DDR » Topics » Apex Phase III

This excerpt taken from the DDR 8-K filed Oct 3, 2005.
     Apex Phase III

      The company holds an 80% economic interest in a VIE (“Apex VIE”), in which the Company was determined to be the primary beneficiary. In January 2004, the Apex VIE was formed for the purpose of acquiring, developing and operating undeveloped land located in Apex, North Carolina. As of December 31, 2004, the VIE has total real estate assets of $8.5 million and total debt of approximately $8.4 million owed to the Company. The Apex VIE balance sheet and income statement are included in the Company’s consolidated financial statements as of and for the year ended December 31, 2004.

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This excerpt taken from the DDR 10-K filed Mar 16, 2005.
     Apex Phase III

      The company holds an 80% economic interest in a VIE (“Apex VIE”), in which the Company was determined to be the primary beneficiary. In January 2004, the Apex VIE was formed for the purpose of acquiring, developing and operating undeveloped land located in Apex, North Carolina. As of December 31, 2004, the VIE has total real estate assets of $8.5 million and total debt of approximately $8.4 million owed to the Company. The Apex VIE balance sheet and income statement are included in the Company’s consolidated financial statements as of and for the year ended December 31, 2004.

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EXCERPTS ON THIS PAGE:

8-K
Oct 3, 2005
10-K
Mar 16, 2005
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