Debt (Textual) [Abstract]
Senior Notes	299,296		299,296			299,218
Debt Assumed As Part of Acquisition [Member]
Secured Debt (Textual) [Abstract]
Amortization of Debt Discount (Premium)	$ 700	$ 600	$ 2,200	$ 2,100
Tax-exempt secured notes payable | Fixed Rate Debt
Secured Debt (Textual) [Abstract]
Debt Instrument, Maturity Date Range, Start			Aug. 1, 2019
Debt instrument, maturity date range, end			Mar. 1, 2032
Fannie Mae credit facilities | Fixed Rate Debt
Secured Debt (Textual) [Abstract]
Debt Instrument, Maturity Date Range, Start			Dec. 1, 2018
Debt instrument, maturity date range, end			Jul. 1, 2020
Tax-exempt secured notes payable | Variable Rate Debt | Maximum
Secured Debt (Textual) [Abstract]
Notes payable maximum interest rates range	1.60%		1.60%
Tax-exempt secured notes payable | Variable Rate Debt | Minimum
Secured Debt (Textual) [Abstract]
Notes payable maximum interest rates range	1.59%		1.59%
Revolving Credit Facility [Member]
Secured Debt (Textual) [Abstract]
Line of Credit Facility, Interest Rate Description			90
Line of Credit Facility, Description Range Low	85		85
Line of Credit Facility, Description Range High	155		155
Line of Credit Facility, Commitment Fee Description Range Low	12.5		12.5
Line of Credit Facility, Commitment Fee Description Range High	30		30
Line of Credit Facility, Commitment Fee Description			15
4.00% Medium-Term Note due October 2025 [Member]
Secured Debt (Textual) [Abstract]
Portion of Medium Term Note subject to Interest Rate Swaps	$ 200,000		$ 200,000
Long-term Debt, Weighted Average Interest Rate	4.55%		4.55%
Senior Notes	$ 299,449		$ 299,449			299,398
3.50% senior Unsecured Medium Term Note [Member]
Secured Debt (Textual) [Abstract]
Medium-term notes					$ 300
Interest rate of medium-term notes					3.50%
Percentage of principal amount at issuance					99.764
2.95% Medium-Term Note due September 2026 [Member]
Secured Debt (Textual) [Abstract]
Senior Notes	300,000		300,000			300,000
Unsecured Commercial Bank Credit Facility
Secured Debt (Textual) [Abstract]
Credit facilities with aggregate commitment	$ 2,000,000		$ 2,000,000
Number of Extensions of loan | loan	2		2
Extension period of option on loan			6 months
Debt Instrument, Maturity Date			Jan. 31, 2020
Unsecured Commercial Bank Credit Facility | Unsecured Debt [Member]
Secured Debt (Textual) [Abstract]
Credit facilities with aggregate commitment	$ 350,000		$ 350,000
Debt Instrument, Maturity Date			Jan. 29, 2021
Unsecured Commercial Bank Credit Facility | Revolving Credit Facility [Member]
Secured Debt (Textual) [Abstract]
Credit facilities with aggregate commitment	1,100,000		$ 1,100,000			1,100,000
Unsecured Working Capital Credit Facility due January 2019 [Member]
Secured Debt (Textual) [Abstract]
Credit facilities with aggregate commitment	$ 75,000		$ 75,000			$ 75,000
Line of Credit Facility, Interest Rate Description			90
Line of Credit Facility, Description Range Low	85		85
Line of Credit Facility, Description Range High	155		155
Mortgages Notes Payable [Member] | Fixed Rate Debt
Secured Debt (Textual) [Abstract]
Debt Instrument, Maturity Date Range, Start			May 1, 2019
Debt instrument, maturity date range, end			Nov. 5, 2026
Mortgages Notes Payable [Member] | Fixed Rate Debt | Maximum
Secured Debt (Textual) [Abstract]
Notes payable maximum interest rates range	5.86%		5.86%
Mortgages Notes Payable [Member] | Fixed Rate Debt | Minimum
Secured Debt (Textual) [Abstract]
Notes payable maximum interest rates range	3.15%		3.15%

Income_(Loss) Per Share (Detail

Income/(Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Income/(loss) from continuing operations	$ 17,570	$ 29,466	$ 54,896	$ 50,249
Gain/(loss) on sale of real estate owned, net of tax			2,132	10,385
Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership	(1,415)	(2,459)	(4,607)	(4,974)
Net (income)/loss attributable to noncontrolling interests	35	(51)	(107)	(365)
Net income/(loss) attributable to UDR, Inc.	16,190	26,956	52,314	55,295
Distributions to preferred stockholders — Series E (Convertible)	(926)	(929)	(2,784)	(2,787)
Net income/(loss) attributable to common stockholders	$ 15,264	$ 26,027	$ 49,530	$ 52,508
Denominator for earnings per share - basic and diluted:
Weighted average common shares outstanding	267,577	267,081	267,492	265,854
Non-vested restricted stock awards	(521)	(780)	(552)	(841)
Denominator for basic income/(loss) per share	267,056	266,301	266,940	265,013
Incremental shares issuable from assumed conversion of stock options, unvested LTIP Units and unvested restricted stock	2,006	2,004	1,911	1,912
Denominator for diluted income/(loss) per share	269,062	268,305	268,851	266,925
Income/(loss) per weighted average common share - basic	$ 0.06	$ 0.10	$ 0.19	$ 0.20
Income/(loss) per weighted average common share - diluted	$ 0.06	$ 0.10	$ 0.18	$ 0.20
OP Units [Member]
Denominator for earnings per share - basic and diluted:
Antidilutive securities	24,822	25,168	24,882	25,183
Preferred Stock
Denominator for earnings per share - basic and diluted:
Antidilutive securities	3,016	3,028	3,024	3,028
Stock options and unvested restricted stock [Member]
Denominator for earnings per share - basic and diluted:
Antidilutive securities	2,006	2,004	1,911	1,912

Noncontrolling Interests (Detai

Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Redeemable noncontrolling interests in the Operating Partnership
Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership, beginning for year			$ 909,482
Mark-to-market adjustment to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership			57,738
Conversion of OP Units/DownREIT Units to Common Stock			(7,437)
Net income/(loss) attributable to redeemable non-controlling interests in Operating Partnership	$ 1,415	$ 2,459	4,607	$ 4,974
Distributions to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership			(23,667)
Vesting of Long-Term Incentive Plan Units			2,317
Allocation of other comprehensive income/(loss)			142
Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership, end of the year	943,182		943,182
Net income/(loss) attributable to noncontrolling interests		$ (100)	$ (98)	$ (400)
Maximum
Redeemable noncontrolling interests in the Operating Partnership
Net income/(loss) attributable to noncontrolling interests	$ 100
LTIP Units | Minimum
Redeemable noncontrolling interests in the Operating Partnership
Vesting period			1 year
LTIP Units | Maximum
Redeemable noncontrolling interests in the Operating Partnership
Vesting period			3 years

Fair Value of Derivatives and48

Fair Value of Derivatives and Financial Instruments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes receivable, net	$ 18,594	$ 19,790
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Derivative Asset	4,350	4,360
Derivative Liability		413
Secured debt instruments - variable rate
Long-term Line of Credit	3,300	2,900
Unsecured debt instruments
Redeemable Noncontrolling Interest, Equity, Carrying Amount	943,182	909,482
Redeemable noncontrolling interests in the Operating Partnership (d)	943,182	909,482
Transfer between the levels	0
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes receivable, net	18,594	19,790
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Total assets	22,944	24,150
Unsecured debt instruments
Total liabilities	3,694,643	3,418,079
Redeemable noncontrolling interests in the Operating Partnership (d)	943,182	909,482
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Interest rate contracts | Fair Value, Measurements, Recurring
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Derivatives - Interest rate contracts	4,350	4,360
Derivatives - Interest rate contracts (b)		413
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Commercial bank | Fair Value, Measurements, Recurring
Unsecured debt instruments
Unsecured debt instruments (c)	40,717	21,350
Borrowings outstanding at end of period	285,000
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Senior Unsecured Notes [Member] | Fair Value, Measurements, Recurring
Unsecured debt instruments
Unsecured debt instruments (c)	2,561,874	2,261,838
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes receivable, net	18,578	19,645
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Total assets	22,928	24,005
Unsecured debt instruments
Total liabilities	3,764,394	3,463,639
Redeemable noncontrolling interests in the Operating Partnership (d)	943,182	909,482
Estimate of Fair Value, Fair Value Disclosure [Member] | Interest rate contracts | Fair Value, Measurements, Recurring
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Derivatives - Interest rate contracts	4,350	4,360
Derivatives - Interest rate contracts (b)		413
Estimate of Fair Value, Fair Value Disclosure [Member] | Commercial bank | Fair Value, Measurements, Recurring
Unsecured debt instruments
Unsecured debt instruments (c)	40,717	21,350
Borrowings outstanding at end of period	285,000
Estimate of Fair Value, Fair Value Disclosure [Member] | Senior Unsecured Notes [Member] | Fair Value, Measurements, Recurring
Unsecured debt instruments
Unsecured debt instruments (c)	2,623,456	2,304,492
Estimate of Fair Value, Fair Value Disclosure [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Total assets	4,350	4,360
Unsecured debt instruments
Total liabilities		413
Redeemable noncontrolling interests in the Operating Partnership (d)	943,182	909,482
Estimate of Fair Value, Fair Value Disclosure [Member] | Level 2 [Member] | Interest rate contracts | Fair Value, Measurements, Recurring
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Derivatives - Interest rate contracts	4,350	4,360
Derivatives - Interest rate contracts (b)		413
Estimate of Fair Value, Fair Value Disclosure [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes receivable, net	18,578	19,645
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Total assets	18,578	19,645
Unsecured debt instruments
Total liabilities	3,764,394	3,463,226
Estimate of Fair Value, Fair Value Disclosure [Member] | Level 3 [Member] | Commercial bank | Fair Value, Measurements, Recurring
Unsecured debt instruments
Unsecured debt instruments (c)	40,717	21,350
Borrowings outstanding at end of period	285,000
Estimate of Fair Value, Fair Value Disclosure [Member] | Level 3 [Member] | Senior Unsecured Notes [Member] | Fair Value, Measurements, Recurring
Unsecured debt instruments
Unsecured debt instruments (c)	2,623,456	2,304,492
Variable Rate Debt | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Tax-exempt secured notes payable | Fair Value, Measurements, Recurring
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Secured debt including debt on real estate held for sale	94,700
Variable Rate Debt | Estimate of Fair Value, Fair Value Disclosure [Member] | Tax-exempt secured notes payable | Fair Value, Measurements, Recurring
Secured debt instruments - variable rate
Secured debt instruments - variable rate	94,700
Variable Rate Debt | Estimate of Fair Value, Fair Value Disclosure [Member] | Level 3 [Member] | Tax-exempt secured notes payable | Fair Value, Measurements, Recurring
Secured debt instruments - variable rate
Secured debt instruments - variable rate	94,700
Variable Rate Debt | Tax-exempt secured notes payable
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Secured debt including debt on real estate held for sale	94,700	94,700
Variable Rate Debt | Tax-exempt secured notes payable | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Tax-exempt secured notes payable | Fair Value, Measurements, Recurring
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Secured debt including debt on real estate held for sale		94,700
Variable Rate Debt | Tax-exempt secured notes payable | Estimate of Fair Value, Fair Value Disclosure [Member] | Tax-exempt secured notes payable | Fair Value, Measurements, Recurring
Secured debt instruments - variable rate
Secured debt instruments - variable rate		94,700
Variable Rate Debt | Tax-exempt secured notes payable | Estimate of Fair Value, Fair Value Disclosure [Member] | Level 3 [Member] | Tax-exempt secured notes payable | Fair Value, Measurements, Recurring
Secured debt instruments - variable rate
Secured debt instruments - variable rate		94,700
Variable Rate Debt | Fannie Mae credit facilities
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Secured debt including debt on real estate held for sale	29,034	280,946
Variable Rate Debt | Fannie Mae credit facilities | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fannie Mae credit facilities | Fair Value, Measurements, Recurring
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Secured debt including debt on real estate held for sale	29,034	280,946
Variable Rate Debt | Fannie Mae credit facilities | Estimate of Fair Value, Fair Value Disclosure [Member] | Fannie Mae credit facilities | Fair Value, Measurements, Recurring
Secured debt instruments - variable rate
Secured debt instruments - variable rate	29,034	280,946
Variable Rate Debt | Fannie Mae credit facilities | Estimate of Fair Value, Fair Value Disclosure [Member] | Level 3 [Member] | Fannie Mae credit facilities | Fair Value, Measurements, Recurring
Secured debt instruments - variable rate
Secured debt instruments - variable rate	29,034	280,946
Fixed Rate Debt | Fannie Mae credit facilities
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Secured debt including debt on real estate held for sale	285,836	355,836
Fixed Rate Debt | Fannie Mae credit facilities | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fannie Mae credit facilities | Fair Value, Measurements, Recurring
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Secured debt including debt on real estate held for sale	285,836	355,836
Fixed Rate Debt | Fannie Mae credit facilities | Estimate of Fair Value, Fair Value Disclosure [Member] | Fannie Mae credit facilities | Fair Value, Measurements, Recurring
Secured debt instruments - fixed rate
Secured debt instruments - fixed rate	293,050	365,693
Fixed Rate Debt | Fannie Mae credit facilities | Estimate of Fair Value, Fair Value Disclosure [Member] | Level 3 [Member] | Fannie Mae credit facilities | Fair Value, Measurements, Recurring
Secured debt instruments - fixed rate
Secured debt instruments - fixed rate	293,050	365,693
Fixed Rate Debt | Mortgages Notes Payable [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Secured debt including debt on real estate held for sale	397,482	402,996
Fixed Rate Debt | Mortgages Notes Payable [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Mortgages Notes Payable [Member] | Fair Value, Measurements, Recurring
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Secured debt including debt on real estate held for sale	397,482	402,996
Fixed Rate Debt | Mortgages Notes Payable [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Mortgages Notes Payable [Member] | Fair Value, Measurements, Recurring
Secured debt instruments - fixed rate
Secured debt instruments - fixed rate	398,437	396,045
Fixed Rate Debt | Mortgages Notes Payable [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Level 3 [Member] | Mortgages Notes Payable [Member] | Fair Value, Measurements, Recurring
Secured debt instruments - fixed rate
Secured debt instruments - fixed rate	$ 398,437	$ 396,045

Derivatives and Hedging Activ49

Derivatives and Hedging Activity - Interest Rate Derivatives (Details) $ in Thousands	Sep. 30, 2017USD ($)instrument
Designated as Hedging Instrument | Interest rate swaps [Member]
Derivative [Line Items]
Number of Interest Rate Derivatives Held | instrument	4
Notional | $	$ 315,000
Designated as Hedging Instrument | Interest rate caps [Member]
Derivative [Line Items]
Number of Interest Rate Derivatives Held | instrument	1
Notional | $	$ 65,197
Not Designated as Hedging Instrument | Interest rate caps [Member]
Derivative [Line Items]
Number of Interest Rate Derivatives Held | instrument	3
Notional | $	$ 271,076

Derivatives and Hedging Activ50

Derivatives and Hedging Activity - Undesignated Interest Rate Derivatives (Details) - Interest rate contracts - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other assets | Designated as Hedging Instrument
Fair value of Company's derivative financial instruments and their classification on Consolidated Balance Sheet
Derivative Asset Designated as Hedging Instrument, Fair Value	$ 4,350	$ 4,359
Other assets | Not Designated as Hedging Instrument
Fair value of Company's derivative financial instruments and their classification on Consolidated Balance Sheet
Derivative Asset Not Designated as Hedging Instrument, Fair Value		1
Other liabilities | Designated as Hedging Instrument
Fair value of Company's derivative financial instruments and their classification on Consolidated Balance Sheet
Derivative Liability Designated as Hedging Instrument, Fair Value		$ 413

Derivatives and Hedging Activ51

Derivatives and Hedging Activity - Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Effect of derivative instruments on the Consolidated Statements of Operations
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)		$ 0	$ (100)	$ 0
Unrealized holding gain/(loss)	$ 131	1,090	256	(1,684)
Amount of Gain or (Loss) Recognized in Income on Derivative		(1)	(1)	(4)
Interest rate contracts | Cash Flow Hedging
Effect of derivative instruments on the Consolidated Statements of Operations
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	0
Interest rate contracts | Interest expense | Cash Flow Hedging
Effect of derivative instruments on the Consolidated Statements of Operations
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(119)	(914)	(1,192)	(2,792)
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)			(136)
Interest rate contracts | Other income/(expense) | Maximum
Effect of derivative instruments on the Consolidated Statements of Operations
Amount of Gain or (Loss) Recognized in Income on Derivative	$ (100)	$ (100)	$ (100)	$ (100)

Derivatives and Hedging Activ52

Derivatives and Hedging Activity - Offsetting Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Offsetting Derivative Assets [Abstract]
Net Amounts of Assets Presented in the Consolidated Balance Sheets (a)	$ 4,350	$ 4,360
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments		(221)
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	0	0
Net Amount	4,350	4,139
Offsetting Derivative Liabilities [Abstract]
Gross Amounts Offset in the Consolidated Balance Sheets	0	413
Net Amounts of Liabilities Presented in the Consolidated Balance Sheets (b)		413
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments		(221)
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	0	0
Net Amount		192
Fair Value, Measurements, Recurring | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Interest rate contracts
Offsetting Derivative Assets [Abstract]
Derivative Asset Designated as Hedging Instrument, Fair Value	$ 4,350	$ 4,360

Derivatives and Hedging Activ53

Derivatives and Hedging Activity - Effectiveness (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative, Collateral, Obligation to Return Cash		$ 0		$ 0
Derivatives and Hedging Activity (Textual) [Abstract]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	$ 0	100	$ 0
Estimated additional accumulated other comprehensive Income/(Loss) transferred to interest expense		(200)
Derivative instruments not designated as hedging instruments, gain (loss), net	$ (1)	(1)	$ (4)
Payment required to pay for contract termination		4,400
Interest rate swaps [Member] | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional		$ 315,000

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stock Based Compensation (Textual) [Abstract]
Stock based compensation expense	$ 3.3	$ 3.5	$ 10.1	$ 10.5

Commitments and Contingencies55

Commitments and Contingencies (Details) $ in Thousands	Oct. 05, 2017USD ($)	Sep. 30, 2017USD ($)community	Sep. 30, 2016USD ($)
Real Estate Properties [Line Items]
Development costs and capital expenditures incurred but not yet paid		$ 48,995	$ 44,564
Number of communities owned (in communities) | community		128
Percentage Of Cost Incurred To Date		100.00%
Costs Incurred to Date		$ 1,197,943
Expected Costs to Complete		313,881
Participating Loan Investment Steele Creek Denver Colorado [Member]
Real Estate Properties [Line Items]
Payment to acquire real estate	$ 141,500
Wholly owned — under development [Member]
Real Estate Properties [Line Items]
Development costs and capital expenditures incurred but not yet paid		$ 38,300
Number of communities owned (in communities) | community		2
Costs Incurred to Date		$ 534,317
Expected Costs to Complete		$ 182,183
Average Ownership Stake		100.00%
Wholly owned — redevelopment [Member]
Real Estate Properties [Line Items]
Development costs and capital expenditures incurred but not yet paid		$ 1,500
Number of communities owned (in communities) | community		1
Costs Incurred to Date		$ 8,006
Expected Costs to Complete		$ 1,494
Average Ownership Stake		100.00%
Unconsolidated joint ventures [Member]
Real Estate Properties [Line Items]
Number of communities owned (in communities) | community		5
Costs Incurred to Date		$ 463,682
Expected Costs to Complete		$ 36,263
Average Ownership Stake		50.00%
Participating Loan Investment Steele Creek Denver Colorado [Member]
Real Estate Properties [Line Items]
Number of communities owned (in communities) | community		1
Costs Incurred to Date		$ 93,983
Preferred Equity Investment West Coast Development JV [Member]
Real Estate Properties [Line Items]
Number of communities owned (in communities) | community		5
Costs Incurred to Date		$ 80,143
Expected Costs to Complete		$ 58,194
Average Ownership Stake		48.00%
Other investments
Real Estate Properties [Line Items]
Number of communities owned (in communities) | community		1
Costs Incurred to Date		$ 17,812
Expected Costs to Complete		$ 35,747

Reportable Segments (Details)

Reportable Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)item	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)segmentitem	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Same Store Communities | item	36,540		35,689
Reconciling items:
Joint venture management and other fees	$ 2,827	$ 2,997	$ 8,718	$ 8,473
Property management	(6,827)	(6,607)	(20,190)	(19,480)
Other operating expenses	(1,950)	(1,636)	(6,010)	(5,280)
Segment Reporting Reconciling Items Cost of Services Depreciation and Amortization	(107,171)	(105,802)	(320,653)	(317,078)
General and administrative	(12,467)	(11,826)	(36,976)	(36,505)
Casualty-related charges/(recoveries), net	(2,056)	(205)	(3,749)	(1,834)
Other depreciation and amortization	(1,585)	(1,526)	(4,760)	(4,565)
Income/(loss) from unconsolidated entities	1,819	15,285	11,591	16,289
Interest expense	(30,095)	(31,954)	(94,500)	(93,736)
Interest and other income/(expense), net	481	478	1,423	1,449
Tax (provision)/benefit, net	(127)	(94)	(825)	711
Gain Loss on the Sale of Real Estate, Including Discontinued Operations			2,132	10,385
Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership	(1,415)	(2,459)	(4,607)	(4,974)
Net (income)/loss attributable to noncontrolling interests	35	(51)	(107)	(365)
Net income/(loss) attributable to UDR, Inc.	16,190	26,956	52,314	55,295
Reportable apartment home segment assets:
Total segment assets	9,990,610		9,990,610		$ 9,615,753
Accumulated depreciation	(3,237,588)		(3,237,588)		(2,923,625)
Total real estate owned, net of accumulated depreciation	6,753,022		6,753,022		6,692,128
Reconciling items:
Cash and cash equivalents	1,788	3,301	1,788	3,301	2,112	$ 6,742
Restricted cash	20,413		20,413		19,994
Notes receivable, net	18,594		18,594		19,790
Investment in and advances to unconsolidated joint ventures, net	839,864		839,864		827,025
Other assets	127,024		127,024		118,535
Total consolidated assets	7,760,705		$ 7,760,705		7,679,584
Reportable Segment (Textual) [Abstract]
Number of reportable segments | segment			2
Condition for Community considered to have stabilized occupancy			90%
Time to maintain percent occupancy to be considered a community			3 months
Same Communities
Reportable Segment (Textual) [Abstract]
Capital expenditures and development	24,800	25,500	$ 63,800	62,000
Same Store Communities Western Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	84,287	80,975	249,730	238,948
Reportable apartment home segment NOI	62,939	61,510	187,493	179,473
Reportable apartment home segment assets:
Total segment assets	2,964,637		2,964,637		2,938,073
Same Store Communities Mid-Atlantic Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	57,061	55,903	157,010	152,661
Reportable apartment home segment NOI	39,479	37,958	108,965	104,150
Reportable apartment home segment assets:
Total segment assets	2,440,929		2,440,929		2,427,948
Same Store Communities Northeast Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	38,162	37,211	113,814	110,420
Reportable apartment home segment NOI	26,100	26,379	80,151	79,721
Reportable apartment home segment assets:
Total segment assets	1,863,595		1,863,595		1,857,193
Same Store Communities Southeastern Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	29,297	28,150	87,103	82,989
Reportable apartment home segment NOI	20,712	18,882	60,432	56,759
Reportable apartment home segment assets:
Total segment assets	757,135		757,135		746,762
Same Store Communities Southwestern Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	10,816	10,453	32,181	30,815
Reportable apartment home segment NOI	6,429	6,415	19,722	19,090
Reportable apartment home segment assets:
Total segment assets	289,123		289,123		283,260
Non-Mature communities/Other [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	28,641	27,563	94,355	92,547
Reportable apartment home segment NOI	19,062	19,212	64,064	62,612
Reportable apartment home segment assets:
Total segment assets	1,675,191		1,675,191		1,362,517
Reportable Segment (Textual) [Abstract]
Capital expenditures and development	800	1,500	3,100	6,500
Total Communities [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	248,264	240,255	734,193	708,380
Reportable apartment home segment NOI	$ 174,721	170,356	$ 520,827	501,805
United Dominion Reality L.P. [Member]
Segment Reporting Information [Line Items]
Same Store Communities | item	15,058		15,058
Reconciling items:
Property management	$ (2,894)	(2,821)	$ (8,578)	(8,313)
Other operating expenses	(1,572)	(1,509)	(5,248)	(4,528)
Segment Reporting Reconciling Items Cost of Services Depreciation and Amortization	(37,057)	(36,925)	(113,167)	(110,769)
General and administrative	(4,134)	(4,631)	(13,760)	(13,896)
Casualty-related charges/(recoveries), net	43	(14)	(1,701)	(479)
Income/(loss) from unconsolidated entities	(4,782)	(9,463)	(14,556)	(32,880)
Interest expense	(5,055)	(7,448)	(25,318)	(22,631)
Net (income)/loss attributable to noncontrolling interests	(374)	(368)	(1,067)	(1,062)
Net income/(loss) attributable to UDR, Inc.	20,736	11,517	45,243	27,348
Reportable apartment home segment assets:
Total segment assets	3,708,050		3,708,050		3,674,704
Accumulated depreciation	(1,520,305)		(1,520,305)		(1,408,815)
Total real estate owned, net of accumulated depreciation	2,187,745		2,187,745		2,265,889
Reconciling items:
Cash and cash equivalents	222	45	222	45	756	$ 3,103
Restricted cash	12,608		12,608		11,694
Investment in and advances to unconsolidated joint ventures, net	85,783		85,783		112,867
Other assets	30,634		30,634		24,329
Total consolidated assets	2,316,992		$ 2,316,992		2,415,535
Reportable Segment (Textual) [Abstract]
Number of reportable segments | segment			2
United Dominion Reality L.P. [Member] | Same-Store [Member]
Reportable Segment (Textual) [Abstract]
Capital expenditures and development	10,900	12,500	$ 30,500	29,500
United Dominion Reality L.P. [Member] | Same Store Communities Western Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	51,976	49,594	153,724	145,833
Reportable apartment home segment NOI	39,313	37,562	116,720	110,508
Reportable apartment home segment assets:
Total segment assets	1,615,904		1,615,904		1,596,815
United Dominion Reality L.P. [Member] | Same Store Communities Mid-Atlantic Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	14,657	14,371	44,203	42,945
Reportable apartment home segment NOI	9,843	9,468	30,073	28,717
Reportable apartment home segment assets:
Total segment assets	654,131		654,131		655,693
United Dominion Reality L.P. [Member] | Same Store Communities Northeast Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	13,746	13,516	40,850	39,724
Reportable apartment home segment NOI	9,884	10,186	30,488	30,649
Reportable apartment home segment assets:
Total segment assets	676,996		676,996		674,928
United Dominion Reality L.P. [Member] | Same Store Communities Southeastern Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	12,448	12,073	37,171	35,687
Reportable apartment home segment NOI	8,844	7,986	25,671	24,194
Reportable apartment home segment assets:
Total segment assets	332,154		332,154		328,729
United Dominion Reality L.P. [Member] | Non-Mature communities/Other [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	12,426	13,041	35,998	38,084
Reportable apartment home segment NOI	8,677	9,494	25,686	27,838
Reportable apartment home segment assets:
Total segment assets	428,865		428,865		$ 418,539
Reportable Segment (Textual) [Abstract]
Capital expenditures and development	500	400	1,500	1,100
United Dominion Reality L.P. [Member] | Total Communities [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	105,253	102,595	311,946	302,273
Reportable apartment home segment NOI	$ 76,561	$ 74,696	$ 228,638	$ 221,906
Taxable REIT Subsidiaries | United Dominion Reality L.P. [Member]
Reportable Segment (Textual) [Abstract]
Related Party Transaction, Management Fee Percentage			2.75%

Consolidated Balance Sheets (UN

Consolidated Balance Sheets (UNITED DOMINION REALTY, L.P) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Real estate owned:
Real estate held for investment	$ 9,456,293	$ 9,271,847
Less: accumulated depreciation	(3,235,851)	(2,923,072)
Total real estate owned, net of accumulated depreciation	6,753,022	6,692,128
Cash and cash equivalents	1,788	2,112
Restricted cash	20,413	19,994
Investment in unconsolidated entities	839,864	827,025
Other assets	127,024	118,535
Total assets	7,760,705	7,679,584
LIABILITIES AND CAPITAL
Secured debt, net	804,977	1,130,858
Real estate taxes payable	35,337	17,388
Accrued interest payable	30,192	29,257
Security deposits and prepaid rent	32,619	34,238
Distributions payable	91,454	86,936
Accounts payable, accrued expenses, and other liabilities	96,009	103,835
Total liabilities	3,964,622	3,673,132
Commitments and contingencies (Note 10)
Partners' Capital:
Accumulated other comprehensive income/(loss), net	(4,167)	(5,609)
Total liabilities and equity	7,760,705	7,679,584
United Dominion Reality L.P. [Member]
Real estate owned:
Real estate held for investment	3,708,050	3,674,704
Less: accumulated depreciation	(1,520,305)	(1,408,815)
Total real estate owned, net of accumulated depreciation	2,187,745	2,265,889
Cash and cash equivalents	222	756
Restricted cash	12,608	11,694
Investment in unconsolidated entities	85,783	112,867
Other assets	30,634	24,329
Total assets	2,316,992	2,415,535
LIABILITIES AND CAPITAL
Secured debt, net	159,805	433,974
Notes payable due to General Partner	273,334	273,334
Real estate taxes payable	10,854	2,104
Accrued interest payable	606	1,410
Security deposits and prepaid rent	14,267	14,593
Distributions payable	57,028	54,192
Accounts payable, accrued expenses, and other liabilities	12,490	17,429
Total liabilities	528,384	797,036
Commitments and contingencies (Note 10)
Partners' Capital:
General partner: 110,883 OP Units outstanding at September 30, 2017 and December 31, 2016	952	1,026
Limited partners: 183,240,041 and 183,167,815 OP Units outstanding at September 30, 2017 and December 31, 2016, respectively	1,457,663	1,577,289
Accumulated other comprehensive income/(loss), net		(113)
Total partners' capital	1,458,615	1,578,202
Advances (to)/from General Partner	308,294	19,659
Noncontrolling interests	21,699	20,638
Total capital	1,788,608	1,618,499
Total liabilities and equity	$ 2,316,992	$ 2,415,535

Consolidated Balance Sheets (58

Consolidated Balance Sheets (UNITED DOMINION REALTY, L.P) (Parenthetical) - shares	Sep. 30, 2017	Dec. 31, 2016
Partners' Capital:
OP units outstanding related to limited partner	183,350,924	183,278,698
United Dominion Reality L.P. [Member]
Partners' Capital:
OP units outstanding related to general partner	110,883	110,883
OP units outstanding related to limited partner	183,240,041	183,167,815

