UDR Addresses Recent Media Reports

DENVER--(BUSINESS WIRE)--UDR, Inc. (the “Company”) (NYSE: UDR), a leading multifamily real estate investment trust, announced today, in response to recent media reports concerning the Company’s interest in Mack-Cali Realty Corporation (NYSE: CLI), that the Company has not engaged in direct dialogue or correspondence with the Board of Directors or the management team of Mack-Cali Realty Corporation. In addition, as of February 7, 2020, the Company ceased all preliminary discussions regarding a potential transaction with Rizk Ventures.

About UDR, Inc.

UDR, Inc. (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S. markets. As of December 31, 2019, UDR owned or had an ownership position in 51,294 apartment homes including 878 homes under development. For over 47 years, UDR has delivered long-term value to shareholders, the best standard of service to residents and the highest quality experience for associates.