EQR » Topics » Subsequent Events

This excerpt taken from the EQR 10-Q filed May 7, 2009.

Subsequent Events

Subsequent to March 31, 2009 and through April 30, 2009, the Company repaid $281.0 million of mortgage loans.

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

Subsequent Events

Subsequent to December 31, 2008 and through February 5, 2009, the Company:

 

   

Sold three apartment properties consisting of 468 units for $31.9 million (excluding condominium units);

   

Repaid $37.0 million of mortgage loans; and

   

Completed a cash tender offer by the Operating Partnership, accepting for repurchase $105.2 million principal amount of its 4.75% public notes due June 15, 2009 and $185.2 million principal amount of its 6.95% public notes due March 2, 2011.

Subsequent Events

Subsequent to December 31, 2008 and through February 5, 2009, the Company:

 

   

Sold three apartment properties consisting of 468 units for $31.9 million (excluding condominium units);

   

Repaid $37.0 million of mortgage loans; and

   

Completed a cash tender offer by the Operating Partnership, accepting for repurchase $105.2 million principal amount of its 4.75% public notes due June 15, 2009 and $185.2 million principal amount of its 6.95% public notes due March 2, 2011.

This excerpt taken from the EQR 8-K filed Dec 15, 2008.

Subsequent Events

Subsequent to December 31, 2007 and through February 6, 2008, the Company:

 

   

Acquired the remaining equity interest it did not previously own of a 144 unit partially-owned property for $5.9 million;

 

   

Sold seven apartment properties consisting of 1,420 units for $107.3 million (excluding condominium units);

 

   

Terminated three forward-starting swaps paying $13.2 million in conjunction with locking the interest rate on a $500.0 million secured mortgage loan pool scheduled to close in March 2008; and

 

   

Repaid $17.9 million of mortgage loans.

Subsequent to December 31, 2007 and through February 22, 2008, the Company repurchased 170,956 Common Shares at an average price of $36.78 per share for total consideration of $6.3 million, leaving $469.3 million remaining available for share repurchases.

This excerpt taken from the EQR 10-Q filed Nov 6, 2008.

Subsequent Events

Subsequent to September 30, 2008 and through October 30, 2008, the Company:

 

   

Sold two apartment properties consisting of 278 units for $27.8 million (excluding condominium units);

   

Repaid $21.1 million of mortgage bonds; and

   

Repurchased in excess of $100.0 million of its unsecured notes on the open market.

 

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This excerpt taken from the EQR 10-Q filed Aug 7, 2008.

Subsequent Events

Subsequent to June 30, 2008 and through July 31, 2008, the Company:

 

   

Sold one apartment property consisting of 296 units for $21.7 million (excluding condominium units);

   

Entered into a $50.0 million forward starting swap to hedge changes in interest rates related to a future secured or unsecured debt issuance;

   

Rate locked on a $550.0 million secured loan expected to close in the third quarter of 2008; and

   

Repaid $4.1 million of mortgage loans.

 

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This excerpt taken from the EQR 8-K filed May 30, 2008.

Subsequent Events

 

Subsequent to December 31, 2007 and through February 6, 2008, the Company:

 

·      Acquired the remaining equity interest it did not previously own of a 144 unit partially-owned property for $5.9 million;

·      Sold seven apartment properties consisting of 1,420 units for $107.3 million (excluding condominium units);

·      Terminated three forward-starting swaps paying $13.2 million in conjunction with locking the interest rate on a $500.0 million secured mortgage loan pool scheduled to close in March 2008; and

·      Repaid $17.9 million of mortgage loans.

 

Subsequent to December 31, 2007 and through February 22, 2008, the Company repurchased 170,956 Common Shares at an average price of $36.78 per share for total consideration of $6.3 million, leaving $469.3 million remaining available for share repurchases.

 

This excerpt taken from the EQR 10-Q filed May 8, 2008.

Subsequent Events

 

Subsequent to March 31, 2008 and through May 1, 2008, the Company sold one apartment property consisting of 115 units for $12.3 million (excluding condominium units).

 

This excerpt taken from the EQR 10-Q filed Nov 7, 2007.

Subsequent Events

 

Subsequent to September 30, 2007 and through October 31, 2007, the Company:

 

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                  Acquired 10,000 square feet of floor area rights for $1.9 million associated with a land parcel sold during the quarter ended June 30, 2007 that was held by the Company and a third-party joint venture partner.  The floor area rights were sold on the same day for $4.3 million;

                  Obtained a three-year (subject to two one-year extension options) $500.0 million senior unsecured credit facility (term loan) which generally pays a variable interest rate of LIBOR plus a spread dependent upon the current credit rating on the Operating Partnership’s long-term senior unsecured debt; and

                  Repaid $22.9 million in mortgage loans in conjunction with the closing of $116.9 million in construction loans on partially owned (consolidated) development properties.

 

This excerpt taken from the EQR 10-Q filed Aug 7, 2007.

Subsequent Events

Subsequent to June 30, 2007 and through August 1, 2007, the Company:

·                  Acquired three residential properties consisting of 830 units and two land parcels for $196.9 million;

·                  Sold six residential properties consisting of 2,363 units for $381.5 million (excluding condominium units);

 

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·                  Repaid $26.9 million of mortgage loans;

·                  Repaid $50.0 million of 6.9% fixed rate public notes at maturity;

·                  Obtained $338.0 million in mortgage debt; and

·                  Redeemed its $175.0 million Series D Preferred Shares (see Note 3).

Subsequent to June 30, 2007 and through August 3, 2007, the Company repurchased 2,739,000 Common Shares at an average price of $42.12 per share for total consideration of $115.4 million, leaving $220.5 million remaining available for share repurchases.

This excerpt taken from the EQR 10-Q filed May 9, 2007.

Subsequent Events

Subsequent to March 31, 2007 and through May 2, 2007, the Company:

·                  Acquired $314.1 million of residential properties consisting of ten properties and 1,380 units and one land parcel;

·                  Sold ten residential properties consisting of 2,198 units for $205.5 million (excluding condominium units);

·                  Assumed $111.7 million of mortgage debt in connection with the acquisition of eight properties;

·                  Repaid $69.6 million of mortgage loans and $50.0 million of unsecured notes; and

·                  Was released from $54.5 million of mortgage debt assumed by the purchaser on disposed properties.

On April 27, 2007, the Board of Trustees approved an increase of $200.1 million to the Company’s authorized share repurchase program.  As of April 27, 2007 and after giving effect to the above increase, the Company was authorized to repurchase $500.0 million of additional Common Shares.  Following the increased authorization (from May 2, 2007 through May 4, 2007), the Company repurchased an additional 1,296,000 of its Common Shares at an average price of $46.00 per share for total consideration of $59.6 million.  As a result, the Company is now authorized to repurchase $440.4 million of additional Common Shares as of May 4, 2007.

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