Consolidated Statements of Op59

Consolidated Statements of Operations (Unaudited) (UNITED DOMINION REALTY, L.P) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
REVENUES
Rental income	$ 248,264	$ 240,255	$ 734,193	$ 708,380
OPERATING EXPENSES:
Property operating and maintenance	42,362	41,852	122,574	119,872
Real estate taxes and insurance	31,181	28,047	90,792	86,703
Property management	6,827	6,607	20,190	19,480
Other operating expenses	1,950	1,636	6,010	5,280
Real estate depreciation and amortization	107,171	105,802	320,653	317,078
General and administrative	12,467	11,826	36,976	36,505
Casualty-related (recoveries)/charges, net	2,056	205	3,749	1,834
Total operating expenses	205,599	197,501	605,704	591,317
Operating income	45,492	45,751	137,207	125,536
Income/(loss) from unconsolidated entities	1,819	15,285	11,591	16,289
Interest expense	(30,095)	(31,954)	(94,500)	(93,736)
Net income/(loss)	17,570	29,466	57,028	60,634
Net income/(loss) attributable to OP unitholders	16,190	26,956	52,314	55,295
United Dominion Reality L.P. [Member]
REVENUES
Rental income	105,253	102,595	311,946	302,273
OPERATING EXPENSES:
Property operating and maintenance	17,196	17,160	50,039	49,058
Real estate taxes and insurance	11,496	10,739	33,269	31,309
Property management	2,894	2,821	8,578	8,313
Other operating expenses	1,572	1,509	5,248	4,528
Real estate depreciation and amortization	37,057	36,925	113,167	110,769
General and administrative	4,134	4,631	13,760	13,896
Casualty-related (recoveries)/charges, net	(43)	14	1,701	479
Total operating expenses	74,306	73,799	225,762	218,352
Operating income	30,947	28,796	86,184	83,921
Income/(loss) from unconsolidated entities	(4,782)	(9,463)	(14,556)	(32,880)
Interest expense	(2,002)	(4,395)	(16,159)	(13,472)
Interest expense on note payable due to General Partner	(3,053)	(3,053)	(9,159)	(9,159)
Net income/(loss)	21,110	11,885	46,310	28,410
Net (income)/loss attributable to noncontrolling interest	(374)	(368)	(1,067)	(1,062)
Net income/(loss) attributable to OP unitholders	$ 20,736	$ 11,517	$ 45,243	$ 27,348
Income/(loss) per OP unit- basic and diluted:
Net income/(loss) per weighted average OP unit - basic and diluted	$ 0.11	$ 0.06	$ 0.25	$ 0.15
Weighted average OP units outstanding - basic and diluted	183,351	183,279	183,342	183,279

Consolidated Statements of Co60

Consolidated Statements of Comprehensive Income / (Loss) (UNITED DOMINION REALTY, L.P.) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net income/(loss)	$ 17,570	$ 29,466	$ 57,028	$ 60,634
Other comprehensive income/(loss), including portion attributable to noncontrolling interests:
Unrealized holding gain/(loss)	131	1,090	256	(1,684)
(Gain)/loss reclassified into earnings from other comprehensive income/(loss)	119	914	1,328	2,792
Other comprehensive income/(loss), including portion attributable to noncontrolling interests	250	2,004	1,584	1,108
Comprehensive income/(loss)	17,820	31,470	58,612	61,742
Comprehensive (income)/loss attributable to noncontrolling interests	(1,401)	(2,686)	(4,856)	(4,915)
Comprehensive income/(loss) attributable to OP unitholders	16,419	28,784	53,756	56,827
United Dominion Reality L.P. [Member]
Net income/(loss)	21,110	11,885	46,310	28,410
Other comprehensive income/(loss), including portion attributable to noncontrolling interests:
Unrealized holding gain/(loss)		(1)		(4)
(Gain)/loss reclassified into earnings from other comprehensive income/(loss)		3	106	6
Other comprehensive income/(loss), including portion attributable to noncontrolling interests		2	106	2
Comprehensive income/(loss)	21,110	11,887	46,416	28,412
Comprehensive (income)/loss attributable to noncontrolling interests	(374)	(368)	(1,067)	(1,062)
Comprehensive income/(loss) attributable to OP unitholders	$ 20,736	$ 11,519	$ 45,349	$ 27,350

Consolidated Statements of Ch61

Consolidated Statements of Changes in Capital (UNITED DOMINION REALTY, L.P) (Unaudited) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Long Term Incentive Plan Unit grants	$ 3,795
United Dominion Reality L.P. [Member]
Balance, December 31, 2016	1,618,499
Net income/(loss)	46,310
Distributions	(171,070)
Long Term Incentive Plan Unit grants	6,127
Unrealized gain/(loss) on derivative financial investments	107
Net change in advances (to)/from General Partner	288,635
Balance, September 30, 2017	1,788,608
Advances to/(from) General Partner | United Dominion Reality L.P. [Member]
Balance, December 31, 2016	19,659
Net change in advances (to)/from General Partner	288,635
Balance, September 30, 2017	308,294
Accumulated Other Comprehensive Income/(Loss) [Member] | United Dominion Reality L.P. [Member]
Balance, December 31, 2016	(113)
Unrealized gain/(loss) on derivative financial investments	113
Total Partner's Capital [Member] | United Dominion Reality L.P. [Member]
Balance, December 31, 2016	1,578,202
Net income/(loss)	45,243
Distributions	(171,070)
Long Term Incentive Plan Unit grants	6,127
Unrealized gain/(loss) on derivative financial investments	113
Balance, September 30, 2017	1,458,615
Noncontrolling Interest | United Dominion Reality L.P. [Member]
Balance, December 31, 2016	20,638
Net income/(loss)	1,067
Unrealized gain/(loss) on derivative financial investments	(6)
Balance, September 30, 2017	21,699
Class A Limited Partner | United Dominion Reality L.P. [Member]
Balance, December 31, 2016	63,901
Net income/(loss)	432
Distributions	(1,746)
Adjustment to reflect limited partners' capital at redemption value	4,029
Balance, September 30, 2017	66,616
Limited Partners | United Dominion Reality L.P. [Member]
Balance, December 31, 2016	269,928
Net income/(loss)	1,819
Distributions	(7,280)
OP Unit redemptions for common shares of UDR	(288)
Adjustment to reflect limited partners' capital at redemption value	9,652
Long Term Incentive Plan Unit grants	6,127
Balance, September 30, 2017	279,958
Limited Partner | United Dominion Reality L.P. [Member]
Balance, December 31, 2016	1,243,460
Net income/(loss)	42,964
Distributions	(161,942)
OP Unit redemptions for common shares of UDR	288
Adjustment to reflect limited partners' capital at redemption value	(13,681)
Balance, September 30, 2017	1,111,089
General Partner | United Dominion Reality L.P. [Member]
Balance, December 31, 2016	1,026
Net income/(loss)	28
Distributions	(102)
Balance, September 30, 2017	952
Noncontrolling Interest
Long Term Incentive Plan Unit grants	$ 3,795

Consolidated Statements of Ca62

Consolidated Statements of Cash Flows (UNITED DOMINION REALTY, L.P) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating Activities
Net income/(loss)	$ 17,570	$ 29,466	$ 57,028	$ 60,634
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Depreciation and amortization	107,171	105,802	320,653	317,078
(Income)/loss from unconsolidated entities	(1,819)	(15,285)	(11,591)	(16,289)
Other			13,069	6,490
Changes in operating assets and liabilities:
(Increase)/decrease in operating assets			(8,189)	(10,646)
Increase/(decrease) in operating liabilities			1,590	1,374
Net cash provided by/(used in) operating activities			388,869	383,122
Investing Activities
Capital expenditures and other major improvements — real estate assets, net of escrow reimbursement			(91,645)	(59,729)
Distributions received from unconsolidated entities			65,053	32,472
Net cash provided by/(used in) investing activities			(383,383)	(271,602)
Financing Activities
Proceeds from the issuance of secured debt				25,000
Payments on secured debt			(325,212)	(352,814)
Other			(13,424)	(7,201)
Net cash provided by/(used in) financing activities			(5,810)	(114,961)
Net increase/(decrease) in cash and cash equivalents			(324)	(3,441)
Cash and cash equivalents, beginning of period			2,112	6,742
Cash and cash equivalents, end of period	1,788	3,301	1,788	3,301
Supplemental Information:
Interest paid during the period, net of amounts capitalized			95,008	95,808
Development costs and capital expenditures incurred but not yet paid			48,995	44,564
Long Term Incentive Plan Unit grants			3,795
Dividends declared but not yet paid	91,454	86,959	91,454	86,959
United Dominion Reality L.P. [Member]
Operating Activities
Net income/(loss)	21,110	11,885	46,310	28,410
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Depreciation and amortization	37,057	36,925	113,167	110,769
(Income)/loss from unconsolidated entities	4,782	9,463	14,556	32,880
Other			7,120	1,270
Changes in operating assets and liabilities:
(Increase)/decrease in operating assets			(1,930)	(1,894)
Increase/(decrease) in operating liabilities			3,363	7,911
Net cash provided by/(used in) operating activities			182,586	179,346
Investing Activities
Capital expenditures and other major improvements — real estate assets, net of escrow reimbursement			(42,818)	(49,937)
Distributions received from unconsolidated entities			12,528	11,920
Net cash provided by/(used in) investing activities			(30,290)	(38,017)
Financing Activities
Advances (to)/from General Partner, net			135,155	(93,829)
Proceeds from the issuance of secured debt				10,109
Payments on secured debt			(275,345)	(52,723)
Distributions paid to partnership unitholders			(8,627)	(7,944)
Other			(4,013)
Net cash provided by/(used in) financing activities			(152,830)	(144,387)
Net increase/(decrease) in cash and cash equivalents			(534)	(3,058)
Cash and cash equivalents, beginning of period			756	3,103
Cash and cash equivalents, end of period	222	45	222	45
Supplemental Information:
Interest paid during the period, net of amounts capitalized			20,983	16,900
Development costs and capital expenditures incurred but not yet paid			4,027	7,371
Long Term Incentive Plan Unit grants			6,127	2,979
Dividends declared but not yet paid	$ 57,028	$ 54,193	$ 57,028	$ 54,193

Consolidation and Basis of Pres

Consolidation and Basis of Presentation (UNITED DOMINION REALTY, L.P.)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
CONSOLIDATION AND BASIS OF PRESENTATION	1. BASIS OF PRESENTATION Basis of Presentation UDR, Inc., collectively with our consolidated subsidiaries (“UDR,” the “Company,” “we,” “our,” or “us”), is a self-administered real estate investment trust, or REIT, that owns, operates, acquires, renovates, develops, redevelops, and manages apartment communities. The accompanying consolidated financial statements include the accounts of UDR and its subsidiaries, including United Dominion Realty, L.P. (the “Operating Partnership” or the “OP”) and UDR Lighthouse DownREIT L.P. (the “DownREIT Partnership”). As of September 30, 2017, there were 183,350,924 units in the Operating Partnership (“OP Units”) outstanding, of which 174,237,688 OP Units, or 95.0%, were owned by UDR and 9,113,236 OP Units, or 5.0%, were owned by outside limited partners. As of September 30, 2017, there were 32,367,380 units in the DownREIT Partnership (“DownREIT Units”) outstanding, of which 16,679,628, or 51.5%, were owned by UDR (including 13,470,651 DownREIT Units, or 41.6%, that were held by the Operating Partnership) and 15,687,752, or 48.5%, were owned by outside limited partners. The consolidated financial statements of UDR include the noncontrolling interests of the unitholders in the Operating Partnership and DownREIT Partnership. The accompanying interim unaudited consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted according to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments and eliminations necessary for the fair presentation of our financial position as of September 30, 2017, and results of operations for the three and nine months ended September 30, 2017 and 2016 have been included. Such adjustments are normal and recurring in nature. The interim results presented are not necessarily indicative of results that can be expected for a full year. The accompanying interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2016 appearing in UDR’s Annual Report on Form 10‑K, filed with the Securities and Exchange Commission on February 21, 2017. The accompanying interim unaudited consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”). GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the dates of the interim unaudited consolidated financial statements and the amounts of revenues and expenses during the reporting periods. Actual amounts realized or paid could differ from those estimates. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company evaluated subsequent events through the date its financial statements were issued. No significant recognized or non-recognized subsequent events were noted other than those in Note 3, Real Estate Owned, Note 5, Joint Ventures and Partnerships , and Note 12, Commitments and Contingencies .
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
CONSOLIDATION AND BASIS OF PRESENTATION	1. CONSOLIDATION AND BASIS OF PRESENTATION Basis of Presentation United Dominion Realty, L.P. (“UDR, L.P.,” the “Operating Partnership,” “we” or “our”) is a Delaware limited partnership, that owns, acquires, renovates, redevelops, manages, and disposes of multifamily apartment communities generally located in high barrier to entry markets located in the United States. The high barrier to entry markets are characterized by limited land for new construction, difficult and lengthy entitlement process, expensive single-family home prices and significant employment growth potential. UDR, L.P. is a subsidiary of UDR, Inc. (“UDR” or the “General Partner”), a self-administered real estate investment trust, or REIT, through which UDR conducts a significant portion of its business. During the three months ended September 30, 2017 and 2016, rental revenues of the Operating Partnership represented 42% and 43%, respectively, and for the nine months ended September 30, 2017 and 2016, 42% and 43%, respectively, of the General Partner’s consolidated rental revenues. As of September 30, 2017, the Operating Partnership’s apartment portfolio consisted of 54 communities located in 14 markets consisting of 16,698 apartment homes. Interests in UDR, L.P. are represented by operating partnership units (“OP Units”). The Operating Partnership’s net income is allocated to the partners, which is initially based on their respective distributions made during the year and secondly, their percentage interests. Distributions are made in accordance with the terms of the Amended and Restated Agreement of Limited Partnership of United Dominion Realty, L.P. (the “Operating Partnership Agreement”), on a per unit basis that is generally equal to the dividend per share on UDR’s common stock, which is publicly traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “UDR.” As of September 30, 2017, there were 183,350,924 OP Units outstanding, of which 174,237,688, or 95.0%, were owned by UDR and affiliated entities and 9,113,236, or 5.0%, were owned by non-affiliated limited partners. See Note 9, Capital Structure . The accompanying interim unaudited consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted according to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments and eliminations necessary for the fair presentation of our financial position as of September 30, 2017, and results of operations for the three and nine months ended September 30, 2017 and 2016 have been included. Such adjustments are normal and recurring in nature. The interim results presented are not necessarily indicative of results that can be expected for a full year. The accompanying interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2016 included in the Annual Report on Form 10‑K filed by UDR and the Operating Partnership with the SEC on February 21, 2017. The accompanying interim unaudited consolidated statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”). GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the dates of the interim unaudited consolidated financial statements and the amounts of revenues and expenses during the reporting periods. Actual amounts realized or paid could differ from those estimates. All intercompany accounts and transactions have been eliminated in consolidation. The Operating Partnership evaluated subsequent events through the date its financial statements were issued. No recognized or non-recognized subsequent events were noted.

Significant Accounting Polici64

Significant Accounting Policies (UNITED DOMINION REALTY, L.P.)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
SIGNIFICANT ACCOUNTING POLICIES	2. SIGNIFICANT ACCOUNTING POLICIES Recent Accounting Pronouncements In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging, Targeted Improvements to Accounting for Hedging Activities . The ASU aims to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The updated standard will be effective for the Company on January 1, 2019 and must be applied using a modified retrospective approach; however, early adoption of the ASU is permitted. The Company does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017‑01, Business Combinations (Topic 805), Clarifying the Definition of a Business. The ASU changes the definition of a business to assist entities with evaluating whether a set of transferred assets is a business. As a result, the accounting for acquisitions of real estate could be impacted. The updated standard will be effective for the Company on January 1, 2018; however, early adoption of the ASU is permitted. The ASU will be applied prospectively to any transactions occurring within the period of adoption. The Company expects that the updated standard will result in fewer acquisitions of real estate meeting the definition of a business and fewer acquisition-related costs being expensed in the period incurred. In November 2016, the FASB issued ASU 2016‑18, Statement of Cash Flows (Topic 230), Restricted Cash . The ASU addresses the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. The updated standard will be effective for the Company on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Company does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU. In August 2016, the FASB issued ASU 2016‑15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments . The ASU addresses specific cash flow items with the objective of reducing existing diversity in practice, including the treatment of distributions received from equity method investees. The updated standard will be effective for the Company on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Company elected to early adopt ASU 2016‑15 in 2016 and elected to classify distributions received from equity method investees using the cumulative earnings approach. No prior period amounts required adjustment as a result of the adoption. In June 2016, the FASB issued ASU 2016‑13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The standard requires entities to estimate a lifetime expected credit loss for most financial assets, including trade and other receivables, held-to-maturity debt securities, loans and other financial instruments, and to present the net amount of the financial instrument expected to be collected. The updated standard will be effective for the Company on January 1, 2020; however, early adoption of the ASU is permitted on January 1, 2019. The Company is currently evaluating the effect that the updated standard will have on the consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016‑09, Compensation-Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting . The ASU aims to simplify the accounting for share-based payments by amending the accounting for forfeitures, statutory tax withholding requirements, classification in the statements of cash flow and income taxes. The updated standard was effective for the Company on January 1, 2017, at which time the Company prospectively began accounting for forfeitures as incurred and began applying the updated rules for statutory withholdings. As a result of adopting the ASU, the Company recorded a one-time adjustment for existing estimated forfeitures of $0.6 million as of January 1, 2017 to Distributions in Excess of Net Income on January 1, 2017. In February 2016, the FASB issued ASU No. 2016‑02, Leases . The standard amends the existing lease accounting guidance and requires lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that have a duration of one year or less) on their balance sheets. Lessees will continue to recognize lease expense in a manner similar to current accounting. For lessors, accounting for leases under the new guidance is substantially the same as in prior periods, but eliminates current real estate-specific provisions and changes the treatment of initial direct costs. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparable period presented, with an option to elect certain transition relief. Full retrospective application is prohibited. The standard will be effective for the Company on January 1, 2019; however, early adoption of the ASU is permitted. While the Company is currently evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures, we expect to adopt the guidance on its effective date, at which time we will recognize right-of-use assets and related lease liabilities on our consolidated balance sheets related to ground leases on any communities where we are the lessee. In May 2014, the FASB issued ASU No. 2014‑09, Revenue from Contracts with Customers . The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective, including industry-specific revenue guidance. The standard specifically excludes lease contracts. The ASU allows for the use of either the full or modified retrospective transition method and will be effective for the Company on January 1, 2018, at which time the Company expects to adopt the updated standard using the modified retrospective approach. However, as the majority of the Company’s revenue is from rental income related to leases, the Company does not expect the ASU to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU. Principles of Consolidation The Company accounts for subsidiary partnerships, joint ventures and other similar entities in which it holds an ownership interest in accordance with the consolidation guidance. The Company first evaluates whether each entity is a variable interest entity (“VIE”). Under the VIE model, the Company consolidates an entity when it has control to direct the activities of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the voting model, the Company consolidates an entity when it controls the entity through ownership of a majority voting interest. Discontinued Operations In accordance with GAAP, a discontinued operation represents (1) a component of an entity or group of components that has been disposed of or is classified as held for sale in a single transaction and represents a strategic shift that has or will have a major effect on an entity’s financial results, or (2) an acquired business that is classified as held for sale on the date of acquisition. A strategic shift could include a disposal of (1) a separate major line of business, (2) a separate major geographic area of operations, (3) a major equity method investment, or (4) other major parts of an entity. We record sales of real estate that do not meet the definition of a discontinued operation in Gain/(loss) on sale of real estate owned, net of tax on the Consolidated Statements of Operations. Revenue and Real Estate Sales Gain Recognition Rental income related to leases is recognized on an accrual basis when due from residents and tenants in accordance with GAAP. Rental payments are generally due on a monthly basis and recognized when earned. The Company recognizes interest income, management and other fees and incentives when earned, and the amounts are fixed and determinable. For sale transactions meeting the requirements for full accrual profit recognition, we remove the related assets and liabilities from our Consolidated Balance Sheets and record the gain or loss in the period the transaction closes. For sale transactions that do not meet the full accrual sale criteria due to our continuing involvement, we evaluate the nature of the continuing involvement and account for the transaction under an alternate method of accounting. Unless certain limited criteria are met, non-monetary transactions, including property exchanges, are accounted for at fair value. Sales to entities in which we retain or otherwise own an interest are accounted for as partial sales. If all other requirements for recognizing profit under the full accrual method have been satisfied and no other forms of continuing involvement are present, we recognize profit proportionate to the outside interest of the buyer and defer the gain on the interest we retain. The Company recognizes any deferred gain when the property is sold to a third party. In transactions accounted for by us as partial sales, we determine if the buyer of the majority equity interest in the venture was provided a preference as to cash flows in either an operating or a capital waterfall. If a cash flow preference has been provided, we recognize profit only to the extent that proceeds from the sale of the majority equity interest exceed costs related to the entire property. Notes Receivable The following table summarizes our notes receivable, net as of September 30, 2017 and December 31, 2016 ( dollars in thousands): Interest rate at Balance Outstanding September 30, September 30, December 31, 2017 2017 2016 Note due February 2020 (a) 10.00 % $ 12,994 $ 12,994 Note due July 2017 (b) — % — 2,500 Note due October 2020 (c) 8.00 % 2,000 1,296 Note due August 2022 (d) 10.00 % 3,600 3,000 Total notes receivable, net $ 18,594 $ 19,790 (a) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $13.0 million. Interest payments are due monthly. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $5.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) the eighth anniversary of the date of the note (February 2020). (b) At December 31, 2016, the Company had a secured note receivable with an unaffiliated third party with an aggregate commitment of $2.5 million. The outstanding balance was paid in full during the nine months ended September 30, 2017. (c) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $2.0 million, of which $2.0 million had been funded. During the nine months ended September 30, 2017, the Company loaned $0.7 million. Interest payments are due when the loan matures. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $10.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) the fifth anniversary of the date of the note (October 2020). (d) The Company has a secured note receivable with an unaffiliated third party with an aggregate commitment of $10.0 million, of which, $3. 6 million has been funded. During the nine months ended September 30, 2017, the Company loaned $0.6 million. Interest payments are due monthly. The note matures at the earliest of the following: (a) the closing of any private or public capital raising in the amount of $25.0 million or greater; (b) an acquisition; (c) acceleration in the event of default; or (d) August 2022. In September 2017, the terms of this secured note receivable were amended to reduce the aggregate commitment from $15.0 million to $10.0 million and to extend the maturity date of the note from the fifth anniversary of the note (April 2021) to August 2022. The Company recognized $0.4 million and $0.5 million of interest income from notes receivable during the three months ended September 30, 2017 and 2016, respectively, and $1.4 million and $1.3 million during the nine months ended September 30, 2017 and 2016, respectively, none of which was related party interest income. Interest income is included in Interest income and other income/(expense), net on the Consolidated Statements of Operations. Comprehensive Income/(Loss) Comprehensive income/(loss), which is defined as the change in equity during each period from transactions and other events and circumstances from nonowner sources, including all changes in equity during a period except for those resulting from investments by or distributions to stockholders, is displayed in the accompanying Consolidated Statements of Comprehensive Income/(Loss). For the three and nine months ended September 30, 2017 and 2016, the Company’s other comprehensive income/(loss) consisted of the gain/(loss) (effective portion) on derivative instruments that are designated as and qualify as cash flow hedges, (gain)/loss on derivative instruments reclassified from other comprehensive income/(loss) into earnings, and the allocation of other comprehensive income/(loss) to noncontrolling interests. The (gain)/loss on derivative instruments reclassified from other comprehensive income/(loss) is included in Interest expense on the Consolidated Statements of Operations. See Note 10, Derivatives and Hedging Activity, for further discussion. The allocation of other comprehensive income/(loss) to redeemable noncontrolling interests during the three months ended September 30, 2017 and 2016 was less than $0.1 million and $0.2 million, respectively, and during the nine months ended September 30, 2017 and 2016 was $0.1 million and $(0.4) million, respectively. Income Taxes Due to the structure of the Company as a REIT and the nature of the operations for the operating properties, no provision for federal income taxes has been provided for at UDR. Historically, the Company has generally incurred only state and local excise and franchise taxes. UDR has elected for certain consolidated subsidiaries to be treated as taxable REIT subsidiaries (“TRS”). Income taxes for our TRS are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities from a change in tax rate is recognized in earnings in the period of the enactment date. The Company’s deferred tax assets are generally the result of differing depreciable lives on capitalized assets and timing of expense recognition for certain accrued liabilities. As of September 30, 2017 and December 31, 2016, UDR’s net deferred tax asset was $0.2 million and $0.6 million, respectively. GAAP defines a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. GAAP also provides guidance on derecognition, classification, interest and penalties, accounting for interim periods, disclosure and transition. The Company recognizes its tax positions and evaluates them using a two-step process. First, UDR determines whether a tax position is more likely than not (greater than 50 percent probability) to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Second, the Company will determine the amount of benefit to recognize and record the amount that is more likely than not to be realized upon ultimate settlement. UDR had no material unrecognized tax benefit, accrued interest or penalties at September 30, 2017. UDR and its subsidiaries are subject to federal income tax as well as income tax of various state and local jurisdictions. The tax years 2013 through 2016 remain open to examination by tax jurisdictions to which we are subject. When applicable, UDR recognizes interest and/or penalties related to uncertain tax positions in Tax (provision)/benefit, net on the Consolidated Statements of Operations.
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
SIGNIFICANT ACCOUNTING POLICIES	2. SIGNIFICANT ACCOUNTING POLICIES Recent Accounting Pronouncements In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging, Targeted Improvements to Accounting for Hedging Activities . The purpose of ASU is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The updated standard will be effective for the Operating Partnership on January 1, 2019 and must be applied using a modified retrospective approach; however, early adoption of the ASU is permitted. The Operating Partnership does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017‑01, Business Combinations (Topic 805), Clarifying the Definition of a Business. The ASU changes the definition of a business to assist entities with evaluating whether a set of transferred assets is a business. As a result, the accounting for acquisitions of real estate could be impacted. The updated standard will be effective for the Operating Partnership on January 1, 2018; however, early adoption of the ASU is permitted. The ASU will be applied prospectively to any transactions occurring within the period of adoption. The Operating Partnership expects that the updated standard will result in fewer acquisitions of real estate meeting the definition of a business and fewer acquisition-related costs being expensed in the period incurred. In November 2016, the FASB issued ASU 2016‑18, Statement of Cash Flows (Topic 230), Restricted Cash . The ASU addresses the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. The updated standard will be effective for the Operating Partnership on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Operating Partnership does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU. In August 2016, the FASB issued ASU 2016‑15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments . The ASU addresses specific cash flow items with the objective of reducing existing diversity in practice, including the treatment of distributions received from equity method investees. The updated standard will be effective for the Operating Partnership on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Operating Partnership elected to early adopt ASU 2016‑15 in 2016. The adoption did not have an impact on the Operating Partnership’s consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016‑13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The standard requires entities to estimate a lifetime expected credit loss for most financial assets, including trade and other receivables, held-to-maturity debt securities, loans and other financial instruments, and to present the net amount of the financial instrument expected to be collected. The updated standard will be effective for the Operating Partnership on January 1, 2020; however, early adoption of the ASU is permitted on January 1, 2019. The Operating Partnership is currently evaluating the effect that the updated standard will have on the consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016‑02, Leases . The standard amends the existing lease accounting guidance and requires lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that have a duration of one year or less) on their balance sheets. Lessees will continue to recognize lease expense in a manner similar to current accounting. For lessors, accounting for leases under the new guidance is substantially the same as in prior periods, but eliminates current real estate-specific provisions and changes the treatment of initial direct costs. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparable period presented, with an option to elect certain transition relief. Full retrospective application is prohibited. The standard will be effective for the Operating Partnership on January 1, 2019; however, early adoption of the ASU is permitted. While the Operating Partnership is currently evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures, we expect to adopt the guidance on its effective date, at which time we will recognize right-of-use assets and related lease liabilities on our consolidated balance sheets related to ground leases on any communities where we are the lessee. In May 2014, the FASB issued ASU No. 2014‑09, Revenue from Contracts with Customers . The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective, including industry-specific revenue guidance. The standard specifically excludes lease contracts. The ASU allows for the use of either the full or modified retrospective transition method and will be effective for the Operating Partnership on January 1, 2018, at which time the Operating Partnership expects to adopt the updated standard using the modified retrospective approach. However, as the majority of the Operating Partnership’s revenue is from rental income related to leases, the Operating Partnership does not expect the ASU to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU. Principles of Consolidation The Operating Partnership accounts for subsidiary partnerships, joint ventures and other similar entities in which it holds an ownership interest in accordance with the amended consolidation guidance. The Operating Partnership first evaluates whether each entity is a variable interest entity (“VIE”). Under the VIE model, the Operating Partnership consolidates an entity when it has control to direct the activities of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the voting model, the Operating Partnership consolidates an entity when it controls the entity through ownership of a majority voting interest. Discontinued Operations In accordance with GAAP, a discontinued operation represents (1) a component of an entity or group of components that has been disposed of or is classified as held for sale in a single transaction and represents a strategic shift that has or will have a major effect on an entity’s financial results, or (2) an acquired business that is classified as held for sale on the date of acquisition. A strategic shift could include a disposal of (1) a separate major line of business, (2) a separate major geographic area of operations, (3) a major equity method investment, or (4) other major parts of an entity. We record sales of real estate that do not meet the definition of a discontinued operation in Gain/(loss) on sale of real estate owned, net of tax on the Consolidated Statements of Operations. Income/(Loss) Per Operating Partnership Unit Basic income/(loss) per OP Unit is computed by dividing net income/(loss) attributable to the general and limited partner unitholders by the weighted average number of general and limited partner units outstanding during the year. Diluted income/(loss) per OP Unit reflects the potential dilution that could occur if securities or other contracts to issue OP Units were exercised or converted into OP Units or resulted in the issuance of OP Units and then shared in the income/(loss) of the Operating Partnership. Revenue and Real Estate Sales Gain Recognition Rental income related to leases is recognized on an accrual basis when due from residents and tenants in accordance with GAAP. Rental payments are generally due on a monthly basis and recognized when earned. The Operating Partnership recognizes interest income, fees and incentives when earned, fixed and determinable. For sale transactions meeting the requirements for full accrual profit recognition, we remove the related assets and liabilities from our Consolidated Balance Sheets and record the gain or loss in the period the transaction closes. For sale transactions that do not meet the full accrual sale criteria due to our continuing involvement, we evaluate the nature of the continuing involvement and account for the transaction under an alternate method of accounting. Unless certain limited criteria are met, non-monetary transactions, including property exchanges, are accounted for at fair value. Sales to entities in which we or our General Partner retain or otherwise own an interest are accounted for as partial sales. If all other requirements for recognizing profit under the full accrual method have been satisfied and no other forms of continuing involvement are present, we recognize profit proportionate to the outside interest in the buyer and defer the gain on the interest we or our General Partner retain. The Operating Partnership recognizes any deferred gain when the property is sold to a third party. In transactions accounted by us as partial sales, we determine if the buyer of the majority equity interest in the venture was provided a preference as to cash flows in either an operating or a capital waterfall. If a cash flow preference has been provided, we recognize profit only to the extent that proceeds from the sale of the majority equity interest exceed costs related to the entire property. Comprehensive Income/(Loss) Comprehensive income/(loss), which is defined as the change in equity during each period from transactions and other events and circumstances from nonowner sources, including all changes in equity during a period except for those resulting from investments by or distributions to unitholders, is displayed in the accompanying Consolidated Statements of Comprehensive Income/(Loss). For the three and nine months ended September 30, 2017 and 2016, the Operating Partnership’s other comprehensive income/(loss) consisted of the gain/(loss) (effective portion) on derivative instruments that are designated as and qualify as cash flow hedges and (gain)/loss reclassified from other comprehensive income/(loss) into earnings. The (gain)/loss reclassified from other comprehensive income/(loss) is included in Interest expense on the Consolidated Statements of Operations. See Note 8, Derivatives and Hedging Activity, for further discussion. Income Taxes The taxable income or loss of the Operating Partnership is reported on the tax returns of the partners. Accordingly, no provision has been made in the accompanying financial statements for federal or state income taxes on income that is passed through to the partners. However, any state or local revenue, excise or franchise taxes that result from the operating activities of the Operating Partnership are recorded at the entity level. The Operating Partnership’s tax returns are subject to examination by federal and state taxing authorities. Net income for financial reporting purposes differs from the net income for income tax reporting purposes primarily due to temporary differences, principally real estate depreciation and the tax deferral of certain gains on property sales. The differences in depreciation result from differences in the book and tax basis of certain real estate assets and the differences in the methods of depreciation and lives of the real estate assets. The Operating Partnership evaluates the accounting and disclosure of tax positions taken or expected to be taken in the course of preparing the Operating Partnership’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax benefit or expense in the current year. Management of the Operating Partnership is required to analyze all open tax years, as defined by the statute of limitations, for all major jurisdictions, which include federal and certain states. The Operating Partnership has no examinations in progress and none are expected at this time. Management of the Operating Partnership has reviewed all open tax years (2013 through 2016) of tax jurisdictions and concluded there is no tax liability resulting from unrecognized tax benefits relating to uncertain income tax positions taken or expected to be taken in future tax returns.

