8-KExhibits & Filings

EQUITY RESIDENTIAL 8-K Report, Exhibit Filing (Mar 6, 2007)

Filed March 6, 2007For Securities:EQR

Summary

This 8-K filing from Equity Residential (EQR) on March 6, 2007, primarily serves to provide audited financial statements and related information for various real estate properties acquired throughout 2006. These acquisitions, conducted through its operating partnership ERP Operating Limited Partnership, include a diverse portfolio of apartment units across desirable locations in Manhattan, Florida, San Diego, Atlanta, California, Denver, and Arizona. The company emphasizes that these properties were acquired from unrelated third parties and that their historical and expected future cash flows are strong and stable, with high occupancy rates. The filing aims to fulfill regulatory requirements for reporting on significant acquisitions, offering investors insight into the specific assets contributing to EQR's portfolio growth and the operational performance of these newly acquired properties. The included financial statements cover the most recent fiscal years for these individual properties.

Key Highlights

  • 1Equity Residential (EQR) filed an 8-K on March 6, 2007, to provide financial information on properties acquired throughout 2006.
  • 2The acquisitions were made through its operating partnership, ERP Operating Limited Partnership.
  • 3A total of 13 distinct property portfolios were acquired, comprising numerous apartment units in various U.S. growth markets.
  • 4Key acquisition locations include Manhattan (New York), Florida, San Diego (California), Atlanta (Georgia), Denver (Colorado), and Scottsdale (Arizona).
  • 5The company asserts that the acquired properties have strong and stable historical and expected future cash flows and high occupancy rates.
  • 6Audited financial statements for each acquired property's most recent fiscal year are included as exhibits.
  • 7Pro forma financial information for both Equity Residential and ERP Operating Limited Partnership is also provided as of September 30, 2006, and for prior periods.

Frequently Asked Questions

The primary purpose of this 8-K filing is to provide investors with audited financial statements and related operational information for a portfolio of real estate properties acquired by Equity Residential (EQR) throughout the 2006 fiscal year. This fulfills regulatory requirements for reporting significant asset acquisitions.

Equity Residential acquired a diverse range of apartment properties in 2006. These include mid-rise buildings in urban centers like Manhattan and Denver, garden-style apartments in suburban areas, and multi-story complexes in major growth markets across Florida, California, Arizona, and Georgia.

No, this filing does not provide consolidated financial statements for the acquired properties. Instead, it includes individual audited financial statements (Statements of Revenue and Certain Expenses) for each specific property or portfolio acquired, along with reports from independent registered public accounting firms.

The pro forma financial information presents a hypothetical combined financial picture of Equity Residential and its operating partnership as if the acquired properties had been owned for the periods presented (nine months ended September 30, 2006, and full year 2005). This helps investors assess the potential impact of these acquisitions on the company's overall financial performance and position.