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Vivmark Residential Annual Report (Amendment), Year Ended Dec 31, 1997

Filing Date
Filed May 29, 1998
Period End
December 31, 1997
Security
VMRK
In the record · 2016–202610-K1110-Q328-K113

VMRK filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 113 current reports (8-K) between 2016 and 2026.

  1. FY2015 annual report10-K · Feb ’16Feb ’16
  2. Leadership change8-K · Oct ’18Oct ’18
  3. Material agreement8-K · Mar ’21Mar ’21
  4. Material agreement8-K · Dec ’25Dec ’25

01—Abstract

Summary

Summary of the 10-K/A filed May 29, 1998. Cited figures are marked; the original filing is the authoritative source.

The filing excerpt provided is only Part IV, Item 14 of EQUITY RESIDENTIAL's 10-K, the exhibit index and list of financial data schedules.

It contains no income statement, balance sheet, cash flow, FFO, occupancy, or per-share figures, so this analysis cannot assess the company's 1997 financial performance or valuation. The exhibits do point to a year of major consolidation. The company entered agreements to merge with Wellsford Residential Property Trust (January 16, 1997) and Evans Withycombe Residential, Inc. (August 27, 1997), and it restated several prior-period financial data schedules, which may indicate reporting adjustments tied to those transactions.

Other exhibits show the structure and governance around the company. The operating partnership (ERP Operating Limited Partnership) has public senior notes (8-1/2% due May 1999) and a registered debt program of up to $500 milliona. There is a second amended and restated revolving credit agreement with a syndicate led by Morgan Guaranty Trust Company of New York.

Noncompetition agreements with principal executives (Zell, Crocker, Spector, and other officers) and a consulting agreement with Stephen O. Evans, who came from Evans Withycombe, suggest retention and transition arrangements following the acquisitions. Several powers of attorney for directors and officers, along with auditor consents from Grant Thornton and Ernst & Young, are also listed.

To produce a meaningful investor assessment, the full 10-K body, including Item 1 (Business), Item 7 (MD&A), and the audited financial statements, is needed. Those sections would provide portfolio size, occupancy and rent trends, FFO, leverage, and the financial impact of the merger activity.

02—Key points

Key Highlights

  1. The excerpt is limited to the exhibit index. No financial results or operating metrics are included.
  2. Merger agreements with Wellsford Residential Property Trust (dated January 16, 1997) and Evans Withycombe Residential, Inc. (dated August 27, 1997) indicate significant portfolio consolidation during the year.
  3. Restated financial data schedules for 1996 and 1997 interim periods suggest prior financial reporting was adjusted, likely in connection with the mergers.
  4. The operating partnership has 8-1/2% senior notes due May 15, 1999 and an indenture supporting up to $500 million of debt securities.
  5. A second amended and restated revolving credit agreement, syndicated among Morgan Guaranty, Bank of America, First National Bank of Chicago, U.S. Bank, and NationsBank, provides the primary bank liquidity facility.
  6. Noncompetition and employment or consulting agreements with key executives, including Stephen O. Evans and Richard G. Berry, point to management continuity after the acquisitions.
  7. Auditor consents from Grant Thornton and Ernst & Young and multiple powers of attorney for directors are listed, reflecting standard 10-K filing requirements.

03—Questions

Frequently Asked Questions

  1. What were EQR's revenues, net income, and FFO for the year?

    This excerpt does not include the financial statements or MD&A, so these figures cannot be determined from the material provided. The full 10-K body is required.

  2. How did the Wellsford and Evans Withycombe mergers change EQR's scale?

    The exhibit list confirms that merger agreements were executed with both companies in 1997, but it does not disclose deal values, property counts, unit counts, or closing dates. Those details would appear in the Business section or the notes to the financial statements.

  3. What debt obligations does the company carry?

    The exhibits reference 8-1/2% senior notes due May 15, 1999 issued by the operating partnership and an indenture for up to $500 million of debt securities, along with a revolving credit facility. The outstanding balances, maturity profile, and covenant details are not included in this excerpt.

  4. Why were prior-period financial data schedules restated?

    The exhibit list identifies restated schedules for multiple 1996 and 1997 periods but does not state the reason. The explanation is likely in the financial statement notes or in an explanatory note in the full filing.

04—Continue

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