EQUITY OFFICE PROPERTIES TRUST
424B3, 2001-01-19
REAL ESTATE INVESTMENT TRUSTS
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PROSPECTUS SUPPLEMENT DATED JANUARY 4, 2001
(To Prospectus Dated December 5, 2000)
FILED PURSUANT TO RULE 424(b)(3)
SEC FILE NO. 333-47754

$325,000,000
Senior Exchangeable Notes due November 15, 2008 of EOP Operating Limited Partnership
Exchangeable Into Common Shares of Beneficial Interest of
Equity Office Properties Trust

      This prospectus supplement relates to resales by the holders of EOP Operating Limited Partnership’s Senior Exchangeable Notes due November 15, 2008 and the common shares of beneficial interest, $.01 par value per share, of Equity Office Properties Trust issuable upon exchange of the notes. This prospectus supplement amends and supplements, and should be read in conjunction with, the prospectus dated December 5, 2000, which is to be delivered with this prospectus supplement.

      The Selling Holder table, appearing under the heading “Selling Holders” beginning on page 46 of the accompanying prospectus, is superseded by the information included in the table below.

                                 
Principal Amount
of Notes
Beneficially Owned Principal Amount Common Shares Common Shares
Prior to the of Notes Owned Prior Offered
Name Offering Offered Hereby to the Offering(1) Hereby(2)





AEW Targeted Securities Fund II, L.P.
    5,000,000       5,000,000       147,058 (3)     147,058  
AFTRA Health Fund
    1,000,000       1,000,000       29,411       29,411  
AIG SoundShore Holdings Ltd.
    5,020,000       5,020,000       147,647       147,647  
AIG SoundShore Opportunity Holding Fund Ltd.
    4,325,000       4,325,000       127,205       127,205  
AIG SoundShore Strategic Holding Fund Ltd.
    3,530,000       3,530,000       103,823       103,823  
American Fidelity Assurance Company
    225,000       225,000       6,617       6,617  
American Founders Life Insurance Company
    300,000       300,000       8,823       8,823  
Amerisure Companies/ Michigan Mutual Insurance Company
    675,000       675,000       19,852       19,852  
Amwest Surety Insurance Company
    520,000       520,000       15,294       15,294  
Associated Electric & Gas Insurance Services Limited
    1,000,000       1,000,000       29,411       29,411  
Bankers Life and Casualty Insurance Company — Convertible
    2,500,000       2,500,000       73,529       73,529  
Bay State Insurance Co. Ltd.
    150,000       150,000       4,411       4,411  
Blue Cross Blue Shield of Florida
    750,000       750,000       22,058       22,058  
CALAMOS® Global Convertible Fund — CALAMOS® Investment Trust
    315,000       315,000       9,264       9,264  
California State Auto Association Inter Insurance
    900,000       900,000       26,470       26,470  
California State Auto Association Retirement Pension
    150,000       150,000       4,411       4,411  
CapitalCare, Inc.
    100,000       100,000       2,941       2,941  
CareFirst of Maryland, Inc.
    325,000       325,000       9,558       9,558  
Catholic Relief Insurance Company of America
    600,000       600,000       17,647       17,647  


                                 
Principal Amount
of Notes
Beneficially Owned Principal Amount Common Shares Common Shares
Prior to the of Notes Owned Prior Offered
Name Offering Offered Hereby to the Offering(1) Hereby(2)





