AQQ » Topics » ACQUISITIONS

These excerpts taken from the AQQ 10-K filed Mar 16, 2009.
Acquisitions
 
In April 2008, the Company acquired a 178,000 square foot office property consisting of two adjacent buildings located in Houston, Texas. Acquisition costs for the property were funded with new mortgage debt and proceeds generated from the February 2008 sale of its Columbia property, described below.
 
Acquisitions


 



In April 2008, the Company acquired a 178,000 square foot
office property consisting of two adjacent buildings located in
Houston, Texas. Acquisition costs for the property were funded
with new mortgage debt and proceeds generated from the February
2008 sale of its Columbia property, described below.


 




ACQUISITIONS
 
2008.
 
On April 30, 2008, the Company purchased Fountain View Place, a 178,000 square foot office property located in Houston, Texas. The project, which consists of two adjacent buildings, is within blocks of the Company’s 2401 Fountain View office building. Acquisition costs for the property were funded with new mortgage debt and proceeds from a tax-deferred exchange.
 
2007.
 
In March and April 2007, the Company completed the acquisition of a multi-tenant industrial park located in Houston, Texas. The industrial park consists of approximately 400,000 leasable square feet. The park includes 12 acres of land on which the Company anticipates developing an additional 100,000 square feet of multi-tenant industrial space. The Company also acquired another industrial property and one retail property located in Houston Texas in April 2007. These two properties have an aggregate rentable square footage of 76,000. Acquisition costs for the three properties were primarily funded with mortgage debt, with the remainder in cash.
 
ACQUISITIONS


 




2008.


 



On April 30, 2008, the Company purchased Fountain View
Place, a 178,000 square foot office property located in
Houston, Texas. The project, which consists of two adjacent
buildings, is within blocks of the Company’s 2401 Fountain
View office building. Acquisition costs for the property were
funded with new mortgage debt and proceeds from a tax-deferred
exchange.


 




2007.


 



In March and April 2007, the Company completed the acquisition
of a multi-tenant industrial park located in Houston, Texas. The
industrial park consists of approximately 400,000 leasable
square feet. The park includes 12 acres of land on which
the Company anticipates developing an additional
100,000 square feet of multi-tenant industrial space. The
Company also acquired another industrial property and one retail
property located in Houston Texas in April 2007. These two
properties have an aggregate rentable square footage of 76,000.
Acquisition costs for the three properties were primarily funded
with mortgage debt, with the remainder in cash.


 




These excerpts taken from the AQQ 10-K filed Mar 24, 2008.
ACQUISITIONS
 
2007.
 
In March and April 2007, the Company completed the acquisition of a multi-tenant industrial park located in Houston, Texas. The industrial park consists of approximately 400,000 leasable square feet. The park includes 12 acres of land on which the Company anticipates developing an additional 100,000 square feet of multi-tenant industrial space. The Company also acquired two retail properties located in Houston Texas in April 2007. These two properties have an aggregate rentable square footage of 76,000. Acquisition costs for the three properties were primarily funded with mortgage debt, with the remainder in cash.
 
2006.
 
During the second quarter of 2006, the Company purchased three office properties: two located in Houston, Texas and one located in Victoria, Texas. The three properties have an aggregate rentable square footage of 192,747 square feet. Acquisition costs consisted of the assumption of debt, seller financing and use of proceeds from tax-deferred exchanges.
 
During the first quarter of 2006, the Company purchased four office properties located in Houston, Texas. The four properties have an aggregate rentable square footage of 381,605 square feet. Acquisition costs consisted of a new mortgage loan, the assumption of debt, seller financing and use of proceeds from tax-deferred exchanges.
 
ACQUISITIONS


 




2007.


 



In March and April 2007, the Company completed the acquisition
of a multi-tenant industrial park located in Houston, Texas. The
industrial park consists of approximately 400,000 leasable
square feet. The park includes 12 acres of land on which
the Company anticipates developing an additional
100,000 square feet of multi-tenant industrial space. The
Company also acquired two retail properties located in Houston
Texas in April 2007. These two properties have an aggregate
rentable square footage of 76,000. Acquisition costs for the
three properties were primarily funded with mortgage debt, with
the remainder in cash.


 




2006.


 



During the second quarter of 2006, the Company purchased three
office properties: two located in Houston, Texas and one located
in Victoria, Texas. The three properties have an aggregate
rentable square footage of 192,747 square feet. Acquisition
costs consisted of the assumption of debt, seller financing and
use of proceeds from tax-deferred exchanges.


 



During the first quarter of 2006, the Company purchased four
office properties located in Houston, Texas. The four properties
have an aggregate rentable square footage of 381,605 square
feet. Acquisition costs consisted of a new mortgage loan, the
assumption of debt, seller financing and use of proceeds from
tax-deferred exchanges.


 




This excerpt taken from the AQQ 10-K filed Mar 15, 2007.
ACQUISITIONS
 
2006.
 
