LaSalle, UDR Expand JV to $850M
This latest deal includes properties located across three metro areas.
LaSalle and UDR have expanded their joint venture by $230 million, upgrading their total agreement to $850 million. This latest deal includes four assets totaling 974 units in metro Portland, Ore., Orlando, Fla., and Richmond, Va.
UDR will retain 51 percent ownership across these communities, while LaSalle will take up a 49 percent stake. Additionally, UDR will also receive $200 million in cash proceeds, while also encumbering the properties with 50 percent debt, and take further loans on other communities within the joint venture’s scope.
These four properties have an average vintage of 1985. According to a Yardi Matrix analysis of UDR’s portfolio, the following four assets match the criteria underlined by both UDR and LaSalle:
- Hunt Club, 256 units in Lake Oswego, Ore.
- Gayton Pointe, 253 units in Richmond, Va.
- Seabrook, 200 units in Winter Park, Fla.
- The Carriage Homes at Wyndham, 265 units in Glen Allen, Va.
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The duo had first partnered in 2023, with UDR contributing a seed portfolio of four properties totaling 1,328 units and an identical ownership structure of 51/49 percent. These communities are in Orange County, Calif., metro Seattle and Boston, as well as Washington, D.C.
LaSalle managed $88.5 billion in private and public real estate equity and debt investments as of June 2025. UDR, for its part, owned or had an ownership stake in 60,535 units, including 300 apartments under construction, as of September 2025.
Orlando investment outshines Portland, Richmond
During the first 11 months of 2025, Orlando’s multifamily transaction activity was up 33.7 percent year-over-year to nearly $2.1 billion, according to Yardi Matrix data. Richmond – Tidewater was up as well, though just by 5.6 percent, landing at almost $1.1 billion. Portland was the exception, with its sales activity down 6.3 percent to about $1.1 billion as well.
Other large deals to close across these markets include Blackstone’s sale of the 487-unit Bell Avalon Park in Orlando for $137 million to Bell Partners in May, as well as Weinstein Properties’ $102.2 million purchase of a 335-unit property in Richmond. Berkshire Residential Investments paid $88 million for a 265-unit community in Portland.