Real Estate Owned (UNITED DOMIN

Real Estate Owned (UNITED DOMINION REALTY, L.P.)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
REAL ESTATE OWNED	3. REAL ESTATE OWNED Real estate assets owned by the Company consist of income producing operating properties, properties under development, land held for future development, and sold or held for disposition properties. As of September 30, 2017, the Company owned and consolidated 128 communities in 10 states plus the District of Columbia totaling 39,906 apartment homes. The following table summarizes the carrying amounts for our real estate owned (at cost) as of September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Land $ 1,788,391 $ 1,801,576 Depreciable property — held and used: Land improvements 186,736 178,701 Building, improvements, and furniture, fixtures and equipment 7,481,166 7,291,570 Under development: Land and land improvements 111,028 111,028 Building, improvements, and furniture, fixtures and equipment 423,289 231,254 Real estate held for disposition: Land and land improvements — 1,104 Building, improvements, and furniture, fixtures and equipment — 520 Real estate owned 9,990,610 9,615,753 Accumulated depreciation (3,237,588) (2,923,625) Real estate owned, net $ 6,753,022 $ 6,692,128 Acquisitions During the nine months ended September 30, 2017, the Company exercised its fixed-price option to purchase its joint venture partner’s ownership interest in a 244 home operating community in Seattle, Washington, thereby increasing its ownership interest from 49% to 100%, for a cash purchase price of approximately $66.0 million. As a result, the Company consolidated the operating community. The Company had previously accounted for its 49% ownership interest as a preferred equity investment in an unconsolidated joint venture (see Note 5, Joint Ventures and Partnerships ). As a result of the consolidation, the Company increased its real estate owned by approximately $97.0 million, recorded approximately $1.7 million of in-place lease intangibles and recorded a gain on consolidation of $12.2 million, which is included in Income/(loss) from unconsolidated entities on the Consolidated Statements of Operations. On October 5, 2017, the Company acquired an operating community located in Denver, Colorado with a total of 218 apartment homes and 17,000 square feet of retail space for a purchase price of approximately $141.5 million. Prior to acquiring the community, the Company had provided $93.5 million as a participating loan investment to the third-party developer and was entitled to receive, in addition to repayment of principal and interest, contingent interest equal to 50% of the sum of the amount the property was sold for less construction and closing costs, which equaled approximately $14.9 million. As of September 30, 2017, UDR accounted for its participating loan investment as an unconsolidated joint venture (see Note 5, Joint Ventures and Partnerships ). As of October 5, 2017, the Company consolidated the operating community and accounted for the consolidation as a business combination, resulting in a projected gain on consolidation of approximately $14.8 million. Dispositions During the nine months ended September 30, 2017, the Company sold a parcel of land in Richmond, Virginia for gross proceeds of $3.5 million, resulting in net proceeds of $3.3 million and a gain of $2.1 million. Other Activity Predevelopment, development, and redevelopment projects and related costs are capitalized and reported on the Consolidated Balance Sheets as Total real estate owned, net of accumulated depreciation . The Company capitalizes costs directly related to the predevelopment, development, and redevelopment of a capital project, which include, but are not limited to, interest, real estate taxes, insurance, and allocated development and redevelopment overhead related to support costs for personnel working on the capital projects. We use our professional judgment in determining whether such costs meet the criteria for capitalization or must be expensed as incurred. These costs are capitalized only during the period in which activities necessary to ready an asset for its intended use are in progress and such costs are incremental and identifiable to a specific activity to get the asset ready for its intended use. These costs, excluding the direct costs of development and redevelopment and capitalized interest, were $2.2 million and $1.0 million for the three months ended September 30, 2017 and 2016, respectively, and $6.6 million and $5.7 million for the nine months ended September 30, 2017 and 2016, respectively. Total interest capitalized was $4.6 million and $4.1 million for the three months ended September 30, 2017 and 2016, respectively, and $14.0 million and $12.1 million for the nine months ended September 30, 2017 and 2016, respectively. As each home in a capital project is completed and becomes available for lease-up, the Company ceases capitalization on the related portion and depreciation commences over the estimated useful life. In connection with the acquisition of certain properties, the Company agreed to pay certain of the tax liabilities of certain contributors if the Company sells one or more of the properties contributed in a taxable transaction prior to the expiration of specified periods of time following the acquisition. The Company may, however, sell, without being required to pay any tax liabilities, any of such properties in a non-taxable transaction, including, but not limited to, in an exchange under Section 1031 of the Internal Revenue Code. Further, the Company has agreed to maintain certain debt that may be guaranteed by certain contributors for specified periods of time following the acquisition. The Company, however, has the ability to refinance or repay guaranteed debt or to substitute new debt if the debt and the guaranty continue to satisfy certain conditions.
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
REAL ESTATE OWNED	3. REAL ESTATE OWNED Real estate assets owned by the Operating Partnership consist of income producing operating properties, properties under development, land held for future development, and sold or held for disposition properties. At September 30, 2017, the Operating Partnership owned and consolidated 54 communities in eight states plus the District of Columbia totaling 16,698 apartment homes. The following table summarizes the carrying amounts for our real estate owned (at cost) as of September 30, 2017 and December 31, 2016 (dollars in thousands) : September 30, December 31, 2017 2016 Land $ 816,031 $ 836,644 Depreciable property — held and used: Buildings, improvements, and furniture, fixtures and equipment 2,892,019 2,838,060 Real estate owned 3,708,050 3,674,704 Accumulated depreciation (1,520,305) (1,408,815) Real estate owned, net $ 2,187,745 $ 2,265,889 The Operating Partnership did not have any acquisitions or sales of real estate during the nine months ended September 30, 2017. Predevelopment, development, and redevelopment projects and related costs are capitalized and reported on the Consolidated Balance Sheets as Total real estate owned, net of accumulated depreciation . The Operating Partnership capitalizes costs directly related to the predevelopment, development, and redevelopment of a capital project, which include, but are not limited to, interest, real estate taxes, insurance, and allocated development and redevelopment overhead related to support costs for personnel working on the capital projects. We use our professional judgment in determining whether such costs meet the criteria for capitalization or must be expensed as incurred. These costs are capitalized only during the period in which activities necessary to ready an asset for its intended use are in progress and such costs are incremental and identifiable to a specific activity to get the asset ready for its intended use. These costs, excluding the direct costs of development and redevelopment and capitalized interest, were less than $0.1 million and $0.1 million for the three months ended September 30, 2017 and 2016, respectively, and $0.4 million and $0.7 million for the nine months ended September 30, 2017 and 2016, respectively. Total interest capitalized was less than $0.1 million for the three months ended September 30, 2017 and 2016, and less than $0.1 million and $0.2 million for the nine months ended September 30, 2017 and 2016, respectively. As each home in a capital project is completed and becomes available for lease-up, the Operating Partnership ceases capitalization on the related portion and depreciation commences over the estimated useful life. In connection with the acquisition of certain properties, the Operating Partnership agreed to pay certain of the tax liabilities of certain contributors if the Operating Partnership sells one or more of the properties contributed in a taxable transaction prior to the expiration of specified periods of time following the acquisition. The Operating Partnership may, however, sell, without being required to pay any tax liabilities, any of such properties in a non-taxable transaction, including, but not limited to, in an exchange under Section 1031 of the Internal Revenue Code. Further, the Operating Partnership has agreed to maintain certain debt that may be guaranteed by certain contributors for specified periods of time following the acquisition. The Operating Partnership, however, has the ability to refinance or repay guaranteed debt or to substitute new debt if the debt and the guaranty continue to satisfy certain conditions.

Unconsolidated Entities (UNITED

Unconsolidated Entities (UNITED DOMINION REALTY, L.P.)	9 Months Ended
	Sep. 30, 2017
Schedule of Equity Method Investments [Line Items]
UNCONSOLIDATED ENTITIES	5. JOINT VENTURES AND PARTNERSHIPS UDR has entered into joint ventures and partnerships with unrelated third parties to acquire real estate assets that are either consolidated and included in Real estate owned on the Consolidated Balance Sheets or are accounted for under the equity method of accounting, and are included in Investment in and advances to unconsolidated joint ventures, net , on the Consolidated Balance Sheets. The Company consolidates the entities that we control as well as any variable interest entity where we are the primary beneficiary. Under the VIE model, the Company consolidates an entity when it has control to direct the activities of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the voting model, the Company consolidates an entity when it controls the entity through ownership of a majority voting interest. UDR’s joint ventures and partnerships are funded with a combination of debt and equity. Our losses are limited to our investment and except as noted below, the Company does not guarantee any debt, capital payout or other obligations associated with our joint ventures and partnerships. The Company recognizes earnings or losses from our investments in unconsolidated joint ventures and partnerships consisting of our proportionate share of the net earnings or losses of the joint ventures and partnerships. In addition, we may earn fees for providing management services to the unconsolidated joint ventures and partnerships. The following table summarizes the Company’s investment in and advances to unconsolidated joint ventures and partnerships, net, which are accounted for under the equity method of accounting as of September 30, 2017 and December 31, 2016 (dollars in thousands) : Number of Number of Apartment Properties Homes Investment at UDR’s Ownership Interest Location of September 30, September 30, September 30, December 31, September 30, December 31, Joint Venture Properties 2017 2017 2017 2016 2017 2016 Operating and development: UDR/MetLife I Los Angeles, CA 1 development community (a) 150 $ 34,404 $ 25,209 50.0 % 50.0 % UDR/MetLife II (b) Various 18 operating communities 4,059 307,410 311,282 50.0 % 50.0 % Other UDR/MetLife Development Joint Ventures Various 2 operating communities; 1,437 140,160 160,979 50.6 % 50.6 % 3 development communities (a) UDR/MetLife Vitruvian Park ® Addison, TX 3 operating communities; 1,513 75,608 72,414 50.0 % 50.0 % 1 development community (a); 5 land parcels UDR/KFH Washington, D.C. 3 operating communities 660 9,930 12,835 30.0 % 30.0 % Investment in and advances to unconsolidated joint ventures, net, before participating loan investment, preferred equity investments and other investments $ 567,512 $ 582,719 Income from investments Investment at Three Months Ended Nine Months Ended Years To UDR September 30, December 31, September 30, September 30, Developer Capital Program (c) Location Rate Maturity Commitment 2017 2016 2017 2016 2017 2016 Participating loan investment: Steele Creek (d) Denver, CO 6.5 % 0.3 $ 93,458 $ 93,983 $ 94,003 $ 1,567 $ 1,567 $ 4,650 $ 4,646 Preferred equity investments: West Coast Development Joint Ventures (e) Various 6.5 % (c) N/A — 138,548 150,303 3,355 1,476 16,894 4,674 1532 Harrison (f) San Francisco, CA 11.0 % 5.0 24,645 9,115 — 226 — 228 — 1200 Broadway (g) Nashville, TN 8.0 % 5.0 55,558 12,894 — 65 — 65 — Other investments: The Portals (h) Washington, DC 11.0 % 4.0 38,559 17,048 — 330 — 346 — Other investment ventures N/A N/A N/A $ 15,000 764 — $ — $ — $ — $ — Total Developer Capital Program 272,352 244,306 Total investment in and advances to unconsolidated joint ventures, net $ 839,864 $ 827,025 (a) The number of apartment homes for the communities under development presented in the table above is based on the projected number of total homes upon completion of development. As of September 30, 2017, 726 apartment homes had been completed in Other UDR/MetLife Development Joint Ventures, and no apartment homes had been completed in UDR/MetLife I or in UDR/MetLife Vitruvian Park ® . (b) In September 2015, the 717 Olympic community, which is owned by the UDR/MetLife II joint venture, experienced extensive water damage due to a ruptured water pipe. For the nine months ended September 30, 2017 and 2016, the Company recorded casualty-related charges/(recoveries) of $(0.9) million and $( 3.5) million, respectively, representing its proportionate share of the total charges/(recoveries) recognized. (c) The Developer Capital Program is the program through which the Company makes investments, including preferred equity investments, mezzanine loans or other structured investments that may receive a fixed yield on the investment and may include provisions pursuant to which the Company participates in the increase in value of the property upon monetization of the applicable property and/or holds fixed price purchase options. (d) On October 5, 2017, the Company acquired the Steele Creek community for a purchase price of approximately $141.5 million (see Note 3, Real Estate Owned ). (e) In May 2015, the Company entered into a joint venture agreement with an unaffiliated joint venture partner and agreed to pay $136.3 million for a 48% ownership interest in a portfolio of five communities that were under construction. The communities are located in three of the Company’s core, coastal markets: Seattle, Washington, Los Angeles and Orange County, California. UDR earns a 6.5% preferred return on its investment through each individual community’s date of stabilization, defined as when a community reaches 80% occupancy for 90 consecutive days, while the joint venture partner is allocated all operating income and expense during the pre-stabilization period. Upon stabilization, income and expense are shared based on each partner’s ownership percentage and the Company no longer receives a 6.5% preferred return on its investment in the stabilized community. The Company serves as property manager and earns a management fee during the lease-up phase and subsequent operation of each of the communities. The unaffiliated joint venture partner is the general partner of the joint venture and the developer of the communities. At inception of the agreement, the Company had a fixed-price option to acquire the remaining interest in each community beginning one year after completion. If the options are exercised for all five communities, the Company’s total purchase price will be $597.4 million. In the event the Company does not exercise its options to purchase at least two communities, the unaffiliated joint venture partner will be entitled to earn a contingent disposition fee equal to a 6.5% return on its implied equity in the communities not acquired. The unaffiliated joint venture partner is providing certain guaranties and there are construction loans on all five communities. In January 2017, the Company exercised its fixed-price option to purchase the joint venture partner’s ownership interest in one of the five communities, a 244 home operating community in Seattle, Washington, thereby increasing its ownership interest from 49% to 100%, for a cash purchase price of approximately $66.0 million. As a result, the Company consolidated the operating community and it is no longer accounted for as a preferred equity investment in an unconsolidated joint venture (see Note 3, Real Estate Owned ). As a result of the consolidation, the Company recorded a gain on consolidation of $12.2 million, which is included in Income/(loss) from unconsolidated entities on the Consolidated Statements of Operations. In August 2017, the joint venture sold one of the four remaining communities, a 211 home operating community in Seattle, Washington for a sales price of approximately $101.3 million. As a result, the Company recorded a gain on the sale of approximately $2.4 million, which is included in Income/(loss) from unconsolidated entities on the Consolidated Statements of Operations. As of September 30, 2017, construction was completed on t wo of the three remaining communities. One of the completed communities has achieved stabilization; the other completed community has not achieved stabilization and the Company continues to receive a 6.5% preferred return on its investment in that community; and the third community is still under construction and the Company continues to receive a 6.5% preferred return on its investment in that community. In October 2017, the joint venture entered into a contract to sell the community that had achieved stabilization to an unrelated party for $148.0 million. In March 2017 and May 2017, the Company entered into two additional joint venture agreements with the unaffiliated joint venture partner and agreed to pay $15.5 million for a 49% ownership interest in a 155 home community that is currently under construction in Seattle, Washington and $16.1 million for a 49% ownership interest in a 276 home community that is currently under construction in Hillsboro, Oregon (together with the May 2015 joint venture described above, the “West Coast Development Joint Ventures”). Consistent with the terms of the May 2015 joint venture agreement, UDR earns a 6.5% preferred return on its investments through the communities’ date of stabilization, as defined above, while our joint venture partner is allocated all operating income and expense during the pre-stabilization period. Upon stabilization of the communities, income and expense will be shared based on each partner’s ownership percentage and the Company will no longer receive a 6.5% preferred return on its investment. The Company will serve as property manager and will earn a management fee during the lease-up phase and subsequent operation of the stabilized communities. The unaffiliated joint venture partner is the general partner and the developer of the communities. The Company has concluded it does not control the joint ventures and accounts for them under the equity method of accounting. The Company has a fixed-price option to acquire the remaining interest in the communities beginning one year after completion for a total price of $61.3 million and $72.3 million, respectively. The unaffiliated joint venture partner is providing certain guaranties and there are construction loans on the communities. The Company’s recorded equity investment in the West Coast Development Joint Ventures at September 30, 2017 and December 31, 2016 of $ 138.5 million and $1 50.3 million, respectively, is inclusive of outside basis costs and our accrued but unpaid preferred return. (f) In June 2017, the Company entered into a joint venture agreement with an unaffiliated joint venture partner to develop and operate a 136 apartment home community in San Francisco, California. The Company’s preferred equity investment of up to $24.6 million earns a preferred return of 11.0% per annum. The unaffiliated joint venture partner is the managing member of the joint venture and the developer of the community. As of September 30, 2017, the Company had contributed approximately $ 9.1 million to the joint venture. The Company has concluded it does not control the joint venture and accounts for it under the equity method of accounting. (g) In September 2017, the Company entered into a joint venture agreement with an unaffiliated joint venture partner to develop and operate a 313 apartment home community in Nashville, Tennessee. The Company’s preferred equity investment of up to $55.6 million earns a preferred return of 8.0% per annum and receives a variable percentage of the value created from the project upon a capital or liquidating event. The unaffiliated joint venture partner is the managing member of the joint venture and the developer of the community. As of September 30, 2017 , the Company had contributed approximately $12.9 million to the joint venture. The Company has concluded it does not control the joint venture and accounts for it under the equity method of accounting. (h) In May 2017, the Company entered into a joint venture agreement with an unaffiliated joint venture partner. The joint venture has made a mezzanine loan to a third-party developer of a 373 apartment home community in Washington, D.C. The unaffiliated joint venture partner is the managing member of the joint venture. The mezzanine loan is for up to $71.0 million at an interest rate of 13.5% per annum and carries a term of four years with one, 12-month extension option. The Company’s investment commitment to the joint venture is approximately $38.6 million and earns a weighted average return rate of approximately 11.0% per annum. As of September 30, 2017, the Company had contributed approximately $17.0 million to the joint venture. The Company has concluded it does not control the joint venture and accounts for it under the equity method of accounting. As of September 30, 2017 and December 31, 2016, the Company had deferred fees of $10.7 million and $9.5 million, respectively, which will be recognized through earnings over the weighted average life of the related properties, upon the disposition of the properties to a third party, or upon completion of certain development obligations. The Company recognized management fees of $2.8 million and $3.0 million for the three months ended September 30, 2017 and 2016, respectively, and $8.7 million and $8.4 million for the nine months ended September 30, 2017 and 2016, respectively, for our management of the communities held by the joint ventures and partnerships. The management fees are included in Joint venture management and other fees on the Consolidated Statements of Operations. The Company may, in the future, make additional capital contributions to certain of our joint ventures and partnerships should additional capital contributions be necessary to fund acquisitions or operations. We evaluate our investments in unconsolidated joint ventures and partnerships when events or changes in circumstances indicate that there may be an other-than-temporary decline in value. We consider various factors to determine if a decrease in the value of the investment is other-than-temporary. The Company did not recognize any other-than-temporary decreases in the value of its investments in unconsolidated joint ventures or partnerships during the three and nine months ended September 30, 2017 and 2016. Combined summary balance sheets relating to the unconsolidated joint ventures and partnerships (not just our proportionate share) are presented below as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): September 30, December 31, 2017 2016 Total real estate, net $ 2,925,111 $ 2,901,067 Cash and cash equivalents 37,794 32,503 Other assets 17,960 19,047 Total assets $ 2,980,865 $ 2,952,617 Amount due to/(from) UDR $ 2,059 $ 521 Third party debt, net 1,857,796 1,794,379 Accounts payable and accrued liabilities 68,042 66,931 Total liabilities $ 1,927,897 $ 1,861,831 Total equity $ 1,052,968 $ 1,091,326 Combined summary financial information relating to the unconsolidated joint ventures ’ and partnerships ’ operations (not just our proportionate share) is presented below for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ) : Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Total revenues $ 63,865 $ 60,366 $ 183,564 $ 173,556 Property operating expenses (24,686) (16,309) (69,356) (62,703) Real estate depreciation and amortization (25,595) (21,260) (73,712) (61,973) Operating income/(loss) 13,584 22,797 40,496 48,880 Interest expense (19,055) (17,176) (55,695) (50,360) Other income/(expense) — (10) — (14) Gain/(loss) on sale of real estate — 10,262 — 10,262 Net income/(loss) $ (5,471) $ 15,873 $ (15,199) $ 8,768
United Dominion Reality L.P. [Member]
Schedule of Equity Method Investments [Line Items]
UNCONSOLIDATED ENTITIES	4. UNCONSOLIDATED ENTITIES The DownREIT Partnership is accounted for by the Operating Partnership under the equity method of accounting and is included in Investment in unconsolidated entities on the Consolidated Balance Sheets. The Operating Partnership recognizes earnings or losses from its investments in unconsolidated entities consisting of our proportionate share of the net earnings or losses of the partnership in accordance with the Partnership Agreement. The DownREIT Partnership is a VIE as the limited partners lack substantive kick-out rights and substantive participating rights. The Operating Partnership is not the primary beneficiary of the DownREIT Partnership as it lacks the power to direct the activities that most significantly impact its economic performance and will continue to account for its interest as an equity method investment. See Note 2, Significant Accounting Policies . As of September 30, 2017, the DownREIT Partnership owned 13 communities with 6,261 apartment homes. The Operating Partnership’s investment in the DownREIT Partnership was $85.8 million and $112.9 million as of September 30, 2017 and December 31, 2016, respectively. Combined summary balance sheets relating to all of the DownREIT Partnership (not just our proportionate share) are presented below as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): September 30, December 31, 2017 2016 Total real estate, net $ 1,375,037 $ 1,413,983 Cash and cash equivalents 40 66 Note receivable from the General Partner 126,500 126,500 Other assets 4,448 4,843 Total assets $ 1,506,025 $ 1,545,392 Secured debt, net $ 439,042 $ 443,607 Other liabilities 28,969 27,571 Total liabilities 468,011 471,178 Total capital 1,038,014 1,074,214 Total liabilities and capital $ 1,506,025 $ 1,545,392 Combined summary financial information relating to all of the DownREIT Partnership (not just our proportionate share) is presented below for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ) : Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Rental income $ 33,883 $ 33,004 $ 100,809 $ 97,267 Property operating expenses (13,974) (14,232) (41,589) (42,122) Real estate depreciation and amortization (21,135) (30,704) (62,651) (91,065) Operating income/(loss) (1,226) (11,932) (3,431) (35,920) Interest expense (3,657) (3,518) (10,830) (10,783) Interest income on note receivable from the General Partner 1,192 1,192 3,525 3,551 Net income/(loss) $ (3,691) $ (14,258) $ (10,736) $ (43,152)

