8-KExhibits & Filings

EQUITY RESIDENTIAL 8-K Report, Exhibit Filing (Mar 7, 2006)

Filed March 7, 2006For Securities:EQR

Summary

This Form 8-K filing by Equity Residential (EQR) on March 7, 2006, primarily serves to file audited financial statements and pro forma information for several significant real estate property acquisitions made throughout 2005. These acquisitions include the premier apartment complexes Harbor Steps in Seattle, WA, and Trump Place in New York City, as well as the Artery Properties (Northlake, Oak Mill I, Stoney Ridge) and Skyline Towers in the Washington, D.C. metropolitan area. The filing provides detailed descriptions of these properties, including unit counts, square footage, locations, and purchase prices, along with their historical and expected strong cash flows and high occupancy rates. For investors, this report signifies Equity Residential's continued aggressive growth strategy through strategic acquisitions of high-quality assets in key markets. The inclusion of detailed financial information, as required by SEC Regulation S-X, aims to provide transparency regarding the financial impact of these transactions. The company highlights that these properties are not expected to present any material factors not otherwise disclosed that would impact future operating results, reinforcing confidence in their performance potential.

Key Highlights

  • 1Equity Residential is filing financial statements and pro forma information for several acquired properties, including Harbor Steps (Seattle) and Trump Place (NYC), along with D.C. area properties (Artery Properties, Skyline Towers).
  • 2The acquired properties represent significant investments in strategic, high-demand real estate markets.
  • 3Detailed financial information as required by Rule 3-14 and Article 11 of Regulation S-X is being provided for transparency.
  • 4The company asserts that there are no undisclosed material factors impacting the future operating results of these acquired properties.
  • 5Harbor Steps, a 730-unit apartment complex in downtown Seattle, was acquired for $217.3 million.
  • 6Trump Place, a 1,325-unit complex on Manhattan's Upper West Side, was acquired for $808.8 million.
  • 7The acquired properties are generally characterized by strong historical and expected future cash flows and high occupancy rates (above 89% for all listed property groups).

Frequently Asked Questions

The primary purpose of this filing is to provide investors with audited financial statements and pro forma financial information related to Equity Residential's significant real estate property acquisitions made during 2005, including Harbor Steps, Trump Place, and several properties in the Washington, D.C. area.

Key acquisitions include Harbor Steps (730 units, Seattle, WA), Trump Place (1,325 units, New York, NY), and the Artery Properties (Northlake, Oak Mill I, Stoney Ridge, 776 units total, Washington, D.C. area), along with Skyline Towers (939 units, Washington, D.C. area).

The filing details individual purchase prices: Harbor Steps ($217.3 million), Artery Properties ($37.7M, $22.6M, $32.0M), Skyline Towers ($169.4 million), and Trump Place ($808.8 million). The total disclosed acquisition cost for these specific properties exceeds $1.2 billion.

Yes, the company highlights that these properties are in strategic, targeted markets and possess strong historical and expected future cash flows with high occupancy rates. They believe these acquisitions are indicative of strong future operating results.