<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT 2
to
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) February 17, 2000
CarrAmerica Realty Corporation
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Maryland 1-11706 52-1796339
- --------------------------- ------------ ----------------------
State or Other Jurisdiction (Commission (IRS Employer
of Incorporation File Number) Identification Number)
1850 K Street, NW, Washington, DC 20006
- --------------------------------- ----------
State or Other Jurisdiction (Zip Code)
The Registrant's telephone number, including area code: (202) 729-1000
Exhibit Index is on page 4
<PAGE>
FORM 8-K/A
ITEM 5 Other Events
Attached hereto as Exhibit 99.1 is a revised page 19 of the previously
filed page 19 of the Supplemental Information included in the Company's press
release dated February 4, 2000. This reflects corrections to certain information
included on this page. Additionally attached hereto as Exhibit 99.2 is a revised
page 6 of the previously filed page 6 of the Supplemental Information included
in the Company's press release dated February 4, 2000. This revised page
reflects corrections to the basic and diluted income per common share figures
which were incorrectly stated in the previous filing.
ITEM 7 Financial Statements and Exhibits
(c) Exhibits
Exhibit
Number
-------
99.1 Page 19 of "Supplemental Operating and Financial Data".
99.2 Page 6 of "Supplemental Operating and Financial Data".
2
<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 thereunto duly authorized.
Date: February 23, 2000
CARRAMERICA REALTY CORPORATION
By: /s/ Stephen E. Riffee
---------------------------------------
Stephen E. Riffee
Senior Vice President, Controller and Treasurer
(Principal Accounting Officer)
3
<PAGE>
Exhibit 99.1
CARRAMERICA REALTY CORPORATION AND SUBSIDIARIES
1999 Development Activity By Market
- --------------------------------------------------------------------------------
($ In Thousands)
<TABLE>
<CAPTION>
Estimated
Estimated Estimated Remaining
Property Under Construction @ Construction Stabilization In Place Costs to
December 31, 1999: Square Feet Start Date Completion Date Date Dev Costs Complete
- ------------------------------------------ ----------- ---------- --------------- ------------- --------- ----------
San Francisco Bay Area
<S> <C> <C> <C> <C> <C> <C>
Clarify Corporate Center A 64,512 1Q98 1Q99 1Q00 $13,897 $ (1,312)
Valley Technology Center 6 (N) 55,295 4Q99 3Q00 3Q00 5,812 5,603
Valley Technology Center 7 (S) 55,295 4Q99 3Q00 3Q00 5,812 5,603
----------- --------- ----------
San Francisco Bay Area 175,102 25,521 9,894
Subtotal
Seattle
Canyon Park 4 65,035 2Q98 1Q99 1Q00 6,742 1,913
----------- --------- ----------
Seattle Subtotal 65,035 6,742 1,913
San Diego
La Jolla Spectrum Technology
Park 76,894 3Q99 2Q00 1Q01 9,310 8,619
----------- --------- ----------
San Diego Subtotal 76,894 9,310 8,619
Orange County/Los Angeles
Art Institute 55,200 4Q99 3Q00 3Q00 4,500 4,643
Pacific Corporate Plaza 1 33,893 3Q98 3Q99 3Q00 4,614 454
Pacific Corporate Plaza 2 49,603 3Q98 3Q99 1Q00 5,639 1,558
----------- --------- ----------
Orange County/Los Angeles 138,696 14,753 6,655
Subtotal
Portland, Oregon
Sunset Corporate Park A 43,717 2Q98 1Q99 1Q00 3,000 2,003
Sunset Corporate Park B 43,717 2Q98 1Q99 1Q00 3,724 1,300
Sunset Corporate Park C 43,717 2Q98 1Q99 1Q00 3,620 1,399
Rock Creek Corporate Center 1 65,436 3Q98 3Q99 3Q00 7,175 1,317
Rock Creek Corporate Center 2 65,436 3Q98 3Q99 3Q00 5,955 2,624
