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EQR » Topics » Available Information

These excerpts taken from the EQR 10-K filed Feb 26, 2009.

Available Information

You may access our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and any amendments to any of those reports we file with the SEC free of charge at our website, www.equityresidential.com. These reports are made available at our website as soon as reasonably practicable after we file them with the SEC.

Available Information

You may access our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and any amendments to any of those reports we file with the SEC free of charge at our website, www.equityresidential.com. These reports are made available at our website as soon as reasonably practicable after we file them with the SEC.

Available Information

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">You may access our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and any amendments to any of those
reports we file with the SEC free of charge at our website, www.equityresidential.com. These reports are made available at our website as soon as reasonably practicable after we file them with the SEC.

STYLE="margin-top:12px;margin-bottom:0px">Business Objectives and Operating Strategies

The
Company seeks to maximize current income, capital appreciation of each property and the total return for its shareholders. The Company’s strategy for accomplishing these objectives includes:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 







 Ÿ 

Leveraging our size and scale in four critical ways:

 







 Ÿ 

Investing in apartment communities located in strategically targeted markets to maximize our total return on an enterprise level;







 Ÿ 

Meeting the needs of our residents by offering a wide array of product choices and a commitment to service;







 Ÿ 

Engaging, retaining and attracting the best employees by providing them with the education, resources and opportunities to succeed; and

 


4






Table of Contents








 • 

Sharing resources, customers and best practices in property management and across the enterprise.

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 







 • 

Owning a highly diversified portfolio by investing in target markets defined by a combination of the following criteria:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 







 • 

High barrier-to-entry (low supply);







 • 

Strong economic predictors (high demand); and







 • 

Attractive quality of life (high demand and retention).

 







 • 

Giving residents reasons to stay with the Company by providing a range of product options available in our diversified portfolio and by enhancing their experience
through our employees and our services.

 







 • 

Being open and responsive to market realities to take advantage of investment opportunities that align with our long-term vision.

STYLE="margin-top:12px;margin-bottom:0px">Acquisition, Development and Disposition Strategies

SIZE="2">The Company anticipates that future property acquisitions, developments and dispositions will occur within the United States. Acquisitions and developments may be financed from various sources of capital, which may include retained cash
flow, issuance of additional equity and debt securities, sales of properties, joint venture agreements and collateralized and uncollateralized borrowings. In addition, the Company may acquire properties in transactions that include the issuance of
limited partnership interests in the Operating Partnership (“OP Units”) as consideration for the acquired properties. Such transactions may, in certain circumstances, enable the sellers to defer, in whole or in part, the recognition of
taxable income or gain that might otherwise result from the sales. EQR may also acquire land parcels to hold and/or sell based on market opportunities.

FACE="Times New Roman" SIZE="2">When evaluating potential acquisitions, developments and dispositions, the Company generally considers the following factors:

 







 • 

strategically targeted markets;







 • 

income levels and employment growth trends in the relevant market;







 • 

employment and household growth and net migration of the relevant market’s population;







 • 

barriers to entry that would limit competition (zoning laws, building permit availability, supply of undeveloped or developable real estate, local building costs
and construction costs, among other factors);







 • 

the location, construction quality, condition and design of the property;







 • 

the current and projected cash flow of the property and the ability to increase cash flow;







 • 

the potential for capital appreciation of the property;







 • 

the terms of resident leases, including the potential for rent increases;







 • 

the potential for economic growth and the tax and regulatory environment of the community in which the property is located;







 • 

the occupancy and demand by residents for properties of a similar type in the vicinity (the overall market and submarket);







 • 

the prospects for liquidity through sale, financing or refinancing of the property;







 • 

the benefits of integration into existing operations;







 • 

purchase prices and yields of available existing stabilized properties, if any;







 • 

competition from existing multifamily properties, comparably priced single family homes or rentals, residential properties under development and the potential for
the construction of new multifamily properties in the area; and







 • 

opportunistic selling based on demand and price of high quality assets, including condominium conversions.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The Company generally reinvests the proceeds received from property dispositions primarily to achieve its acquisition, development and rehab strategies
and at times to fund its debt and equity repurchase activities. In addition, when feasible, the Company may structure these transactions as tax-deferred exchanges.

FACE="Times New Roman" SIZE="2">See also Note 20 in the Notes to Consolidated Financial Statements for additional discussion regarding the Company’s segment disclosures.

SIZE="1"> 


5






Table of Contents


Available Information

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">You may access our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and any amendments to any of those
reports we file with the SEC free of charge at our website, www.equityresidential.com. These reports are made available at our website as soon as reasonably practicable after we file them with the SEC.

