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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities and Exchange Act of 1934
Date of Report: June 30, 1998
(Date of earliest event reported)
Commission File Number 1-12486
ASSOCIATED ESTATES REALTY CORPORATION
(Exact name of registrant as specified in its charter)
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OHIO 34-1747603
(State or other Jurisdiction of (IRS Employer
Incorporation or organization) Identification
Number)
5025 Swetland Court, Richmond Heights, Ohio 44143-1467
(Address of Principal Executive Offices) (Zip Code)
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(216) 261-5000
(Registrant's telephone number, including area code)
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Item 2. Acquisition or Disposition of Assets
On June 30, 1998, Associated Estates Realty Corporation (the
"Company") acquired certain real estate assets consisting
principally of the multifamily properties (the "Acquired
Properties") further described below, from MIG Residential REIT,
Inc:
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Number of
Name of Property Location Suites
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20th and Campbell Apartments Phoenix, Arizona 204
Annen Woods Apartments Pikesville, Maryland 132
Desert Oasis Apartments Palm Desert, California 320
Fleetwood Apartments Houston, Texas 104
Hampton Point Apartments Silver Spring, Maryland 352
Morgan Place Apartments Atlanta, Georgia 186
Peachtree Apartments St. Louis, Missouri 156
Windsor Falls Apartments Raleigh, North Carolina 276
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1,730
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With respect to the Acquired Properties, the Company
purchased all of the above named sellers' right, title and
interest in the apartment complexes and land together with all
rights of way, easements, licenses, permits, fixtures,
furnishings, equipment, the right to manage, other intangible
assets, leases and tenancies, all guaranties, warranties and
other intangible rights pertaining to the Acquired Properties.
The purchase price of the Acquired Properties was
approximately $108.5 million, of which approximately $12.1
million was paid in cash with the balance paid through the
issuance of 5,139,387 unregistered common shares of the Company.
The terms of the above transaction, and other related
transactions which were also consummated on June 30, 1998 not
qualifying for reporting as an Item 2 event, are further
discussed in the Company's Form 8-K/A dated February 19, 1998
and filed June 25, 1998 and Proxy Statement dated May 30, 1998,
which are incorporated by reference herein.
Item 7: Financial Statements Pro Forma Financial Information and
Exhibits
The information required by paragraph (a) of Item 7 - the
Financial Statements of the Acquired Properties (MIG Residential
REIT, Inc.) and paragraph (b) of Item 7 - the Pro Forma Financial
Information, have been previously reported by the Company in its
2
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Proxy Statement dated May 30, 1998 and Form 8-K/A dated February 19,
1998 and filed June 25, 1998. In accordance with General
Instruction B.3 to Form 8-K, such information is not reported in
this Form 8-K.
Documents Incorporated by Reference
1. The Company's Proxy Statement dated May 30, 1998; and
2. The Company's Form 8-K/A dated February 19, 1998 and
filed June 25, 1998.
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Exhibits
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Filed
herewith or
incorporated
herein by
Number Title reference
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2.02 Purchase Agreement by and between MIG Exhibit 2.02
REIT/Morgan Place, Inc. and the Company to Form 8-K
dated as of January 28, 1998. filed March
31, 1998.
2.03 Purchase Agreement by and between MIG Exhibit 2.03
REIT/Annen Woods, Inc. and the Company to Form 8-K
dated as of January 28, 1998. filed March
31, 1998.
2.04 Purchase Agreement by and between MIG Exhibit 2.04
Peachtree Corporation and the Company to Form 8-K
dated as of January 28, 1998. filed March
31, 1998.
2.05 Purchase Agreement by and between MIG Exhibit 2.05
Fleetwood Ltd. and the Company dated as to Form 8-K
of January 28, 1998. filed March
31, 1998.
2.06 Purchase Agreement by and between MIG Exhibit 2.06
REIT Falls, L.L.C. and the Company dated to Form 8-K
as of January 28, 1998. filed March
31, 1998.
2.07 Purchase Agreement by and between MIG Exhibit 2.07
20th and Campbell Corporation and the to Form 8-K
Company dated as of January 28, 1998. filed March
31, 1998.
2.08 Purchase Agreement by and between Desert Exhibit 2.08
Oasis Corporation and the Company dated to Form 8-K
as of January 28, 1998. filed March
31, 1998.
2.09 Purchase Agreement by and between MIG Exhibit 2.09
Hampton Corporation and the Company to Form 8-K
dated as of January 28, 1998. filed March
31, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
Associated Estates Realty
Corporation
Date: July 13, 1998 /s/ Dennis W. Bikun
Dennis W. Bikun
Vice President, Chief Financial
Officer, Treasurer and
Chief Accounting Officer
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