| Schedule of rental income and NOI for UDRs reportable segments and reconciliation of NOI to Net income/(loss) |
The following table details rental income and NOI for UDR’s reportable segments for the three months ended March 31, 2026 and 2025, and reconciles NOI to Net income/(loss) attributable to UDR, Inc. on the Consolidated Statements of Operations (dollars in thousands): | | | | | | | | | March 31, (a) | | | 2026 | | 2025 | Reportable apartment home segment lease revenue | | | | | | | Same-Store Communities | | | | | | | West Region | | $ | 125,741 | | $ | 122,392 | Northeast Region | | | 81,896 | | | 80,086 | Mid-Atlantic Region | | | 77,438 | | | 77,215 | Southeast Region | | | 53,024 | | | 54,178 | Southwest Region | | | 46,575 | | | 47,475 | Non-Mature Communities/Other | | | 24,048 | | | 23,913 | Total segment and consolidated lease revenue | | $ | 408,722 | | $ | 405,259 | | | | | | | | Reportable apartment home segment other revenue | | | | | | | Same-Store Communities | | | | | | | West Region | | $ | 3,048 | | $ | 3,222 | Northeast Region | | | 2,065 | | | 2,166 | Mid-Atlantic Region | | | 3,541 | | | 3,310 | Southeast Region | | | 3,014 | | | 2,904 | Southwest Region | | | 2,304 | | | 2,307 | Non-Mature Communities/Other | | | 627 | | | 668 | Total segment and consolidated other revenue | | $ | 14,599 | | $ | 14,577 | | | | | | | | Total reportable apartment home segment rental income | | | | | | | Same-Store Communities | | | | | | | West Region | | $ | 128,789 | | $ | 125,614 | Northeast Region | | | 83,961 | | | 82,252 | Mid-Atlantic Region | | | 80,979 | | | 80,525 | Southeast Region | | | 56,038 | | | 57,082 | Southwest Region | | | 48,879 | | | 49,782 | Non-Mature Communities/Other | | | 24,675 | | | 24,581 | Total segment and consolidated rental income | | $ | 423,321 | | $ | 419,836 | | | | | | | | Total reportable apartment home segment operating expenses | | | | | | | Same-Store Communities | | | | | | | Personnel | | $ | 19,645 | | $ | 18,887 | Utilities | | | 20,324 | | | 18,769 | Repair and maintenance | | | 25,653 | | | 24,033 | Administrative and marketing | | | 9,875 | | | 9,385 | Real estate taxes | | | 51,072 | | | 50,103 | Insurance | | | 5,156 | | | 4,998 | Non-Mature Communities/Other (b) | | | 8,866 | | | 8,560 | Total segment and consolidated operating expenses | | $ | 140,591 | | $ | 134,735 | | | | | | | | Reportable apartment home segment NOI | | | | | | | Same-Store Communities | | | | | | | West Region | | $ | 92,347 | | $ | 91,912 | Northeast Region | | | 52,756 | | | 52,458 | Mid-Atlantic Region | | | 54,151 | | | 54,900 | Southeast Region | | | 37,507 | | | 38,925 | Southwest Region | | | 30,160 | | | 30,885 | Non-Mature Communities/Other | | | 15,809 | | | 16,021 | Total segment and consolidated NOI | | | 282,730 | | | 285,101 | | | | | | | |
Reconciling items: | | | | | | | Joint venture management and other fees | | | 2,528 | | | 2,112 | Property management | | | (13,758) | | | (13,645) | Other operating expenses | | | (9,415) | | | (8,059) | Real estate depreciation and amortization | | | (161,268) | | | (161,394) | General and administrative | | | (19,364) | | | (19,495) | Casualty-related (charges)/recoveries, net | | | (5,729) | | | (3,297) | Other depreciation and amortization | | | (3,335) | | | (7,067) | Gain/(loss) on sale of real estate owned | | | 157,416 | | | 47,939 | Income/(loss) from unconsolidated entities | | | 19,696 | | | 5,814 | Interest expense | | | (48,576) | | | (47,701) | Interest income and other income/(expense), net | | | 2,434 | | | 1,921 | Tax (provision)/benefit, net | | | (455) | | | (158) | Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | | | (13,061) | | | (5,339) | Net (income)/loss attributable to noncontrolling interests | | | (12) | | | (12) | Net income/(loss) attributable to UDR, Inc. | | $ | 189,831 | | $ | 76,720 |
| (a) | Same-Store Community population consisted of 52,782 apartment homes. |
| (b) | Non-Mature Communities/Other operating expenses include costs to manage recently acquired, developed and redeveloped communities, and the non-apartment components of mixed-use properties. |
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| Schedule of details of assets of UDR's reportable segments |
The following table details the assets of UDR’s reportable segments as of March 31, 2026 and December 31, 2025 (dollars in thousands): | | | | | | | | | March 31, | | December 31, | | | 2026 | | 2025 | Reportable apartment home segment assets: | | | | | | | Same-Store Communities (a): | | | | | | | West Region | | $ | 4,696,038 | | $ | 4,681,206 | Northeast Region | | | 3,844,560 | | | 3,835,341 | Mid-Atlantic Region | | | 3,272,143 | | | 3,268,160 | Southeast Region | | | 1,641,936 | | | 1,634,894 | Southwest Region | | | 1,760,267 | | | 1,756,582 | Non-Mature Communities/Other | | | 993,636 | | | 1,311,702 | Total segment assets | | | 16,208,580 | | | 16,487,885 | Accumulated depreciation | | | (7,378,368) | | | (7,374,546) | Total segment assets — net book value | | | 8,830,212 | | | 9,113,339 | Reconciling items: | | | | | | | Cash and cash equivalents | | | 1,300 | | | 1,222 | Restricted cash | | | 33,498 | | | 35,710 | Notes receivable, net | | | 153,564 | | | 149,979 | Investment in and advances to unconsolidated joint ventures, net | | | 757,689 | | | 886,492 | Operating lease right-of-use assets | | | 186,641 | | | 187,624 | Other assets | | | 370,870 | | | 231,308 | Total consolidated assets | | $ | 10,333,774 | | $ | 10,605,674 |
| (a) | Same-Store Community population consisted of 52,782 apartment homes. |
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