8-KExhibits & Filings

EQUITY RESIDENTIAL 8-K Report, Exhibit Filing (Jan 4, 2008)

Filed January 4, 2008For Securities:EQR

Summary

This 8-K filing by Equity Residential (EQR) reports on the company's acquisition of several significant real estate portfolios throughout 2007. The filing provides audited financial statements for these newly acquired properties, which are presented under Rule 3-14 of Regulation S-X. These acquisitions include the Florida Portfolio (2,398 units), Berkeley Portfolio (418 units), Teresina at Lomas Verdes (440 units), Upper West Side Portfolio (479 units), and Greenwood Properties (557 units). Investors should note that the company is filing this information to comply with reporting requirements for substantial acquisitions. The properties were acquired from unrelated third parties, and Equity Residential states that historical financial information is indicative of future operating results, highlighting strong and stable cash flows and high occupancy rates for these assets. The filing also includes pro forma financial information for both Equity Residential and its operating partnership, ERP Operating Limited Partnership, as of September 30, 2007.

Key Highlights

  • 1Equity Residential has filed audited financial statements for five significant real estate property portfolios acquired during 2007.
  • 2The acquired portfolios include the Florida Portfolio, Berkeley Portfolio, Teresina at Lomas Verdes, Upper West Side Portfolio, and Greenwood Properties.
  • 3These acquisitions represent a substantial expansion of Equity Residential's real estate holdings in key growth markets.
  • 4The company asserts that the historical financial performance and occupancy rates of these properties are strong and indicative of future stability.
  • 5Audited financial statements for each portfolio's recent fiscal years are provided, along with notes and reports from independent auditors.
  • 6Pro forma condensed consolidated balance sheets and statements of operations are included for both Equity Residential and ERP Operating Limited Partnership as of September 30, 2007.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report and provide audited financial statements for five significant real estate portfolios that Equity Residential acquired during 2007. This is a routine filing to disclose material acquisitions and their financial impact.

The filing details the acquisition of the Florida Portfolio (2,398 units), Berkeley Portfolio (418 units), Teresina at Lomas Verdes (440 units), Upper West Side Portfolio (479 units), and Greenwood Properties (557 units).

The filing includes audited financial statements for each acquired portfolio, specifically statements of revenue and certain expenses for their most recent fiscal years. It also provides reports from independent registered public accounting firms (Ernst & Young LLP) and notes to these financial statements.

While the filing mentions that historical and expected future cash flows are strong and stable for the acquired properties, it focuses on presenting audited historical financial information. It does not contain specific forward-looking financial projections or guidance.