-----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, VBixAwOOxDZFQIwLdRdltNRxoyaJsb5gaHPpOiBz7XrLdj03lIEnjUhg1Mdn2YdI 0MJRgR0OQ15A+b/L3Q4QXA== 0001029869-99-000438.txt : 19990416 0001029869-99-000438.hdr.sgml : 19990416 ACCESSION NUMBER: 0001029869-99-000438 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990413 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BERKSHIRE REALTY CO INC /DE CENTRAL INDEX KEY: 0000869446 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 043086485 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-10660 FILM NUMBER: 99594814 BUSINESS ADDRESS: STREET 1: 470 ATLANTIC AVE CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 8888670100 MAIL ADDRESS: STREET 1: 470 ATLANTIC AVE CITY: BOSTON STATE: MA ZIP: 02210 8-K 1 BERKSHIRE REALTY COMPANY FORM 8-K 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: April 13, 1999 Commission File No. 1-10660 (Date of earliest event reported) BERKSHIRE REALTY COMPANY, INC. ------------------------------ (Exact name of registrant as specified in its Charter) Delaware 04-3086485 -------- ---------- (State or other jurisdiction of (IRS Employer Identification No.) incorporation or organization) One Beacon Street, Suite 1550 Boston, Massachusetts 02108 - --------------------------------- ----- (Address of principal executive offices) (Zip Code) (888) 867-0100 -------------- (Registrant's telephone number, including area code) ITEM 5. OTHER EVENTS On April 14, 1999, Berkshire Realty Company, Inc. (the "Company") issued a press release announcing that it has entered into a definitive merger agreement with a partnership formed by the Company's Chairman of the Board and affiliates of Blackstone Real Estate Advisors and Whitehall Street Real Estate Limited Partnership XI, an affiliate of Goldman, Sachs & Co. A copy of the press release has been filed with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference. ITEM 7. EXHIBITS Exhibit Numbers Description - ------- ----------- 2.1(1) Agreement and Plan of Merger, dated as of April 13, 1999, by and among Berkshire Realty Holdings, L.P., BRI Acquisition, LLC and the Company. 99.1 Press release dated April 14, 1999. - -------------------------- (1) Incorporated herein by reference to Exhibit 9 to Amendment No. 2 to Schedule 13D, dated April 13, 1999, filed with the Securities and Exchange Commission on April 15, 1999 by Whitehall Street Real Estate Limited Partnership XI, WXI/BRH Gen-Par, L.L.C., WH Advisors, L.L.C. XI, Goldman, Sachs & Co. and The Goldman Sachs Group, L.P. in respect of shares of common stock, $0.01 par value per share, of Berkshire Realty Company, Inc. (File No. 1-10660). 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 hereunto duly authorized. Dated: April 15, 1999 BERKSHIRE REALTY COMPANY, INC. /s/ Marianne Pritchard ------------------------------------ Marianne Pritchard Executive Vice President and Chief Financial Officer of Berkshire Realty Company, Inc. INDEX TO EXHIBITS Exhibit Numbers Description - ------- ----------- 2.1(1) Agreement and Plan of Merger, dated as of April 13, 1999, by and among Berkshire Realty Holdings, L.P., BRI Acquisition, LLC and the Company. 99.1 Press release dated April 14, 1999. - -------------------------- (1) Incorporated herein by reference to Exhibit 9 to Amendment No. 2 to Schedule 13D, dated April 13, 1999, filed with the Securities and Exchange Commission on April 15, 1999 by Whitehall Street Real Estate Limited Partnership XI, WXI/BRH Gen-Par, L.L.C., WH Advisors, L.L.C. XI, Goldman, Sachs & Co. and The Goldman Sachs Group, L.P. in respect of shares of common stock, $0.01 par value per share, of Berkshire Realty Company, Inc. (File No. 1-10660). EX-99.1 2 NEWS RELEASE - -------------------------------------------------------------------------------- Berkshire Realty Company, Inc. ( NYSE-BRI ) NEWS RELEASE - -------------------------------------------------------------------------------- FOR FURTHER INFORMATION CONTACT: AT THE COMPANY: AT THE FINANCIAL RELATIONS BOARD: David Marshall, CEO (617) 646-2325 Virginia St. John-Needham, General Information (310) 442-0599 Marianne Pritchard, CFO (617) 646-2322 Stephanie Mishra, Analyst Information (415) 986-1591 Shareholder Relations: (888) 867-0100 Martin Gitlin, Media Information (212) 661-8030 AT BERKSHIRE REALTY HOLDINGS: Douglas Krupp (617) 574-8360
