UDR Inc., a real estate investment trust based in Denver, has priced a public offering of 8 million shares of common stock at $24.25 per share. The net proceeds of approximately $184.9 million are expected to be used to repay $116.1 million outstanding under its revolving credit facility and for general corporate purposes, the company said. The underwriters have been given an option to buy up to 1.2 million additional shares to cover any overallotments. Merrill Lynch & Co., Citi, and Morgan Stanley are the joint book-running managers of the offering. UDR, a multifamily REIT, can be found online at http://www.udr.com.
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