SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) May 3, 1999
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HOMESTEAD VILLAGE INCORPORATED
(Exact Name of Registrant as Specified in its Charter)
Maryland
(State or Other Jurisdiction of Incorporation)
1-12269
(Commission File Number)
74-2770966
(I.R.S. Employer Identification No.)
2100 RiverEdge Parkway, Atlanta, Georgia 30328
(Address of Principal Executive Offices) (Zip Code)
(770) 303-2200
(Registrant's Telephone Number, Including Area Code)
Not applicable
(Former name or former address, if changed since last report)
<PAGE>
Item 2. Acquisition or Disposition of Assets
On May 3, 1999, Homestead Village Incorporated ("Homestead")
announced that it is in discussions regarding a potential business
combination transaction. A copy of this press release is files as an
exhibit to this report and is incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
99.1 Press Release dated May 3, 1999.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
HOMESTEAD VILLAGE INCORPORATED
Dated: May 3, 1999 By: /s/ Jeffrey A. Klopf
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Jeffrey A. Klopf
Senior Vice President and Secretary
Contact: Investor Relations, Kelly F. Lee
800/201-9455 / 770-303-8299
N e w s R e l e a s e
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HOMESTEAD VILLAGE ANNOUNCES DISCUSSIONS
ATLANTA (May 3, 1999) Homestead Village Incorporated (NYSE: HSD)
announced today that it is in discussions regarding a potential business
combination transaction with an unaffiliated third party. The Company
stated, however, that there can be no assurance whatsoever as to the terms
of any such transaction or that any agreement or understanding regarding a
transaction will be reached. In the event the Company does enter into a
definitive agreement prior to May 21, 1999, the Company would withdraw its
pending rights offering in accordance with its terms. In the event that the
rights offering is withdrawn, the rights would be valueless.
Homestead Village Incorporated, a leading owner and operator of
moderately priced, extended stay lodging properties throughout the United
States, is focused on the corporate business traveler, and has developed a
proprietary operating system to ensure its customers a consistent,
high-quality, uniform lodging experience. Homestead seeks to build a
national brand recognized and valued by its major corporate customers by
concentrating and delivering high-quality service and product in strategic
locations. As of March 31, 1999, Homestead had 125 properties operating in
37 markets, including 24 of the top 25 travel destination markets.
In addition to historical information, this press release contains
forward-looking statements under the federal securities laws. These
statements are based on current expectations, estimates and projections
about the industry and markets in which Homestead operates, management's
beliefs and assumptions made by management. Forward-looking statements are
not guarantees of future performance and involve certain risks and
uncertainties which are difficult to predict. Actual operating results may
be affected by changes in national and local economic conditions,
competitive market conditions, changes in financial markets or interest
rates that could adversely affect Homestead's cost of capital and its
ability to meet its financing needs and obligations, weather, obtaining
governmental approvals and meeting development schedules, and therefore,
may differ materially from what is expressed or forecasted in this press
release.
