SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K/A
Amendment No. 1 to the Form 8-K Current Report
Filed on February 22 , 1994
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
ROCKEFELLER CENTER PROPERTIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-8971 13-3280472
(State or other (Commission File (IRS Employer
jurisdiction) Number) Identification No.)
1270 Avenue of the Americas, New York, N.Y. 10020
(Address of Principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(212) 698-1440
The purpose of this Amendment No. 1 is to amend the Cash Flow
Pro Forma Charts appearing on two unnumbered pages
between pages 56 and 58 of Item 7, Exhibit 28.10 as previously
reported on the Form 8-K Current Report filed on February 22,
1994.
Amendment No. 1
The undersigned registrant hereby amends the following
portion of its Current Report on form 8-K dated February 16,
1994 and filed on February 22, 1994 as follows:
1. The two unnumbered pages between pages 56 and
58 of Item 7, Exhibit 28.10 filed with the Company's Current
Report on Form 8-K dated February 16, 1994 is replaced by the
attached two unnumbered pages.
<TABLE>
<CAPTION>
12-13-1993 ROCKEFELLER CENTER PROPERTIES INC.
TOTAL FOR ALL
BUILDINGS
(IN $'000)
CASH FLOW PRO FORMA
---- ---- ---- ---- ---- ---- ---- ---- ---- ----
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
---- ---- ---- ---- ---- ---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INCOME:
OFFICE SPACE 127,108 152,465 162,492 168,804 183,610 188,766 197,567 205,371 206,736 208,682
RETAIL SPACE 25,930 30,772 31,468 31,621 32,227 32,996 35,209 36,589 38,208 38,506
STORAGE SPACE 5,064 3,525 3,561 3,573 3,636 3,818 4,124 4,376 4,458 4,506
MISC. SPACE 2,766 2,771 2,767 2,769 2,770 2,773 2,775 2,777 2,915 3,059
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
MINIMUM BASE RENTAL INC. 160,868 189,533 200,288 206,767 222,244 228,352 239,675 249,113 252,317 254,753
CPI RENTAL ESCALATION 462 516 611 806 957 1,241 1,497 1,875 2,514 3,154
OVERAGE 3,090 3,294 3,549 3,827 4,099 4,382 4,038 4,285 4,428 4,755
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
BASE RENTAL INCOME 164,421 193,343 204,448 211,401 227,300 233,975 245,210 255,273 259,259 262,661
PROPERTY TAX INCOME 15,303 7,177 8,883 11,131 12,976 14,538 15,494 14,768 17,165 19,670
OPERATING EXPENSE INCOME 35,377 22,492 26,265 33,029 44,470 48,523 51,694 52,379 58,011 63,842
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
GROSS RENTAL INCOME 215,100 223,012 239,596 255,561 284,746 297,037 312,398 322,419 334,435 346,173
LESS: VACANCY 8,354 2,992 3,179 3,130 3,433 6,390 4,934 5,267 4,262 4,501
LESS: RENT CONCESSIONS 23,252 58,732 3,422 1,131 1,048 2,407 1,881 4,152 1,027 703
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
EFFECTIVE RENTAL INCOME 183,495 161,288 232,995 251,300 280,265 288,239 305,582 313,001 329,146 340,969
TENANT SERVICE 9,733 10,122 10,628 11,160 11,718 12,304 12,919 13,565 14,243 14,955
TENANT ELECTRIC 10,717 11,146 11,703 12,288 12,903 13,548 14,225 14,936 15,683 16,467
DISPLAY WINDOWS 65 68 71 75 78 82 86 91 95 100
OTHER MISCELLANEOUS INCO 656 156 164 172 181 190 199 209 220 230
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
EFFECTIVE GROSS INCOME 204,666 182,780 255,561 274,994 305,144 314,362 333,012 341,801 359,387 372,722
======== ======== ======== ======== ======== ======== ======== ======== ======== ========
OPERATING EXPENSE:
OPERATING & MAINTENANCE 61,243 63,693 66,877 70,221 73,732 77,419 81,290 85,354 89,622 94,103
UTILITIES 17,116 17,801 18,691 19,625 20,606 21,637 22,719 23,855 25,047 26,300
INSURANCE 1,514 1,575 1,653 1,736 1,823 1,914 2,010 2,110 2,216 2,326
MANAGEMENT FEE 2,635 2,740 2,877 3,021 3,172 3,331 3,498 3,672 3,856 4,049
GENERAL & ADMINISTRATIVE 1,364 1,419 1,490 1,564 1,642 1,724 1,811 1,901 1,996 2,096
REAL ESTATE TAXES 43,455 45,934 48,542 51,285 53,745 56,432 59,254 62,217 65,328 68,594
GROUND LEASE 871 882 889 894 899 925 971 979 3,536 3,544
TENANT SERVICES 6,170 6,417 6,738 7,075 7,428 7,800 8,190 8,599 9,029 9,481
TENANT ELECTRIC 10,110 10,514 11,040 11,592 12,172 12,780 13,419 14,090 14,795 15,535
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
TOTAL OPERATING EXPENSE 144,478 150,975 158,797 167,014 175,220 183,962 193,161 202,777 215,425 226,027
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
NET OPERATING INCOME 60,188 31,805 96,764 107,980 129,923 130,400 139,851 139,024 143,962 146,695
======== ======== ======== ======== ======== ======== ======== ======== ======== ========
OTHER EXPENSE:
TENANT WORK 81,769 8,664 1,039 1,660 1,574 10,924 5,230 5,869 3,381 3,156
LEASING COMMISSIONS 24,893 3,410 1,283 623 826 4,510 3,196 4,741 1,803 1,358
CAPITALIZED EXPENSE 18,797 10,115 14,879 10,992 14,167 20,825 11,775 12,364 12,982 13,631
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
NOI BEFORE DEBT SERVICE -65,271 9,616 79,563 94,705 113,356 94,141 119,650 116,051 125,796 128,550
======== ======== ======== ======== ======== ======== ======== ======== ======== ========
</TABLE>
<TABLE>
<CAPTION>
12-13-1993 ROCKEFELLER CENTER PROPERTIES INC.
