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FORM 8-K/A
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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AMENDMENT TO APPLICATION OR REPORT
Filed Pursuant to Section 12, 13 or 15(d) of
THE SECURITIES EXCHANGE ACT OF 1934
UNITED DOMINION REALTY TRUST, INC.
(Exact name of registrant as specified in its charter)
AMENDMENT NO. 1
The undersigned registrant hereby amends its Current Report on Form 8-K
dated August 31, 1994 which was filed with the Securities and Exchange
Commission on August 31, 1994. Note (D) of the Notes to the Pro Forma Statements
of Operations was updated to provide documentation for the net adjustment to
allow for a full year of actual rental income and related opertaion expenses for
the 1993 acquisitions reported on Form 8-K during 1993 as shown in the Pro Forma
Statement of Operation for the Year Ended December 31, 1993.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a) Financial Statements of Real Estate Properties Acquired
(b) Pro Forma Financial Information
(c) Exhibits
(23) Consents of experts
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Amendment to be signed on its behalf by the
undersigned, thereunto duly authorized.
UNITED DOMINION REALTY TRUST, INC.
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(Registrant)
/s/ JERRY A. DAVIS
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Jerry A. Davis
Vice President
Corporate Controller
Date: August 31, 1994
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<PAGE>
(C) Represents actual rental income and related operating expenses of five
apartment acquisitions, as previously reported on Forms 8-K dated April
15, 1994 and May 17, 1994.
(D) Represents the net adjustments required to allow for a full year of
actual rental income and related expenses for the Trust's acquisitions
reported on Form 8-K during 1993. Acquisitions previously reported on
Form 8-K were for the nine month period ended September 30, 1993. This
adjustment reflects the income for these properties between October 1,
1993 and December 31, 1993 which were not included in the Trust's
historical statements of operations. The amounts were derived from
operating statements of the respective properties. A reconciliation the
net income amounts is outlined as follows:
<TABLE>
<CAPTION>
Acquisitions
Net Income Previously Reported
8-K/A Filing to Amounts Full Year on Form 8-K Dated
8-K Filed Update 8-K Reported Adjustment December 31, 1993
<S> <C> <C> <C> <C>
May 20, 1994 July 29, 1994 $ 543 $143 $ 686
September 28, 1994 December 2, 1994 1,155 (39) 1,116
December 22, 1994 February 18, 1994 1,539 424 1,963
December 31, 1993 March 3, 1994 490 162 652
$ 3,727 $690 $4,417
</TABLE>
(E) Reflects the net decrease in property management fees for the Portfolio
Acquisition and the Trust's 1994 and 1993 acquisitions. The Trust
internally manages its apartment portfolio at a cost of approximately
3% of rental income.
(F) Reflects the net decrease in insurance expense to reflect that the
Trust insures its apartments for approximately $107 per unit less than
the historical insurance expense of the Portfolio Acquisition.
(G) Represents the net adjustments to depreciation expense as outlined
below. Depreciation is computed on a straight-line basis over the
estimated useful lives of the related assets. Buildings were
depreciated using a 35 year life and other improvements using a 15 year
useful life.
<TABLE>
<CAPTION>
Six Months Ended Twelve Months Ended
June 30, 1994 December 31, 1993
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<S> <C> <C>
Increase related to the Portfolio
Acquisition $2,197,000 $4,393,000
Increase related to the acquisitions
previously reported on Form 8-K
dated April 15, 1994 and Form
8-K dated May 17, 1994 312,000 1,943,000
Increase related to the acquisitions
Previously reported on Form 8-K
dated December 31, 1993 1,510,000
Total $2,509,000 $7,846,000
</TABLE>
(H) Reflects the reduction in interest income associated with the use of
short-term investments to acquire the properties at assumed interest
rates in effect at the time of each respective acquisition. For the
year ended December 31, 1993 such acquisitions consist of the Trust's
1993 acquisitions reported on Form 8-K dated December 31, 1993. For the
six months ended June 30, 1994, such acquisitions consist of the
Portfolio Acquisition.