CFFX, LLC
    2,000,000       2,000,000       58,823       58,823  
Champion International Corporation Master Retirement Trust
    650,000       650,000       19,117       19,117  
Charitable Convertible Securities Fund
    1,000,000       1,000,000       29,411       29,411  
Charitable Income Fund
    160,000       160,000       4,705       4,705  
CIF-PRP Fixed Income
    370,000       370,000       10,882       10,882  
City of Albany Pension Plan
    275,000       275,000       8,088       8,088  
City of Birmingham Retirement & Relief System
    1,150,000       1,150,000       33,823       33,823  
Condor Insurance Company
    175,000       175,000       5,147       5,147  
Conseco Annuity Assurance Company Convertible
    1,000,000       1,000,000       29,411       29,411  
Conseco Annuity Assurance Multi Bucket Annuity Convertible Bond Fund
    6,000,000       6,000,000       176,470       176,470  
Conseco Direct Life Insurance Company Convertible
    2,500,000       2,500,000       73,529       73,529  
Conseco Fund Group Convertible Securities Fund
    1,000,000       1,000,000       29,411       29,411  
Conseco Health Insurance Company Convertible
    1,000,000       1,000,000       29,411       29,411  
Conseco Senior Health Insurance Company Convertible
    1,000,000       1,000,000       29,411       29,411  
Credit Industriel D’Alsacce et de Lorraine
    18,000,000       18,000,000       529,411       529,411  
Delta Airlines Master Trust
    2,700,000       2,700,000       79,411       79,411  
D.E. Shaw Investments, L.P.
    800,000       800,000       23,529       23,529  
D.E. Shaw Valence, L.P.
    1,200,000       1,200,000       35,294       35,294  
Dorinco Reinsurance Company
    900,000       900,000       26,470       26,470  
EB Convertible Sec. Fd. 
    950,000       950,000       27,941       27,941  
Educators Mutual Life Insurance Company
    170,000       170,000       5,000       5,000  
ELF Aquitaine
    325,000       325,000       9,558       9,558  
Employee Benefit Convertible Securities Fund
    200,000       200,000       5,882       5,882  
Equity & Convertible Fund
    2,000,000       2,000,000       58,823       58,823  
Fist Convertible Securities Fund
    3,750,000       3,750,000       110,294       110,294  
First Mercury Insurance Company
    680,000       680,000       20,000       20,000  


                                 
Forest Convertible Fund
    300,000       300,000       8,823       8,823  
Forest Fulcrum Fund LP
    200,000       200,000       5,882       5,882  
Forest Global Convertible Fund
    800,000       800,000       23,529       23,529  
Forest Performance Fund LP
    1,300,000       1,300,000       38,235       38,235  
Franklin Cust. Funds — Income Series
    44,500,000       44,500,000       1,308,823       1,308,823  
FreeState Health Plan, Inc.
    100,000       100,000       2,941       2,941  
FSS Strategic Income Fund
    2,250,000       2,250,000       66,176       66,176  
FVAF Income Securities Fund
    4,400,000       4,400,000       129,411       129,411  
Genesee County Employees’ Retirement System
    275,000       275,000       8,088       8,088  
Granville Capital Corporation
    2,000,000       2,000,000       83,823       58,823  
Group Hospitalization and Medical Services, Inc.
    375,000       375,000       11,029       11,029  

S-2


                                 
Principal Amount
of Notes
Beneficially Owned Principal Amount Common Shares Common Shares
Prior to the of Notes Owned Prior Offered
Name Offering Offered Hereby to the Offering(1) Hereby(2)





