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EQR » Topics » Includes only interest expense specific to secured mortgage notes payable for properties sold.This excerpt taken from the EQR 10-Q filed May 8, 2008. Includes only interest expense specific to secured mortgage notes payable
for properties sold and/or held for sale.
For the properties sold during the quarter ended March 31, 2008 (excluding condominium conversion properties), the investment in real estate, net of accumulated depreciation balance at December 31, 2007 was $147.9 million.
The net real estate basis of the Company’s condominium conversion properties owned by the TRS and included in discontinued operations (excludes one of the Company’s halted conversions as it is now held for use), which were included in investment in real estate, net in the consolidated balance sheets, was $108.0 million and $87.2 million at March 31, 2008 and December 31, 2007, respectively.
This excerpt taken from the EQR 10-Q filed Nov 7, 2007. Includes only interest expense
specific to secured mortgage notes payable for properties sold and/or held for
sale.
For the properties sold during the nine months ended September 30, 2007 (excluding condominium conversion properties), the investment in real estate, net of accumulated depreciation, and the mortgage notes payable balances at December 31, 2006 were $964.6 million and $91.7 million, respectively.
The net real estate basis of the Company’s condominium conversion properties owned by the TRS and included in discontinued operations (excludes the Company’s six halted conversions as they are now held for use), which were included in investment in real estate, net in the consolidated balance sheets, was $82.8 million and $107.8 million at September 30, 2007 and December 31, 2006, respectively.
This excerpt taken from the EQR 10-Q filed May 8, 2006. Includes
only interest expense specific to secured mortgage notes payable for properties
sold.
For the properties sold during the quarter ended March 31, 2006 (excluding condominium conversion properties), the investment in real estate, net of accumulated depreciation, and the mortgage notes payable balances at December 31, 2005 were $422.5 million and $32.5 million, respectively. Due to the structure of the Company as a REIT and the nature of the operations of its operating properties, no provision for federal income taxes has been made at the EQR level. Historically, the Company has generally only incurred certain state and local income, excise and franchise taxes. The Company has elected Taxable REIT Subsidiary (“TRS”) status for certain of its corporate subsidiaries, primarily those entities engaged in condominium conversion and sale activities. The Company recognized provisions for income taxes of $2.7 million and $0.2 million for the quarters ended March 31, 2006 and 2005, respectively. These amounts were classified as reductions of the gain on sales of discontinued operations, net of minority interests in the accompanying consolidated statements of operations. In addition, the aggregate results of operations (primarily net operating income) of the Company’s condominium conversion properties are included in discontinued operations, net of minority interests in the accompanying consolidated statements of operations. The net real estate basis of the Company’s condominium conversion properties and land parcels owned by the TRS, which were included in investment in real estate, net in the consolidated balance sheets, was $277.9 million and $276.8 million at March 31, 2006 and December 31, 2005, respectively. 18 | EXCERPTS ON THIS PAGE:
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