REIT Prices Preferred Stock

UDR Inc., a real estate investment trust based in Richmond, Va., has priced a public offering of 5.4 million shares of 6.75% series G cumulative redeemable preferred stock at a liquidation preference of $25 per share.The net proceeds are expected to be used to fund the redemption of all outstanding shares of its 8.60% series B cumulative redeemable preferred stock, to repay debt under its $500 million credit facility, and for general corporate purposes, the company said. Wachovia Capital Markets LLC was the sole book-running manager of the offering. UDR, a multifamily REIT, can be found online at http://www.udr.com.