Health Fdn of Greater Cincinnati
    200,000       200,000       5,882       5,882  
HealthNow New York, Inc.
    100,000       100,000       2,941       2,941  
Highbridge International LLC
    9,700,000       9,700,000       285,294       285,294  
IL Annuity & Insurance Co.
    12,000,000       12,000,000       352,941       352,941  
Indiana Lumbermens Mutual Insurance Company
    500,000       500,000       14,705       14,705  
Jackson County Employees’ Retirement System
    325,000       325,000       9,558       9,558  
JC Penney Life Insurance Co.
    2,400,000       2,400,000       70,588       70,588  
J.P. Morgan Securities, Inc.(4)
    5,000,000       5,000,000       147,058       147,058  
Kenwood Insurance Co. Ltd.
    225,000       225,000       6,617       6,617  
Kettering Medical Center Funded Depreciation Account
    100,000       100,000       2,941       2,941  
Key Tr. Convertible Sec. Fd. 
    250,000       250,000       7,352       7,352  
Key Trust Fixed Income Fund
    240,000       240,000       7,058       7,058  
LDG Limited
    1,000,000       1,000,000       29,411       29,411  
Lehman Brothers Inc.(5)
    3,075,000       3,075,000       90,441       90,441  
Leonardo, L.P.
    10,000,000       10,000,000       294,117       294,117  
Lord Abbett Bond Debenture Fund
    2,000,000       2,000,000       58,823       58,283  
Lutheran Brotherhood
    3,500,000       3,500,000       197,441       102,941  
Luxor Asset Management
    1,000,000       1,000,000       29,411       29,411  
Macomb County Employees’ Retirement System
    300,000       300,000       8,823       8,823  
Mainstay Convertible Fund
    9,000,000       9,000,000       264,705       264,705  
Mainstay VP Convertible Portfolio
    3,000,000       3,000,000       88,235       88,235  
Michigan Professional Insurance Exchange
    120,000       120,000       3,529       3,529  
Museum of Fine Arts, Boston
    130,000       130,000       3,823       3,823  
Nashville Electric Service
    200,000       200,000       5,882       5,882  
Nations Convertible Securities Fund
    3,800,000       3,800,000       111,764       111,764  
New York Life Insurance and Annuity Corporation
    975,000       975,000       28,676       28,676  
New York Life Insurance Company
    9,025,000       9,025,000       265,441       265,441  
New York Life Separate
Account #7
    500,000       500,000       14,705       14,705  
NORCAL Mutual Insurance Company
    250,000       250,000       7,352       7,352  
Omnova Solutions
    100,000       100,000       2,941       2,941  
OPEI Local 12 Defined Benefit
    100,000       100,000       2,941       2,941  
Oxford, Lord Abbett & Co. 
    2,500,000       2,500,000       73,529       73,529  
Parker-Hannifin Corporation
    238,000       238,000       7,000       7,000  
Parker Society/ Convertible
    325,000       325,000       9,558       9,558  
Physicians’ Reciprocal Insurers Account #7
    2,000,000       2,000,000       58,823       58,823  
Pioneer High Yield Fund
    2,520,000       2,520,000       74,117       74,117  
Port Authority of Allegheny County Retirement and Disability Allowance Plan for the Employees Represented by Local 85 of the Amalgamated Transit Union
    1,170,000       1,170,000       34,411       34,411  
Potlatch-First Trust Co. of St. Paul
    900,000       900,000       26,470       26,470  
Premera Blue Cross
    1,700,000       1,700,000       50,000       50,000  
Premera Health Plus
    100,000       100,000       2,941       2,941  
ProMutual
    477,000       477,000       14,029       14,029  

S-3


                                 
Principal Amount
of Notes
Beneficially Owned Principal Amount Common Shares Common Shares
Prior to the of Notes Owned Prior Offered
Name Offering Offered Hereby to the Offering(1) Hereby(2)





