Attached files
file | filename |
---|---|
8-K - FORM 8-K - UDR, Inc. | d81052e8vk.htm |
EX-99.1 - EX-99.1 - UDR, Inc. | d81052exv99w1.htm |
EX-8.1 - EX-8.1 - UDR, Inc. | d81052exv8w1.htm |
EX-8.2 - EX-8.2 - UDR, Inc. | d81052exv8w2.htm |
EX-1.1 - EX-1.1 - UDR, Inc. | d81052exv1w1.htm |
Exhibit 5.1
[Letterhead of Morrison & Foerster LLP]
March 31, 2011
UDR, Inc.
1745 Shea Center Drive, Suite 200
Highlands Ranch, Colorado 80129
1745 Shea Center Drive, Suite 200
Highlands Ranch, Colorado 80129
Re: | UDR, Inc. Issuance of Up to 20,000,000 Shares of Common Stock, $0.01 Par Value |
Ladies and Gentlemen:
We have acted as counsel to UDR, Inc., a Maryland corporation (the Company), in connection
with the issuance and sale from time to time by the Company of up to 20,000,000 shares of the
Companys common stock, $0.01 par value (the Shares) pursuant to a Registration Statement on Form
S-3 (Registration Statement No. 333-156002) (the Registration Statement), filed with the
Securities and Exchange Commission (the Commission) under the Securities Act of 1933, as amended
(the Act), the prospectus dated December 8, 2008 (the Base Prospectus), and the prospectus
supplement dated March 31, 2011, filed with the Commission pursuant to Rule 424(b) of the Rules and
Regulations of the Act (the Prospectus Supplement). The Base Prospectus and the Prospectus
Supplement are collectively referred to as the Prospectus. The Shares are to be sold by the
Company in the manner described in the Registration Statement and the Prospectus.
In connection with this opinion, we have examined originals or copies, certified or otherwise
identified to our satisfaction, of: (i) the Articles Supplementary of the Company; (ii) Articles of
Restatement of the Company, as amended through the date hereof; (iii) the Amended and Restated
Bylaws of the Company, as amended through the date hereof; (iv) certain resolutions of the board of
directors of the Company, relating to the issuance, sale and registration of the Shares; (v) the
Registration Statement; and (vi) the Prospectus. In addition, we have examined originals or copies,
certified or otherwise identified to our satisfaction, of certain other corporate records,
documents, instruments and certificates of public officials and of the Company, and we have made
such inquiries of officers of the Company and public officials and considered such questions of law
as we have deemed necessary for purposes of rendering the opinions set forth herein.
In connection with this opinion, we have assumed the genuineness of all signatures and the
authenticity of all items submitted to us as originals and the conformity with originals of all
items submitted to us as copies. In making our examination of documents executed by parties other
than the Company, we have assumed that each other party has the power and authority to execute and
deliver, and to perform and observe the provisions of, such documents and has duly authorized,
executed and delivered such
documents, and that such documents constitute the legal, valid and binding obligations of each
such party. We also have assumed the integrity and completeness of the minute books of the Company
presented to us for examination. With respect to certain factual matters, we have relied upon
certificates of officers of the Company.
UDR, Inc.
March 31, 2011
Page 2
March 31, 2011
Page 2
Based upon, subject to and limited by the foregoing, we are of the opinion that the Shares
have been duly and validly authorized and upon issuance, delivery and payment therefor in the
manner contemplated by the Registration Statement and the Prospectus, will be validly issued, fully
paid and nonassessable.
We do not express any opinion herein concerning any law other than the Maryland General
Corporation Law (including the statutory provisions, all applicable provisions of the Maryland
Constitution and the reported judicial decisions interpreting the foregoing), as in effect on the
date hereof.
We hereby consent to the filing of this opinion letter as Exhibit 5.1 to the Companys Current
Report on Form 8-K to be filed with the Commission on or about
March 31, 2011, which will be
incorporated by reference in the Registration Statement, and to reference to us under the caption
Legal Matters in the Prospectus. In giving such consent, we do not hereby admit that we are
acting within the category of persons whose consent is required under Section 7 of the Act or the
rules or regulations of the Commission thereunder.
Very truly yours,
/s/ Morrison & Foerster LLP