# UDR Closes $2 Billion Apollo Venture as Q3 FFOA Holds at $0.65 By John Kim Canonical URL: https://www.tokenpost.com/news/business/47122 Published: 2026-11-03T01:11:25.000Z Updated: 2026-11-03T01:11:25.000Z Section: Business > The partnership covers 19 communities with 7,059 apartment homes. UDR raised its 2026 FFOA guidance range after third-quarter revenue fell 0.9%. UDR, Inc. completed its Apollo partnership on Oct. 30, a deal involving 19 communities and 7,059 apartment homes valued at about $2 billion, as its finalized third-quarter results showed FFO as adjusted (FFOA) unchanged from a year earlier. UDR received $1.34 billion in equity capital and retained about a one-third interest in the partnership. The closing advances the [planned Apollo-managed UDR venture stake]() previously covered by TokenPost. In results released Nov. 2 for the quarter ended Sept. 30, UDR reported FFO as adjusted (FFOA) of $0.65 per diluted share. Standard funds from operations (FFO) was $0.62 per diluted share. Both figures matched the third quarter of 2025. Revenue totaled $428.081 million, down from $431.864 million a year earlier, a decline of 0.9%. Same-store net operating income rose 1.6%, excluding the 19 communities in the Apollo joint venture. Net income reached $0.67 per diluted share, compared with $0.12 in the year-earlier quarter. UDR recorded a $190.084 million gain on the sale of real estate it owned. The company raised its 2026 FFOA guidance to $2.54-$2.56 per diluted share, from $2.49-$2.57. Its full-year FFO guidance is now $2.48-$2.50 per diluted share, compared with the previous range of $2.47-$2.55. “Third quarter operational results and FFOA per diluted share exceeded our expectations and drove our second guidance raise of 2026,” said Tom Toomey, UDR’s chairman, president and CEO. UDR’s Oct. 21 preliminary update had already projected third-quarter FFOA of $0.65 per diluted share; the Nov. 2 results finalized the quarter’s figures. ## Links in this article - [planned Apollo-managed UDR venture stake](https://www.tokenpost.com/news/business/37181)