Putnam Asset Allocation Funds — Balanced Portfolio
    980,000       980,000       28,823       28,823  
Putnam Asset Allocation Funds — Conservative Portfolio
    586,000       586,000       17,235       17,235  
Putnam Convertible Income — Growth Trust
    2,853,000       2,853,000       83,911       83,911  
Putnam Convertible Opportunities and Income Trust
    322,000       322,000       9,470       9,470  
Putnam High Income Convertible and Bond Fund
    1,594,000       1,594,000       46,882       46,882  
Radian Group Inc. 
    2,200,000       2,200,000       64,705       64,705  
RBC Capital Services Inc.
    250,000       250,000       7,352       7,352  
RGA — Reinsurance Trust
    3,000,000       3,000,000       88,235       88,235  
Roofers Local 96 Annuity Fund
    250,000       250,000       7,352       7,352  
Salomon Smith Barney Inc.(6)
    25,410,000       25,410,000       747,352       747,352  
Sheet Metal Workers Local 10 Pension Fund
    500,000       500,000       14,705       14,705  
Southern Farm Bureau Life Insurance Company
    850,000       850,000       25,000       25,000  
SPT
    1,250,000       1,250,000       36,764       36,764  
Standard Insurance Company
    1,000,000       1,000,000       29,411       29,411  
Sylvan IMA Ltd.
    1,000,000       1,000,000       29,411       29,411  
Teachers Insurance and Annuity Association
    2,500,000       2,500,000       73,529       73,529  
The Cockrell Foundation
    100,000       100,000       2,941       2,941  
The Fondren Foundation
    100,000       100,000       2,941       2,941  
TQA Master Fund
    4,000,000       4,000,000       117,647       117,647  
TQA Master Plus Fund
    2,000,000       2,000,000       58,823       58,823  
Transamerica Life Insurance and Annuities Company
    10,000,000       10,000,000       294,117       294,117  
TVPSF Franklin Strategic Income Securities Fund
    100,000       100,000       2,941       2,941  
Unifi, Inc. Profit Sharing Plan and Trust
    215,000       215,000       6,323       6,323  
United Food and Commercial Workers Local 12262 and Employers Pension Fund
    1,500,000       1,500,000       44,117       44,117  
University of Rochester
    122,000       122,000       3,588       3,588  
University of South Florida
    425,000       425,000       12,500       12,500  
University of South Florida Foundation
    600,000       600,000       17,647       17,647  
Van Kampen Harbor Fund
    4,000,000       4,000,000       409,963 (7)     117,647  
Van Waters & Rogers, Inc. Retirement Plan (f.k.a. Univar Corporation)
    430,000       430,000       12,647       12,647  
Victory Convertible Securities Fund
    800,000       800,000       23,529       23,529  
Victory Invest Quality Bond Fund
    100,000       100,000       2,941       2,941  

S-4


                                   
Principal Amount
of Notes
Beneficially Owned Principal Amount Common Shares Common Shares
Prior to the of Notes Owned Prior Offered
Name Offering Offered Hereby to the Offering(1) Hereby(2)





Von Ernst Global Portfolio-Convertible Bond
    120,000       120,000       3,529       3,529  
Zurich HFR Master Hedge Fund
    150,000       150,000       4,411       4,411  
Any other holder of notes or future transferees from any such holder(8)
    30,808,000       30,808,000       906,182 (9)     906,182  
     
     
     
     
 
 
Total
  $ 325,000,000     $ 325,000,000       9,970,640       9,558,824  
     
     
     
     
 

(1)  Comprises the Equity Office common shares owned by each selling holder prior to the offering, including the number of whole Equity Office common shares for which the notes held by the selling holder may be exchanged at the initial exchange rate of $34.00 per share. Fractional shares will not be issued upon exchange of the notes; rather, cash will be paid instead of fractional shares, if any. The exchange rate and the number of Equity Office common shares issuable upon exchange of the notes may be adjusted under specified circumstances, which are described in greater detail under “Description of the Notes—Exchange of Notes” beginning on page 8 of the accompanying prospectus. Accordingly, the number of Equity Office common shares issuable upon exchange of the notes may increase or decrease from time to time.
 
(2)  Assumes the entire aggregate principal amount of notes held by the selling holder is exchanged into Equity Office common shares at the initial exchange rate of $34.00 per share and the offering of those shares by the selling holder under this prospectus supplement and the accompanying prospectus. Fractional shares will not be issued upon exchange of the notes; rather, cash will be paid instead of fractional shares, if any. The exchange rate and the number of Equity Office common shares issuable upon exchange of the notes may be adjusted under specified circumstances, which are described in greater detail under “Description of the Notes—Exchange of Notes” beginning on page 8 of the accompanying prospectus. Accordingly, the number of Equity Office common shares issuable upon exchange of the notes may increase or decrease from time to time. The selling holders may offer and sell under this prospectus supplement and the accompanying prospectus their notes, the Equity Office common shares for which their notes may be exchanged or both.
 
