0001178862-15-000007.txt : 20150305 0001178862-15-000007.hdr.sgml : 20150305 20150305130534 ACCESSION NUMBER: 0001178862-15-000007 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150303 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150305 DATE AS OF CHANGE: 20150305 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BERKSHIRE INCOME REALTY, INC. CENTRAL INDEX KEY: 0001178862 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 320024337 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31659 FILM NUMBER: 15676664 BUSINESS ADDRESS: STREET 1: ONE BEACON ST STREET 2: SUITE 1500 CITY: BOSTON STATE: MA ZIP: 02108 BUSINESS PHONE: 6175237722 MAIL ADDRESS: STREET 1: ONE BEACON ST STREET 2: SUITE 1500 CITY: BOSTON STATE: MA ZIP: 02108 FORMER COMPANY: FORMER CONFORMED NAME: BERKSHIRE INCOME REALTY INC DATE OF NAME CHANGE: 20020726 8-K 1 form8k-20150303.htm 8-K Form 8K-2015.03.03


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

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)
March 3, 2015
 
Berkshire Income Realty, Inc.
(Exact name of Registrant as specified in its charter)
 
Maryland
001-31659
32-0024337
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
 
One Beacon Street, Boston, Massachusetts
02108
(Address of principal executive offices)
(Zip Code)
 
 
 
 
Registrants telephone number, including area code
(617) 523-7722
 
 
 
 
                                                                                 N/A
(Former name or former address, if changes since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






ITEM 7.01 - REGULATION FD DISCLOSURE

On March 3, 2015, Berkshire Income Realty, Inc. (the "Registrant") issued a press release entitled "Berkshire Income Realty, Inc. Expands Boston Presence with Acquisition of Gatehouse 75." A copy of the press release is furnished with this current report as Exhibit 99.1.

The information in this report, including the exhibit, is furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.  This report will not be deemed a determination or an admission as to the materiality of any information in the report that is required to be disclosed solely by Regulation FD.

ITEM 9.01 - FINANCIAL STATEMENTS AND EXHIBITS

(d)
Exhibits.

Exhibit 99.1
Press Release dated March 3, 2015 - "Berkshire Income Realty, Inc. Expands Boston Presence with Acquisition of Gatehouse 75"







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.

 
 
 
Berkshire Income Realty, Inc.
 
 
 
 
 
Date:
March 5, 2015
 
By:
/s/ David E. Doherty
 
 
 
Name:
David E. Doherty
 
 
 
Title:
Principal Financial Officer



EX-99.1 2 ex991-20150303.htm EXHIBIT 99.1 EX99.1-2015.03.03


CONTACT:                        FOR IMMEDIATE RELEASE:
Christopher Ranjitkar                    March 3, 2015
Berkshire Group
617-646-2485
christopher.ranjitkar@berkshire-group.com
BERKSHIRE INCOME REALTY, INC. EXPANDS BOSTON PRESENCE
WITH ACQUISITION OF GATEHOUSE 75
Company Purchases Class-A Community in Charlestown
BOSTON, MA - MARCH 3, 2015 - Berkshire Income Realty, Inc. (NYSE MKT: “BIR-pa”, “BIRPRA”, “BIR-A”, “BIR.PR.A”) (“Berkshire” or the “Company”) today announced it has acquired Gatehouse 75, a 99-unit Class-A apartment community located in the Charlestown neighborhood of Boston, Massachusetts.
Specific financial terms of the transaction were not disclosed. The property was acquired from Metric Corporation. Berkshire Communities, the property management division of Berkshire Group, will manage the apartment community.
“Greater Boston continues to be a market of interest to us since it has one of the nation’s strongest, most-diversified economies, with continued expected employment growth in the healthcare, biotech, technology, education and financial services sectors,” said Chuck Leitner, President and Chairman, Berkshire Income Realty, Inc. “Gatehouse 75 provides us with exposure to this market, with its Charlestown location, close to several Boston neighborhoods, including the North End, Financial District, Government Center, Cambridge and Somerville. We believe this property’s access to public transit, and proximity to retail, restaurants and entertainment offer a compelling proposition to residents desiring a modern community in an urban live-work-play environment.”
Completed in 2014, Gatehouse 75 is situated near Boston’s North End and Financial District, and Cambridge’s Kendall Square. It is within walking distance of the MBTA’s Bunker Hill Orange Line station, and close to I-93 and Logan International Airport. The community is adjacent to a shopping plaza with national and regional retailers. Moreover, Charlestown offers residents renowned restaurants, bars and cafes, as well as cultural and historic attractions. Gatehouse 75’s common area amenities include a club room, fitness center and roof deck, as well as underground parking.
About Berkshire Income Realty, Inc.
Berkshire Income Realty, Inc. is a Real Estate Investment Trust ("REIT") whose objective is to acquire, own, operate, develop and rehabilitate multifamily apartment communities. The Company owns interests in fourteen multifamily apartment communities and two multifamily development projects, of which three are located in the Baltimore/Washington, D.C. metropolitan area; three are located in Dallas, Texas; two are located in Atlanta, Georgia; and one is located in each of Houston, Texas; Sherwood, Oregon; Tampa, Florida; Philadelphia, Pennsylvania; Walnut Creek, California; Denver, Colorado; Redmond, Washington; and Boston, Massachusetts. The Company also owns interests in two unconsolidated multifamily entities.
Forward Looking Statements
With the exception of the historical information contained in this release, the matters described herein may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements about apartment rental demand and fundamentals, involve a number of risks, uncertainties or other factors beyond the Company's control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to, changes in economic conditions generally and the real estate and bond markets specifically, especially as they may affect rental markets, legislative/regulatory changes (including changes to laws governing the taxation of REITs), possible sales of assets, the acquisition restrictions placed on the Company by an affiliated entity, Berkshire Multifamily Value Plus Fund III, LP, availability of capital, interest rates and interest rate spreads, changes in accounting principles generally accepted in the United States of America and policies and guidelines applicable to REITs, those set forth in Part I, Item 1A - Risk Factors of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and other risks and uncertainties as may be detailed from time to time in the Company's





public announcements and SEC filings. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update such information.

###