STYLE="margin-top:12px;margin-bottom:0px">Business Objectives and Operating Strategies

The
Company seeks to maximize current income, capital appreciation of each property and the total return for its shareholders. The Company’s strategy for accomplishing these objectives includes:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 







 Ÿ 

Leveraging our size and scale in four critical ways:

 







 Ÿ 

Investing in apartment communities located in strategically targeted markets to maximize our total return on an enterprise level;







 Ÿ 

Meeting the needs of our residents by offering a wide array of product choices and a commitment to service;







 Ÿ 

Engaging, retaining and attracting the best employees by providing them with the education, resources and opportunities to succeed; and

 


4






Table of Contents








 • 

Sharing resources, customers and best practices in property management and across the enterprise.

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 







 • 

Owning a highly diversified portfolio by investing in target markets defined by a combination of the following criteria:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 







 • 

High barrier-to-entry (low supply);







 • 

Strong economic predictors (high demand); and







 • 

Attractive quality of life (high demand and retention).

 







 • 

Giving residents reasons to stay with the Company by providing a range of product options available in our diversified portfolio and by enhancing their experience
through our employees and our services.

 







 • 

Being open and responsive to market realities to take advantage of investment opportunities that align with our long-term vision.

STYLE="margin-top:12px;margin-bottom:0px">Acquisition, Development and Disposition Strategies

SIZE="2">The Company anticipates that future property acquisitions, developments and dispositions will occur within the United States. Acquisitions and developments may be financed from various sources of capital, which may include retained cash
flow, issuance of additional equity and debt securities, sales of properties, joint venture agreements and collateralized and uncollateralized borrowings. In addition, the Company may acquire properties in transactions that include the issuance of
limited partnership interests in the Operating Partnership (“OP Units”) as consideration for the acquired properties. Such transactions may, in certain circumstances, enable the sellers to defer, in whole or in part, the recognition of
taxable income or gain that might otherwise result from the sales. EQR may also acquire land parcels to hold and/or sell based on market opportunities.

FACE="Times New Roman" SIZE="2">When evaluating potential acquisitions, developments and dispositions, the Company generally considers the following factors:

 







 • 

strategically targeted markets;







 • 

income levels and employment growth trends in the relevant market;







 • 

employment and household growth and net migration of the relevant market’s population;







 • 

barriers to entry that would limit competition (zoning laws, building permit availability, supply of undeveloped or developable real estate, local building costs
and construction costs, among other factors);







 • 

the location, construction quality, condition and design of the property;







 • 

the current and projected cash flow of the property and the ability to increase cash flow;







 • 

the potential for capital appreciation of the property;







 • 

the terms of resident leases, including the potential for rent increases;







 • 

the potential for economic growth and the tax and regulatory environment of the community in which the property is located;







 • 

the occupancy and demand by residents for properties of a similar type in the vicinity (the overall market and submarket);







 • 

the prospects for liquidity through sale, financing or refinancing of the property;







 • 

the benefits of integration into existing operations;







 • 

purchase prices and yields of available existing stabilized properties, if any;







 • 

competition from existing multifamily properties, comparably priced single family homes or rentals, residential properties under development and the potential for
the construction of new multifamily properties in the area; and







 • 

opportunistic selling based on demand and price of high quality assets, including condominium conversions.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The Company generally reinvests the proceeds received from property dispositions primarily to achieve its acquisition, development and rehab strategies
and at times to fund its debt and equity repurchase activities. In addition, when feasible, the Company may structure these transactions as tax-deferred exchanges.

FACE="Times New Roman" SIZE="2">See also Note 20 in the Notes to Consolidated Financial Statements for additional discussion regarding the Company’s segment disclosures.

SIZE="1"> 


5






Table of Contents


This excerpt taken from the EQR 10-K filed Feb 28, 2007.

Available Information

 

You may access our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and any amendments to any of those reports we file with the SEC free of charge at our website, www.equityresidential.com.  These reports are made available at our website as soon as reasonably practicable after we file them with the SEC.

 

This excerpt taken from the EQR 10-K filed Mar 8, 2006.

Available Information

 

You may access our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and any amendments to any of those reports we file with the SEC free of charge at our website, www.equityresidential.com. These reports are made available at our website as soon as reasonably practicable after we file them with the SEC.

 

This excerpt taken from the EQR 10-K filed Mar 14, 2005.

Available Information

 

You may access our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and any amendments to any of those reports we file with the SEC free of charge at our website, www.equityresidential.com.  These reports are made available at our website as soon as reasonably practicable after we file them with the SEC.

 

EXCERPTS ON THIS PAGE:

10-K (4 sections)
Feb 26, 2009
10-K
Feb 28, 2007
10-K
Mar 8, 2006
10-K
Mar 14, 2005

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