---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-013492"
form_type: "8-K"
ticker: "VRMK"
cik: "0000931182"
company_name: "ERP OPERATING LTD PARTNERSHIP"
filed_at: "2023-04-19T23:59:59+00:00"
generated_at: "2026-06-17T00:15:12.485376+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# ERP Operating acquires remaining 10% of Aero Apartments for $3.7M cash + Series Q Preference Units

## Summary
- Acquired remaining 10% interest in 200-unit Aero Apartments (San Francisco Bay Area) for $3.7M cash and 933,454 Series Q Preference Units.
- Preference Units have $1.00/unit liquidation preference, 3.00% annual cumulative distribution ($0.03/unit), redeemable for cash, EQR common shares, or OP Units.
- Prior to transaction, subsidiaries owned 90%; issuance exempt under Section 4(2) of the Securities Act.

## SEC filing metadata
- accession: 0000950170-23-013492
- form_type: 8-K
- ticker: VRMK
- cik: 0000931182
- company_name: ERP OPERATING LTD PARTNERSHIP
- filed_at: 2023-04-19T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 3.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/931182/000095017023013492/0000950170-23-013492-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/931182/000095017023013492/ck0000931182-20230413.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-013492
- JSON: https://secwatch.observer/filing/0000950170-23-013492.json
- Plain text: https://secwatch.observer/filing/0000950170-23-013492.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.