Rock Creek Corporate Center 3 11,011 3Q98 3Q99 3Q00 1,030 399
----------- --------- ----------
Portland, Oregon Subtotal 273,034 24,504 9,042
Denver
Dry Creek Corporate Center
Building 3 94,291 4Q99 3Q00 2Q01 3,984 7,727
Panorama Corporate Center X 50,380 3Q99 1Q00 1Q01 2,198 4,275
----------- --------- ----------
Denver Subtotal 144,671 6,182 12,002
Salt Lake City
Wasatch 17 72,088 1Q98 1Q99 1Q00 8,678 267
Sorenson X 41,551 2Q98 1Q99 1Q00 4,644 362
----------- --------- ----------
Salt Lake City Subtotal 113,639 13,322 629
Austin
Riata Building 3 62,209 1Q98 2Q99 2Q00 7,435 1,225
----------- --------- ----------
Austin Subtotal 62,209 7,435 1,225
Dallas
Commons 2 223,470 4Q99 4Q00 4Q00 6,950 36,847
----------- --------- ----------
Dallas Subtotal 223,470 6,950 36,847
Chicago
Four Parkway North 171,157 2Q98 2Q99 1Q00 19,955 7,483
Ten Parkway North 99,509 4Q98 1Q00 1Q01 14,324 1,635
----------- --------- ----------
Chicago Subtotal 270,666 34,279 9,118
Total/Weighted Average 1,543,416 $148,998 $95,944
Less: Placed in service (281,222) (33,002) (11,866)
----------- --------- ---------
Total/Weighted Average 1,262,194 $115,996 $84,078
=========== ========= =========
<CAPTION>
Total Estimated % Currently
Property Under Construction @ Projected Stabilized Leased or
December 31, 1999: Investment Return Committed
- ------------------------------------------ ---------- ---------- -----------
<S> <C> <C> <C>
San Francisco Bay Area
Clarify Corporate Center A $12,585 10.5% 100.0%
Valley Technology Center 6 (N) 11,415 12.7% 100.0
Valley Technology Center 7 (S) 11,415 12.7% 100.0
---------- ----------- ------------
San Francisco Bay Area 35,415 11.9 100.0
Subtotal
Seattle
Canyon Park 4 8,655 10.5 0.0
---------- ----------- ------------
Seattle Subtotal 8,655 10.5 0.0
San Diego
La Jolla Spectrum Technology
Park 17,929 13.2 0.0
---------- ----------- ------------
San Diego Subtotal 17,929 13.2 0.0
Orange County/Los Angeles
Art Institute 9,143 15.3 100.0
Pacific Corporate Plaza 1 5,068 11.0 76.4
Pacific Corporate Plaza 2 7,197 11.6 92.7
---------- ----------- ------------
Orange County/Los Angeles
Subtotal 21,408 13.0 91.6
Portland, Oregon
Sunset Corporate Park A 5,003 9.4 24.8
Sunset Corporate Park B 5,024 9.4 0.0
Sunset Corporate Park C 5,019 9.4 0.0
Rock Creek Corporate Center 1 8,492 11.2 31.4
Rock Creek Corporate Center 2 8,579 11.1 0.0
Rock Creek Corporate Center 3 1,429 11.2 0.0
---------- ----------- ------------
Portland, Oregon Subtotal 33,546 10.4 11.5
Denver
Dry Creek Corporate Center
Building 3 11,711 11.0% 0.0
Panorama Corporate Center X 6,473 11.0 0.0
---------- ----------- ------------
Denver Subtotal 18,184 11.0 0.0
Salt Lake City
Wasatch 17 8,945 10.8 100.0
Sorenson X 5,006 9.5 92.6
---------- ----------- ------------
Salt Lake City Subtotal 13,951 10.3 97.3
Austin
Riata Building 3 8,660 11.1 82.2
---------- ----------- ------------
Austin Subtotal 8,660 11.1 82.2
Dallas
Commons 2 43,797 10.3 100.0
---------- ----------- ------------
Dallas Subtotal 43,797 10.3 100.0
Chicago
Four Parkway North 27,438 11.0 93.8
Ten Parkway North 15,959 10.6 72.7
---------- ----------- ------------
Chicago Subtotal 43,397 10.9 86.0
Total/Weighted Average $244,942 11.2% 61.7%
Less: Placed in service (44,868)
----------
Total/Weighted Average $200,074 11.2% 53.1%
========== =========== ============
</TABLE>
<PAGE>
Exhibit 99.2
CARRAMERICA REALTY CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
- --------------------------------------------------------------------------------
