UDR Named Smart Buildings Innovator of the Year by Logical Buildings for Second Year in a Row

Rhea-AI Summary

UDR, a leading multifamily real estate investment trust, has been recognized as the Smart Buildings Innovator of the Year for the second consecutive year by Logical Buildings. The Company has successfully implemented smart building technologies across over 80% of its high-rise portfolio, resulting in annual energy consumption reductions exceeding 10% and the avoidance of about 1,100 metric tons of CO2 emissions. UDR aims to decrease energy consumption and greenhouse gas emissions by 15% by 2025 through its Next Generation Platform, enhancing sustainability and shareholder value.

Positive

• Recognition as Smart Buildings Innovator of the Year for two consecutive years.
• Implemented smart technologies in over 80% of high-rise portfolio.
• Energy consumption reduced by over 10% annually, avoiding approximately 1,100 metric tons of CO2 emissions.
• Commitment to decrease energy consumption and GHG emissions by 15% by 2025.

Negative

• None.

UDR, Inc. (the “Company”) (NYSE: UDR), a leading multifamily real estate investment trust, announced today that the Company was named the Smart Buildings Innovator of the Year for the second consecutive year by smart building developer, integrator and services provider Logical Buildings.

UDR continues to lead the Multifamily industry in technology innovation and has expanded its Smart Building policies and procedures to over 80% of the Company’s high-rise portfolio. Through utilizing Logical Buildings’ smart building mobile solution platform, SmartKit AI, the Company can monitor energy, equipment operations, and control HVAC temperatures from a single centralized real-time dashboard to lower energy costs, extract new streams of revenue, and reduce carbon emissions. This technology enables the Company’s buildings to reduce their annual common area energy consumption by over 10% compared to pre-installation levels, resulting in annual avoided emissions totaling approximately 1,100 metric tons of carbon dioxide equivalent (CO₂e). UDR’s Next Generation Platform (the “Platform”), which includes Smart Buildings, is an integral part in achieving the Company’s environmental goals to reduce energy consumption and GHG emission by 15% by 2025.

"UDR leads the multifamily market nationally as the innovator of all things “smart” that buildings can deploy to lower energy cost, reduce carbon emissions, and enhance the health and wellbeing of their residents and tenants. Especially during the challenging 2020 pandemic year, UDR stood out as the innovative owner/operator utilizing 24/7 mobile tools and smart building cloud dashboards to continually monitor and manage building operations and ensure residents could work from home in the most sustainable environment,” said Logical Buildings CEO Jeff Hendler.

“UDR is committed to continuing to implement innovative technology solutions to improve the Company’s environmental sustainability and lower controllable expenses as part of the Company’s continued Platform roll-out,” said Matt Cozad, Senior Vice President of Corporate Services and Innovation. “The ability to manage and analyze the Company’s portfolio energy performance on a real-time basis from a centralized location provides efficiency and standardization that enables UDR to drive tangible sustainability outcomes and improve shareholder value.”

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, 2020, UDR owned or had an ownership position in 52,589 apartment homes including 1,176 homes under development. For over 48 years, UDR has delivered long-term value to shareholders, the best standard of service to residents and the highest quality experience for associates. Additional information can be found on the Company's website at ir.udr.com.

About Logical Buildings

Logical Buildings is a smart building technology software developer, IoT and DER systems integrator and smart building services provider. Integration of Logical Buildings’ products and services in large multifamily, commercial, industrial, and manufacturing properties materially reduces operating expenses, generates revenue from existing mechanical equipment, enables wireless connectivity, and improves building operations/fault detection/resiliency. Our SmartKit AI, Smart Building AI IoT Platform and Software Analytics, and EPAX Energy Procurement Advisory and Execution software platforms are now contracted to serve more than 200 million square feet. The platforms were built by energy and telecommunication systems engineers and our shareholders – owners and developers of more than $10 billion of multifamily and mixed-use properties. Logical Buildings (formerly Energy Technology Savings, Inc. or ETS) is committed to growing your building’s revenue while reducing its energy and operating costs and enhancing building sustainability and resiliency. For more information, visit www.logicalbuildings.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210302006070/en/

FAQ

What is UDR's recent award in smart building technology?

UDR was named the Smart Buildings Innovator of the Year for the second consecutive year by Logical Buildings.

How much has UDR reduced its annual energy consumption?

UDR has reduced its annual energy consumption by over 10% compared to pre-installation levels.

What is UDR's goal for greenhouse gas emissions by 2025?

UDR aims to reduce energy consumption and greenhouse gas emissions by 15% by 2025.

How many apartment homes does UDR currently manage?

As of December 31, 2020, UDR owned or had an ownership position in 52,589 apartment homes.