4.400% Medium-Term Notes due 2029

Issuer:

UDR, Inc.

Expected Ratings (Moody's/

S&P)*:

Baa1 (Stable) / BBB+ (Stable)

Security:

4.400% Medium-Term Notes due 2029

Guarantee:

Fully and unconditionally guaranteed by United Dominion Realty, L.P.

Principal Amount:

$300,000,000

Maturity Date:

January 26, 2029

Coupon:

4.400%

Interest Payment Dates:

January 26 and July 26, commencing January 26, 2019

Price to Public:

99.998% of the principal amount, plus accrued interest from October 26, 2018

Denominations:

$2,000 and integral multiples of $1,000

Benchmark Treasury:

2.875% due August 15, 2028

Benchmark Treasury Price/Yield:

97-16+ / 3.171%

Spread to Benchmark Treasury:

T+123 bps

Yield to Maturity:

4.401%

Optional Redemption Provisions:

Make-Whole Call:

T+20 bps;

Par Call:

Redemption at par plus accrued and unpaid interest on or after October 26, 2028 as set forth in the preliminary pricing supplement

Trade Date:

October 17, 2018

Settlement Date:

October 26, 2018 (T+7); since trades in the secondary market generally settle in two business days, purchasers who wish to trade notes on the date hereof or the next succeeding four business days will be required, by virtue of the fact that the notes initially will settle in T+7, to specify alternative settlement arrangements to prevent a failed settlement.

CUSIP:

90265EAP5

ISIN:

US90265EAP51

Joint Book-Running Managers:

Citigroup Global Markets Inc.

Merrill Lynch, Pierce, Fenner & Smith
                     Incorporated

Co-Managers:

J.P. Morgan Securities LLC

PNC Capital Markets LLC

Regions Securities LLC

U.S. Bancorp Investments, Inc.

Wells Fargo Securities, LLC

BB&T Capital Markets, a division of BB&T Securities, LLC

TD Securities (USA) LLC

Credit Suisse Securities (USA) LLC

Morgan Stanley & Co. LLC

BNY Mellon Capital Markets, LLC

MUFG Securities Americas Inc.

Samuel A. Ramirez & Company, Inc.