Debt, Net (UNITED DOMINION REAL

Debt, Net (UNITED DOMINION REALTY, L.P.)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
DEBT	6. SECURED AND UNSECURED DEBT, NET The following is a summary of our secured and unsecured debt at September 30, 2017 and December 31, 2016 ( dollars in thousands ): Principal Outstanding As of September 30, 2017 Weighted Weighted Average Average Number of September 30, December 31, Interest Years to Communities 2017 2016 Rate Maturity Encumbered Secured Debt: Fixed Rate Debt Mortgage notes payable (a) $ 397,482 $ 402,996 4.04 % 5.6 7 Fannie Mae credit facilities (b) 285,836 355,836 4.86 % 2.3 8 Deferred financing costs (1,802) (2,681) Total fixed rate secured debt, net 681,516 756,151 4.39 % 4.2 15 Variable Rate Debt Tax-exempt secured notes payable (c) 94,700 94,700 1.59 % 5.4 2 Fannie Mae credit facilities (b) 29,034 280,946 2.78 % 1.2 1 Deferred financing costs (273) (939) Total variable rate secured debt, net 123,461 374,707 1.87 % 4.4 3 Total Secured Debt, net 804,977 1,130,858 4.00 % 4.2 18 Unsecured Debt: Variable Rate Debt Borrowings outstanding under unsecured credit facility due January 2020 (d) (i) — — — % 2.3 Borrowings outstanding under unsecured commercial paper program due October 2017 (e) (i) 285,000 — 1.45 % 0.1 Borrowings outstanding under unsecured working capital credit facility due January 2019 (f) 40,717 21,350 2.13 % 1.3 Term Loan Facility due January 2021 (d) (i) 35,000 35,000 2.19 % 3.3 Fixed Rate Debt 4.25% Medium-Term Notes due June 2018 (net of discounts of $287 and $608, respectively) (i) 299,713 299,392 4.25 % 0.7 3.70% Medium-Term Notes due October 2020 (net of discounts of $24 and $30, respectively) (i) 299,976 299,970 3.70 % 3.0 1.98% Term Loan Facility due January 2021 (d) (i) 315,000 315,000 1.98 % 3.3 4.63% Medium-Term Notes due January 2022 (net of discounts of $1,536 and $1,805, respectively) (i) 398,464 398,195 4.63 % 4.3 3.75% Medium-Term Notes due July 2024 (net of discounts of $704 and $782, respectively) (i) 299,296 299,218 3.75 % 6.8 8.50% Debentures due September 2024 15,644 15,644 8.50 % 7.0 4.00% Medium-Term Notes due October 2025 (net of discounts of $551 and $602, respectively) (g) (i) 299,449 299,398 4.00 % 8.0 2.95% Medium-Term Notes due September 2026 (i) 300,000 300,000 2.95 % 8.9 3.50% Medium-Term Notes due July 2027 (net of discounts of $687 and $0, respectively) (h) (i) 299,313 — 3.50 % 9.8 Other 19 21 Deferred financing costs (13,557) (12,568) Total Unsecured Debt, net 2,874,034 2,270,620 3.45 % 4.9 Total Debt, net $ 3,679,011 $ 3,401,478 3.65 % 4.8 For purposes of classification of the above table, variable rate debt with a derivative financial instrument designated as a cash flow hedge is deemed as fixed rate debt due to the Company having effectively established a fixed interest rate for the underlying debt instrument. Our secured debt instruments generally feature either monthly interest and principal or monthly interest-only payments with balloon payments due at maturity. As of September 30, 2017, secured debt encumbered $1.7 billion or 16.8% of UDR’s total real estate owned based upon gross book value ($8.3 billion or 83.2% of UDR’s real estate owned based on gross book value is unencumbered). (a) At September 30, 2017, fixed rate mortgage notes payable are generally due in monthly installments of principal and interest and mature at various dates from May 2019 through November 2026 and carry interest rates ranging from 3.15% to 5.86%. The Company will from time to time acquire properties subject to fixed rate debt instruments. In those situations, the Company records the debt at its estimated fair value and amortizes any difference between the fair value and par value to interest expense over the life of the underlying debt instrument. During the three months ended September 30, 2017 and 2016, the Company had $0.7 million and $0.6 million, respectively, and during the nine months ended September 30, 2017 and 2016, the Company had $2.2 million and $2.1 million, respectively, of amortization of the fair market adjustment of debt assumed in the acquisition of properties,which was included in Interest expense on the Consolidated Statements of Operations. The unamortized fair market adjustment was a net premium of $9.0 million and $11.2 million at September 30, 2017 and December 31, 2016, respectively. (b) UDR had two secured credit facilities with Fannie Mae with an aggregate commitment of $314.9 million at September 30, 2017. The Fannie Mae credit facilities mature at various dates from December 201 8 through July 2020 and bear interest at floating and fixed rates. At September 30, 2017, $285.8 million of the outstanding balance was fixed and had a weighted average interest rate of 4.86% and the remaining balance of $29.0 million had a weighted average variable interest rate of 2.78%. During the nine months ended September 30, 2017, the Company prepaid $275.3 million of its secured credit facilities with borrowings under the Company’s unsecured commercial paper program and proceeds from the issuance of senior unsecured medium-term notes. The Company incurred prepayment costs of $0 and $5.8 million during the three and nine months ended September 30, 2017, respectively, which were included in Interest expense on the Consolidated Statements of Operations. Further information related to these credit facilities is as follows (dollars in thousands) : September 30, December 31, 2017 2016 Borrowings outstanding $ 314,870 $ 636,782 Weighted average borrowings during the period ended 450,581 737,802 Maximum daily borrowings during the period ended 636,782 813,544 Weighted average interest rate during the period ended 4.2 % 3.9 % Weighted average interest rate at the end of the period 4.7 % 3.8 % (c) The variable rate mortgage notes payable that secure tax-exempt housing bond issues mature in August 2019 and March 2032. Interest on these notes is payable in monthly installments. The variable rate mortgage notes have interest rates ranging from 1.59% to 1.60% as of September 30, 2017. (d) The Company has a $1.1 billion unsecured revolving credit facility (the “Revolving Credit Facility”) and a $350.0 million unsecured term loan facility (the “Term Loan Facility”). The credit agreement for these facilities (the “Credit Agreement”) allows the total commitments under the Revolving Credit Facility and the total borrowings under the Term Loan Facility to be increased to an aggregate maximum amount of up to $2.0 billion, subject to certain conditions, including obtaining commitments from any one or more lenders. The Revolving Credit Facility has a scheduled maturity date of January 31, 2020, with two six-month extension options, subject to certain conditions. The Term Loan Facility has a scheduled maturity date of January 29, 2021. Based on the Company’s current credit rating, the Revolving Credit Facility has an interest rate equal to LIBOR plus a margin of 90 basis points and a facility fee of 15 basis points, and the Term Loan Facility has an interest rate equal to LIBOR plus a margin of 95 basis points. Depending on the Company’s credit rating, the margin under the Revolving Credit Facility ranges from 85 to 155 basis points, the facility fee ranges from 12.5 to 30 basis points, and the margin under the Term Loan Facility ranges from 90 to 175 basis points. The Credit Agreement contains customary representations and warranties and financial and other affirmative and negative covenants. The Credit Agreement also includes customary events of default, in certain cases subject to customary periods to cure. The occurrence of an event of default, following the applicable cure period, would permit the lenders to, among other things, declare the unpaid principal, accrued and unpaid interest and all other amounts payable under the Credit Agreement to be immediately due and payable. The following is a summary of short-term bank borrowings under the Revolving Credit Facility at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total revolving credit facility $ 1,100,000 $ 1,100,000 Borrowings outstanding at end of period (1) — — Weighted average daily borrowings during the period ended 3,040 161,505 Maximum daily borrowings during the period ended 120,000 340,000 Weighted average interest rate during the period ended 1.6 % 1.4 % Interest rate at end of the period — % — % (1) Excludes $3.3 million and $2.9 million of letters of credit at September 30, 2017 and December 31, 2016, respectively. (e) On January 23, 2017, the Company entered into an unsecured commercial paper program. Under the terms of the program, the Company may issue unsecured commercial paper up to a maximum aggregate amount outstanding of $500.0 million. The notes are sold under customary terms in the United States commercial paper market and rank pari passu with all of the Company’s other unsecured indebtedness. The notes are fully and unconditionally guaranteed by the Operating Partnership. The following is a summary of short-term bank borrowings under the unsecured commercial paper program at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total unsecured commercial paper program $ 500,000 $ — Borrowings outstanding at end of period 285,000 — Weighted average daily borrowings during the period ended 216,174 — Maximum daily borrowings during the period ended 340,000 — Weighted average interest rate during the period ended 1.4 % — % Interest rate at end of the period 1.4 % — % (f) The Company has a working capital credit facility, which provides for a $75.0 million unsecured revolving credit facility (the “Working Capital Credit Facility”) with a scheduled maturity date of January 1, 2019. Based on the Company’s current credit rating, the Working Capital Credit Facility has an interest rate equal to LIBOR plus a margin of 90 basis points. Depending on the Company’s credit rating, the margin ranges from 85 to 155 basis points. The following is a summary of short-term bank borrowings under the Working Capital Credit Facility at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total working capital credit facility $ 75,000 $ 75,000 Borrowings outstanding at end of period 40,717 21,350 Weighted average daily borrowings during the period ended 26,258 21,936 Maximum daily borrowings during the period ended 67,799 69,633 Weighted average interest rate during the period ended 1.9 % 1.4 % Interest rate at end of the period 2.1 % 1.7 % (g) The Company previously entered into forward starting interest rate swaps to hedge against interest rate risk on $200.0 million of this debt. The all-in weighted average interest rate, inclusive of the impact of these interest rate swaps, was 4.55%. (h) On June 16, 2017, the Company issued $300.0 million of 3.50% senior unsecured medium-term notes due July 1, 2027. Interest is payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2018. The notes were priced at 99.764% of the prinicipal amount at issuance. The Company used the net proceeds for the repayment of outstanding indebtedness and for general corporate purposes. (i) The Operating Partnership is a guarantor of this debt. The aggregate maturities, including amortizing principal payments of unsecured and secured debt, of total debt for the next ten calendar years subsequent to September 30, 2017 are as follows (dollars in thousands): Total Fixed Total Variable Total Total Total Year Secured Debt Secured Debt Secured Debt Unsecured Debt Debt 2017 $ 1,133 $ — $ 1,133 $ 285,000 $ 286,133 2018 4,636 29,034 33,670 300,000 333,670 2019 249,395 67,700 317,095 40,717 357,812 2020 198,076 — 198,076 300,000 498,076 2021 1,117 — 1,117 350,000 351,117 2022 1,157 — 1,157 400,000 401,157 2023 41,245 — 41,245 — 41,245 2024 — — — 315,644 315,644 2025 127,600 — 127,600 300,000 427,600 2026 50,000 — 50,000 300,000 350,000 Thereafter — 27,000 27,000 300,000 327,000 Subtotal 674,359 123,734 798,093 2,891,361 3,689,454 Non-cash (a) 7,157 (273) 6,884 (17,327) (10,443) Total $ 681,516 $ 123,461 $ 804,977 $ 2,874,034 $ 3,679,011 (a) Includes the unamortized balance of fair market value adjustments, premiums/discounts and deferred financing costs. For the three months ended September 30, 2017 and 2016, the Company amortized $ 1.1 million and $1. 0 million, respectively, of deferred financing costs into Interest expense. For the nine months ended September 30, 2017 and 2016, the Company amortized $ 3.2 million and $ 3.5 million, respectively, of deferred financing costs into Interest expense. We were in compliance with the covenants of our debt instruments at September 30, 2017.
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
DEBT	5. DEBT, NET Our secured debt instruments generally feature either monthly interest and principal or monthly interest-only payments with balloon payments due at maturity. For purposes of classification in the following table, variable rate debt with a derivative financial instrument designated as a cash flow hedge is deemed as fixed rate debt due to the Operating Partnership having effectively established the fixed interest rate for the underlying debt instrument. Secured debt consists of the following as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): Principal Outstanding As of September 30, 2017 Weighted Weighted Average September 30, December 31, Average Years to Communities 2017 2016 Interest Rate Maturity Encumbered Fixed Rate Debt Fannie Mae credit facilities $ 133,205 $ 244,912 5.28 % 2.1 4 Deferred financing costs (320) (1,070) Total fixed rate secured debt, net 132,885 243,842 5.28 % 2.1 4 Variable Rate Debt Tax-exempt secured note payable 27,000 27,000 1.60 % 14.5 1 Fannie Mae credit facilities — 163,637 — % — — Deferred financing costs (80) (505) Total variable rate secured debt, net 26,920 190,132 1.60 % 14.5 1 Total Secured Debt, Net $ 159,805 $ 433,974 4.97 % 4.2 5 As of September 30, 2017, an aggregate commitment of $133.2 million of the General Partner’s secured credit facilities with Fannie Mae was owed by the Operating Partnership based on the ownership of the assets securing the debt. The entire commitment was outstanding at September 30, 2017. The portions of the Fannie Mae credit facilities owed by the Operating Partnership mature at various dates from October 2019 through December 2019 and bear interest at fixed rates. At September 30, 2017, the entire outstanding balance was fixed and had a weighted average interest rate of 5.28%. During the nine months ended September 30, 2017, $275.3 million of the Fannie Mae credit facilities owed by the Operating Partnership were prepaid. The Operating Partnership incurred prepayment costs of $0 and $5.8 million during the three and nine months ended September 30, 2017, respectively, which were included in Interest expense on the Consolidated Statements of Operations. The following information relates to the credit facilities owed by the Operating Partnership (dollars in thousands) : September 30, December 31, 2017 2016 Borrowings outstanding $ 133,205 $ 408,549 Weighted average borrowings during the period ended 253,394 414,759 Maximum daily borrowings during the period ended 408,549 421,001 Weighted average interest rate during the period ended 4.5 % 3.9 % Interest rate at the end of the period 5.3 % 4.0 % The Operating Partnership may from time to time acquire properties subject to fixed rate debt instruments. In those situations, management will record the secured debt at its estimated fair value and amortize any difference between the fair value and par to interest expense over the life of the underlying debt instrument. The Operating Partnership did not have any unamortized fair value adjustments associated with the fixed rate debt instruments on the Operating Partnership’s properties. Fixed Rate Debt At September 30, 2017, the General Partner had borrowings against its fixed rate facilities of $285.8 million, of which $133.2 million was owed by the Operating Partnership based on the ownership of the assets securing the debt. As of September 30, 2017, the fixed rate Fannie Mae credit facilities owed by the Operating Partnership had a weighted average fixed interest rate of 5.28%. Variable Rate Debt Tax-exempt secured note payable. The variable rate mortgage note payable that secures tax-exempt housing bond issues matures March 2032. Interest on this note is payable in monthly installments. The mortgage note payable has an interest rate of 1.60% as of September 30, 2017. Secured credit facilities. At September 30, 2017, the General Partner had borrowings against its variable rate facilities of $29.0 million, none of which was owed by the Operating Partnership based on the ownership of the assets securing the debt. The aggregate maturities of the Operating Partnership’s secured debt due during each of the next ten calendar years subsequent to September 30, 2017 are as follows (dollars in thousands): Fixed Variable Tax-Exempt Secured Credit Secured Notes Year Facilities Payable Total 2017 $ — $ — $ — 2018 — — — 2019 133,205 — 133,205 2020 — — — 2021 — — — 2022 — — — 2023 — — — 2024 — — — 2025 — — — 2026 — — — Thereafter — 27,000 27,000 Subtotal 133,205 27,000 160,205 Non-cash (a) (320) (80) (400) Total $ 132,885 $ 26,920 $ 159,805 (a) Includes the unamortized balance of fair market value adjustments, premiums/discounts, deferred hedge gains, and deferred financing costs. For the three months ended September 30, 2017 and 2016, the Operating Partnership amortized less than $0.1 million and $0.1 million, respectively, and $0. 3 million and $0. 4 million for the nine months ended September 30, 2017 and 2016, respectively, of deferred financing costs into Interest expense . Guarantor on Unsecured Debt The Operating Partnership is a guarantor on the General Partner’s unsecured revolving credit facility with an aggregate borrowing capacity of $1.1 billion and unsecured commercial paper program with an aggregate borrowing capacity of $500 million, $300 million of medium-term notes due June 2018, $300 million of medium-term notes due October 2020, a $350 million term loan facility due January 2021, $400 million of medium-term notes due January 2022, $300 million of medium-term notes due July 2024, $300 million of medium-term notes due October 2025, $300 million of medium-term notes due September 2026 and $300 million of medium-term notes due July 2027. As of September 30, 2017 and December 31, 2016, the General Partner did not have an outstanding balance under the unsecured revolving credit facility and had $285.0 million and $0, respectively, outstanding under its unsecured commercial paper program.

Related Party Transactions (UNI

Related Party Transactions (UNITED DOMINION REALTY, L.P.)	9 Months Ended
	Sep. 30, 2017
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
RELATED PARTY TRANSACTIONS	6. RELATED PARTY TRANSACTIONS Advances (To)/From the General Partner The Operating Partnership participates in the General Partner’s central cash management program, wherein all the Operating Partnership’s cash receipts are remitted to the General Partner and all cash disbursements are funded by the General Partner. In addition, other miscellaneous costs such as administrative expenses are incurred by the General Partner on behalf of the Operating Partnership. As a result of these various transactions between the Operating Partnership and the General Partner, the Operating Partnership had net Advances (to)/from the General Partner of $308.3 million and $19.7 million at September 30, 2017 and December 31, 2016, respectively, which are reflected as increases/(decreases) of capital on the Consolidated Balance Sheets. Allocation of General and Administrative Expenses The General Partner shares various general and administrative costs, employees and other overhead costs with the Operating Partnership including legal assistance, acquisitions analysis, marketing, human resources, IT, accounting, rent, supplies and advertising, and allocates these costs to the Operating Partnership first on the basis of direct usage when identifiable, with the remainder allocated based on the reasonably anticipated benefits to the parties. The general and administrative expenses allocated to the Operating Partnership by UDR were $2.7 million and $4.3 million during the three months ended September 30, 2017 and 2016, respectively, and $10.8 million and $11.8 million during the nine months ended September 30, 2017 and 2016, respectively, and are included in General and administrative on the Consolidated Statements of Operations. In the opinion of management, this method of allocation reflects the level of services received by the Operating Partnership from the General Partner. During the three months ended September 30, 2017 and 2016, the Operating Partnership reimbursed the General Partner $4.4 million and $3.1 million, respectively, and during the nine months ended September 30, 2017 and 2016, the Operating Partnership reimbursed the General Partner $11.5 million and $10.4 million, respectively, for shared services related to corporate level property management costs incurred by the General Partner. These shared costs reimbursements and related party management fees are initially recorded within the line item General and administrative on the Consolidated Statements of Operations, and a portion related to management costs is reclassified to Property management on the Consolidated Statements of Operations. (See further discussion below.) Shared Services/Management Fee The Operating Partnership self-manages its own properties and is party to an Inter-Company Employee and Cost Sharing Agreement with the General Partner. This agreement provides for reimbursements to the General Partner for the Operating Partnership’s allocable share of costs incurred by the General Partner for (a) shared services of corporate level property management employees and related support functions and costs, and (b) general and administrative costs. As discussed above, the reimbursement for shared services is classified in Property management on the Consolidated Statements of Operations. Notes Payable to the General Partner As of both September 30, 2017 and December 31, 2016, the Operating Partnership had $273.3 million of unsecured notes payable to the General Partner at annual interest rates between 4.12% and 5.34%. Certain limited partners of the Operating Partnership have provided guarantees or reimbursement agreements related to these notes payable. The guarantees were provided by the limited partners in conjunction with their contribution of properties to the Operating Partnership. The notes mature on August 31, 2021, December 31, 2023 and April 1, 2026, and interest payments are made monthly. The Operating Partnership recognized interest expense on the notes payable of $3.1 million during both the three months ended September 30, 2017 and 2016 and $9.2 million during both the nine months ended September 30, 2017 and 2016.

Fair Value of Derivatives and69

Fair Value of Derivatives and Financial Instruments (UNITED DOMINION REALTY, L.P.)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
FAIR VALUE OF DERIVATIVES AND FINANCIAL INSTRUMENTS	9. FAIR VALUE OF DERIVATIVES AND FINANCIAL INSTRUMENTS Fair value is based on the price that would be received to sell an asset or the exit price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level valuation hierarchy prioritizes observable and unobservable inputs used to measure fair value. The fair value hierarchy consists of three broad levels, which are described below: · Level 1 — Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. · Level 2 — Observable inputs other than prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated with observable market data. · Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The estimated fair values of the Company’s financial instruments either recorded or disclosed on a recurring basis as of September 30, 2017 and December 31, 2016 are summarized as follows (dollars in thousands) : Fair Value at September 30, 2017, Using Total Quoted Carrying Prices in Amount in Active Statement of Markets Significant Financial Fair Value for Identical Other Significant Position at Estimate at Assets or Observable Unobservable September 30, September 30, Liabilities Inputs Inputs 2017 2017 (Level 1) (Level 2) (Level 3) Description: Notes receivable (a) $ 18,594 $ 18,578 $ — $ — $ 18,578 Derivatives - Interest rate contracts (b) 4,350 4,350 — 4,350 — Total assets $ 22,944 $ 22,928 $ — $ 4,350 $ 18,578 Secured debt instruments - fixed rate: (c) Mortgage notes payable $ 397,482 $ 398,437 $ — $ — $ 398,437 Fannie Mae credit facilities 285,836 293,050 — — 293,050 Secured debt instruments - variable rate: (c) Tax-exempt secured notes payable 94,700 94,700 — — 94,700 Fannie Mae credit facilities 29,034 29,034 — — 29,034 Unsecured debt instruments: (c) Working capital credit facility 40,717 40,717 — — 40,717 Commercial paper program 285,000 285,000 — — 285,000 Unsecured notes 2,561,874 2,623,456 — — 2,623,456 Total liabilities $ 3,694,643 $ 3,764,394 $ — $ — $ 3,764,394 Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (d) $ 943,182 $ 943,182 $ — $ 943,182 $ — Fair Value at December 31, 2016, Using Total Quoted Carrying Prices in Amount in Active Statement of Markets Significant Financial Fair Value for Identical Other Significant Position at Estimate at Assets or Observable Unobservable December 31, December 31, Liabilities Inputs Inputs 2016 2016 (Level 1) (Level 2) (Level 3) Description: Notes receivable (a) $ 19,790 $ 19,645 $ — $ — $ 19,645 Derivatives - Interest rate contracts (b) 4,360 4,360 — 4,360 — Total assets $ 24,150 $ 24,005 $ — $ 4,360 $ 19,645 Derivatives- Interest rate contracts (b) $ 413 $ 413 $ — $ 413 $ — Secured debt instruments - fixed rate: (c) Mortgage notes payable 402,996 396,045 — — 396,045 Fannie Mae credit facilities 355,836 365,693 — — 365,693 Secured debt instruments - variable rate: (c) Tax-exempt secured notes payable 94,700 94,700 — — 94,700 Fannie Mae credit facilities 280,946 280,946 — — 280,946 Unsecured debt instruments: (c) Working capital credit facility 21,350 21,350 — — 21,350 Unsecured notes 2,261,838 2,304,492 — — 2,304,492 Total liabilities $ 3,418,079 $ 3,463,639 $ — $ 413 $ 3,463,226 Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (d) $ 909,482 $ 909,482 $ — $ 909,482 $ — (a) See Note 2, Significant Accounting Policies . (b) See Note 10, Derivatives and Hedging Activity . (c) See Note 6, Secured Debt and Unsecured Debt, Net . (d) See Note 8, Noncontrolling Interests . There were no transfers into or out of any of the levels of the fair value hierarchy during the nine months ended September 30, 2017. Financial Instruments Carried at Fair Value The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The fair values of interest rate options are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rate of the caps. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of September 30, 2017 and December 31, 2016, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. In conjunction with the FASB’s fair value measurement guidance, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership have a redemption feature and are marked to their redemption value. The redemption value is based on the fair value of the Company’s common stock at the redemption date, and therefore, is calculated based on the fair value of the Company’s common stock at the balance sheet date. Since the valuation is based on observable inputs such as quoted prices for similar instruments in active markets, redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership are classified as Level 2. Financial Instruments Not Carried at Fair Value At September 30, 2017 and December 31, 2016, the fair values of cash and cash equivalents, restricted cash, accounts receivable, prepaids, real estate taxes payable, accrued interest payable, security deposits and prepaid rent, distributions payable and accounts payable approximated their carrying values because of the short term nature of these instruments. The estimated fair values of other financial instruments were determined by the Company using available market information and appropriate valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair values. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company would realize on the disposition of the financial instruments. The use of different market assumptions or estimation methodologies may have a material effect on the estimated fair value amounts. We estimate the fair value of our notes receivable and debt instruments by discounting the remaining cash flows of the debt instrument at a discount rate equal to the replacement market credit spread plus the corresponding treasury yields. Factors considered in determining a replacement market credit spread include general market conditions, borrower specific credit spreads, time remaining to maturity, loan-to-value ratios and collateral quality, where applicable (Level 3). We record impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the undiscounted cash flows estimated to be generated by the future operation and disposition of those assets are less than the net book value of those assets. Our cash flow estimates are based upon historical results adjusted to reflect our best estimate of future market and operating conditions and our estimated holding periods. The net book value of impaired assets is reduced to fair value. Our estimates of fair value represent our best estimate based upon Level 3 inputs such as industry trends and reference to market rates and transactions. We consider various factors to determine if a decrease in the value of our investment in and advances to unconsolidated joint ventures, net is other-than-temporary. These factors include, but are not limited to, age of the venture, our intent and ability to retain our investment in the entity, the financial condition and long-term prospects of the entity, and the relationships with the other joint venture partners and its lenders. Based on the significance of the unobservable inputs, we classify these fair value measurements within Level 3 of the valuation hierarchy. The Company did not incur any other-than-temporary decrease in the value of its investments in unconsolidated joint ventures during the three and nine months ended September 30, 2017 and 2016. After determining an other-than-temporary decrease in the value of an equity method investment has occurred, we estimate the fair value of our investment by estimating the proceeds we would receive upon a hypothetical liquidation of the investment at the date of measurement. Inputs reflect management’s best estimate of what market participants would use in pricing the investment giving consideration to the terms of the joint venture agreement and the estimated discounted future cash flows to be generated from the underlying joint venture assets. The inputs and assumptions utilized to estimate the future cash flows of the underlying assets are based upon the Company’s evaluation of the economy, market trends, operating results, and other factors, including judgments regarding costs to complete any construction activities, lease up and occupancy rates, rental rates, inflation rates, capitalization rates utilized to estimate the projected cash flows at the disposition, and discount rates.
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
FAIR VALUE OF DERIVATIVES AND FINANCIAL INSTRUMENTS	7. FAIR VALUE OF DERIVATIVES AND FINANCIAL INSTRUMENTS Fair value is based on the price that would be received to sell an asset or the exit price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level valuation hierarchy prioritizes observable and unobservable inputs used to measure fair value. The fair value hierarchy consists of three broad levels, which are described below: · Level 1 — Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. · Level 2 — Observable inputs other than prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated with observable market data. · Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The estimated fair values of the Operating Partnership’s financial instruments either recorded or disclosed on a recurring basis as of September 30, 2017 and December 31, 2016 are summarized as follows (dollars in thousands) : Fair Value at September 30, 2017, Using Total Quoted Carrying Prices in Amount in Active Statement of Markets Significant Financial Fair Value for Identical Other Significant Position at Estimate at Assets or Observable Unobservable September 30, September 30, Liabilities Inputs Inputs 2017 2017 (Level 1) (Level 2) (Level 3) Description: Secured debt instruments - fixed rate: (a) Fannie Mae credit facilities $ 133,205 $ 137,663 $ — $ — $ 137,663 Secured debt instruments - variable rate: (a) Tax-exempt secured notes payable 27,000 27,000 — — 27,000 Total liabilities $ 160,205 $ 164,663 $ — $ — $ 164,663 Fair Value at December 31, 2016, Using Quoted Total Prices in Carrying Active Amount in Markets Statement of for Identical Significant Financial Fair Value Assets Other Significant Position at Estimate at or Observable Unobservable December 31, December 31, Liabilities Inputs Inputs 2016 2016 (Level 1) (Level 2) (Level 3) Description: Derivatives - Interest rate contracts (b) $ 1 $ 1 $ — $ 1 $ — Total assets $ 1 $ 1 $ — $ 1 $ — Secured debt instruments - fixed rate: (a) Fannie Mae credit facilities $ 244,912 $ 251,664 $ — $ — $ 251,664 Secured debt instruments - variable rate: (a) — Tax-exempt secured notes payable 27,000 27,000 — — 27,000 Fannie Mae credit facilities 163,637 163,637 — — 163,637 Total liabilities $ 435,549 $ 442,301 $ — $ — $ 442,301 (a) See Note 5, Debt, Net. (b) See Note 8, Derivatives and Hedging Activity. There were no transfers into or out of any of the levels of the fair value hierarchy during the nine months ended September 30, 2017. Financial Instruments Carried at Fair Value The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The fair values of interest rate options are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rate of the caps. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. The General Partner, on behalf of the Operating Partnership, incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Operating Partnership has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although the General Partner, on behalf of the Operating Partnership, has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of September 30, 2017 and December 31, 2016, the Operating Partnership has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Operating Partnership has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. In conjunction with the FASB’s fair value measurement guidance, the Operating Partnership made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. Financial Instruments Not Carried at Fair Value As of September 30, 2017, the fair values of cash and cash equivalents, restricted cash, accounts receivable, prepaids, real estate taxes payable, accrued interest payable, security deposits and prepaid rent, distributions payable and accounts payable approximated their carrying values because of the short term nature of these instruments. The estimated fair values of other financial instruments were determined by the General Partner using available market information and appropriate valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair values. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Operating Partnership would realize on the disposition of the financial instruments. The use of different market assumptions or estimation methodologies may have a material effect on the estimated fair value amounts. The General Partner estimates the fair value of our debt instruments by discounting the remaining cash flows of the debt instrument at a discount rate equal to the replacement market credit spread plus the corresponding treasury yields. Factors considered in determining a replacement market credit spread include general market conditions, borrower specific credit spreads, time remaining to maturity, loan-to-value ratios and collateral quality (Level 3). The Operating Partnership records impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the undiscounted cash flows estimated to be generated by the future operation and disposition of those assets are less than the net book value of those assets. Cash flow estimates are based upon historical results adjusted to reflect management’s best estimate of future market and operating conditions and our estimated holding periods. The net book value of impaired assets is reduced to fair value. The General Partner’s estimates of fair value represent management’s estimates based upon Level 3 inputs such as industry trends and reference to market rates and transactions. The Operating Partnership did not incur any other-than-temporary decrease in the value of its investments in unconsolidated entities during the three and nine months ended September 30, 2017 and 2016.

Derivatives and Hedging Activ70

Derivatives and Hedging Activity (UNITED DOMINION REALTY, L.P.)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
DERIVATIVES AND HEDGING ACTIVITY	10. DERIVATIVES AND HEDGING ACTIVITY Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its debt funding and through the use of derivative financial instruments. Specifically, the Company may enter into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps and caps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate caps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in Accumulated other comprehensive income/(loss), net in the Consolidated Balance Sheets and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the three and nine months ended September 30, 2017 and 2016, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During the three months ended September 30, 2017, the Company recorded no ineffectiveness to earnings and during the nine months ended September 30, 2017, recognized a loss of $0.1 million reclassified from Accumulated OCI to Interest expense due to the de-designation of cash flow hedges. During the three and nine months ended September 30, 2016, the Company recorded no ineffectiveness to earnings. Amounts reported in Accumulated other comprehensive income/(loss), net in the Consolidated Balance Sheets related to derivatives that will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. Through September 30, 2018, the Company estimates that an additional $0.2 million will be reclassified as a decrease to interest expense. As of September 30, 2017, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk ( dollars in thousands ): Number of Product Instruments Notional Interest rate swaps 4 $ 315,000 Interest rate caps 1 $ 65,197 Derivatives not designated as hedges are not speculative and are used to manage the Company’s exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of GAAP. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings and resulted in a loss of less than $0.1 million for the three and nine months ended September 30, 2017 and 2016. As of September 30, 2017, the Company had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships ( dollars in thousands ): Number of Product Instruments Notional Interest rate caps 3 $ 271,076 Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheet The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): Asset Derivatives Liability Derivatives (included in Other assets ) (included in Other liabilities ) Fair Value at: Fair Value at: September 30, December 31, September 30, December 31, 2017 2016 2017 2016 Derivatives designated as hedging instruments: Interest rate products $ 4,350 $ 4,359 $ — $ 413 Derivatives not designated as hedging instruments: Interest rate products $ — $ 1 $ — $ — Tabular Disclosure of the Effect of Derivative Instruments on the Consolidated Statements of Operations The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ): Gain/(Loss) Recognized in Gain/(Loss) Reclassified Interest expense Unrealized holding gain/(loss) from Accumulated OCI into (Ineffective Portion and Recognized in OCI Interest expense Amount Excluded from (Effective Portion) (Effective Portion) Effectiveness Testing) Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 2017 2016 Three Months Ended September 30, Interest rate products $ 131 $ 1,090 $ (119) $ (914) $ — $ — Nine Months Ended September 30, Interest rate products $ 256 $ (1,684) $ (1,192) $ (2,792) $ (136) $ — Gain/(Loss) Recognized in Interest income and other income/(expense), net Derivatives Not Designated as Hedging Instruments 2017 2016 Three Months Ended September 30, Interest rate products $ — $ (1) Nine Months Ended September 30, Interest rate products $ (1) $ (4) Credit-risk-related Contingent Features The Company has agreements with some of its derivative counterparties that contain a provision where (1) if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations; or (2) the Company could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Company’s default on the indebtedness. Certain of the Company’s agreements with its derivative counterparties contain provisions where, if there is a change in the Company’s financial condition that materially changes the Company’s creditworthiness in an adverse manner, the Company may be required to fully collateralize its obligations under the derivative instrument. At September 30, 2017 and December 31, 2016, no cash collateral was posted or required to be posted by the Company or by a counterparty. The Company also has an agreement with a derivative counterparty that incorporates the loan and financial covenant provisions of the Company’s indebtedness with a lender affiliate of the derivative counterparty. Failure to comply with these covenant provisions would result in the Company being in default on any derivative instrument obligations covered by the applicable agreement. The Company has certain agreements with some of its derivative counterparties that contain a provision where, in the event of default by the Company or the counterparty, the right of setoff may be exercised. Any amount payable to one party by the other party may be reduced by its setoff against any amounts payable by the other party. Events that give rise to default by either party may include, but are not limited to, the failure to pay or deliver payment under the derivative agreement, the failure to comply with or perform under the derivative agreement, bankruptcy, a merger without assumption of the derivative agreement, or in a merger, a surviving entity’s creditworthiness is materially weaker than the original party to the derivative agreement. As of September 30, 2017, the fair value of derivatives was in a net asset position, which includes accrued interest but excludes any adjustment for nonperformance risk related to these agreements, of $4.4 million. As of September 30, 2017, the Company has not posted any collateral related to these agreements. Tabular Disclosure of Offsetting Derivatives The Company has elected not to offset derivative positions in the consolidated financial statements. The tables below present the effect on its financial position had the Company made the election to offset its derivative positions as of September 30, 2017 and December 31, 2016 (dollars in thousands): Gross Net Amounts of Gross Amounts Not Offset Amounts Assets in the Consolidated Gross Offset in the Presented in the Balance Sheet Amounts of Consolidated Consolidated Cash Recognized Balance Balance Sheets Financial Collateral Offsetting of Derivative Assets Assets Sheets (a) Instruments Received Net Amount September 30, 2017 $ 4,350 $ — $ 4,350 $ — $ — $ 4,350 December 31, 2016 $ 4,360 $ — $ 4,360 $ (221) $ — $ 4,139 (a) Amounts reconcile to the aggregate fair value of derivative assets in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote. Gross Net Amounts of Gross Amounts Not Offset Amounts Liabilities in the Consolidated Gross Offset in the Presented in the Balance Sheet Amounts of Consolidated Consolidated Cash Recognized Balance Balance Sheets Financial Collateral Offsetting of Derivative Liabilities Liabilities Sheets (a) Instruments Posted Net Amount September 30, 2017 $ — $ — $ — $ — $ — $ — December 31, 2016 $ 413 $ — $ 413 $ (221) $ — $ 192 (a) Amounts reconcile to the aggregate fair value of derivative liabilities in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote .
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
DERIVATIVES AND HEDGING ACTIVITY	8. DERIVATIVES AND HEDGING ACTIVITY Risk Management Objective of Using Derivatives The Operating Partnership is exposed to certain risks arising from both its business operations and economic conditions. The General Partner principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The General Partner manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and through the use of derivative financial instruments. Specifically, the General Partner enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The General Partner’s and the Operating Partnership’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the General Partner’s known or expected cash payments principally related to the General Partner’s borrowings. Cash Flow Hedges of Interest Rate Risk The General Partner’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the General Partner primarily uses interest rate swaps and caps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the General Partner making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate caps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up front premium. A portion of the General Partner’s interest rate derivatives are owed by the Operating Partnership based on the General Partner’s underlying debt instruments owed by the Operating Partnership. (See Note 5, Debt, Net. ) The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in Accumulated other comprehensive income/(loss), net in the Consolidated Balance Sheets and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the three and nine months ended September 30, 2017 and 2016, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During the three months ended September 30, 2017, the Operating Partnership recorded no ineffectiveness to earnings and during the nine months ended September 30, 2017 recognized a loss of $0.1 million reclassified from Accumulated other comprehensive income/(loss), net to Interest expense due to the de-designation of a cash flow hedge. During the three and nine months ended September 30, 2016, the Operating Partnership recorded no gain or loss from ineffectiveness. Amounts reported in Accumulated other comprehensive income/(loss), net related to derivatives will be reclassified to interest expense as interest payments are made on the General Partner’s variable-rate debt that is owed by the Operating Partnership. As of September 30, 2017, no derivatives designated as cash flow hedges were held by the Operating Partnership. As a result, through September 30, 2018, we estimate that no amounts will be reclassified as an increase to interest expense. Derivatives not designated as hedges are not speculative and are used to manage the Operating Partnership’s exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of GAAP. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings and resulted in a loss of less than $0.1 million for the three and nine months ended September 30, 2017 and 2016. As of September 30, 2017, we had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships ( dollars in thousands ): Number of Product Instruments Notional Interest rate caps 3 $ 170,074 Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets The table below presents the fair value of the Operating Partnership’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): Asset Derivatives Liability Derivatives (included in Other assets) (Included in Other liabilities) Fair Value at: Fair Value at: September 30, December 31, September 30, December 31, 2017 2016 2017 2016 Derivatives not designated as hedging instruments: Interest rate products $ — $ 1 $ — $ — Tabular Disclosure of the Effect of Derivative Instruments on the Consolidated Statements of Operations The tables below present the effect of the derivative financial instruments on the Consolidated Statements of Operations for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ): Gain/(Loss) Recognized Unrealized holding Gain/(Loss) Reclassified in Interest expense gain/(loss) Recognized in from Accumulated OCI into (Ineffective Portion and OCI Interest expense Amount Excluded from (Effective Portion) (Effective Portion) Effectiveness Testing) Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 2017 2016 Three Months Ended September 30, Interest rate products $ — $ (1) $ — $ (3) $ — $ — Nine Months Ended September 30, Interest rate products $ — $ (4) $ — $ (6) $ (106) $ — Gain/(Loss) Recognized in Interest income and other income/(expense), net Derivatives Not Designated as Hedging Instruments 2017 2016 Three Months Ended September 30, Interest rate products $ — $ (1) Nine Months Ended September 30, Interest rate products $ (1) $ (4) Credit-risk-related Contingent Features The General Partner has agreements with some of its derivative counterparties that contain a provision where (1) if the General Partner defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the General Partner could also be declared in default on its derivative obligations; or (2) the General Partner could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the General Partner’s default on the indebtedness. Certain of the General Partner’s agreements with its derivative counterparties contain provisions where if there is a change in the General Partner’s financial condition that materially changes the General Partner’s creditworthiness in an adverse manner, the General Partner may be required to fully collateralize its obligations under the derivative instrument. At September 30, 2017 and December 31, 2016, no cash collateral was posted or required to be posted by the General Partner or by a counterparty. The General Partner also has an agreement with a derivative counterparty that incorporates the loan and financial covenant provisions of the General Partner’s indebtedness with a lender affiliate of the derivative counterparty. Failure to comply with these covenant provisions would result in the General Partner being in default on any derivative instrument obligations covered by the agreement. The General Partner has certain agreements with some of its derivative counterparties that contain a provision where in the event of default by the General Partner or the counterparty, the right of setoff may be exercised. Any amount payable to one party by the other party may be reduced by its setoff against any amounts payable by the other party. Events that give rise to default by either party may include, but are not limited to, the failure to pay or deliver payment under the derivative agreement, the failure to comply with or perform under the derivative agreement, bankruptcy, a merger without assumption of the derivative agreement, or in a merger, a surviving entity’s creditworthiness is materially weaker than the original party to the derivative agreement. As of September 30, 2017, the fair value of derivatives was in a net asset position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements, of less than $0.1 million. As of September 30, 2017, the General Partner has not posted any collateral related to these agreements. The General Partner has elected not to offset derivative positions in the consolidated financial statements. The table below presents the effect on the Operating Partnership’s financial position had the General Partner made the election to offset its derivative positions as of September 30, 2017 and December 31, 2016: Gross Gross Amounts Not Offset Amounts Net Amounts of in the Consolidated Gross Offset in the Assets Balance Sheets Amounts of Consolidated Presented in the Cash Recognized Balance Consolidated Financial Collateral Assets Sheets Balance Sheets (a) Instruments Received Net Amount September 30, 2017 $ — — — $ — $ — $ — December 31, 2016 $ 1 $ — $ 1 $ — $ — $ 1 (a) Amounts reconcile to the aggregate fair value of derivative assets in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote. Gross Gross Amounts Not Offset Amounts Net Amounts of in the Consolidated Gross Offset in the Liabilities Balance Sheets Amounts of Consolidated Presented in the Cash Recognized Balance Consolidated Financial Collateral Liabilities Sheets Balance Sheets (a) Instruments Posted Net Amount September 30, 2017 $ — $ — $ — $ — $ — $ — December 31, 2016 $ — $ — $ — $ — $ — $ — (a) Amounts reconcile to the aggregate fair value of derivative liabilities in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote.

