secwatch.observer — SEC 8-K summary
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Issuer:     ERP OPERATING LTD PARTNERSHIP (VRMK)
CIK:        0000931182
Form:       8-K
Filed at:   2023-04-19T23:59:59+00:00
Accession:  0000950170-23-013492
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/931182/000095017023013492/0000950170-23-013492-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/931182/000095017023013492/ck0000931182-20230413.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-013492

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer