Abstract“Property, Real Estate & Development” (MIC: SIC: 6798 NAIC: 525930)UDR is a self‐administered real estate investment trust (REIT) that is engaged in the ownership, acquisition, renovation, development and management of apartment communities nationwide. As of Dec 31 2007, Co.'s apartment portfolio included 234 communities located in 30 markets, with a total of 65,867 completed apartment homes. As of such date, Co.'s subsidiaries included two operating partnerships, Heritage Communities L.P., a Delaware limited partnership, and United Dominion Realty L.P., a Delaware limited partnership, and RE3, its subsidiary that focuses on development, land entitlement and short‐term hold investments.