Capital Structure (UNITED DOMIN

Capital Structure (UNITED DOMINION REALTY, L.P.)	9 Months Ended
	Sep. 30, 2017
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
CAPITAL STRUCTURE	9. CAPITAL STRUCTURE General Partnership Units The General Partner has complete discretion to manage and control the operations and business of the Operating Partnership, which includes but is not limited to the acquisition and disposition of real property, construction of buildings and making capital improvements, and the borrowing of funds from outside lenders or UDR and its subsidiaries to finance such activities. The General Partner can generally authorize, issue, sell, redeem or purchase any OP Unit or securities of the Operating Partnership without the approval of the limited partners. The General Partner can also approve, with regard to the issuances of OP Units, the class or one or more series of classes, with designations, preferences, participating, optional or other special rights, powers and duties including rights, powers and duties senior to limited partnership interests without approval of any limited partners except holders of Class A Limited Partnership Units. There were 110,883 General Partnership units outstanding at September 30, 2017 and December 31, 2016, all of which were held by UDR. Limited Partnership Units As of September 30, 2017 and December 31, 2016, there were 183,240,041 and 183,167,815, respectively, of limited partnership units outstanding, of which 1,873,332 were Class A Limited Partnership Units. UDR owned 174,126,805, or 95.0%, and 174,119,201, or 95.1%, of OP Units outstanding at September 30, 2017 and December 31, 2016, respectively, of which 121,661 were Class A Limited Partnership Units. The remaining 9,113,236, or 5.0%, and 9,048,614, or 4.9%, of OP Units outstanding were held by non-affiliated partners at September 30, 2017 and December 31, 2016, respectively, of which 1,751,671 were Class A Limited Partnership Units. Subject to the terms of the Operating Partnership Agreement, the limited partners have the right to require the Operating Partnership to redeem all or a portion of the OP Units held by the limited partner at a redemption price equal to and in the form of the Cash Amount (as defined in the Operating Partnership Agreement), provided that such OP Units have been outstanding for at least one year. UDR, as general partner of the Operating Partnership, may, in its sole discretion, purchase the OP Units by paying to the limited partner either the Cash Amount or the REIT Share Amount (generally one share of common stock of UDR for each OP Unit), as defined in the Operating Partnership Agreement. The non-affiliated limited partners’ capital is adjusted to redemption value at the end of each reporting period with the corresponding offset against UDR’s limited partner capital account based on the redemption rights noted above. The aggregate value upon redemption of the then-outstanding OP Units held by limited partners was $346.6 million and $330.1 million as of September 30, 2017 and December 31, 2016, respectively, based on the value of UDR’s common stock at each period end. A limited partner has no right to receive any distributions from the Operating Partnership on or after the date of redemption of its OP Units. Class A Limited Partnership Units Class A Limited Partnership Units have a cumulative, annual, non-compounded preferred return, which is equal to 8% based on a value of $16.61 per Class A Limited Partnership Unit. Holders of the Class A Limited Partnership Units exclusively possess certain voting rights. The Operating Partnership may not do the following without approval of the holders of the Class A Limited Partnership Units: (i) increase the authorized or issued amount of Class A Limited Partnership Units, (ii) reclassify any other partnership interest into Class A Limited Partnership Units, (iii) create, authorize or issue any obligations or security convertible into or the right to purchase Class A Limited Partnership Units, (iv) enter into a merger or acquisition, or (v) amend or modify the Operating Partnership Agreement in a manner that adversely affects the relative rights, preferences or privileges of the Class A Limited Partnership Units. The following table shows OP Units outstanding and OP Unit activity as of and for the nine months ended September 30, 2017: UDR, Inc. Class A Class A Limited Limited Limited Limited General Partners Partners Partner Partner Partner Total Ending balance at December 31, 2016 1,751,671 7,296,943 173,997,540 121,661 110,883 183,278,698 Vesting of LTIP Units — 72,226 — — — 72,226 OP redemptions for UDR stock — (7,604) 7,604 — — — Ending balance at September 30, 2017 1,751,671 7,361,565 174,005,144 121,661 110,883 183,350,924 LTIP Units UDR grants long-term incentive plan units (“LTIP Units”) to certain employees and non-employee directors. The LTIP Units represent an ownership interest in the Operating Partnership and have voting and distribution rights consistent with OP Units. The LTIP Units are subject to the terms of UDR’s long-term incentive plan. Two classes of LTIP Units are granted, Class 1 LTIP Units and Class 2 LTIP Units. Class 1 LTIP Units are granted to non-employee directors and vest after one year. Class 2 LTIP Units are granted to certain employees and vest over a period from one to three years subject to certain performance and market conditions being achieved. Vested LTIP Units may be converted into OP Units provided that such LTIP Units have been outstanding for at least two years from the date of grant. Allocation of Profits and Losses Profit of the Operating Partnership is allocated in the following order: (i) to the General Partner and the Limited Partners in proportion to and up to the amount of cash distributions made during the year, and (ii) to the General Partner and Limited Partners in accordance with their percentage interests. Losses and depreciation and amortization expenses, non-recourse liabilities are allocated to the General Partner and Limited Partners in accordance with their percentage interests. Losses allocated to the Limited Partners are capped to the extent that such an allocation would not cause a deficit in the Limited Partners’ capital account. Such losses are, therefore, allocated to the General Partner. If any Partner’s capital balance were to fall into a deficit, any income and gains are allocated to each Partner sufficient to eliminate its negative capital balance.

Commitments and Contingencies72

Commitments and Contingencies (UNITED DOMINION REALTY, L.P.) Commitments and Contingencies (UNITED DOMINION REALTY, L.P.)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
COMMITMENTS AND CONTINGENCIES	12. COMMITMENTS AND CONTINGENCIES Commitments Real Estate Under Development The following summarizes the Company’s real estate commitments at September 30, 2017 ( dollars in thousands ): Expected Average Number of Costs Incurred to Costs Ownership Properties Date (a) to Complete Stake Wholly-owned — under development 2 $ 534,317 (b) $ 182,183 100 % Wholly-owned — redevelopment 1 8,006 (b) 1,494 100 % Joint ventures: Unconsolidated joint ventures 5 463,682 36,263 (c) 50 % Participating loan investments 1 93,983 (d) — — % Preferred equity investments 5 80,143 (e) 58,194 (f) 48 % (g) Other investments 1 17,812 35,747 (h) — % Total $ 1,197,943 $ 313,881 (a) Represents 100% of project costs incurred as of September 30, 2017. (b) Costs incurred as of September 30, 2017 include $ 38.3 million and $ 1.5 million of accrued fixed assets for development and redevelopment, respectively. (c) Represents UDR’s proportionate share of expected remaining costs to complete the developments. (d) Represents the participating loan balance funded as of September 30, 2017. On October 5, 2017, the Company acquired the Steele Creek community for a purchase price of approximately $141.5 million (see Note 3, Real Estate Owned ). (e) Represents UDR’s investment in the West Coast Development Joint Ventures, 1532 Harrison and 1200 Broadway for the properties under development as of September 30, 2017. (f) Represents UDR’s remaining commitment for 1532 Harrison and 1200 Broadway. (g) Represents UDR’s average ownership stake in the West Coast Development Joint Ventures only and does not include UDR’s preferred equity interest in 1532 Harrison and 1200 Broadway. (h) Represents UDR’s remaining commitment for The Portals and other investment ventures. Contingencies Litigation and Legal Matters The Company is subject to various legal proceedings and claims arising in the ordinary course of business. The Company cannot determine the ultimate liability with respect to such legal proceedings and claims at this time. The Company believes that such liability, to the extent not provided for through insurance or otherwise, will not have a material adverse effect on our financial condition, results of operations or cash flow.
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
COMMITMENTS AND CONTINGENCIES	10. COMMITMENTS AND CONTINGENCIES Contingencies Litigation and Legal Matters The Operating Partnership is subject to various legal proceedings and claims arising in the ordinary course of business. The Operating Partnership cannot determine the ultimate liability with respect to such legal proceedings and claims at this time. The General Partner believes that such liability, to the extent not provided for through insurance or otherwise, will not have a material adverse effect on the Operating Partnership’s financial condition, results of operations or cash flow.

Reportable Segments (UNITED DOM

Reportable Segments (UNITED DOMINION REALTY, L.P.)	9 Months Ended
	Sep. 30, 2017
REPORTABLE SEGMENTS	13. REPORTABLE SEGMENTS GAAP guidance requires that segment disclosures present the measure(s) used by the chief operating decision maker to decide how to allocate resources and for purposes of assessing such segments’ performance. UDR’s chief operating decision maker is comprised of several members of its executive management team who use several generally accepted industry financial measures to assess the performance of the business for our reportable operating segments. UDR owns and operates multifamily apartment communities that generate rental and other property related income through the leasing of apartment homes to a diverse base of tenants. The primary financial measures for UDR’s apartment communities are rental income and net operating income (“NOI”). Rental income represents gross market rent less adjustments for concessions, vacancy loss and bad debt. NOI is defined as rental income less direct property rental expenses. Rental expenses include real estate taxes, insurance, personnel, utilities, repairs and maintenance, administrative and marketing. Excluded from NOI is property management expense, which is calculated as 2.75% of property revenue to cover the regional supervision and accounting costs related to consolidated property operations, and land rent. UDR’s chief operating decision maker utilizes NOI as the key measure of segment profit or loss. UDR’s two reportable segments are Same-Store Communities and Non-Mature Communities/Other : · Same-Store Communities represent those communities acquired, developed, and stabilized prior to July 1, 2016 (for quarter-to-date comparison) and January 1, 2016 (for year-to-date comparison) and held as of September 30, 2017. A comparison of operating results from the prior year is meaningful as these communities were owned and had stabilized occupancy and operating expenses as of the beginning of the prior period, there is no plan to conduct substantial redevelopment activities, and the community is not held for disposition within the current year. A community is considered to have stabilized occupancy once it achieves 90% occupancy for at least three consecutive months. · Non-Mature Communities/Other represent those communities that do not meet the criteria to be included in Same-Store Communities , including, but not limited to, recently acquired, developed and redeveloped communities, and the non-apartment components of mixed use properties. Management evaluates the performance of each of our apartment communities on a Same-Store Community and Non-Mature Community/Other basis, as well as individually and geographically. This is consistent with the aggregation criteria under GAAP as each of our apartment communities generally has similar economic characteristics, facilities, services, and tenants. Therefore, the Company’s reportable segments have been aggregated by geography in a manner identical to that which is provided to the chief operating decision maker. All revenues are from external customers and no single tenant or related group of tenants contributed 10% or more of UDR’s total revenues during the three and nine months ended September 30, 2017 and 2016. The following table details rental income and NOI for UDR’s reportable segments for the three and nine months ended September 30, 2017 and 2016, and reconciles NOI to Net Income/(Loss) Attributable to UDR, Inc. in the Consolidated Statements of Operations (dollars in thousands) : Three Months Ended Nine Months Ended September 30, (a) September 30, (b) 2017 2016 2017 2016 Reportable apartment home segment rental income Same-Store Communities West Region $ 84,287 $ 80,975 $ 249,730 $ 238,948 Mid-Atlantic Region 57,061 55,903 157,010 152,661 Northeast Region 38,162 37,211 113,814 110,420 Southeast Region 29,297 28,150 87,103 82,989 Southwest Region 10,816 10,453 32,181 30,815 Non-Mature Communities/Other 28,641 27,563 94,355 92,547 Total segment and consolidated rental income $ 248,264 $ 240,255 $ 734,193 $ 708,380 Reportable apartment home segment NOI Same-Store Communities West Region $ 62,939 $ 61,510 $ 187,493 $ 179,473 Mid-Atlantic Region 39,479 37,958 108,965 104,150 Northeast Region 26,100 26,379 80,151 79,721 Southeast Region 20,712 18,882 60,432 56,759 Southwest Region 6,429 6,415 19,722 19,090 Non-Mature Communities/Other 19,062 19,212 64,064 62,612 Total segment and consolidated NOI 174,721 170,356 520,827 501,805 Reconciling items: Joint venture management and other fees 2,827 2,997 8,718 8,473 Property management (6,827) (6,607) (20,190) (19,480) Other operating expenses (1,950) (1,636) (6,010) (5,280) Real estate depreciation and amortization (107,171) (105,802) (320,653) (317,078) General and administrative (12,467) (11,826) (36,976) (36,505) Casualty-related (charges)/recoveries, net (2,056) (205) (3,749) (1,834) Other depreciation and amortization (1,585) (1,526) (4,760) (4,565) Income/(loss) from unconsolidated entities 1,819 15,285 11,591 16,289 Interest expense (30,095) (31,954) (94,500) (93,736) Interest income and other income/(expense), net 481 478 1,423 1,449 Tax (provision)/benefit, net (127) (94) (825) 711 Gain/(loss) on sale of real estate owned, net of tax — — 2,132 10,385 Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (1,415) (2,459) (4,607) (4,974) Net (income)/loss attributable to noncontrolling interests 35 (51) (107) (365) Net income/(loss) attributable to UDR, Inc. $ 16,190 $ 26,956 $ 52,314 $ 55,295 (a) Same-Store Community population consisted of 36,540 apartment homes. (b) Same-Store Community population consisted of 35,689 apartment homes. The following table details the assets of UDR’s reportable segments as of September 30, 2017 and December 31, 2016 (dollars in thousands) : September 30, December 31, 2017 2016 Reportable apartment home segment assets: Same-Store Communities: West Region $ 2,964,637 $ 2,938,073 Mid-Atlantic Region 2,440,929 2,427,948 Northeast Region 1,863,595 1,857,193 Southeast Region 757,135 746,762 Southwest Region 289,123 283,260 Non-Mature Communities/Other 1,675,191 1,362,517 Total segment assets 9,990,610 9,615,753 Accumulated depreciation (3,237,588) (2,923,625) Total segment assets — net book value 6,753,022 6,692,128 Reconciling items: Cash and cash equivalents 1,788 2,112 Restricted cash 20,413 19,994 Notes receivable, net 18,594 19,790 Investment in and advances to unconsolidated joint ventures, net 839,864 827,025 Other assets 127,024 118,535 Total consolidated assets $ 7,760,705 $ 7,679,584 Capital expenditures related to our Same-Store Communities totaled $24.8 million and $25.5 million for the three months ended September 30, 2017 and 2016, respectively, and $63.8 million and $62.0 million for the nine months ended September 30, 2017 and 2016, respectively. Capital expenditures related to our Non-Mature Communities/Other totaled $0.8 million and $1.5 million for the three months ended September 30, 2017 and 2016, respectively, and $3.1 million and $6.5 million for the nine months ended September 30, 2017 and 2016, respectively. Markets included in the above geographic segments are as follows: i. West Region — San Francisco, Orange County, Seattle, Los Angeles, Monterey Peninsula, Other Southern California and Portland ii. Mid-Atlantic Region — Metropolitan D.C., Richmond and Baltimore iii. Northeast Region — New York and Boston iv. Southeast Region — Orlando, Nashville, Tampa and Other Florida v. Southwest Region — Dallas and Austin
United Dominion Reality L.P. [Member]
REPORTABLE SEGMENTS	11. REPORTABLE SEGMENTS GAAP guidance requires that segment disclosures present the measure(s) used by the chief operating decision maker to decide how to allocate resources and for purposes of assessing such segments’ performance. The Operating Partnership has the same chief operating decision maker as that of its parent, the General Partner. The chief operating decision maker consists of several members of UDR’s executive management team who use several generally accepted industry financial measures to assess the performance of the business for our reportable operating segments. The Operating Partnership owns and operates multifamily apartment communities throughout the United States that generate rental and other property related income through the leasing of apartment homes to a diverse base of tenants. The primary financial measures of the Operating Partnership’s apartment communities are rental income and net operating income (“NOI”), and are included in the chief operating decision maker’s assessment of the Operating Partnership’s performance on a consolidated basis. Rental income represents gross market rent less adjustments for concessions, vacancy loss and bad debt. NOI is defined as total revenues less direct property operating expenses. Rental expenses include real estate taxes, insurance, personnel, utilities, repairs and maintenance, administrative and marketing. Excluded from NOI are property management costs, which are the Operating Partnership’s allocable share of costs incurred by the General Partner for shared services of corporate level property management employees and related support functions and costs. The chief operating decision maker of the General Partner utilizes NOI as the key measure of segment profit or loss. The Operating Partnership’s two reportable segments are Same-Store Communities and Non-Mature Communities/Other: · Same-Store Communities represent those communities acquired, developed, and stabilized prior to July 1, 2016 (for quarter-to-date comparison) and January 1, 2016 (for the year-to-date comparison) and held as of September 30, 2017. A comparison of operating results from the prior year is meaningful as these communities were owned and had stabilized occupancy and operating expenses as of the beginning of the prior period, there is no plan to conduct substantial redevelopment activities, and the community is not held for disposition within the current year. A community is considered to have stabilized occupancy once it achieves 90% occupancy for at least three consecutive months. · Non-Mature Communities/Other represent those communities that do not meet the criteria to be included in Same-Store Communities , including, but not limited to, recently acquired, developed and redeveloped communities, and the non-apartment components of mixed use properties. Management of the General Partner evaluates the performance of each of the Operating Partnership’s apartment communities on a Same-Store Community and Non-Mature Community/Other basis, as well as individually and geographically. This is consistent with the aggregation criteria under GAAP as each of our apartment communities generally has similar economic characteristics, facilities, services, and tenants. Therefore, the Operating Partnership’s reportable segments have been aggregated by geography in a manner identical to that which is provided to the chief operating decision maker. All revenues are from external customers and no single tenant or related group of tenants contributed 10% or more of the Operating Partnership’s total revenues during the three and nine months ended September 30, 2017 and 2016. The following table details rental income and NOI for the Operating Partnership’s reportable segments for the three and nine months ended September 30, 2017 and 2016, and reconciles NOI to Net income/(loss) attributable to OP unitholders in the Consolidated Statements of Operations (dollars in thousands) : Three Months Ended Nine Months Ended September 30, (a) September 30, (b) 2017 2016 2017 2016 Reportable apartment home segment rental income Same-Store Communities West Region $ 51,976 $ 49,594 $ 153,724 $ 145,833 Mid-Atlantic Region 14,657 14,371 44,203 42,945 Northeast Region 13,746 13,516 40,850 39,724 Southeast Region 12,448 12,073 37,171 35,687 Non-Mature Communities/Other 12,426 13,041 35,998 38,084 Total segment and consolidated rental income $ 105,253 $ 102,595 $ 311,946 $ 302,273 Reportable apartment home segment NOI Same-Store Communities West Region $ 39,313 $ 37,562 $ 116,720 $ 110,508 Mid-Atlantic Region 9,843 9,468 30,073 28,717 Northeast Region 9,884 10,186 30,488 30,649 Southeast Region 8,844 7,986 25,671 24,194 Non-Mature Communities/Other 8,677 9,494 25,686 27,838 Total segment and consolidated NOI 76,561 74,696 228,638 221,906 Reconciling items: Property management (2,894) (2,821) (8,578) (8,313) Other operating expenses (1,572) (1,509) (5,248) (4,528) Real estate depreciation and amortization (37,057) (36,925) (113,167) (110,769) General and administrative (4,134) (4,631) (13,760) (13,896) Casualty-related recoveries/(charges), net 43 (14) (1,701) (479) Income/(loss) from unconsolidated entities (4,782) (9,463) (14,556) (32,880) Interest expense (5,055) (7,448) (25,318) (22,631) Net (income)/loss attributable to noncontrolling interests (374) (368) (1,067) (1,062) Net income/(loss) attributable to OP unitholders $ 20,736 $ 11,517 $ 45,243 $ 27,348 (a) Same-Store Community population consisted of 15,058 apartment homes. (b) Same-Store Community population consisted of 15,058 apartment homes. The following table details the assets of the Operating Partnership’s reportable segments as of September 30, 2017 and December 31, 2016 (dollars in thousands) : September 30, December 31, 2017 2016 Reportable apartment home segment assets Same-Store Communities West Region $ 1,615,904 $ 1,596,815 Mid-Atlantic Region 654,131 655,693 Northeast Region 676,996 674,928 Southeast Region 332,154 328,729 Non-Mature Communities/Other 428,865 418,539 Total segment assets 3,708,050 3,674,704 Accumulated depreciation (1,520,305) (1,408,815) Total segment assets - net book value 2,187,745 2,265,889 Reconciling items: Cash and cash equivalents 222 756 Restricted cash 12,608 11,694 Investment in unconsolidated entities 85,783 112,867 Other assets 30,634 24,329 Total consolidated assets $ 2,316,992 $ 2,415,535 Capital expenditures related to the Operating Partnership’s Same-Store Communities totaled $10.9 million and $12.5 million for the three months ended September 30, 2017 and 2016, respectively, and $30.5 million and $29.5 million for the nine months ended September 30, 2017 and 2016, respectively. Capital expenditures related to the Operating Partnership’s Non-Mature Communities/Other totaled $0.5 million and $0.4 million for the three months ended September 30, 2017 and 2016, respectively, and $1.5 million and $1.1 million for the nine months ended September 30, 2017 and 2016, respectively. Markets included in the above geographic segments are as follows: i. West Region — San Francisco, Orange County, Seattle, Los Angeles, Monterey Peninsula, Other Southern California and Portland ii. Mid-Atlantic Region — Metropolitan, D.C. and Baltimore iii. Northeast Region — New York and Boston iv. Southeast Region — Nashville, Tampa and Other Florida