(3)  2,968,424 common shares of beneficial interest of Equity Office are owned directly by separate entities under management by AEW Capital Management, L.P., which entities do not include AEW Targeted Securities Fund II, L.P. AEW Targeted Securities Fund II, L.P. disclaims beneficial ownership of these securities.
 
(4)  J.P. Morgan Securities, Inc. and its affiliates have in the past provided Equity Office and its affiliates with investment banking and investment advisory services, including its advisory assignment and the delivery of a fairness opinion relating to the merger of Cornerstone Properties Inc., or Cornerstone, with and into Equity Office. In addition, Morgan Guaranty Trust Company of New York, an affiliate of J.P. Morgan Securities, Inc., served as sole lead arranger, bookrunner and co-syndication agent in arranging a new $1.0 billion revolving credit facility for EOP Partnership and served as joint lead arranger, joint bookrunner and syndication agent for a $1.0 billion term loan for EOP Partnership. In addition, in July 1998, prior to Cornerstone’s merger with Equity Office, William Wilson & Associates, or WWA, was merged with and into Cornerstone and J.P. Morgan Securities, Inc. rendered a fairness opinion in that transaction.
 
(5)  Lehman Brothers Inc. and its affiliates have in the past provided Equity Office and its affiliates with investment banking and investment advisory services. In November 2000, Lehman Brothers acted as co-manager in the underwriting of $400,000,000 7 3/8% notes due 2003 and $600,000,000 7 3/4% notes due 2007. In August 2000, Lehman Brothers acted as joint book-running manager in the underwriting of $360,000,000 of 8.10% notes due August 1, 2010 and provided first mortgage financing of $440,000,000 to a joint venture, of which an affiliate of Equity Office owns an interest, that owns 1301 Avenue of the Americas. In March 2000, Lehman Brothers acted as co-manager in the underwriting of $500,000,000 8.375% notes due March 15, 2006. In August 1999, Lehman Brothers acted as co-manager in the underwriting of $200,000,000 7 1/2% notes due April 19, 2029. In June 1998, Lehman Brothers acted as co-manager in the underwriting of $250,000,000 6.50% notes due June 15, 2004 and $225,000,000 7.25% notes due June 15, 2028. In February 1998, Lehman Brothers was the initial purchaser of 6,000,000 shares of 5.25% Preferred Income Equity Redeemable SharesSM, or PIERSSM, and acted as co-manager in the underwriting of $300,000,000 6.375% notes due 2003, $400,000,000 6.625% notes due 2005, $300,000,000 6.750% notes due 2008 and $250,000,000 7.250% notes due 2018.
 
(6)  Salomon Smith Barney Inc. and its affiliates have in the past provided Equity Office and its affiliates with investment banking and investment advisory services. Salomon Smith Barney was the initial purchaser of the notes and acted as co-manager in the underwriting of $360,000,000 of 8.10% notes due August 1, 2010 of EOP Partnership.
 
(7)  Van Kampen Real Estate Securities Fund, an affiliate of Van Kampen Harbor Fund, owns 292,316 of these common shares.
 
(8)  Information concerning other selling holders of notes will be set forth in additional prospectus supplements from time to time, as required. No holder may offer notes under the accompanying prospectus until the holder is included as a selling holder in a prospectus supplement to the accompanying prospectus, as provided in the registration rights agreement relating to the notes.
 
(9)  Assumes that any other holders of notes or any future transferee of notes does not beneficially own any Equity Office common shares other than Equity Office common shares issuable upon exchange of the notes at the initial exchange rate of $34.00 per share.

S-5



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