BERKSHIRE REALTY COMPANY, INC. ANNOUNCES DEFINITIVE MERGER AGREEMENT WITH PARTNERSHIP LED BY CHAIRMAN OF BOARD Boston, MA - April 14, 1999 -- Berkshire Realty Company, Inc. (the "Company") (NYSE: BRI) and Berkshire Realty Holdings, L.P., a partnership formed by Chairman of the Board Douglas Krupp and affiliates of Blackstone Real Estate Advisors and Whitehall Street Real Estate Limited Partnership XI (an affiliate of Goldman, Sachs & Co.), today announced that they have entered into a definitive merger agreement. The Company's Board of Directors has approved the merger agreement based on a recommendation from a special committee of the Board comprised of four independent directors. Pursuant to the terms of the agreement, shareholders of Berkshire will receive $12.25 in cash per share of common stock. Limited partners in Berkshire's Operating Partnership can elect to receive the same cash consideration per OP unit or become limited partners of the acquiring partnership. The transaction is valued in excess of $1.3 billion. "My partners and I are excited at the prospect of continuing to develop the business of Berkshire," Mr. Krupp stated. "At the same time this is also a good outcome for Berkshire's shareholders in a difficult market for public real estate companies." Berkshire announced in May 1998 that its Board of Directors had engaged advisors to review various strategic alternatives for the Company, including a potential sale or merger and a Plan of Liquidation that Berkshire's charter requires be presented to its shareholders. In December 1998, the Company announced that it had filed proxy materials with the Securities and Exchange Commission related to a Plan of Liquidation and that the Board had decided to recommend to shareholders that they vote against approval of the Plan. Berkshire's Board believes that the merger produces the greatest value to shareholders. Filings with the Securities and Exchange Commission on Schedule 13D had previously been made by the investors in the acquiring partnership detailing their prior merger proposals. The transaction will be a taxable event for common shareholders and OP unit holders who elect to receive the cash consideration. The transaction is subject to the approval of Berkshire's shareholders and other closing conditions. It is anticipated the closing will occur in the fourth quarter of 1999. Berkshire was advised by Lazard Freres & Co., LLC, Lehman Brothers Inc. and Prudential Securities. Greenhill & Co., LLC advised the acquiring partnership. General Counsel Scott Spelfogel and Hale and Dorr LLP represented Berkshire while Baker & Hostetler LLP represented the Special Committee of the Board of Directors of Berkshire. Douglas Krupp was represented by Paul, Weiss, Rifkind, Wharton & Garrison. Blackstone was represented by Simpson Thacher & Bartlett and Whitehall was represented by Sullivan & Cromwell. Berkshire Realty Company, Inc. is a multifamily real estate investment trust which acquires, renovates, rehabilitates, develops and operates apartment communities. The Company currently owns 82 apartment communities consisting of 24,387 units located in Florida, Texas and the Mid-Atlantic and Southeastern United States. Whitehall Street Real Estate Limited Partnership XI is a $2.2 billion equity fund and is the seventh in a series of funds sponsored and capitalized by Goldman Sachs, along with public and private investors, to acquire real estate worldwide. Blackstone Real Estate Advisors, an affiliate of The Blackstone Group, has invested approximately $5.5 billion in real estate assets, including buildings representing over 11 million square feet of office space in the United States and Europe, and luxury hotels such as the Savoy, Four Seasons, Ritz-Carlton and Hyatts with more than 5,800 rooms. The firm, based in New York, will make the investment from its third real estate private equity fund. For more information on Berkshire Realty, via fax at no charge, please dial 1-800-PRO-INFO and enter ticker symbol BRI, or visit our web site at http://www.brireit.com.
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