Significant Accounting Polici74

Significant Accounting Policies (UNITED DOMINION REALTY, L.P.) (Policies)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging, Targeted Improvements to Accounting for Hedging Activities . The ASU aims to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The updated standard will be effective for the Company on January 1, 2019 and must be applied using a modified retrospective approach; however, early adoption of the ASU is permitted. The Company does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017‑01, Business Combinations (Topic 805), Clarifying the Definition of a Business. The ASU changes the definition of a business to assist entities with evaluating whether a set of transferred assets is a business. As a result, the accounting for acquisitions of real estate could be impacted. The updated standard will be effective for the Company on January 1, 2018; however, early adoption of the ASU is permitted. The ASU will be applied prospectively to any transactions occurring within the period of adoption. The Company expects that the updated standard will result in fewer acquisitions of real estate meeting the definition of a business and fewer acquisition-related costs being expensed in the period incurred. In November 2016, the FASB issued ASU 2016‑18, Statement of Cash Flows (Topic 230), Restricted Cash . The ASU addresses the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. The updated standard will be effective for the Company on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Company does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU. In August 2016, the FASB issued ASU 2016‑15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments . The ASU addresses specific cash flow items with the objective of reducing existing diversity in practice, including the treatment of distributions received from equity method investees. The updated standard will be effective for the Company on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Company elected to early adopt ASU 2016‑15 in 2016 and elected to classify distributions received from equity method investees using the cumulative earnings approach. No prior period amounts required adjustment as a result of the adoption. In June 2016, the FASB issued ASU 2016‑13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The standard requires entities to estimate a lifetime expected credit loss for most financial assets, including trade and other receivables, held-to-maturity debt securities, loans and other financial instruments, and to present the net amount of the financial instrument expected to be collected. The updated standard will be effective for the Company on January 1, 2020; however, early adoption of the ASU is permitted on January 1, 2019. The Company is currently evaluating the effect that the updated standard will have on the consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016‑09, Compensation-Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting . The ASU aims to simplify the accounting for share-based payments by amending the accounting for forfeitures, statutory tax withholding requirements, classification in the statements of cash flow and income taxes. The updated standard was effective for the Company on January 1, 2017, at which time the Company prospectively began accounting for forfeitures as incurred and began applying the updated rules for statutory withholdings. As a result of adopting the ASU, the Company recorded a one-time adjustment for existing estimated forfeitures of $0.6 million as of January 1, 2017 to Distributions in Excess of Net Income on January 1, 2017. In February 2016, the FASB issued ASU No. 2016‑02, Leases . The standard amends the existing lease accounting guidance and requires lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that have a duration of one year or less) on their balance sheets. Lessees will continue to recognize lease expense in a manner similar to current accounting. For lessors, accounting for leases under the new guidance is substantially the same as in prior periods, but eliminates current real estate-specific provisions and changes the treatment of initial direct costs. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparable period presented, with an option to elect certain transition relief. Full retrospective application is prohibited. The standard will be effective for the Company on January 1, 2019; however, early adoption of the ASU is permitted. While the Company is currently evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures, we expect to adopt the guidance on its effective date, at which time we will recognize right-of-use assets and related lease liabilities on our consolidated balance sheets related to ground leases on any communities where we are the lessee. In May 2014, the FASB issued ASU No. 2014‑09, Revenue from Contracts with Customers . The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective, including industry-specific revenue guidance. The standard specifically excludes lease contracts. The ASU allows for the use of either the full or modified retrospective transition method and will be effective for the Company on January 1, 2018, at which time the Company expects to adopt the updated standard using the modified retrospective approach. However, as the majority of the Company’s revenue is from rental income related to leases, the Company does not expect the ASU to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU.
Principles of Consolidation	Principles of Consolidation The Company accounts for subsidiary partnerships, joint ventures and other similar entities in which it holds an ownership interest in accordance with the consolidation guidance. The Company first evaluates whether each entity is a variable interest entity (“VIE”). Under the VIE model, the Company consolidates an entity when it has control to direct the activities of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the voting model, the Company consolidates an entity when it controls the entity through ownership of a majority voting interest.
Discontinued operations	Discontinued Operations In accordance with GAAP, a discontinued operation represents (1) a component of an entity or group of components that has been disposed of or is classified as held for sale in a single transaction and represents a strategic shift that has or will have a major effect on an entity’s financial results, or (2) an acquired business that is classified as held for sale on the date of acquisition. A strategic shift could include a disposal of (1) a separate major line of business, (2) a separate major geographic area of operations, (3) a major equity method investment, or (4) other major parts of an entity. We record sales of real estate that do not meet the definition of a discontinued operation in Gain/(loss) on sale of real estate owned, net of tax on the Consolidated Statements of Operations.
Revenue and real estate sales gain recognition	Revenue and Real Estate Sales Gain Recognition Rental income related to leases is recognized on an accrual basis when due from residents and tenants in accordance with GAAP. Rental payments are generally due on a monthly basis and recognized when earned. The Company recognizes interest income, management and other fees and incentives when earned, and the amounts are fixed and determinable. For sale transactions meeting the requirements for full accrual profit recognition, we remove the related assets and liabilities from our Consolidated Balance Sheets and record the gain or loss in the period the transaction closes. For sale transactions that do not meet the full accrual sale criteria due to our continuing involvement, we evaluate the nature of the continuing involvement and account for the transaction under an alternate method of accounting. Unless certain limited criteria are met, non-monetary transactions, including property exchanges, are accounted for at fair value. Sales to entities in which we retain or otherwise own an interest are accounted for as partial sales. If all other requirements for recognizing profit under the full accrual method have been satisfied and no other forms of continuing involvement are present, we recognize profit proportionate to the outside interest of the buyer and defer the gain on the interest we retain. The Company recognizes any deferred gain when the property is sold to a third party. In transactions accounted for by us as partial sales, we determine if the buyer of the majority equity interest in the venture was provided a preference as to cash flows in either an operating or a capital waterfall. If a cash flow preference has been provided, we recognize profit only to the extent that proceeds from the sale of the majority equity interest exceed costs related to the entire property.
Comprehensive Income/(Loss)	Comprehensive Income/(Loss) Comprehensive income/(loss), which is defined as the change in equity during each period from transactions and other events and circumstances from nonowner sources, including all changes in equity during a period except for those resulting from investments by or distributions to stockholders, is displayed in the accompanying Consolidated Statements of Comprehensive Income/(Loss). For the three and nine months ended September 30, 2017 and 2016, the Company’s other comprehensive income/(loss) consisted of the gain/(loss) (effective portion) on derivative instruments that are designated as and qualify as cash flow hedges, (gain)/loss on derivative instruments reclassified from other comprehensive income/(loss) into earnings, and the allocation of other comprehensive income/(loss) to noncontrolling interests. The (gain)/loss on derivative instruments reclassified from other comprehensive income/(loss) is included in Interest expense on the Consolidated Statements of Operations. See Note 10, Derivatives and Hedging Activity, for further discussion. The allocation of other comprehensive income/(loss) to redeemable noncontrolling interests during the three months ended September 30, 2017 and 2016 was less than $0.1 million and $0.2 million, respectively, and during the nine months ended September 30, 2017 and 2016 was $0.1 million and $(0.4) million, respectively.
Income taxes	Income Taxes Due to the structure of the Company as a REIT and the nature of the operations for the operating properties, no provision for federal income taxes has been provided for at UDR. Historically, the Company has generally incurred only state and local excise and franchise taxes. UDR has elected for certain consolidated subsidiaries to be treated as taxable REIT subsidiaries (“TRS”). Income taxes for our TRS are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities from a change in tax rate is recognized in earnings in the period of the enactment date. The Company’s deferred tax assets are generally the result of differing depreciable lives on capitalized assets and timing of expense recognition for certain accrued liabilities. As of September 30, 2017 and December 31, 2016, UDR’s net deferred tax asset was $0.2 million and $0.6 million, respectively. GAAP defines a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. GAAP also provides guidance on derecognition, classification, interest and penalties, accounting for interim periods, disclosure and transition. The Company recognizes its tax positions and evaluates them using a two-step process. First, UDR determines whether a tax position is more likely than not (greater than 50 percent probability) to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Second, the Company will determine the amount of benefit to recognize and record the amount that is more likely than not to be realized upon ultimate settlement. UDR had no material unrecognized tax benefit, accrued interest or penalties at September 30, 2017. UDR and its subsidiaries are subject to federal income tax as well as income tax of various state and local jurisdictions. The tax years 2013 through 2016 remain open to examination by tax jurisdictions to which we are subject. When applicable, UDR recognizes interest and/or penalties related to uncertain tax positions in Tax (provision)/benefit, net on the Consolidated Statements of Operations.
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging, Targeted Improvements to Accounting for Hedging Activities . The purpose of ASU is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The updated standard will be effective for the Operating Partnership on January 1, 2019 and must be applied using a modified retrospective approach; however, early adoption of the ASU is permitted. The Operating Partnership does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017‑01, Business Combinations (Topic 805), Clarifying the Definition of a Business. The ASU changes the definition of a business to assist entities with evaluating whether a set of transferred assets is a business. As a result, the accounting for acquisitions of real estate could be impacted. The updated standard will be effective for the Operating Partnership on January 1, 2018; however, early adoption of the ASU is permitted. The ASU will be applied prospectively to any transactions occurring within the period of adoption. The Operating Partnership expects that the updated standard will result in fewer acquisitions of real estate meeting the definition of a business and fewer acquisition-related costs being expensed in the period incurred. In November 2016, the FASB issued ASU 2016‑18, Statement of Cash Flows (Topic 230), Restricted Cash . The ASU addresses the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. The updated standard will be effective for the Operating Partnership on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Operating Partnership does not expect the updated standard to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU. In August 2016, the FASB issued ASU 2016‑15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments . The ASU addresses specific cash flow items with the objective of reducing existing diversity in practice, including the treatment of distributions received from equity method investees. The updated standard will be effective for the Operating Partnership on January 1, 2018 and must be applied retrospectively to all periods presented; however, early adoption of the ASU is permitted. The Operating Partnership elected to early adopt ASU 2016‑15 in 2016. The adoption did not have an impact on the Operating Partnership’s consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016‑13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The standard requires entities to estimate a lifetime expected credit loss for most financial assets, including trade and other receivables, held-to-maturity debt securities, loans and other financial instruments, and to present the net amount of the financial instrument expected to be collected. The updated standard will be effective for the Operating Partnership on January 1, 2020; however, early adoption of the ASU is permitted on January 1, 2019. The Operating Partnership is currently evaluating the effect that the updated standard will have on the consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016‑02, Leases . The standard amends the existing lease accounting guidance and requires lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that have a duration of one year or less) on their balance sheets. Lessees will continue to recognize lease expense in a manner similar to current accounting. For lessors, accounting for leases under the new guidance is substantially the same as in prior periods, but eliminates current real estate-specific provisions and changes the treatment of initial direct costs. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparable period presented, with an option to elect certain transition relief. Full retrospective application is prohibited. The standard will be effective for the Operating Partnership on January 1, 2019; however, early adoption of the ASU is permitted. While the Operating Partnership is currently evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures, we expect to adopt the guidance on its effective date, at which time we will recognize right-of-use assets and related lease liabilities on our consolidated balance sheets related to ground leases on any communities where we are the lessee. In May 2014, the FASB issued ASU No. 2014‑09, Revenue from Contracts with Customers . The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective, including industry-specific revenue guidance. The standard specifically excludes lease contracts. The ASU allows for the use of either the full or modified retrospective transition method and will be effective for the Operating Partnership on January 1, 2018, at which time the Operating Partnership expects to adopt the updated standard using the modified retrospective approach. However, as the majority of the Operating Partnership’s revenue is from rental income related to leases, the Operating Partnership does not expect the ASU to have a material impact on the consolidated financial statements and related disclosures will be updated pursuant the requirements of the ASU.
Principles of Consolidation	Principles of Consolidation The Operating Partnership accounts for subsidiary partnerships, joint ventures and other similar entities in which it holds an ownership interest in accordance with the amended consolidation guidance. The Operating Partnership first evaluates whether each entity is a variable interest entity (“VIE”). Under the VIE model, the Operating Partnership consolidates an entity when it has control to direct the activities of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Under the voting model, the Operating Partnership consolidates an entity when it controls the entity through ownership of a majority voting interest.
Discontinued operations	Discontinued Operations In accordance with GAAP, a discontinued operation represents (1) a component of an entity or group of components that has been disposed of or is classified as held for sale in a single transaction and represents a strategic shift that has or will have a major effect on an entity’s financial results, or (2) an acquired business that is classified as held for sale on the date of acquisition. A strategic shift could include a disposal of (1) a separate major line of business, (2) a separate major geographic area of operations, (3) a major equity method investment, or (4) other major parts of an entity. We record sales of real estate that do not meet the definition of a discontinued operation in Gain/(loss) on sale of real estate owned, net of tax on the Consolidated Statements of Operations.
Income/(Loss) Per Operating Partnership Unit	Income/(Loss) Per Operating Partnership Unit Basic income/(loss) per OP Unit is computed by dividing net income/(loss) attributable to the general and limited partner unitholders by the weighted average number of general and limited partner units outstanding during the year. Diluted income/(loss) per OP Unit reflects the potential dilution that could occur if securities or other contracts to issue OP Units were exercised or converted into OP Units or resulted in the issuance of OP Units and then shared in the income/(loss) of the Operating Partnership.
Revenue and real estate sales gain recognition	Revenue and Real Estate Sales Gain Recognition Rental income related to leases is recognized on an accrual basis when due from residents and tenants in accordance with GAAP. Rental payments are generally due on a monthly basis and recognized when earned. The Operating Partnership recognizes interest income, fees and incentives when earned, fixed and determinable. For sale transactions meeting the requirements for full accrual profit recognition, we remove the related assets and liabilities from our Consolidated Balance Sheets and record the gain or loss in the period the transaction closes. For sale transactions that do not meet the full accrual sale criteria due to our continuing involvement, we evaluate the nature of the continuing involvement and account for the transaction under an alternate method of accounting. Unless certain limited criteria are met, non-monetary transactions, including property exchanges, are accounted for at fair value. Sales to entities in which we or our General Partner retain or otherwise own an interest are accounted for as partial sales. If all other requirements for recognizing profit under the full accrual method have been satisfied and no other forms of continuing involvement are present, we recognize profit proportionate to the outside interest in the buyer and defer the gain on the interest we or our General Partner retain. The Operating Partnership recognizes any deferred gain when the property is sold to a third party. In transactions accounted by us as partial sales, we determine if the buyer of the majority equity interest in the venture was provided a preference as to cash flows in either an operating or a capital waterfall. If a cash flow preference has been provided, we recognize profit only to the extent that proceeds from the sale of the majority equity interest exceed costs related to the entire property.
Comprehensive Income/(Loss)	Comprehensive Income/(Loss) Comprehensive income/(loss), which is defined as the change in equity during each period from transactions and other events and circumstances from nonowner sources, including all changes in equity during a period except for those resulting from investments by or distributions to unitholders, is displayed in the accompanying Consolidated Statements of Comprehensive Income/(Loss). For the three and nine months ended September 30, 2017 and 2016, the Operating Partnership’s other comprehensive income/(loss) consisted of the gain/(loss) (effective portion) on derivative instruments that are designated as and qualify as cash flow hedges and (gain)/loss reclassified from other comprehensive income/(loss) into earnings. The (gain)/loss reclassified from other comprehensive income/(loss) is included in Interest expense on the Consolidated Statements of Operations. See Note 8, Derivatives and Hedging Activity, for further discussion.
Income taxes	Income Taxes The taxable income or loss of the Operating Partnership is reported on the tax returns of the partners. Accordingly, no provision has been made in the accompanying financial statements for federal or state income taxes on income that is passed through to the partners. However, any state or local revenue, excise or franchise taxes that result from the operating activities of the Operating Partnership are recorded at the entity level. The Operating Partnership’s tax returns are subject to examination by federal and state taxing authorities. Net income for financial reporting purposes differs from the net income for income tax reporting purposes primarily due to temporary differences, principally real estate depreciation and the tax deferral of certain gains on property sales. The differences in depreciation result from differences in the book and tax basis of certain real estate assets and the differences in the methods of depreciation and lives of the real estate assets. The Operating Partnership evaluates the accounting and disclosure of tax positions taken or expected to be taken in the course of preparing the Operating Partnership’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax benefit or expense in the current year. Management of the Operating Partnership is required to analyze all open tax years, as defined by the statute of limitations, for all major jurisdictions, which include federal and certain states. The Operating Partnership has no examinations in progress and none are expected at this time. Management of the Operating Partnership has reviewed all open tax years (2013 through 2016) of tax jurisdictions and concluded there is no tax liability resulting from unrecognized tax benefits relating to uncertain income tax positions taken or expected to be taken in future tax returns.

Real Estate Owned (UNITED DOM75

Real Estate Owned (UNITED DOMINION REALTY, L.P.) (Tables)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
Summary of carrying amounts for real estate owned (at cost)	The following table summarizes the carrying amounts for our real estate owned (at cost) as of September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Land $ 1,788,391 $ 1,801,576 Depreciable property — held and used: Land improvements 186,736 178,701 Building, improvements, and furniture, fixtures and equipment 7,481,166 7,291,570 Under development: Land and land improvements 111,028 111,028 Building, improvements, and furniture, fixtures and equipment 423,289 231,254 Real estate held for disposition: Land and land improvements — 1,104 Building, improvements, and furniture, fixtures and equipment — 520 Real estate owned 9,990,610 9,615,753 Accumulated depreciation (3,237,588) (2,923,625) Real estate owned, net $ 6,753,022 $ 6,692,128
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
Summary of carrying amounts for real estate owned (at cost)	The following table summarizes the carrying amounts for our real estate owned (at cost) as of September 30, 2017 and December 31, 2016 (dollars in thousands) : September 30, December 31, 2017 2016 Land $ 816,031 $ 836,644 Depreciable property — held and used: Buildings, improvements, and furniture, fixtures and equipment 2,892,019 2,838,060 Real estate owned 3,708,050 3,674,704 Accumulated depreciation (1,520,305) (1,408,815) Real estate owned, net $ 2,187,745 $ 2,265,889

Unconsolidated Entities (UNIT76

Unconsolidated Entities (UNITED DOMINION REALTY, L.P.) Unconsolidated Entities (UNITED DOMINION REALTY, L.P.) (Tables)	9 Months Ended
	Sep. 30, 2017
Schedule of Equity Method Investments [Line Items]
Summarized Income Statement Relating to Unconsolidated Joint Ventures [Table Text Block]	Combined summary financial information relating to the unconsolidated joint ventures ’ and partnerships ’ operations (not just our proportionate share) is presented below for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ) : Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Total revenues $ 63,865 $ 60,366 $ 183,564 $ 173,556 Property operating expenses (24,686) (16,309) (69,356) (62,703) Real estate depreciation and amortization (25,595) (21,260) (73,712) (61,973) Operating income/(loss) 13,584 22,797 40,496 48,880 Interest expense (19,055) (17,176) (55,695) (50,360) Other income/(expense) — (10) — (14) Gain/(loss) on sale of real estate — 10,262 — 10,262 Net income/(loss) $ (5,471) $ 15,873 $ (15,199) $ 8,768
United Dominion Reality L.P. [Member]
Schedule of Equity Method Investments [Line Items]
Summarized Income Statement Relating to Unconsolidated Joint Ventures [Table Text Block]	Combined summary balance sheets relating to all of the DownREIT Partnership (not just our proportionate share) are presented below as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): September 30, December 31, 2017 2016 Total real estate, net $ 1,375,037 $ 1,413,983 Cash and cash equivalents 40 66 Note receivable from the General Partner 126,500 126,500 Other assets 4,448 4,843 Total assets $ 1,506,025 $ 1,545,392 Secured debt, net $ 439,042 $ 443,607 Other liabilities 28,969 27,571 Total liabilities 468,011 471,178 Total capital 1,038,014 1,074,214 Total liabilities and capital $ 1,506,025 $ 1,545,392 Combined summary financial information relating to all of the DownREIT Partnership (not just our proportionate share) is presented below for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ) : Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Rental income $ 33,883 $ 33,004 $ 100,809 $ 97,267 Property operating expenses (13,974) (14,232) (41,589) (42,122) Real estate depreciation and amortization (21,135) (30,704) (62,651) (91,065) Operating income/(loss) (1,226) (11,932) (3,431) (35,920) Interest expense (3,657) (3,518) (10,830) (10,783) Interest income on note receivable from the General Partner 1,192 1,192 3,525 3,551 Net income/(loss) $ (3,691) $ (14,258) $ (10,736) $ (43,152)

Debt, Net (UNITED DOMINION RE77

Debt, Net (UNITED DOMINION REALTY, L.P.) (Tables)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
Schedule of debt instruments	The following is a summary of our secured and unsecured debt at September 30, 2017 and December 31, 2016 ( dollars in thousands ): Principal Outstanding As of September 30, 2017 Weighted Weighted Average Average Number of September 30, December 31, Interest Years to Communities 2017 2016 Rate Maturity Encumbered Secured Debt: Fixed Rate Debt Mortgage notes payable (a) $ 397,482 $ 402,996 4.04 % 5.6 7 Fannie Mae credit facilities (b) 285,836 355,836 4.86 % 2.3 8 Deferred financing costs (1,802) (2,681) Total fixed rate secured debt, net 681,516 756,151 4.39 % 4.2 15 Variable Rate Debt Tax-exempt secured notes payable (c) 94,700 94,700 1.59 % 5.4 2 Fannie Mae credit facilities (b) 29,034 280,946 2.78 % 1.2 1 Deferred financing costs (273) (939) Total variable rate secured debt, net 123,461 374,707 1.87 % 4.4 3 Total Secured Debt, net 804,977 1,130,858 4.00 % 4.2 18 Unsecured Debt: Variable Rate Debt Borrowings outstanding under unsecured credit facility due January 2020 (d) (i) — — — % 2.3 Borrowings outstanding under unsecured commercial paper program due October 2017 (e) (i) 285,000 — 1.45 % 0.1 Borrowings outstanding under unsecured working capital credit facility due January 2019 (f) 40,717 21,350 2.13 % 1.3 Term Loan Facility due January 2021 (d) (i) 35,000 35,000 2.19 % 3.3 Fixed Rate Debt 4.25% Medium-Term Notes due June 2018 (net of discounts of $287 and $608, respectively) (i) 299,713 299,392 4.25 % 0.7 3.70% Medium-Term Notes due October 2020 (net of discounts of $24 and $30, respectively) (i) 299,976 299,970 3.70 % 3.0 1.98% Term Loan Facility due January 2021 (d) (i) 315,000 315,000 1.98 % 3.3 4.63% Medium-Term Notes due January 2022 (net of discounts of $1,536 and $1,805, respectively) (i) 398,464 398,195 4.63 % 4.3 3.75% Medium-Term Notes due July 2024 (net of discounts of $704 and $782, respectively) (i) 299,296 299,218 3.75 % 6.8 8.50% Debentures due September 2024 15,644 15,644 8.50 % 7.0 4.00% Medium-Term Notes due October 2025 (net of discounts of $551 and $602, respectively) (g) (i) 299,449 299,398 4.00 % 8.0 2.95% Medium-Term Notes due September 2026 (i) 300,000 300,000 2.95 % 8.9 3.50% Medium-Term Notes due July 2027 (net of discounts of $687 and $0, respectively) (h) (i) 299,313 — 3.50 % 9.8 Other 19 21 Deferred financing costs (13,557) (12,568) Total Unsecured Debt, net 2,874,034 2,270,620 3.45 % 4.9 Total Debt, net $ 3,679,011 $ 3,401,478 3.65 % 4.8 For purposes of classification of the above table, variable rate debt with a derivative financial instrument designated as a cash flow hedge is deemed as fixed rate debt due to the Company having effectively established a fixed interest rate for the underlying debt instrument. Our secured debt instruments generally feature either monthly interest and principal or monthly interest-only payments with balloon payments due at maturity. As of September 30, 2017, secured debt encumbered $1.7 billion or 16.8% of UDR’s total real estate owned based upon gross book value ($8.3 billion or 83.2% of UDR’s real estate owned based on gross book value is unencumbered). (a) At September 30, 2017, fixed rate mortgage notes payable are generally due in monthly installments of principal and interest and mature at various dates from May 2019 through November 2026 and carry interest rates ranging from 3.15% to 5.86%. The Company will from time to time acquire properties subject to fixed rate debt instruments. In those situations, the Company records the debt at its estimated fair value and amortizes any difference between the fair value and par value to interest expense over the life of the underlying debt instrument. During the three months ended September 30, 2017 and 2016, the Company had $0.7 million and $0.6 million, respectively, and during the nine months ended September 30, 2017 and 2016, the Company had $2.2 million and $2.1 million, respectively, of amortization of the fair market adjustment of debt assumed in the acquisition of properties,which was included in Interest expense on the Consolidated Statements of Operations. The unamortized fair market adjustment was a net premium of $9.0 million and $11.2 million at September 30, 2017 and December 31, 2016, respectively. (b) UDR had two secured credit facilities with Fannie Mae with an aggregate commitment of $314.9 million at September 30, 2017. The Fannie Mae credit facilities mature at various dates from December 201 8 through July 2020 and bear interest at floating and fixed rates. At September 30, 2017, $285.8 million of the outstanding balance was fixed and had a weighted average interest rate of 4.86% and the remaining balance of $29.0 million had a weighted average variable interest rate of 2.78%. During the nine months ended September 30, 2017, the Company prepaid $275.3 million of its secured credit facilities with borrowings under the Company’s unsecured commercial paper program and proceeds from the issuance of senior unsecured medium-term notes. The Company incurred prepayment costs of $0 and $5.8 million during the three and nine months ended September 30, 2017, respectively, which were included in Interest expense on the Consolidated Statements of Operations. Further information related to these credit facilities is as follows (dollars in thousands) : September 30, December 31, 2017 2016 Borrowings outstanding $ 314,870 $ 636,782 Weighted average borrowings during the period ended 450,581 737,802 Maximum daily borrowings during the period ended 636,782 813,544 Weighted average interest rate during the period ended 4.2 % 3.9 % Weighted average interest rate at the end of the period 4.7 % 3.8 % (c) The variable rate mortgage notes payable that secure tax-exempt housing bond issues mature in August 2019 and March 2032. Interest on these notes is payable in monthly installments. The variable rate mortgage notes have interest rates ranging from 1.59% to 1.60% as of September 30, 2017. (d) The Company has a $1.1 billion unsecured revolving credit facility (the “Revolving Credit Facility”) and a $350.0 million unsecured term loan facility (the “Term Loan Facility”). The credit agreement for these facilities (the “Credit Agreement”) allows the total commitments under the Revolving Credit Facility and the total borrowings under the Term Loan Facility to be increased to an aggregate maximum amount of up to $2.0 billion, subject to certain conditions, including obtaining commitments from any one or more lenders. The Revolving Credit Facility has a scheduled maturity date of January 31, 2020, with two six-month extension options, subject to certain conditions. The Term Loan Facility has a scheduled maturity date of January 29, 2021. Based on the Company’s current credit rating, the Revolving Credit Facility has an interest rate equal to LIBOR plus a margin of 90 basis points and a facility fee of 15 basis points, and the Term Loan Facility has an interest rate equal to LIBOR plus a margin of 95 basis points. Depending on the Company’s credit rating, the margin under the Revolving Credit Facility ranges from 85 to 155 basis points, the facility fee ranges from 12.5 to 30 basis points, and the margin under the Term Loan Facility ranges from 90 to 175 basis points. The Credit Agreement contains customary representations and warranties and financial and other affirmative and negative covenants. The Credit Agreement also includes customary events of default, in certain cases subject to customary periods to cure. The occurrence of an event of default, following the applicable cure period, would permit the lenders to, among other things, declare the unpaid principal, accrued and unpaid interest and all other amounts payable under the Credit Agreement to be immediately due and payable. The following is a summary of short-term bank borrowings under the Revolving Credit Facility at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total revolving credit facility $ 1,100,000 $ 1,100,000 Borrowings outstanding at end of period (1) — — Weighted average daily borrowings during the period ended 3,040 161,505 Maximum daily borrowings during the period ended 120,000 340,000 Weighted average interest rate during the period ended 1.6 % 1.4 % Interest rate at end of the period — % — % (1) Excludes $3.3 million and $2.9 million of letters of credit at September 30, 2017 and December 31, 2016, respectively. (e) On January 23, 2017, the Company entered into an unsecured commercial paper program. Under the terms of the program, the Company may issue unsecured commercial paper up to a maximum aggregate amount outstanding of $500.0 million. The notes are sold under customary terms in the United States commercial paper market and rank pari passu with all of the Company’s other unsecured indebtedness. The notes are fully and unconditionally guaranteed by the Operating Partnership. The following is a summary of short-term bank borrowings under the unsecured commercial paper program at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total unsecured commercial paper program $ 500,000 $ — Borrowings outstanding at end of period 285,000 — Weighted average daily borrowings during the period ended 216,174 — Maximum daily borrowings during the period ended 340,000 — Weighted average interest rate during the period ended 1.4 % — % Interest rate at end of the period 1.4 % — % (f) The Company has a working capital credit facility, which provides for a $75.0 million unsecured revolving credit facility (the “Working Capital Credit Facility”) with a scheduled maturity date of January 1, 2019. Based on the Company’s current credit rating, the Working Capital Credit Facility has an interest rate equal to LIBOR plus a margin of 90 basis points. Depending on the Company’s credit rating, the margin ranges from 85 to 155 basis points. The following is a summary of short-term bank borrowings under the Working Capital Credit Facility at September 30, 2017 and December 31, 2016 (dollars in thousands): September 30, December 31, 2017 2016 Total working capital credit facility $ 75,000 $ 75,000 Borrowings outstanding at end of period 40,717 21,350 Weighted average daily borrowings during the period ended 26,258 21,936 Maximum daily borrowings during the period ended 67,799 69,633 Weighted average interest rate during the period ended 1.9 % 1.4 % Interest rate at end of the period 2.1 % 1.7 % (g) The Company previously entered into forward starting interest rate swaps to hedge against interest rate risk on $200.0 million of this debt. The all-in weighted average interest rate, inclusive of the impact of these interest rate swaps, was 4.55%. (h) On June 16, 2017, the Company issued $300.0 million of 3.50% senior unsecured medium-term notes due July 1, 2027. Interest is payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2018. The notes were priced at 99.764% of the prinicipal amount at issuance. The Company used the net proceeds for the repayment of outstanding indebtedness and for general corporate purposes. (i) The Operating Partnership is a guarantor of this debt.
Secured credit facilities	Further information related to these credit facilities is as follows (dollars in thousands) : September 30, December 31, 2017 2016 Borrowings outstanding $ 314,870 $ 636,782 Weighted average borrowings during the period ended 450,581 737,802 Maximum daily borrowings during the period ended 636,782 813,544 Weighted average interest rate during the period ended 4.2 % 3.9 % Weighted average interest rate at the end of the period 4.7 % 3.8 %
Aggregate maturities of secured debt	The aggregate maturities, including amortizing principal payments of unsecured and secured debt, of total debt for the next ten calendar years subsequent to September 30, 2017 are as follows (dollars in thousands): Total Fixed Total Variable Total Total Total Year Secured Debt Secured Debt Secured Debt Unsecured Debt Debt 2017 $ 1,133 $ — $ 1,133 $ 285,000 $ 286,133 2018 4,636 29,034 33,670 300,000 333,670 2019 249,395 67,700 317,095 40,717 357,812 2020 198,076 — 198,076 300,000 498,076 2021 1,117 — 1,117 350,000 351,117 2022 1,157 — 1,157 400,000 401,157 2023 41,245 — 41,245 — 41,245 2024 — — — 315,644 315,644 2025 127,600 — 127,600 300,000 427,600 2026 50,000 — 50,000 300,000 350,000 Thereafter — 27,000 27,000 300,000 327,000 Subtotal 674,359 123,734 798,093 2,891,361 3,689,454 Non-cash (a) 7,157 (273) 6,884 (17,327) (10,443) Total $ 681,516 $ 123,461 $ 804,977 $ 2,874,034 $ 3,679,011 (a) Includes the unamortized balance of fair market value adjustments, premiums/discounts and deferred financing costs. For the three months ended September 30, 2017 and 2016, the Company amortized $ 1.1 million and $1. 0 million, respectively, of deferred financing costs into Interest expense. For the nine months ended September 30, 2017 and 2016, the Company amortized $ 3.2 million and $ 3.5 million, respectively, of deferred financing costs into Interest expense.
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
Schedule of debt instruments	Secured debt consists of the following as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): Principal Outstanding As of September 30, 2017 Weighted Weighted Average September 30, December 31, Average Years to Communities 2017 2016 Interest Rate Maturity Encumbered Fixed Rate Debt Fannie Mae credit facilities $ 133,205 $ 244,912 5.28 % 2.1 4 Deferred financing costs (320) (1,070) Total fixed rate secured debt, net 132,885 243,842 5.28 % 2.1 4 Variable Rate Debt Tax-exempt secured note payable 27,000 27,000 1.60 % 14.5 1 Fannie Mae credit facilities — 163,637 — % — — Deferred financing costs (80) (505) Total variable rate secured debt, net 26,920 190,132 1.60 % 14.5 1 Total Secured Debt, Net $ 159,805 $ 433,974 4.97 % 4.2 5
Secured credit facilities	The following information relates to the credit facilities owed by the Operating Partnership (dollars in thousands) : September 30, December 31, 2017 2016 Borrowings outstanding $ 133,205 $ 408,549 Weighted average borrowings during the period ended 253,394 414,759 Maximum daily borrowings during the period ended 408,549 421,001 Weighted average interest rate during the period ended 4.5 % 3.9 % Interest rate at the end of the period 5.3 % 4.0 %
Aggregate maturities of secured debt	The aggregate maturities of the Operating Partnership’s secured debt due during each of the next ten calendar years subsequent to September 30, 2017 are as follows (dollars in thousands): Fixed Variable Tax-Exempt Secured Credit Secured Notes Year Facilities Payable Total 2017 $ — $ — $ — 2018 — — — 2019 133,205 — 133,205 2020 — — — 2021 — — — 2022 — — — 2023 — — — 2024 — — — 2025 — — — 2026 — — — Thereafter — 27,000 27,000 Subtotal 133,205 27,000 160,205 Non-cash (a) (320) (80) (400) Total $ 132,885 $ 26,920 $ 159,805 (a) Includes the unamortized balance of fair market value adjustments, premiums/discounts, deferred hedge gains, and deferred financing costs. For the three months ended September 30, 2017 and 2016, the Operating Partnership amortized less than $0.1 million and $0.1 million, respectively, and $0. 3 million and $0. 4 million for the nine months ended September 30, 2017 and 2016, respectively, of deferred financing costs into Interest expense .

