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):
August 24, 2015
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY
(Exact name of registrant as specified in charter)
New Jersey | 000-25043 | 22-1697095 |
(State or other jurisdiction of incorporation) | (Commission File Number) |
(IRS Employer Identification No.) |
505 Main Street, Hackensack, New Jersey | 07601 |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (201) 488-6400
(Former name or former address, if changed 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 (see General Instruction A.2. below):
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 8 — Other Events
Item 8.01. Other Events.
On August 24, 2015, First Real Estate Investment Trust of New Jersey (“FREIT”) issued a press release announcing that FREIT has entered into an agreement to purchase a 124 unit garden apartment community in Maywood, New Jersey. The acquisition is subject to FREIT’s conclusion of its due diligence/feasibility study period. If FREIT is satisfied with the results of the due diligence review, the acquisition is expected to close in October 2015. A copy of the Press Release is furnished as Exhibit 1 to this Form 8-K.
Section 9 — Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits
(d) | Exhibits: |
Exhibit 1: Press Release dated August 24, 2015 entitled “FREIT Enters into an Agreement to Acquire a 124-Unit Garden Apartment Complex in Maywood, NJ.”
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
First Real Estate Investment Trust of New Jersey | |
By: /s/ Robert S. Hekemian | |
Name: Robert S. Hekemian | |
Title: Chairman and Chief Executive Officer |
Date: August 24, 2015
EXHIBIT INDEX
Exhibit 1: Press Release dated August 24, 2015 entitled “FREIT Enters into an Agreement to Acquire a 124-Unit Garden Apartment Complex in Maywood, NJ.”
Exhibit 1
PRESS RELEASE –FREIT PROPERTY ACQUISITION
FREIT ENTERS INTO AN AGREEMENT TO ACQUIRE A 124-UNIT GARDEN APARTMENT COMPLEX IN MAYWOOD, NJ.
HACKENSACK, NJ, AUGUST 24, 2015 – First Real Estate Investment Trust of New Jersey (“FREIT”) has entered into an agreement to purchase a 124-unit garden apartment community in Maywood, NJ. The acquisition is subject to FREIT’s conclusion of its due diligence / feasibility study period. If FREIT is satisfied with the results of the study period, the acquisition is expected to close in October 2015.
Robert S. Hekemian, FREIT’s Chairman and CEO, is pleased with the opportunity to acquire this property. FREIT already owns a garden apartment community in Maywood, and this acquisition, if completed, will strengthen FREIT’s marketing position in this area.
The statements in this report that relate to future earnings or performance are forward-looking. 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 report on Form 10-K and Form 10-Q.
First Real Estate Investment Trust of New Jersey is one of the oldest public equity REITs in the U.S. organized in 1961. It has approximately $336 million (historical cost basis) of assets. Its portfolio of residential and commercial 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
Visit us on the web: www.freitnj.com