During the second quarter of 2006, the Company purchased three office properties: two located in Houston, Texas and one located in Victoria, Texas. The three properties have an aggregate rentable square footage of 192,747 square feet. Acquisition costs consisted of the assumption of debt, seller financing and use of proceeds from tax-deferred exchanges.
 
During the first quarter of 2006, the Company purchased four office properties located in Houston, Texas. The four properties have an aggregate rentable square footage of 381,605 square feet. Acquisition costs consisted of a new mortgage loan, the assumption of debt, seller financing and use of proceeds from tax-deferred exchanges.
 
2005.
 
No properties were acquired during 2005.
 
This excerpt taken from the AQQ 10-K filed Mar 23, 2006.
ACQUISITIONS

2005.

No properties were acquired in 2005. As of the date of this Form 10-K, the Company has acquired two properties during 2006 (See Note 20—Subsequent Events).

2004.

On October 21, 2004, the Company acquired an office property in Houston, Texas, consisting of approximately 81,538 rentable square feet. The aggregate acquisition costs of approximately $5,900,000 included proceeds from a previously sold property, the assumption of existing debt and seller financing.

On August 2, 2004, the Company acquired a 42,860 square foot office property in Houston, Texas, which is adjacent to an office property owned by the Company. The Company previously held the note on the property. Acquisition costs of approximately $2,084,000 included the settlement of the note, the issuance of 10,000 shares of restricted Common Stock and cash.

ACQUISITIONS

 

2005.

 

No properties were acquired during the first six months of 2005.

 

2004.

 

On October 21, 2004, the Company acquired an office property in Houston, Texas, consisting of approximately 81,538 rentable square feet.  The aggregate acquisition costs of approximately $5,900,000 included proceeds from a previously sold property, the assumption of existing debt and seller financing.

 

On August 2, 2004, the Company acquired a 42,860 square foot office property in Houston, Texas, which is adjacent to an office property owned by the Company.  The Company previously held the note on the

 

12



 

property.  Acquisition costs of approximately $2,084,000 included the settlement of the note, the issuance of 10,000 shares of restricted Common Stock and cash.   The shares, which are currently held in escrow, will be released in August 2005 so long as the property’s largest tenant does not default on its lease agreement.  The Company also entered into an agreement with the seller in which the seller will participate in any profits generated from the future sale of the property or, if demanded by the Company or seller after the third anniversary date of the agreement, a sum determined by the property’s fair market value at that time.

 

This excerpt taken from the AQQ 10-Q filed May 9, 2005.

ACQUISITIONS

 

2005.

 

No properties were acquired during the first quarter of 2005.

 

2004.

 

On October 21, 2004, the Company acquired an office property in Houston, Texas, consisting of approximately 81,538 rentable square feet.  The aggregate acquisition costs of approximately $5,900,000 included proceeds from a previously sold property, the assumption of existing debt and seller financing.

 

On August 2, 2004, the Company acquired a 42,860 square foot office property in Houston, Texas, which is adjacent to an office property owned by the Company.  The Company previously held the note on the property.  Acquisition costs of approximately $2,084,000 included the settlement of the note, the issuance of 10,000 shares of restricted Common Stock and cash.   The shares, which are currently held in escrow, will be released in August 2005 so long as the property’s largest tenant does not default on its lease agreement.  The Company also entered into an agreement with the seller in which the seller will participate in any profits generated from the future sale of the property or, if demanded by the Company or seller after the third anniversary date of the agreement, a sum determined by the property’s fair market value at that time.

 

This excerpt taken from the AQQ 10-K filed Mar 21, 2005.

ACQUISITIONS

2004.

        On October 21, 2004, the Company acquired an office property in Houston, Texas, consisting of approximately 81,538 rentable square feet. The aggregate acquisition costs of approximately $5,900,000 included proceeds from a previously sold property, the assumption of existing debt and seller financing.

        On August 2, 2004, the Company acquired a 42,860 square foot office property in Houston, Texas, which is adjacent to an office property owned by the Company. The Company previously held the note on the property. Acquisition costs of approximately $2,084,000 included the settlement of the note, the issuance of 10,000 shares of restricted Common Stock and cash. The shares, which are currently held in escrow, will be released in August 2005 so long as the property's largest tenant does not default on its lease agreement. The Company also entered into an agreement with the seller in which the seller will participate in any profits generated from the future sale of the property or, if demanded by the Company or seller after the third anniversary date of the agreement, a sum determined by the property's fair market value at that time.

2003.

        During 2003, the Company acquired four office properties, three of which were from an affiliated entity. The properties are located in Houston, Texas and consist of approximately 250,437 rentable square feet. Acquisition costs of approximately $16,088,000 included assumed or new mortgage indebtedness of $13,465,000, the issuance of 382,537 OP Units (valued for this purpose at $4.11 per unit), proceeds from a tax deferred exchange of $543,000, deferred payments of $191,000 with the remainder in cash.

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