Fair Value of Derivatives and78

Fair Value of Derivatives and Financial Instruments (UNITED DOMINION REALTY, L.P.) (Tables)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
Estimated fair values	The estimated fair values of the Company’s financial instruments either recorded or disclosed on a recurring basis as of September 30, 2017 and December 31, 2016 are summarized as follows (dollars in thousands) : Fair Value at September 30, 2017, Using Total Quoted Carrying Prices in Amount in Active Statement of Markets Significant Financial Fair Value for Identical Other Significant Position at Estimate at Assets or Observable Unobservable September 30, September 30, Liabilities Inputs Inputs 2017 2017 (Level 1) (Level 2) (Level 3) Description: Notes receivable (a) $ 18,594 $ 18,578 $ — $ — $ 18,578 Derivatives - Interest rate contracts (b) 4,350 4,350 — 4,350 — Total assets $ 22,944 $ 22,928 $ — $ 4,350 $ 18,578 Secured debt instruments - fixed rate: (c) Mortgage notes payable $ 397,482 $ 398,437 $ — $ — $ 398,437 Fannie Mae credit facilities 285,836 293,050 — — 293,050 Secured debt instruments - variable rate: (c) Tax-exempt secured notes payable 94,700 94,700 — — 94,700 Fannie Mae credit facilities 29,034 29,034 — — 29,034 Unsecured debt instruments: (c) Working capital credit facility 40,717 40,717 — — 40,717 Commercial paper program 285,000 285,000 — — 285,000 Unsecured notes 2,561,874 2,623,456 — — 2,623,456 Total liabilities $ 3,694,643 $ 3,764,394 $ — $ — $ 3,764,394 Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (d) $ 943,182 $ 943,182 $ — $ 943,182 $ — Fair Value at December 31, 2016, Using Total Quoted Carrying Prices in Amount in Active Statement of Markets Significant Financial Fair Value for Identical Other Significant Position at Estimate at Assets or Observable Unobservable December 31, December 31, Liabilities Inputs Inputs 2016 2016 (Level 1) (Level 2) (Level 3) Description: Notes receivable (a) $ 19,790 $ 19,645 $ — $ — $ 19,645 Derivatives - Interest rate contracts (b) 4,360 4,360 — 4,360 — Total assets $ 24,150 $ 24,005 $ — $ 4,360 $ 19,645 Derivatives- Interest rate contracts (b) $ 413 $ 413 $ — $ 413 $ — Secured debt instruments - fixed rate: (c) Mortgage notes payable 402,996 396,045 — — 396,045 Fannie Mae credit facilities 355,836 365,693 — — 365,693 Secured debt instruments - variable rate: (c) Tax-exempt secured notes payable 94,700 94,700 — — 94,700 Fannie Mae credit facilities 280,946 280,946 — — 280,946 Unsecured debt instruments: (c) Working capital credit facility 21,350 21,350 — — 21,350 Unsecured notes 2,261,838 2,304,492 — — 2,304,492 Total liabilities $ 3,418,079 $ 3,463,639 $ — $ 413 $ 3,463,226 Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (d) $ 909,482 $ 909,482 $ — $ 909,482 $ — (a) See Note 2, Significant Accounting Policies . (b) See Note 10, Derivatives and Hedging Activity . (c) See Note 6, Secured Debt and Unsecured Debt, Net . See Note 8, Noncontrolling Interests .
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
Estimated fair values	The estimated fair values of the Operating Partnership’s financial instruments either recorded or disclosed on a recurring basis as of September 30, 2017 and December 31, 2016 are summarized as follows (dollars in thousands) : Fair Value at September 30, 2017, Using Total Quoted Carrying Prices in Amount in Active Statement of Markets Significant Financial Fair Value for Identical Other Significant Position at Estimate at Assets or Observable Unobservable September 30, September 30, Liabilities Inputs Inputs 2017 2017 (Level 1) (Level 2) (Level 3) Description: Secured debt instruments - fixed rate: (a) Fannie Mae credit facilities $ 133,205 $ 137,663 $ — $ — $ 137,663 Secured debt instruments - variable rate: (a) Tax-exempt secured notes payable 27,000 27,000 — — 27,000 Total liabilities $ 160,205 $ 164,663 $ — $ — $ 164,663 Fair Value at December 31, 2016, Using Quoted Total Prices in Carrying Active Amount in Markets Statement of for Identical Significant Financial Fair Value Assets Other Significant Position at Estimate at or Observable Unobservable December 31, December 31, Liabilities Inputs Inputs 2016 2016 (Level 1) (Level 2) (Level 3) Description: Derivatives - Interest rate contracts (b) $ 1 $ 1 $ — $ 1 $ — Total assets $ 1 $ 1 $ — $ 1 $ — Secured debt instruments - fixed rate: (a) Fannie Mae credit facilities $ 244,912 $ 251,664 $ — $ — $ 251,664 Secured debt instruments - variable rate: (a) — Tax-exempt secured notes payable 27,000 27,000 — — 27,000 Fannie Mae credit facilities 163,637 163,637 — — 163,637 Total liabilities $ 435,549 $ 442,301 $ — $ — $ 442,301 (a) See Note 5, Debt, Net. (b) See Note 8, Derivatives and Hedging Activity.

Derivatives and Hedging Activ79

Derivatives and Hedging Activity (UNITED DOMINION REALTY, L.P.) (Tables)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
Outstanding interest rate derivatives	As of September 30, 2017, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk ( dollars in thousands ): Number of Product Instruments Notional Interest rate swaps 4 $ 315,000 Interest rate caps 1 $ 65,197 Derivatives not designated as hedges are not speculative and are used to manage the Company’s exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of GAAP. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings and resulted in a loss of less than $0.1 million for the three and nine months ended September 30, 2017 and 2016. As of September 30, 2017, the Company had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships ( dollars in thousands ): Number of Product Instruments Notional Interest rate caps 3 $ 271,076
Fair value of Company's derivative financial instruments and their classification on Consolidated Balance Sheet	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): Asset Derivatives Liability Derivatives (included in Other assets ) (included in Other liabilities ) Fair Value at: Fair Value at: September 30, December 31, September 30, December 31, 2017 2016 2017 2016 Derivatives designated as hedging instruments: Interest rate products $ 4,350 $ 4,359 $ — $ 413 Derivatives not designated as hedging instruments: Interest rate products $ — $ 1 $ — $ —
Effect of Company's derivative financial instruments on Consolidated Statements of Operation	The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ): Gain/(Loss) Recognized in Gain/(Loss) Reclassified Interest expense Unrealized holding gain/(loss) from Accumulated OCI into (Ineffective Portion and Recognized in OCI Interest expense Amount Excluded from (Effective Portion) (Effective Portion) Effectiveness Testing) Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 2017 2016 Three Months Ended September 30, Interest rate products $ 131 $ 1,090 $ (119) $ (914) $ — $ — Nine Months Ended September 30, Interest rate products $ 256 $ (1,684) $ (1,192) $ (2,792) $ (136) $ —
Effect of Company's derivatives not designated as hedging instruments on the Consolidated Statements of Operations	Gain/(Loss) Recognized in Interest income and other income/(expense), net Derivatives Not Designated as Hedging Instruments 2017 2016 Three Months Ended September 30, Interest rate products $ — $ (1) Nine Months Ended September 30, Interest rate products $ (1) $ (4)
Offsetting Assets [Table Text Block]	The Company has elected not to offset derivative positions in the consolidated financial statements. The tables below present the effect on its financial position had the Company made the election to offset its derivative positions as of September 30, 2017 and December 31, 2016 (dollars in thousands): Gross Net Amounts of Gross Amounts Not Offset Amounts Assets in the Consolidated Gross Offset in the Presented in the Balance Sheet Amounts of Consolidated Consolidated Cash Recognized Balance Balance Sheets Financial Collateral Offsetting of Derivative Assets Assets Sheets (a) Instruments Received Net Amount September 30, 2017 $ 4,350 $ — $ 4,350 $ — $ — $ 4,350 December 31, 2016 $ 4,360 $ — $ 4,360 $ (221) $ — $ 4,139 (a) Amounts reconcile to the aggregate fair value of derivative assets in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote.
Offsetting Liabilities [Table Text Block]	Gross Net Amounts of Gross Amounts Not Offset Amounts Liabilities in the Consolidated Gross Offset in the Presented in the Balance Sheet Amounts of Consolidated Consolidated Cash Recognized Balance Balance Sheets Financial Collateral Offsetting of Derivative Liabilities Liabilities Sheets (a) Instruments Posted Net Amount September 30, 2017 $ — $ — $ — $ — $ — $ — December 31, 2016 $ 413 $ — $ 413 $ (221) $ — $ 192 Amounts reconcile to the aggregate fair value of derivative liabilities in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote.
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
Outstanding interest rate derivatives	As of September 30, 2017, we had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships ( dollars in thousands ): Number of Product Instruments Notional Interest rate caps 3 $ 170,074
Fair value of Company's derivative financial instruments and their classification on Consolidated Balance Sheet	The table below presents the fair value of the Operating Partnership’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016 ( dollars in thousands ): Asset Derivatives Liability Derivatives (included in Other assets) (Included in Other liabilities) Fair Value at: Fair Value at: September 30, December 31, September 30, December 31, 2017 2016 2017 2016 Derivatives not designated as hedging instruments: Interest rate products $ — $ 1 $ — $ —
Effect of Company's derivative financial instruments on Consolidated Statements of Operation	The tables below present the effect of the derivative financial instruments on the Consolidated Statements of Operations for the three and nine months ended September 30, 2017 and 2016 ( dollars in thousands ): Gain/(Loss) Recognized Unrealized holding Gain/(Loss) Reclassified in Interest expense gain/(loss) Recognized in from Accumulated OCI into (Ineffective Portion and OCI Interest expense Amount Excluded from (Effective Portion) (Effective Portion) Effectiveness Testing) Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 2017 2016 Three Months Ended September 30, Interest rate products $ — $ (1) $ — $ (3) $ — $ — Nine Months Ended September 30, Interest rate products $ — $ (4) $ — $ (6) $ (106) $ —
Effect of Company's derivatives not designated as hedging instruments on the Consolidated Statements of Operations	Gain/(Loss) Recognized in Interest income and other income/(expense), net Derivatives Not Designated as Hedging Instruments 2017 2016 Three Months Ended September 30, Interest rate products $ — $ (1) Nine Months Ended September 30, Interest rate products $ (1) $ (4)
Offsetting Assets [Table Text Block]	The General Partner has elected not to offset derivative positions in the consolidated financial statements. The table below presents the effect on the Operating Partnership’s financial position had the General Partner made the election to offset its derivative positions as of September 30, 2017 and December 31, 2016: Gross Gross Amounts Not Offset Amounts Net Amounts of in the Consolidated Gross Offset in the Assets Balance Sheets Amounts of Consolidated Presented in the Cash Recognized Balance Consolidated Financial Collateral Assets Sheets Balance Sheets (a) Instruments Received Net Amount September 30, 2017 $ — — — $ — $ — $ — December 31, 2016 $ 1 $ — $ 1 $ — $ — $ 1 (a) Amounts reconcile to the aggregate fair value of derivative assets in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote.
Offsetting Liabilities [Table Text Block]	Gross Gross Amounts Not Offset Amounts Net Amounts of in the Consolidated Gross Offset in the Liabilities Balance Sheets Amounts of Consolidated Presented in the Cash Recognized Balance Consolidated Financial Collateral Liabilities Sheets Balance Sheets (a) Instruments Posted Net Amount September 30, 2017 $ — $ — $ — $ — $ — $ — December 31, 2016 $ — $ — $ — $ — $ — $ — Amounts reconcile to the aggregate fair value of derivative liabilities in the “Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets” located in this footnote.

Capital Structure (UNITED DOM80

Capital Structure (UNITED DOMINION REALTY, L.P.) Capital Structure (UNITED DOMINION REALTY, L.P.) (Tables)	9 Months Ended
	Sep. 30, 2017
United Dominion Reality L.P. [Member]
Limited Partners' Capital Account [Line Items]
Schedule of Limited Partners' Capital Account by Class [Table Text Block]	The following table shows OP Units outstanding and OP Unit activity as of and for the nine months ended September 30, 2017: UDR, Inc. Class A Class A Limited Limited Limited Limited General Partners Partners Partner Partner Partner Total Ending balance at December 31, 2016 1,751,671 7,296,943 173,997,540 121,661 110,883 183,278,698 Vesting of LTIP Units — 72,226 — — — 72,226 OP redemptions for UDR stock — (7,604) 7,604 — — — Ending balance at September 30, 2017 1,751,671 7,361,565 174,005,144 121,661 110,883 183,350,924

Reportable Segments (UNITED D81

Reportable Segments (UNITED DOMINION REALTY, L.P.) (Tables)	9 Months Ended
	Sep. 30, 2017
Entity Information [Line Items]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations	The following table details rental income and NOI for UDR’s reportable segments for the three and nine months ended September 30, 2017 and 2016, and reconciles NOI to Net Income/(Loss) Attributable to UDR, Inc. in the Consolidated Statements of Operations (dollars in thousands) : Three Months Ended Nine Months Ended September 30, (a) September 30, (b) 2017 2016 2017 2016 Reportable apartment home segment rental income Same-Store Communities West Region $ 84,287 $ 80,975 $ 249,730 $ 238,948 Mid-Atlantic Region 57,061 55,903 157,010 152,661 Northeast Region 38,162 37,211 113,814 110,420 Southeast Region 29,297 28,150 87,103 82,989 Southwest Region 10,816 10,453 32,181 30,815 Non-Mature Communities/Other 28,641 27,563 94,355 92,547 Total segment and consolidated rental income $ 248,264 $ 240,255 $ 734,193 $ 708,380 Reportable apartment home segment NOI Same-Store Communities West Region $ 62,939 $ 61,510 $ 187,493 $ 179,473 Mid-Atlantic Region 39,479 37,958 108,965 104,150 Northeast Region 26,100 26,379 80,151 79,721 Southeast Region 20,712 18,882 60,432 56,759 Southwest Region 6,429 6,415 19,722 19,090 Non-Mature Communities/Other 19,062 19,212 64,064 62,612 Total segment and consolidated NOI 174,721 170,356 520,827 501,805 Reconciling items: Joint venture management and other fees 2,827 2,997 8,718 8,473 Property management (6,827) (6,607) (20,190) (19,480) Other operating expenses (1,950) (1,636) (6,010) (5,280) Real estate depreciation and amortization (107,171) (105,802) (320,653) (317,078) General and administrative (12,467) (11,826) (36,976) (36,505) Casualty-related (charges)/recoveries, net (2,056) (205) (3,749) (1,834) Other depreciation and amortization (1,585) (1,526) (4,760) (4,565) Income/(loss) from unconsolidated entities 1,819 15,285 11,591 16,289 Interest expense (30,095) (31,954) (94,500) (93,736) Interest income and other income/(expense), net 481 478 1,423 1,449 Tax (provision)/benefit, net (127) (94) (825) 711 Gain/(loss) on sale of real estate owned, net of tax — — 2,132 10,385 Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership (1,415) (2,459) (4,607) (4,974) Net (income)/loss attributable to noncontrolling interests 35 (51) (107) (365) Net income/(loss) attributable to UDR, Inc. $ 16,190 $ 26,956 $ 52,314 $ 55,295 (a) Same-Store Community population consisted of 36,540 apartment homes. (b) Same-Store Community population consisted of 35,689 apartment homes.
Details of assets of UDR's reportable segments	The following table details the assets of UDR’s reportable segments as of September 30, 2017 and December 31, 2016 (dollars in thousands) : September 30, December 31, 2017 2016 Reportable apartment home segment assets: Same-Store Communities: West Region $ 2,964,637 $ 2,938,073 Mid-Atlantic Region 2,440,929 2,427,948 Northeast Region 1,863,595 1,857,193 Southeast Region 757,135 746,762 Southwest Region 289,123 283,260 Non-Mature Communities/Other 1,675,191 1,362,517 Total segment assets 9,990,610 9,615,753 Accumulated depreciation (3,237,588) (2,923,625) Total segment assets — net book value 6,753,022 6,692,128 Reconciling items: Cash and cash equivalents 1,788 2,112 Restricted cash 20,413 19,994 Notes receivable, net 18,594 19,790 Investment in and advances to unconsolidated joint ventures, net 839,864 827,025 Other assets 127,024 118,535 Total consolidated assets $ 7,760,705 $ 7,679,584
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations	The following table details rental income and NOI for the Operating Partnership’s reportable segments for the three and nine months ended September 30, 2017 and 2016, and reconciles NOI to Net income/(loss) attributable to OP unitholders in the Consolidated Statements of Operations (dollars in thousands) : Three Months Ended Nine Months Ended September 30, (a) September 30, (b) 2017 2016 2017 2016 Reportable apartment home segment rental income Same-Store Communities West Region $ 51,976 $ 49,594 $ 153,724 $ 145,833 Mid-Atlantic Region 14,657 14,371 44,203 42,945 Northeast Region 13,746 13,516 40,850 39,724 Southeast Region 12,448 12,073 37,171 35,687 Non-Mature Communities/Other 12,426 13,041 35,998 38,084 Total segment and consolidated rental income $ 105,253 $ 102,595 $ 311,946 $ 302,273 Reportable apartment home segment NOI Same-Store Communities West Region $ 39,313 $ 37,562 $ 116,720 $ 110,508 Mid-Atlantic Region 9,843 9,468 30,073 28,717 Northeast Region 9,884 10,186 30,488 30,649 Southeast Region 8,844 7,986 25,671 24,194 Non-Mature Communities/Other 8,677 9,494 25,686 27,838 Total segment and consolidated NOI 76,561 74,696 228,638 221,906 Reconciling items: Property management (2,894) (2,821) (8,578) (8,313) Other operating expenses (1,572) (1,509) (5,248) (4,528) Real estate depreciation and amortization (37,057) (36,925) (113,167) (110,769) General and administrative (4,134) (4,631) (13,760) (13,896) Casualty-related recoveries/(charges), net 43 (14) (1,701) (479) Income/(loss) from unconsolidated entities (4,782) (9,463) (14,556) (32,880) Interest expense (5,055) (7,448) (25,318) (22,631) Net (income)/loss attributable to noncontrolling interests (374) (368) (1,067) (1,062) Net income/(loss) attributable to OP unitholders $ 20,736 $ 11,517 $ 45,243 $ 27,348 (a) Same-Store Community population consisted of 15,058 apartment homes. (b) Same-Store Community population consisted of 15,058 apartment homes.
Details of assets of UDR's reportable segments	The following table details the assets of the Operating Partnership’s reportable segments as of September 30, 2017 and December 31, 2016 (dollars in thousands) : September 30, December 31, 2017 2016 Reportable apartment home segment assets Same-Store Communities West Region $ 1,615,904 $ 1,596,815 Mid-Atlantic Region 654,131 655,693 Northeast Region 676,996 674,928 Southeast Region 332,154 328,729 Non-Mature Communities/Other 428,865 418,539 Total segment assets 3,708,050 3,674,704 Accumulated depreciation (1,520,305) (1,408,815) Total segment assets - net book value 2,187,745 2,265,889 Reconciling items: Cash and cash equivalents 222 756 Restricted cash 12,608 11,694 Investment in unconsolidated entities 85,783 112,867 Other assets 30,634 24,329 Total consolidated assets $ 2,316,992 $ 2,415,535

Consolidation and Basis of Pr82

Consolidation and Basis of Presentation (UNITED DOMINION REALTY, L.P.) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017communityitemshares	Sep. 30, 2016	Sep. 30, 2017communityitemshares	Sep. 30, 2016	Dec. 31, 2016shares
Entity Information [Line Items]
Number of Real Estate Properties | community	128		128
Number of apartments owned (in apartments homes) | item	39,906		39,906
OP units outstanding related to limited partner	183,350,924		183,350,924		183,278,698
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
Rental revenues percent of General Partner's consolidated rental revenues	42.00%	43.00%	42.00%	43.00%
Number of Real Estate Properties | community	54		54
Number of markets operating within (in markets) | item	14		14
Number of apartments owned (in apartments homes) | item	16,698		16,698
Operating Partnership outstanding units	183,350,924		183,350,924
OP units outstanding related to general partner	110,883		110,883		110,883
OP units outstanding related to limited partner	183,240,041		183,240,041		183,167,815
Limited Partner | United Dominion Reality L.P. [Member]
Entity Information [Line Items]
OP units outstanding related to general partner	174,237,688		174,237,688
OP units outstanding related to limited partner	174,237,688		174,237,688
General Partners Capital Account Units Owned Percentage	95.00%		95.00%
Non-affiliated Partners
Entity Information [Line Items]
OP units outstanding related to limited partner	7,361,565		7,361,565		7,296,943
Non-affiliated Partners | United Dominion Reality L.P. [Member]
Entity Information [Line Items]
OP units outstanding related to limited partner	9,113,236		9,113,236		9,048,614
Percentage of units outstanding in Heritage OP	5.00%		5.00%		4.90%

Real Estate Owned (UNITED DOM83

Real Estate Owned (UNITED DOMINION REALTY, L.P.) - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Land	$ 1,788,391	$ 1,801,576
Under development:
Real estate under development (net of accumulated depreciation of $1,737 and $0, respectively)	532,580	342,282
Real estate owned	9,990,610	9,615,753
Real Estates Owned Accumulated Depreciation	(3,237,588)	(2,923,625)
Total real estate owned, net of accumulated depreciation	6,753,022	6,692,128
Land
Under development:
Real estate under development (net of accumulated depreciation of $1,737 and $0, respectively)	111,028	111,028
Real estate held for disposition		1,104
Construction in progress
Under development:
Real estate under development (net of accumulated depreciation of $1,737 and $0, respectively)	423,289	231,254
Building and improvements
Under development:
Real estate held for disposition		520
United Dominion Reality L.P. [Member]
Property, Plant and Equipment [Line Items]
Land	816,031	836,644
Depreciable property - held and used:
Building, improvements, and furniture, fixture and equipment	2,892,019	2,838,060
Under development:
Real estate owned	3,708,050	3,674,704
Real Estates Owned Accumulated Depreciation	(1,520,305)	(1,408,815)
Total real estate owned, net of accumulated depreciation	$ 2,187,745	$ 2,265,889

Real Estate Owned (UNITED DOM84

Real Estate Owned (UNITED DOMINION REALTY, L.P.) - Acquisitions and Dispositions (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)statecommunityitem	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)statecommunityitem	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Real Estate Owned (Textual) [Abstract]
Number of communities owned (in communities) | community	128		128
Number of states operating within (in states) | state	10		10
Number of apartments owned (in apartments homes) | item	39,906		39,906
Development costs excluding direct costs and capitalized interest	$ 2,200	$ 1,000	$ 6,600	$ 5,700
Interest capitalized during period	4,600	4,100	14,000	12,100
Other Cost and Expense, Operating	1,950	1,636	6,010	5,280
Proceeds from Sale of Property, Plant, and Equipment			3,500
Deferred fees from the sale of properties	$ 10,700		10,700		$ 9,500
Payments for (Proceeds from) Investments			$ 3,300
United Dominion Reality L.P. [Member]
Real Estate Owned (Textual) [Abstract]
Number of communities owned (in communities) | community	54		54
Number of states operating within (in states) | state	8		8
Number of apartments owned (in apartments homes) | item	16,698		16,698
Development costs excluding direct costs and capitalized interest		100	$ 400	700
Interest capitalized during period	$ 100	100	100	200
Other Cost and Expense, Operating	1,572	$ 1,509	$ 5,248	$ 4,528
United Dominion Reality L.P. [Member] | Maximum
Real Estate Owned (Textual) [Abstract]
Development costs excluding direct costs and capitalized interest	$ 100

Unconsolidated Entities (UNIT85

Unconsolidated Entities (UNITED DOMINION REALTY, L.P.) - Summary Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Equity Method Investments	$ 839,864		$ 839,864		$ 827,025
Income/(loss) from unconsolidated entities	1,819	$ 15,285	11,591	$ 16,289
United Dominion Reality L.P. [Member]
Equity Method Investments	85,783		85,783		112,867
Income/(loss) from unconsolidated entities	(4,782)	(9,463)	(14,556)	(32,880)
UDR Lighthouse DownREIT L.P. [Member] | United Dominion Reality L.P. [Member]
Equity Method Investment Summarized Financial Information Real Estate, Net	1,375,037		1,375,037		1,413,983
Equity Method Investment Summarized Financial Information Cash and cash equivalents	40		40		66
Equity Method Investment Summarized Financial Instrument, Note Receivable	126,500		126,500		126,500
Equity Method Investment Summarized Financial Information Other assets	4,448		4,448		4,843
Equity Method Investment, Summarized Financial Information, Assets	1,506,025		1,506,025		1,545,392
Equity Method Investment Summarized Financial Information, Secured Debt, Net	439,042		439,042		443,607
Equity Method Investment, Summarized Financial Information, Other Liabilities	28,969		28,969		27,571
Equity Method Investment, Summarized Financial Information, Liabilities	468,011		468,011		471,178
Equity Method Investment Summarized Financial Information, Equity	1,038,014		1,038,014		1,074,214
Equity Method Investment, Summarized Financial Information, Liabilities and Equity, Total	1,506,025		1,506,025		1,545,392
Equity Method Investment, Summarized Financial Information, Revenue	33,883	33,004	100,809	97,267
Equity Method Investments	85,800		85,800		$ 112,900
Equity Method Investment Summarized Financial Information Property Operating Expense	(13,974)	(14,232)	(41,589)	(42,122)
Equity Method Investment Summarized Financial Information Depreciation Amortization	(21,135)	(30,704)	(62,651)	(91,065)
Equity Method of Investment Summarized Financial Information Operating income/(loss)	(1,226)	(11,932)	(3,431)	(35,920)
Equity Method Investment Summarized Financial Information Interest expense	(3,657)	(3,518)	(10,830)	(10,783)
Equity Method Investment Summarized Financial Information Other income/(expense)	1,192	1,192	3,525	3,551
Net income /(loss)	$ (3,691)	$ (14,258)	$ (10,736)	$ (43,152)

Unconsolidated Entities (UNIT86

Unconsolidated Entities (UNITED DOMINION REALTY, L.P.) - Additional Information (Details) $ in Thousands	Sep. 30, 2017USD ($)communityitem	Dec. 31, 2016USD ($)
Schedule of Equity Method Investments [Line Items]
Number of Real Estate Properties | community	128
Number of apartment homes owned and consolidated by the Company | item	39,906
Equity Method Investments | $	$ 839,864	$ 827,025
United Dominion Reality L.P. [Member]
Schedule of Equity Method Investments [Line Items]
Number of Real Estate Properties | community	54
Number of apartment homes owned and consolidated by the Company | item	16,698
Equity Method Investments | $	$ 85,783	112,867
United Dominion Reality L.P. [Member] | UDR Lighthouse DownREIT L.P. [Member]
Schedule of Equity Method Investments [Line Items]
Number of Real Estate Properties | community	13
Number of apartment homes owned and consolidated by the Company | item	6,261
Equity Method Investments | $	$ 85,800	$ 112,900

Debt (UNITED DOMINION REALTY, L

Debt (UNITED DOMINION REALTY, L.P.) - Summary (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017USD ($)community	Sep. 30, 2017USD ($)community	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Interest rate at end of the period	3.65%
Debt Instrument Weighted Average Years to Maturity	4 years 9 months 18 days
Fixed Rate Debt | Mortgages Notes Payable [Member]
Debt Instrument [Line Items]
Principal outstanding	$ 397,482	$ 397,482	$ 402,996
Interest rate at end of the period	4.04%
Debt Instrument Weighted Average Years to Maturity	5 years 7 months 6 days
Number of Communities Encumbered (in communities) | community	7
Fixed Rate Debt | Fannie Mae credit facilities
Debt Instrument [Line Items]
Principal outstanding	$ 285,836	$ 285,836	355,836
Interest rate at end of the period	4.86%	4.86%
Debt Instrument Weighted Average Years to Maturity	2 years 3 months 18 days
Number of Communities Encumbered (in communities) | community	8
Variable Rate Debt | Fannie Mae credit facilities
Debt Instrument [Line Items]
Principal outstanding	$ 29,034	$ 29,034	280,946
Interest rate at end of the period	2.78%	2.78%
Debt Instrument Weighted Average Years to Maturity	1 year 2 months 12 days
Number of Communities Encumbered (in communities) | community	1
Variable Rate Debt | Tax-exempt secured notes payable
Debt Instrument [Line Items]
Principal outstanding	$ 94,700	$ 94,700	94,700
Interest rate at end of the period	1.59%
Debt Instrument Weighted Average Years to Maturity	5 years 4 months 24 days
Number of Communities Encumbered (in communities) | community	2
United Dominion Reality L.P. [Member]
Debt Instrument [Line Items]
Principal outstanding	$ 159,805	$ 159,805	433,974
Interest rate at end of the period		4.97%
Debt Instrument Weighted Average Years to Maturity		4 years 2 months 12 days
Number of Communities Encumbered (in communities) | community		5
United Dominion Reality L.P. [Member] | Fixed Rate Debt
Debt Instrument [Line Items]
Principal outstanding	132,885	$ 132,885	243,842
Interest rate at end of the period		5.28%
Debt Instrument Weighted Average Years to Maturity		2 years 1 month 6 days
Number of Communities Encumbered (in communities) | community		4
Deferred Finance Costs, Net	(320)	$ (320)	(1,070)
United Dominion Reality L.P. [Member] | Fixed Rate Debt | Fannie Mae credit facilities
Debt Instrument [Line Items]
Principal outstanding	133,205	$ 133,205	244,912
Interest rate at end of the period		5.28%
Debt Instrument Weighted Average Years to Maturity		2 years 1 month 6 days
Number of Communities Encumbered (in communities) | community		4
United Dominion Reality L.P. [Member] | Variable Rate Debt
Debt Instrument [Line Items]
Principal outstanding	26,920	$ 26,920	190,132
Interest rate at end of the period		1.60%
Debt Instrument Weighted Average Years to Maturity		14 years 6 months
Number of Communities Encumbered (in communities) | community		1
Deferred Finance Costs, Net	(80)	$ (80)	(505)
United Dominion Reality L.P. [Member] | Variable Rate Debt | Fannie Mae credit facilities
Debt Instrument [Line Items]
Principal outstanding			163,637
United Dominion Reality L.P. [Member] | Variable Rate Debt | Tax-exempt secured notes payable
Debt Instrument [Line Items]
Principal outstanding	$ 27,000	$ 27,000	$ 27,000
Interest rate at end of the period		1.60%
Debt Instrument Weighted Average Years to Maturity		14 years 6 months
Number of Communities Encumbered (in communities) | community		1

Debt (UNITED DOMINION REALTY,88

Debt (UNITED DOMINION REALTY, L.P.) - Credit Facilities .(Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	4 years 9 months 18 days
Long-term Line of Credit	$ 3,300	$ 3,300	$ 2,900
Interest expense
Debt Instrument [Line Items]
Prepayment costs	0	5,800
Fannie Mae
Debt Instrument [Line Items]
Long-term Line of Credit	$ 314,870	314,870	636,782
Weighted average daily borrowings during the period ended		450,581	737,802
Maximum daily borrowings during the period ended		$ 636,782	$ 813,544
Weighted average interest rate during the period ended		4.20%	3.90%
Interest rate at the end of the period	4.70%	4.70%	3.80%
United Dominion Reality L.P. [Member]
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity		4 years 2 months 12 days
Long-term Line of Credit	$ 133,205	$ 133,205	$ 408,549
Weighted average daily borrowings during the period ended		253,394	414,759
Maximum daily borrowings during the period ended		$ 408,549	$ 421,001
Weighted average interest rate during the period ended		4.50%	3.90%
Interest rate at the end of the period	5.30%	5.30%	4.00%
United Dominion Reality L.P. [Member] | Interest expense
Debt Instrument [Line Items]
Prepayment costs		$ 5,800
United Dominion Reality L.P. [Member] | Fannie Mae credit facilities
Debt Instrument [Line Items]
Prepaid line of credit		275,300
Long-term Line of Credit	$ 133,200	$ 133,200
Fixed Rate Debt | Mortgages Notes Payable [Member]
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	5 years 7 months 6 days
Fixed Rate Debt | Fannie Mae credit facilities
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	2 years 3 months 18 days
Fixed Rate Debt | United Dominion Reality L.P. [Member]
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity		2 years 1 month 6 days
Fixed Rate Debt | United Dominion Reality L.P. [Member] | General Partner
Debt Instrument [Line Items]
Long-term Line of Credit	$ 285,800	$ 285,800
Fixed Rate Debt | United Dominion Reality L.P. [Member] | Operating Partnership
Debt Instrument [Line Items]
Long-term Line of Credit	$ 133,200	$ 133,200
Fixed Rate Debt | United Dominion Reality L.P. [Member] | Fannie Mae credit facilities
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity		2 years 1 month 6 days
Weighted average interest rate during the period ended		5.28%
Fixed Rate Debt | United Dominion Reality L.P. [Member] | Fannie Mae credit facilities | Operating Partnership
Debt Instrument [Line Items]
Weighted average interest rate during the period ended		5.28%
Variable Rate Debt | Tax-exempt secured notes payable
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	5 years 4 months 24 days
Variable Rate Debt | Fannie Mae credit facilities
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	1 year 2 months 12 days
Variable Rate Debt | United Dominion Reality L.P. [Member]
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity		14 years 6 months
Variable Rate Debt | United Dominion Reality L.P. [Member] | General Partner
Debt Instrument [Line Items]
Long-term Line of Credit	$ 29,000	$ 29,000
Variable Rate Debt | United Dominion Reality L.P. [Member] | Operating Partnership
Debt Instrument [Line Items]
Long-term Line of Credit	$ 0	$ 0
Variable Rate Debt | United Dominion Reality L.P. [Member] | Mortgages Notes Payable [Member] | Operating Partnership
Debt Instrument [Line Items]
Interest rate at the end of the period	1.60%	1.60%
Variable Rate Debt | United Dominion Reality L.P. [Member] | Tax-exempt secured notes payable
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity		14 years 6 months

