Entering into a material definitive agreement, completing the acquisition or disposal of assets, creating a direct financial obligation or obligation under a registrant’s off-balance sheet arrangement, disclosing the FD settlement , financial statements and supporting documents (form 8-K)
Item 1.01 Entry into a Material Definitive Agreement
As previously stated, the
Pursuant to the purchase agreement, the Company has agreed to purchase an apartment building located at
The information discussed in section 2.03 of this current report on Form 8-K is incorporated by reference in this section 1.01.
Item 2.01 Completion of Acquisition or Disposal of Assets
The property is currently 93.5% occupied. The property’s luxury amenities include a resort-style swimming pool with gazebos, a state-of-the-art fitness center with a yoga studio, outdoor community lounges with barbecues, fireplaces and garden games, a pet park, as well as a business center / conference centers and charging stations for electric vehicles. The property’s location allows residents to walk to nearby shopping destinations, including
and less than five minutes by car from both
The Company is committed
Item 2.03 Creation of a direct financial obligation
The Company financed the acquisition in part with cash on hand and loans from
using the available borrowing capacity of properties already owned.
In addition, on the Closing Date, the Purchasing Entity, as borrower, has entered into a loan agreement providing for a
The loan interest rate is set at 3.02% with monthly interest payments only for the full seven year term. The loan maturity date is
The Company paid loan financing costs of approximately
Article 7.01 Regulation FD Disclosure
The information provided in this Section 7.01, including Exhibit 99.1, is “provided” and will not be considered “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities. of this section. , nor will such information be deemed to be incorporated by reference in a filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.
Item 9.01 Financial statements and supporting documents
(a) Financial statements of assets acquired
Since it is impossible to provide the financial statements required for the acquisition of the property at the time of filing, and no financial statement (audited or unaudited) is available at this time, the Company hereby confirms that the required financial statements will be filed on or before
(b) Pro forma financial information
See paragraph (a) above. (d) Exhibits Exhibit No. Description 99.1 Press Release dated
November 22, 2021
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