(In thousands, except per share amounts)
<TABLE>
<CAPTION>
Three Months Ended Year Ended
December 31, December 31,
------------------------ ------------------------
1999 1998 1999 1998
---- ---- ---- ----
<S> <C> <C> <C> <C>
Revenues:
Rental income (1):
Minimum base rent $110,506 $103,303 $422,440 $379,502
Recoveries from tenants 15,925 11,556 58,426 46,947
Parking and other tenant charges 3,411 4,647 17,983 14,007
----------- ---------- ---------- ----------
Total rental revenue 129,842 119,506 498,849 440,456
----------- ---------- ---------- ----------
Real estate service income 4,005 5,182 17,054 16,167
----------- ---------- ---------- ----------
Total operating revenues 133,847 124,688 515,903 456,623
----------- ---------- ---------- ----------
Operating expenses:
Property expenses:
Operating expenses 31,701 31,291 122,676 109,514
Real estate taxes 10,779 11,316 44,529 40,174
Interest expense 24,465 20,259 89,057 71,419
General and administrative 10,008 9,515 38,894 32,356
Depreciation and amortization 31,433 28,499 119,700 100,811
----------- ---------- ---------- ----------
Total operating expenses 108,386 100,880 414,856 354,274
----------- ---------- ---------- ----------
Real estate operating income 25,461 23,808 101,047 102,349
----------- ---------- ---------- ----------
Other operating income (loss):
Interest income 1,075 1,201 3,936 3,990
Equity in earnings of unconsolidated partnerships 1,376 1,529 5,167 5,282
Gain (loss) on settlement of treasury locks -- (13,729) 4,489 (13,729)
----------- ---------- ---------- ----------
Total other operating income (loss) 2,451 (10,999) 13,592 (4,457)
----------- ---------- ---------- ----------
Income from continuing operations before gain on sale
of assets, income taxes, and minority interest 27,912 12,809 114,639 97,892
Income taxes (783) -- (783) --
Minority interest (2,995) (2,505) (17,599) (16,072)
----------- ---------- ---------- ----------
Income from continuing operations before gain or 24,134 10,304 96,257 81,820
sale of assets
Discontinued operations--Income (loss) from
operations of discontinued Executive Suites
subsidiary (less applicable income tax expense
(benefit) of $944; 1,324; (816); and 1,898,
respectively) (1,891) 67 (7,862) 6,518
----------- ---------- ---------- ----------
Net income before gain on sale of assets: 22,243 10,371 88,395 88,338
Gain on sale of assets, net of income taxes 5,006 5,130 54,822 38,160
----------- ---------- ---------- ----------
Net income $ 27,249 $ 15,501 $143,217 $126,498
=========== ========== ========== ==========
Basic net income per common share:
Net income (loss) from continuing operations 0.23 0.02 0.90 0.67
Discontinued operations (0.03) 0.00 (0.12) 0.10
Gain on sale of assets, net 0.07 0.07 0.81 0.56
----------- ---------- ---------- ----------
Net income 0.27 0.09 1.59 1.33
=========== ========== ========== ==========
Diluted net income per share:
Net income (loss) from continuing operations 0.23 0.02 0.90 0.67
Discontinued operations (0.03) 0.00 (0.12) 0.09
Gain on sale of assets, net 0.07 0.07 0.81 0.56
----------- ---------- ---------- ----------
Net income 0.27 0.09 1.59 1.32
=========== ========== ========== ==========
</TABLE>
NOTES:
(1) Rental income includes $4,969 and $3,165 of accrued straight-line rents for
the three month periods ended December 31, 1999 and 1998, respectively, and
$14,331 and $13,919 of accrued straight-line rents for the years ended
December 31, 1999 and 1998, respectively.