Debt (UNITED DOMINION REALTY,89

Debt (UNITED DOMINION REALTY, L.P.) - Maturities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
2,017	$ 286,133		$ 286,133
2,018	333,670		333,670
2,019	357,812		357,812
2,020	498,076		498,076
2,021	351,117		351,117
2,022	401,157		401,157
2,023	41,245		41,245
2,024	315,644		315,644
2,025	427,600		427,600
2,026	350,000		350,000
Thereafter	327,000		327,000
Long-term Debt, Gross	3,689,454		3,689,454
Non-cash (a)	(10,443)		(10,443)
Total	804,977		804,977		$ 1,130,858
United Dominion Reality L.P. [Member]
Debt Instrument [Line Items]
2,019	133,205		133,205
Thereafter	27,000		27,000
Long-term Debt, Gross	160,205		160,205
Non-cash (a)	(400)		(400)
Total	159,805		159,805		$ 433,974
Amortization of deferred financing costs		$ 100	300	$ 400
United Dominion Reality L.P. [Member] | Maximum
Debt Instrument [Line Items]
Amortization of deferred financing costs	100
United Dominion Reality L.P. [Member] | Fixed Rate Debt
Debt Instrument [Line Items]
2,019	133,205		133,205
Long-term Debt, Gross	133,205		133,205
Non-cash (a)	(320)		(320)
Total	132,885		132,885
United Dominion Reality L.P. [Member] | Tax-exempt secured notes payable
Debt Instrument [Line Items]
Thereafter	27,000		27,000
Long-term Debt, Gross	27,000		27,000
Non-cash (a)	(80)		(80)
Total	$ 26,920		$ 26,920

Debt (UNITED DOMINION REALTY,90

Debt (UNITED DOMINION REALTY, L.P.) - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	4 years 9 months 18 days
Amortization of Financing Costs		$ 1,000	$ 3,200	$ 3,500
Long-term Commercial Paper	$ 500,000		500,000
Long-term Line of Credit	$ 3,300		3,300		$ 2,900
Interest rate at end of the period	3.65%
Unsecured Commercial Bank Credit Facility
Debt Instrument [Line Items]
Total revolving credit facility	$ 2,000,000		$ 2,000,000
Debt Instrument, Maturity Date			Jan. 31, 2020
Fannie Mae
Debt Instrument [Line Items]
Long-term Line of Credit	$ 314,870		$ 314,870		636,782
Fannie Mae credit facilities | Fixed Rate Debt
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	2 years 3 months 18 days
Debt Instrument, Maturity Date Range, Start			Dec. 1, 2018
Secured debt including debt on real estate held for sale	$ 285,836		$ 285,836		355,836
Interest rate at end of the period	4.86%		4.86%
Debt Instrument, Maturity Date Range, End			Jul. 1, 2020
Fannie Mae credit facilities | Variable Rate Debt
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	1 year 2 months 12 days
Secured debt including debt on real estate held for sale	$ 29,034		$ 29,034		280,946
Interest rate at end of the period	2.78%		2.78%
Mortgages Notes Payable [Member] | Fixed Rate Debt
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	5 years 7 months 6 days
Secured debt including debt on real estate held for sale	$ 397,482		$ 397,482		402,996
Interest rate at end of the period	4.04%
Tax-exempt secured notes payable | Fixed Rate Debt
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start			Aug. 1, 2019
Debt Instrument, Maturity Date Range, End			Mar. 1, 2032
Tax-exempt secured notes payable | Variable Rate Debt
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	5 years 4 months 24 days
Secured debt including debt on real estate held for sale	$ 94,700		$ 94,700		94,700
Interest rate at end of the period	1.59%
4.25% Medium-Term Notes due June 2018
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	8 months 12 days
Interest rate at end of the period	4.25%
Unamortized fair market adjustment	$ 287		287		608
3.70% Term Notes Due October 2020 [Member]
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	3 years
Interest rate at end of the period	3.70%
Unamortized fair market adjustment	$ 24		24		30
4.63% Medium-Term Notes due January 2022
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	4 years 3 months 18 days
Interest rate at end of the period	4.63%
Unamortized fair market adjustment	$ 1,536		1,536		1,805
3.75 Medium-Term Notes Due July 2024 [Member]
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	6 years 9 months 18 days
Interest rate at end of the period	3.75%
Unamortized fair market adjustment	$ 704		704		782
4.00% Medium-Term Note due October 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	8 years
Interest rate at end of the period	4.00%
Unamortized fair market adjustment	$ 551		551		602
2.95% Medium-Term Note due September 2026 [Member]
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	8 years 10 months 24 days
Interest rate at end of the period	2.95%
3.50 Medium-Term Note due July 2027 [Member]
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity	9 years 9 months 18 days
Interest rate at end of the period	3.50%
Unamortized fair market adjustment	$ 687		$ 687
United Dominion Reality L.P. [Member]
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity			4 years 2 months 12 days
Long-term Line of Credit	133,205		$ 133,205		408,549
Secured debt including debt on real estate held for sale	159,805		$ 159,805		433,974
Interest rate at end of the period			4.97%
United Dominion Reality L.P. [Member] | Fixed Rate Debt
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity			2 years 1 month 6 days
Secured debt including debt on real estate held for sale	132,885		$ 132,885		243,842
Interest rate at end of the period			5.28%
United Dominion Reality L.P. [Member] | Variable Rate Debt
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity			14 years 6 months
Secured debt including debt on real estate held for sale	26,920		$ 26,920		190,132
Interest rate at end of the period			1.60%
United Dominion Reality L.P. [Member] | Fannie Mae credit facilities
Debt Instrument [Line Items]
Long-term Line of Credit	133,200		$ 133,200
United Dominion Reality L.P. [Member] | Fannie Mae credit facilities | Fixed Rate Debt
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity			2 years 1 month 6 days
Secured debt including debt on real estate held for sale	133,205		$ 133,205		244,912
Interest rate at end of the period			5.28%
United Dominion Reality L.P. [Member] | Fannie Mae credit facilities | Variable Rate Debt
Debt Instrument [Line Items]
Secured debt including debt on real estate held for sale					163,637
United Dominion Reality L.P. [Member] | Tax-exempt secured notes payable | Variable Rate Debt
Debt Instrument [Line Items]
Debt Instrument Weighted Average Years to Maturity			14 years 6 months
Secured debt including debt on real estate held for sale	27,000		$ 27,000		27,000
Interest rate at end of the period			1.60%
United Dominion Reality L.P. [Member] | Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total revolving credit facility	1,100,000		$ 1,100,000
United Dominion Reality L.P. [Member] | Unsecured Commercial Paper [Member]
Debt Instrument [Line Items]
Long-term Commercial Paper	500,000		500,000
Borrowings outstanding at end of period	285,000		285,000		0
United Dominion Reality L.P. [Member] | 4.25% Medium-Term Notes due June 2018
Debt Instrument [Line Items]
Long-term Line of Credit	300,000		300,000
United Dominion Reality L.P. [Member] | Three point seven percent medium term note due October 2020 [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	300,000		300,000
United Dominion Reality L.P. [Member] | 2.23% Term Loan Facility due January 2021 [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	350,000		350,000
United Dominion Reality L.P. [Member] | 4.63% Medium-Term Notes due January 2022
Debt Instrument [Line Items]
Long-term Line of Credit	400,000		400,000
United Dominion Reality L.P. [Member] | 3.75 Medium-Term Notes Due July 2024 [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	300,000		300,000
United Dominion Reality L.P. [Member] | 4.00% Medium-Term Note due October 2025 [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	300,000		300,000
United Dominion Reality L.P. [Member] | 2.95% Medium-Term Note due September 2026 [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	300,000		300,000
United Dominion Reality L.P. [Member] | 3.50 Medium-Term Note due July 2027 [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	300,000		$ 300,000
Mortgages Notes Payable [Member] | Fixed Rate Debt
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start			May 1, 2019
Debt Instrument, Maturity Date Range, End			Nov. 5, 2026
Mortgages Notes Payable [Member] | Fair Value, Measurements, Recurring | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Mortgages Notes Payable [Member] | Fixed Rate Debt
Debt Instrument [Line Items]
Secured debt including debt on real estate held for sale	397,482		$ 397,482		402,996
Fannie Mae credit facilities | Fair Value, Measurements, Recurring | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fannie Mae credit facilities | Fixed Rate Debt
Debt Instrument [Line Items]
Secured debt including debt on real estate held for sale	285,836		285,836		355,836
Fannie Mae credit facilities | Fair Value, Measurements, Recurring | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fannie Mae credit facilities | Variable Rate Debt
Debt Instrument [Line Items]
Secured debt including debt on real estate held for sale	29,034		29,034		280,946
Fannie Mae credit facilities | Fair Value, Measurements, Recurring | Carrying (Reported) Amount, Fair Value Disclosure [Member] | United Dominion Reality L.P. [Member]
Debt Instrument [Line Items]
Variable Rate Secured Debt Instruments Fair Value					163,637
Fixed Rate Secured Debt Instruments Fair Value	$ 133,205		$ 133,205		$ 244,912

Related Party Transactions (U91

Related Party Transactions (UNITED DOMINION REALTY, L.P.) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Limited partnership units owned	183,350,924		183,350,924		183,278,698
United Dominion Reality L.P. [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Advance from (to) Related Party,	$ 308,300		$ 308,300		$ 19,700
Limited partnership units owned	183,240,041		183,240,041		183,167,815
Interest Expense, Related Party	$ 3,053	$ 3,053	$ 9,159	$ 9,159
Notes payable due to General Partner	273,334		$ 273,334		$ 273,334
United Dominion Reality L.P. [Member] | Taxable REIT Subsidiaries
Related Party Transaction [Line Items]
Related Party Transaction, Management Fee Percentage			2.75%
United Dominion Reality L.P. [Member] | UDR, Inc.
Related Party Transaction [Line Items]
General and administrative expenses allocated to the Operating Partnership by UDR	2,700	4,300	$ 10,800	11,800
Related party management fees	4,400	$ 3,100	11,500	$ 10,400
United Dominion Reality L.P. [Member] | UDR, Inc. | Bottom Dollar guaranty
Related Party Transaction [Line Items]
Notes payable due to General Partner	$ 273,300		$ 273,300		$ 273,300
Note for 83.2 million [Member] | United Dominion Reality L.P. [Member] | UDR, Inc. | Guaranty related to community acquisition
Related Party Transaction [Line Items]
Related party guaranty note payable interest rate	4.12%		4.12%
Debt Instrument, Maturity Date Range, End			Aug. 31, 2021
Note for 5 million [Member] | United Dominion Reality L.P. [Member] | UDR, Inc. | Guaranty related to community acquisition
Related Party Transaction [Line Items]
Related party guaranty note payable interest rate	5.34%		5.34%
Debt Instrument, Maturity Date Range, End			Dec. 31, 2023
Note for 184.6 million [Member] | United Dominion Reality L.P. [Member] | UDR, Inc. | Guaranty related to community acquisition
Related Party Transaction [Line Items]
Debt Instrument, Maturity Date Range, End			Apr. 1, 2026

Fair Value of Derivatives and92

Fair Value of Derivatives and Financial Instruments (UNITED DOMINION REALTY, L.P.) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Secured debt instruments - variable rate
Transfer between the levels	$ 0
Fair Value, Measurements, Recurring | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Total assets	22,944	$ 24,150
Secured debt instruments - variable rate
Total liabilities	3,694,643	3,418,079
Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Total assets	22,928	24,005
Secured debt instruments - variable rate
Total liabilities	3,764,394	3,463,639
Interest rate contracts | Fair Value, Measurements, Recurring | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Derivatives - Interest rate contracts	4,350	4,360
Derivative Liability Designated as Hedging Instrument, Fair Value		413
Interest rate contracts | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Derivatives - Interest rate contracts	4,350	4,360
Derivative Liability Designated as Hedging Instrument, Fair Value		413
Level 2 [Member] | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Total assets	4,350	4,360
Secured debt instruments - variable rate
Total liabilities		413
Level 2 [Member] | Interest rate contracts | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Derivatives - Interest rate contracts	4,350	4,360
Derivative Liability Designated as Hedging Instrument, Fair Value		413
Level 3 [Member] | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Total assets	18,578	19,645
Secured debt instruments - variable rate
Total liabilities	3,764,394	3,463,226
United Dominion Reality L.P. [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Derivatives - Interest rate contracts		1
United Dominion Reality L.P. [Member] | Fair Value, Measurements, Recurring | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Total assets		1
Secured debt instruments - variable rate
Total liabilities	160,205	435,549
United Dominion Reality L.P. [Member] | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Total assets		1
Secured debt instruments - variable rate
Total liabilities	164,663	442,301
United Dominion Reality L.P. [Member] | Interest rate contracts | Fair Value, Measurements, Recurring | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Derivatives - Interest rate contracts		1
United Dominion Reality L.P. [Member] | Interest rate contracts | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Derivatives - Interest rate contracts		1
United Dominion Reality L.P. [Member] | Tax-exempt secured notes payable | Fair Value, Measurements, Recurring | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Secured debt instruments - variable rate
Secured debt instruments - variable rate	27,000	27,000
United Dominion Reality L.P. [Member] | Tax-exempt secured notes payable | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Secured debt instruments - variable rate
Secured debt instruments - variable rate	27,000	27,000
United Dominion Reality L.P. [Member] | Fannie Mae credit facilities | Fair Value, Measurements, Recurring | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Secured debt instruments - fixed rate
Secured debt instruments - fixed rate	133,205	244,912
Secured debt instruments - variable rate
Secured debt instruments - variable rate		163,637
United Dominion Reality L.P. [Member] | Fannie Mae credit facilities | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Secured debt instruments - fixed rate
Secured debt instruments - fixed rate	137,663	251,664
Secured debt instruments - variable rate
Secured debt instruments - variable rate		163,637
United Dominion Reality L.P. [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Total assets		1
United Dominion Reality L.P. [Member] | Level 2 [Member] | Interest rate contracts | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Estimated fair values of the financial instruments either recorded or disclosed on a recurring basis
Derivatives - Interest rate contracts		1
United Dominion Reality L.P. [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Secured debt instruments - variable rate
Total liabilities	164,663	442,301
United Dominion Reality L.P. [Member] | Level 3 [Member] | Tax-exempt secured notes payable | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Secured debt instruments - variable rate
Secured debt instruments - variable rate	27,000	27,000
United Dominion Reality L.P. [Member] | Level 3 [Member] | Fannie Mae credit facilities | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Secured debt instruments - fixed rate
Secured debt instruments - fixed rate	137,663	251,664
Secured debt instruments - variable rate
Secured debt instruments - variable rate		163,637
Fannie Mae credit facilities | Fixed Rate Debt | Fannie Mae credit facilities | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Secured debt instruments - fixed rate
Secured debt instruments - fixed rate	293,050	365,693
Fannie Mae credit facilities | Fixed Rate Debt | Level 3 [Member] | Fannie Mae credit facilities | Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure [Member]
Secured debt instruments - fixed rate
Secured debt instruments - fixed rate	$ 293,050	$ 365,693

Derivatives and Hedging Activ93

Derivatives and Hedging Activity (UNITED DOMINION REALTY, L.P.) - Interest Rate Derivatives (Details) $ in Thousands	Sep. 30, 2017USD ($)instrument
Interest rate swaps [Member] | Designated as Hedging Instrument
Derivative [Line Items]
Number instruments | instrument	4
Outstanding interest rate derivatives designated as hedging instruments
Notional	$ 315,000
Interest rate caps [Member] | Designated as Hedging Instrument
Derivative [Line Items]
Number instruments | instrument	1
Outstanding interest rate derivatives designated as hedging instruments
Notional	$ 65,197
Interest rate caps [Member] | Not Designated as Hedging Instrument
Derivative [Line Items]
Number instruments | instrument	3
Outstanding interest rate derivatives designated as hedging instruments
Notional	$ 271,076
United Dominion Reality L.P. [Member] | Designated as Hedging Instrument | Cash Flow Hedging
Outstanding interest rate derivatives designated as hedging instruments
Derivatives	$ 0
United Dominion Reality L.P. [Member] | Interest rate caps [Member] | Not Designated as Hedging Instrument
Derivative [Line Items]
Number instruments | instrument	3
Outstanding interest rate derivatives designated as hedging instruments
Notional	$ 170,074

Derivatives and Hedging Activ94

Derivatives and Hedging Activity (UNITED DOMINION REALTY, L.P.) - Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Interest rate contracts | Other assets | Designated as Hedging Instrument
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative Asset Designated as Hedging Instrument, Fair Value	$ 4,350	$ 4,359
Interest rate contracts | Other assets | Not Designated as Hedging Instrument
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative Asset Not Designated as Hedging Instrument, Fair Value		1
Interest rate contracts | Other liabilities | Designated as Hedging Instrument
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative Liability Designated as Hedging Instrument, Fair Value		413
United Dominion Reality L.P. [Member]
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative Asset Designated as Hedging Instrument, Fair Value		1
United Dominion Reality L.P. [Member] | Interest rate contracts | Other assets | Not Designated as Hedging Instrument
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative Asset Not Designated as Hedging Instrument, Fair Value		$ 1

Derivatives and Hedging Activ95

Derivatives and Hedging Activity (UNITED DOMINION REALTY, L.P.) - Effectiveness (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized holding gain/(loss)	$ 131	$ 1,090	$ 256	$ (1,684)
Amount of Gain or (Loss) Recognized in Income on Derivative		(1)	(1)	(4)
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		0	(100)	0
United Dominion Reality L.P. [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized holding gain/(loss)		(1)		(4)
Amount of Gain or (Loss) Recognized in Income on Derivative	(100)	(100)	(100)	(100)
Interest rate contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	0
Interest rate contracts | Interest expense | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(119)	(914)	(1,192)	(2,792)
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net			(136)
Interest rate contracts | United Dominion Reality L.P. [Member] | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized holding gain/(loss)		(1)		(4)
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	$ 0
Interest rate contracts | United Dominion Reality L.P. [Member] | Other income/(expense)
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivative		(1)	(1)	(4)
Interest rate contracts | United Dominion Reality L.P. [Member] | Interest expense | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		$ (3)		$ (6)
Amount of Gain or (Loss) Recognized in Income on Derivative			(100)
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net			$ (106)

Derivatives and Hedging Activ96

Derivatives and Hedging Activity (UNITED DOMINION REALTY, L.P.) - Offsetting (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Offsetting Derivative Assets [Abstract]
Net Amounts of Assets Presented in the Consolidated Balance Sheets (a)	$ 4,350	$ 4,360
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments		221
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	0	0
Net Amount	4,350	4,139
Offsetting Derivative Liabilities [Abstract]
Gross Amounts Offset in the Consolidated Balance Sheets	0	413
Net Amounts of Liabilities Presented in the Consolidated Balance Sheets (b)		413
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments		221
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	0	0
Net Amount		192
United Dominion Reality L.P. [Member]
Offsetting Derivative Assets [Abstract]
Derivative Asset Designated as Hedging Instrument, Fair Value		1
Net Amounts of Assets Presented in the Consolidated Balance Sheets (a)		1
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	$ 0	0
Net Amount		$ 1

Derivatives and Hedging Activ97

Derivatives and Hedging Activity (UNITED DOMINION REALTY, L.P.) - Other information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Entity Information [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		$ 0	$ 100	$ 0
Estimated additional accumulated other comprehensive Income/(Loss) transferred to interest expense	$ (200)		(200)
Losses in the fair value of derivatives not designated in hedging relationships		$ 1	1	$ 4
Payment required to pay for contract termination	4,400		4,400
Derivative, Collateral, Obligation to Return Cash	0		0		$ 0
United Dominion Reality L.P. [Member]
Entity Information [Line Items]
Ineffectiveness on Interest Rate Fair Value Hedges is Immaterial		0		0
Estimated additional accumulated other comprehensive Income/(Loss) transferred to interest expense	0		0
Losses in the fair value of derivatives not designated in hedging relationships	100	$ 100	100	$ 100
Derivative, Collateral, Obligation to Return Cash	0		0		$ 0
United Dominion Reality L.P. [Member] | Minimum
Entity Information [Line Items]
Fair value of derivatives in a net asset position			100
Interest rate contracts | Cash Flow Hedging
Entity Information [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	0
Interest rate contracts | Cash Flow Hedging | United Dominion Reality L.P. [Member]
Entity Information [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	$ 0
Interest rate contracts | Interest expense | Cash Flow Hedging
Entity Information [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net			136
Interest rate contracts | Interest expense | Cash Flow Hedging | United Dominion Reality L.P. [Member]
Entity Information [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net			106
Losses in the fair value of derivatives not designated in hedging relationships			$ 100

Capital Structure (UNITED DOM98

Capital Structure (UNITED DOMINION REALTY, L.P.) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)class$ / itemshares	Dec. 31, 2016USD ($)shares
Limited Partners' Capital Account [Line Items]
Limited partnership units owned	183,350,924	183,278,698
Long Term Incentive Plan Operating Partnership Units Vesting, Shares	72,226
Redeemable Noncontrolling Interest, Equity, Carrying Amount | $	$ 943,182	$ 909,482
Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | $	$ 943,182	$ 909,482
Number of classes of LTIP Units | class	2
LTIP Units | Minimum
Limited Partners' Capital Account [Line Items]
Vesting period	1 year
Period of time LTIP units have been outstanding	2 years
LTIP Units | Maximum
Limited Partners' Capital Account [Line Items]
Vesting period	3 years
LTIP Units One | Non-employee Director
Limited Partners' Capital Account [Line Items]
Vesting period	1 year
LTIP Units Two | Employee Director | Minimum
Limited Partners' Capital Account [Line Items]
Vesting period	1 year
LTIP Units Two | Employee Director | Maximum
Limited Partners' Capital Account [Line Items]
Vesting period	3 years
United Dominion Reality L.P. [Member]
Limited Partners' Capital Account [Line Items]
General Partnership units outstanding	110,883	110,883
Limited partnership units owned	183,240,041	183,167,815
Limited Partners' Capital Account, Required Period To Be Outstanding Before Unit is Redeemable	1 year
Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | $	$ 346,600	$ 330,100
UDR, Inc.
Limited Partners' Capital Account [Line Items]
Limited partnership units owned	174,126,805	174,119,201
Percentage of units	95.00%	95.10%
Class A Limited Partner
Limited Partners' Capital Account [Line Items]
Cumulative, annual, non-compounded preferred return on Class A Partnership units	8.00%
Value of Class A Partnership units (in dollars per unit) | $ / item	16.61
Class A Limited Partner | United Dominion Reality L.P. [Member]
Limited Partners' Capital Account [Line Items]
Limited partnership units owned	1,873,332
Class A Limited Partner | UDR, Inc.
Limited Partners' Capital Account [Line Items]
Limited partnership units owned	121,661	121,661
Non-affiliated Partners
Limited Partners' Capital Account [Line Items]
Limited partnership units owned	7,361,565	7,296,943
Long Term Incentive Plan Operating Partnership Units Vesting, Shares	72,226
Partners' Capital Account, Units, Redeemed	(7,604)
Non-affiliated Partners | United Dominion Reality L.P. [Member]
Limited Partners' Capital Account [Line Items]
Limited partnership units owned	9,113,236	9,048,614
Percentage of units	5.00%	4.90%
Non-affiliated Partners | Class A Limited Partner
Limited Partners' Capital Account [Line Items]
Limited partnership units owned	1,751,671	1,751,671
Limited Partner | United Dominion Reality L.P. [Member]
Limited Partners' Capital Account [Line Items]
General Partnership units outstanding	174,237,688
Limited partnership units owned	174,237,688
Limited Partner | UDR, Inc.
Limited Partners' Capital Account [Line Items]
Limited partnership units owned	174,005,144	173,997,540
Partners' Capital Account, Units, Redeemed	7,604
General Partner | UDR, Inc.
Limited Partners' Capital Account [Line Items]
Limited partnership units owned	110,883	110,883

Reportable Segments (UNITED D99

Reportable Segments (UNITED DOMINION REALTY, L.P.) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)item	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)segmentitem	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Equity Method Investments	$ 839,864		$ 839,864		$ 827,025
Same Store Communities | item	36,540		35,689
Reconciling items:
Property management	$ (6,827)	$ (6,607)	$ (20,190)	$ (19,480)
Other operating expenses	(1,950)	(1,636)	(6,010)	(5,280)
Segment Reporting Reconciling Items Cost of Services Depreciation and Amortization	(107,171)	(105,802)	(320,653)	(317,078)
General and administrative	(12,467)	(11,826)	(36,976)	(36,505)
Casualty-related charges/(recoveries), net	(2,056)	(205)	(3,749)	(1,834)
Income/(loss) from unconsolidated entities	1,819	15,285	11,591	16,289
Interest expense	(30,095)	(31,954)	(94,500)	(93,736)
Net (income)/loss attributable to noncontrolling interests	35	(51)	(107)	(365)
Net income/(loss) attributable to OP unitholders	16,190	26,956	52,314	55,295
Reportable apartment home segment assets:
Total segment assets	9,990,610		9,990,610		9,615,753
Real Estate Investment Property, Accumulated Depreciation	3,235,851		3,235,851		2,923,072
Accumulated depreciation	(3,237,588)		(3,237,588)		(2,923,625)
Total real estate owned, net of accumulated depreciation	6,753,022		6,753,022		6,692,128
Reconciling items:
Cash and cash equivalents	1,788	3,301	1,788	3,301	2,112	$ 6,742
Restricted cash	20,413		20,413		19,994
Investment in unconsolidated entities	839,864		839,864		827,025
Other assets	127,024		127,024		118,535
Total assets	7,760,705		$ 7,760,705		7,679,584
Reportable Segment (Textual) [Abstract]
Number of reportable segments | segment			2
Time to maintain percent occupancy to be considered a community			3 months
Same Store Communities Western Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	84,287	80,975	$ 249,730	238,948
Reportable apartment home segment NOI	62,939	61,510	187,493	179,473
Reportable apartment home segment assets:
Total segment assets	2,964,637		2,964,637		2,938,073
Same Store Communities Mid-Atlantic Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	57,061	55,903	157,010	152,661
Reportable apartment home segment NOI	39,479	37,958	108,965	104,150
Reportable apartment home segment assets:
Total segment assets	2,440,929		2,440,929		2,427,948
Same Store Communities Northeast Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	38,162	37,211	113,814	110,420
Reportable apartment home segment NOI	26,100	26,379	80,151	79,721
Reportable apartment home segment assets:
Total segment assets	1,863,595		1,863,595		1,857,193
Same Store Communities Southeastern Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	29,297	28,150	87,103	82,989
Reportable apartment home segment NOI	20,712	18,882	60,432	56,759
Reportable apartment home segment assets:
Total segment assets	757,135		757,135		746,762
Same Store Communities Southwestern Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	10,816	10,453	32,181	30,815
Reportable apartment home segment NOI	6,429	6,415	19,722	19,090
Reportable apartment home segment assets:
Total segment assets	289,123		289,123		283,260
Non-Mature communities/Other [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	28,641	27,563	94,355	92,547
Reportable apartment home segment NOI	19,062	19,212	64,064	62,612
Reportable apartment home segment assets:
Total segment assets	1,675,191		1,675,191		1,362,517
Reportable Segment (Textual) [Abstract]
Capital expenditures and development	800	1,500	3,100	6,500
Total Communities [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	248,264	240,255	734,193	708,380
Reportable apartment home segment NOI	174,721	170,356	520,827	501,805
United Dominion Reality L.P. [Member]
Segment Reporting Information [Line Items]
Equity Method Investments	$ 85,783		$ 85,783		112,867
Same Store Communities | item	15,058		15,058
Reconciling items:
Property management	$ (2,894)	(2,821)	$ (8,578)	(8,313)
Other operating expenses	(1,572)	(1,509)	(5,248)	(4,528)
Segment Reporting Reconciling Items Cost of Services Depreciation and Amortization	(37,057)	(36,925)	(113,167)	(110,769)
General and administrative	(4,134)	(4,631)	(13,760)	(13,896)
Casualty-related charges/(recoveries), net	43	(14)	(1,701)	(479)
Income/(loss) from unconsolidated entities	(4,782)	(9,463)	(14,556)	(32,880)
Interest expense	(5,055)	(7,448)	(25,318)	(22,631)
Net (income)/loss attributable to noncontrolling interests	(374)	(368)	(1,067)	(1,062)
Net income/(loss) attributable to OP unitholders	20,736	11,517	45,243	27,348
Reportable apartment home segment assets:
Total segment assets	3,708,050		3,708,050		3,674,704
Real Estate Investment Property, Accumulated Depreciation	1,520,305		1,520,305		1,408,815
Accumulated depreciation	(1,520,305)		(1,520,305)		(1,408,815)
Total real estate owned, net of accumulated depreciation	2,187,745		2,187,745		2,265,889
Reconciling items:
Cash and cash equivalents	222	45	222	45	756	$ 3,103
Restricted cash	12,608		12,608		11,694
Investment in unconsolidated entities	85,783		85,783		112,867
Other assets	30,634		30,634		24,329
Total assets	2,316,992		$ 2,316,992		2,415,535
Reportable Segment (Textual) [Abstract]
Number of reportable segments | segment			2
United Dominion Reality L.P. [Member] | Same-Store [Member]
Reportable Segment (Textual) [Abstract]
Capital expenditures and development	10,900	12,500	$ 30,500	29,500
United Dominion Reality L.P. [Member] | Same Store Communities Western Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	51,976	49,594	153,724	145,833
Reportable apartment home segment NOI	39,313	37,562	116,720	110,508
Reportable apartment home segment assets:
Total segment assets	1,615,904		1,615,904		1,596,815
United Dominion Reality L.P. [Member] | Same Store Communities Mid-Atlantic Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	14,657	14,371	44,203	42,945
Reportable apartment home segment NOI	9,843	9,468	30,073	28,717
Reportable apartment home segment assets:
Total segment assets	654,131		654,131		655,693
United Dominion Reality L.P. [Member] | Same Store Communities Northeast Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	13,746	13,516	40,850	39,724
Reportable apartment home segment NOI	9,884	10,186	30,488	30,649
Reportable apartment home segment assets:
Total segment assets	676,996		676,996		674,928
United Dominion Reality L.P. [Member] | Same Store Communities Southeastern Region [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	12,448	12,073	37,171	35,687
Reportable apartment home segment NOI	8,844	7,986	25,671	24,194
Reportable apartment home segment assets:
Total segment assets	332,154		332,154		328,729
United Dominion Reality L.P. [Member] | Non-Mature communities/Other [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	12,426	13,041	35,998	38,084
Reportable apartment home segment NOI	8,677	9,494	25,686	27,838
Reportable apartment home segment assets:
Total segment assets	428,865		428,865		$ 418,539
Reportable Segment (Textual) [Abstract]
Capital expenditures and development	500	400	1,500	1,100
United Dominion Reality L.P. [Member] | Total Communities [Member]
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to loss from continuing operations
Reportable apartment home segment rental income	105,253	102,595	311,946	302,273
Reportable apartment home segment NOI	$ 76,561	$ 74,696	$ 228,638	$ 221,906