LaSalle Scales Up Joint Venture with UDR, Inc. by $230 Million

LaSalle Investment Management Expands Joint Venture with UDR

In a major announcement made on December 18, 2025, LaSalle Investment Management revealed its $230 million expansion of the joint venture with UDR, Inc., a prominent multifamily real estate investment trust. This strategic move is set to elevate the total investment in the venture to approximately $850 million, significantly strengthening their market presence.

The expansion includes the addition of four apartment communities, yielding a total of 974 new homes to the portfolio. With this acquisition, the joint venture now encompasses 2,564 homes spread across various locations such as Portland, Orlando, and Richmond. The new properties, averaging a construction date of 1985, reflect an effort to diversify the venture’s portfolio geographically.

Stuart Sziklas, the Global Portfolio Manager at LaSalle, expressed enthusiasm about the ongoing partnership with UDR, describing it as a successful collaboration that has thrived since its inception. He acknowledged UDR's effectiveness in managing high-quality properties and advancing innovation within the sector. “Our joint venture with UDR has been a strong and successful collaboration since its inception, and we are pleased to continue building on that foundation,” he stated. “We look forward to finding additional opportunities to grow our relationship.”

Under the terms of this agreement, LaSalle will hold a 49 percent stake in the newly acquired assets, while UDR will retain a 51 percent ownership. Tom Toomey, the Chairman and CEO of UDR, echoed Sziklas’ sentiments, expressing delight at the opportunity to expand the successful joint venture. He highlighted that these new apartment communities would enhance the geographic diversity of their portfolio and yield immediate returns for LaSalle.

Going forward, both companies are poised to explore further growth opportunities within the joint venture throughout 2026. This expansion not only underscores their commitment to providing quality housing options but also demonstrates confidence in the multifamily real estate market.

LaSalle Investment Management, a subsidiary of JLL, is a globally integrated, diverse real estate investment manager that currently oversees about $88.5 billion in assets across private and public real estate equity and debt investments. Their clientele spans public and private pension funds, insurance companies, corporations, and individual investors worldwide.

In conclusion, the recent expansion of the LaSalle and UDR joint venture marks a significant development in the multifamily real estate sector, emblematic of a broader strategy focusing on growth and diversification. Industry experts are keenly observing the implications of this partnership as both companies point towards a robust future filled with potential opportunities and developments.