UDR Takes Ownership of 173-Unit Residences at Lake Merritt in Oakland, Incurring $24.3MM Loss

The picturesque skyline of Oakland, as viewed from Lake Merritt, belies a tumultuous undercurrent affecting the city's apartment market. In recent times, this market has been grappling with a trifecta of challenges: waning demand, declining rents, and an oversupply of units. These issues have been further exacerbated by the economic aftermath of the COVID-19 pandemic, […]