-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MPh6qV/hqUdTXL0XzOJGBFn4o5xgC8P+xDpOEptLsdhlaagxhy98IVyaZcP1b8F+ SQMTzY49/wZiFfgESmAeMA== 0000914317-02-001277.txt : 20021105 0000914317-02-001277.hdr.sgml : 20021105 20021105140647 ACCESSION NUMBER: 0000914317-02-001277 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021101 ITEM INFORMATION: Other events FILED AS OF DATE: 20021105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY CENTRAL INDEX KEY: 0000036840 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 221697095 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25043 FILM NUMBER: 02809589 BUSINESS ADDRESS: STREET 1: 505 MAIN ST STREET 2: P O BOX 667 CITY: HACKENSACK STATE: NJ ZIP: 07602 BUSINESS PHONE: 2014886400 MAIL ADDRESS: STREET 1: P O BOX 667 STREET 2: 505 MAIN STREET CITY: HACKENSACK STATE: NJ ZIP: 07602 8-K 1 form8k-47727.txt 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: November 1, 2002 FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY ---------------------------------------------------- (Exact name of registrant as specified in its charter) New Jersey 22-1697095 - ---------------------------------- ---------------------- (State or other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) 505 Main Street, P.O. Box 667, Hackensack, New Jersey 07602 ----------------------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code 201-488-6400 ------------ Item 5. Other Events On November 1, 2002, Wayne PSC, LLC, in which First Real Estate Investment Trust of New Jersey ("FREIT") is the Managing Member, and has a 40% interest, acquired the Preakness Shopping Center ("Preakness"), in Wayne, NJ. Preakness, situated on 40 acres, is a 323,000 +/- SF Community Center on that is anchored by Macy's and Stop & Shop, (under construction). Its 40+other tenants include well known regional and national retail merchants such as Dress Barn, Starbucks, 9 West, Annie Sez, Radio Shack, Bath & Body Works, Mandee's, and Good Year Tire. The center also includes branches of the First Union and Commerce Bank, and a multiplex Clearview Movie Theater. The total acquisition costs of $35.5 million were financed in part by a $26.5 million, ten year first mortgage loan, and by $9 million of equity contributions provided pro rata by the Members of Wayne PSC, LLC. A copy of the press release is attached as Exhibit 1, and incorporated herein by reference. Disclosure Concerning Forward-Looking Statements - ------------------------------------------------ Certain Statements in this Form 8-K may contain information that is, or anticipate certain events that are, forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Registrant cautions readers that forward-looking statements, including, without limitation, those relating to the Registrant's liquidity and capital resources, are subject to certain risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors, including without limitation, the Registrant's future financial performance; the availability of capital; general market conditions; national and local economic conditions; particularly long-term interest rates; the terms of federal, state and local governmental regulations that affect the Registrant; and the competitive environment in which the Registrant operates, including the availability of retail space and residential apartment units in the areas where the Registrant's properties are located. In addition, the Registrant's continued qualification as a real estate investment trust involves the application of highly technical and complex rules of the Internal Revenue Code. The forward-looking statements are made as of the date of this Form 8-K and the Registrant assumes no obligation to update the forward-looking statements or to update the reasons actual results could differ from those projected in such forward-looking statements. 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 hereto duly authorized. FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY By: /s/ Robert S. Hekemian --------------------------- Robert S. Hekemian Chairman of the Board DATED: November 5, 2002 EX-99 3 exhibit99.txt Exhibit 99 FIRST REAL ESTATE INVESTMENT TRUST of New Jersey PREAKNESS SHOPPING CENTER ACQUIRED HACKENSACK, NJ, NOVEMBER 1, 2002 - First Real Estate Investment Trust of NJ ("FREIT") is pleased to announce that Wayne PSC, LLC, in which FREIT is the Managing Member, and has a 40% interest, has acquired the Preakness Shopping Center ("Preakness") in Wayne, NJ. Preakness, situated on 40 acres, is a 323,000 +/- SF Community Center that is anchored by Macy's and Stop & Shop, (under construction). Its 40+other tenants include well known regional and national retail merchants such as Dress Barn, Starbucks, 9 West, Annie Sez, Radio Shack, Bath & Body Works, Mandee's, and Good Year Tire. The center also includes branches of the First Union Bank, Commerce Bank, and Clearview Theater, a multiplex cinema. The total acquisition costs of $35.5 million were financed in part by a $26.5 million, ten year first mortgage loan, and by $9 million of equity contributions provided pro rata by the Members of Wayne PSC, LLC. The Board of Trustees is enthused about this important acquisition and feels it will enhance shareholder value. - -------------------------------------------------------------------------------- The statements in this report that relate to future earnings or performance are forward-looking and as such may involve known and unknown risk, uncertainties, and other factors. Actual results might differ materially and be adversely affected by such factors as longer than anticipated lease-up periods or the inability of tenants to pay increased rents. Additional information about these factors is contained in the Trust's filings with the SEC including the Trust's most recent filed reports on Form 10-K, Form 10-Q, and Form 8-K. - -------------------------------------------------------------------------------- First Real Estate Investment Trust is a publicly traded (over-the-counter - symbol FREVS) REIT organized in 1961. It has approximately $96 million (historical cost basis) of assets. Its portfolio of residential and retail properties extends from Eastern L.I. to Maryland, with the largest concentration in Northern New Jersey For additional information contact Shareholder Relations at (201) 488-6400 -----END PRIVACY-ENHANCED MESSAGE-----