TOTAL FOR ALL
BUILDINGS
(IN $'000)
CASH FLOW PRO FORMA
---- ---- ---- ---- ---- ---- ---- ---- ---- ----
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
---- ---- ---- ---- ---- ---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INCOME:
OFFICE SPACE 220,511 243,397 249,237 253,219 260,855 282,335 321,584 328,572 332,205 335,950
RETAIL SPACE 39,748 42,485 43,704 48,003 51,352 56,544 64,496 67,567 69,602 73,090
STORAGE SPACE 4,802 5,493 5,624 5,932 6,082 6,457 7,330 7,524 7,636 7,970
MISC. SPACE 3,211 3,364 3,531 3,706 3,890 4,087 4,292 4,505 4,728 4,963
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
MINIMUM BASE RENTAL INC. 268,272 294,739 302,097 310,861 322,179 349,423 397,701 408,168 414,171 421,974
CPI RENTAL ESCALATION 3,182 3,260 4,551 6,307 8,052 8,842 9,718 11,227 13,360 15,673
OVERAGE 4,982 4,924 5,238 5,584 5,968 6,345 6,522 6,829 7,256 7,755
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
BASE RENTAL INCOME 276,436 302,924 311,885 322,752 336,198 364,610 413,940 426,224 434,787 445,402
PROPERTY TAX INCOME 19,896 17,420 19,828 22,530 25,018 23,795 19,030 21,321 25,083 28,796
OPERATING EXPENSE INCOME 65,513 62,801 68,839 75,931 82,423 81,842 74,647 81,319 90,434 99,461
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
GROSS RENTAL INCOME 361,846 383,145 400,551 421,213 443,640 470,248 507,618 528,863 550,304 573,659
LESS: VACANCY 13,764 6,350 5,074 6,362 6,670 18,082 7,926 8,057 7,419 7,788
LESS: RENT CONCESSIONS 12,208 4,727 988 2,641 2,219 19,270 12,008 2,472 1,916 1,738
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
EFFECTIVE RENTAL INCOME 335,874 372,068 394,490 412,210 434,751 432,896 487,684 518,334 540,970 564,133
TENANT SERVICE 15,703 16,488 17,313 18,178 19,087 20,041 21,044 22,096 23,201 24,361
TENANT ELECTRIC 17,291 18,155 19,063 20,016 21,017 22,068 23,171 24,330 25,546 26,823
DISPLAY WINDOWS 105 110 116 121 127 134 141 148 155 163
OTHER MISCELLANEOUS INCO 242 254 267 280 294 309 324 341 358 375
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
EFFECTIVE GROSS INCOME 369,215 407,075 431,248 450,806 475,276 475,448 532,364 565,248 590,229 615,855
======== ======== ======== ======== ======== ======== ======== ======== ======== ========
OPERATING EXPENSE:
OPERATING & MAINTENANCE 98,808 103,749 108,936 114,383 120,102 126,107 132,413 139,033 145,985 153,284
UTILITIES 27,615 28,995 30,445 31,967 33,566 35,244 37,006 38,857 40,799 42,839
INSURANCE 2,443 2,565 2,693 2,828 2,969 3,118 3,273 3,437 3,609 3,789
MANAGEMENT FEE 4,251 4,464 4,687 4,921 5,167 5,426 5,697 5,982 6,281 6,595
GENERAL & ADMINISTRATIVE 2,201 2,311 2,426 2,548 2,675 2,809 2,949 3,097 3,251 3,414
REAL ESTATE TAXES 72,024 75,625 79,406 83,376 87,545 91,922 96,519 101,345 106,412 111,732
GROUND LEASE 3,553 3,562 3,571 3,580 3,590 3,532 3,628 3,636 3,647 3,659
TENANT SERVICES 9,955 10,452 10,975 11,524 12,100 12,705 13,340 14,007 14,707 15,443
TENANT ELECTRIC 16,311 17,127 17,983 18,882 19,826 20,818 21,859 22,952 24,099 25,304
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
TOTAL OPERATING EXPENSE 237,160 248,849 261,123 274,009 287,540 301,681 316,683 332,344 348,791 366,060
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
NET OPERATING INCOME 132,054 158,226 170,125 176,797 187,736 173,767 215,680 232,903 241,437 249,795
======== ======== ======== ======== ======== ======== ======== ======== ======== ========
OTHER EXPENSE:
TENANT WORK 38,692 8,945 3,412 5,424 6,624 39,401 9,826 5,247 5,690 5,945
LEASING COMMISSIONS 21,789 5,319 1,603 3,740 4,158 30,180 5,883 5,327 3,818 2,900
CAPITALIZED EXPENSE 14,313 15,028 15,780 16,569 17,397 18,267 19,180 20,139 21,146 22,204
-------- -------- -------- -------- -------- -------- -------- -------- -------- --------
NOI BEFORE DEBT SERVICE 57,261 128,934 149,331 151,064 159,557 85,920 180,792 202,190 210,783 218,746
======== ======== ======== ======== ======== ======== ======== ======== ======== ========
</TABLE>
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this
report to be signed by the undersigned thereunto duly
authorized.
ROCKEFELLER CENTER PROPERTIES, INC.
(Registrant)
By /s/RICHARD M. SCARLATA
Name: Richard M. Scarlata
Title: Senior Vice President
Finance & Administration
Dated: March 23, 1994
