8-K/AAcquisitions & DispositionsExhibits & Filings

EQUITY RESIDENTIAL 8-K/A Report, Acquisition Completed (Mar 6, 2013)

Filed March 6, 2013For Securities:EQR

Summary

Equity Residential (EQR) filed an 8-K/A on March 6, 2013, to supplement a prior filing regarding its acquisition of the Archstone Portfolio. This amendment includes crucial financial information for the acquired assets as required by SEC regulations. The acquisition, closed on February 27, 2013, involved a substantial portfolio of apartment properties and related assets from Archstone for approximately $9.0 billion, including assumed debt. This transaction significantly expands EQR's footprint, adding 20,928 apartment units in wholly owned properties and 853 units in master-leased properties, primarily in EQR's core, high-barrier-to-entry markets. The filing highlights the strategic importance of this acquisition, citing the opportunity to acquire high-quality assets in top U.S. growth markets. Investors should note that the financial information presented for the Archstone Portfolio is preliminary and subject to final purchase accounting adjustments.

Key Highlights

  • 1EQR's 8-K/A filing on March 6, 2013, provides essential financial details for the previously reported Archstone Portfolio acquisition.
  • 2The acquisition, valued at approximately $9.0 billion (including debt), closed on February 27, 2013.
  • 3The Archstone Portfolio comprises 71 wholly owned and 2 partially owned operating properties with 20,928 units, plus 3 master-leased properties with 853 units.
  • 4The acquired assets are strategically located in EQR's core markets, identified as top U.S. growth markets with high barriers to entry.
  • 5The portfolio includes approximately 19.4 million net rentable square feet of residential space and 500,000 square feet of commercial space.
  • 6Historical occupancy for the Archstone Portfolio was reported at 92.6%.
  • 7The financial information presented is preliminary and subject to final purchase accounting adjustments.

Frequently Asked Questions

This filing amends a previous 8-K to provide required financial statements and information related to Equity Residential's acquisition of the Archstone Portfolio, as mandated by SEC rules (Rule 3-14 and Article 11 of Regulation S-X).

The total purchase price for the Archstone Portfolio was approximately $9.0 billion, which includes the assumption of debt.

The acquisition allows EQR to acquire high-quality apartment properties in prime U.S. growth markets where the company already has a strategic presence. These markets are characterized by high barriers to entry, suggesting strong future potential.

No, the financial statements related to the Archstone Portfolio, particularly those prepared under Article 11 of Regulation S-X, are preliminary and may be subject to changes once final purchase accounting is completed.