EX-99 2 amli_99.txt EXHIBIT 99 ---------- AMLI RESIDENTIAL PROPERTIES TRUST SUPPLEMENTAL INFORMATION TO QUARTERLY FINANCIAL STATEMENTS March 31, 2001 1. Funds from Operations 2. Statements of Operations 3. Balance Sheets 4. Selected Financial Information 5. Debt 6. Debt Maturities 7. Same Community Comparison - Wholly-Owned - three months ended March 31, 2001 and 2000 8. Same Community Comparison - Wholly-Owned and Co-Investments - three months ended March 31, 2001 and 2000 9. Property Information 10. Property EBITDA - three months ended March 31, 2001 11. Development Activities AMLI RESIDENTIAL PROPERTIES TRUST FUNDS FROM OPERATIONS Unaudited - Dollars in thousands except per share data THREE MONTHS ENDED MARCH 31, ------------------------ 2001 2000 -------- -------- REVENUES -------- Property revenues: Rental. . . . . . . . . . . . . . . $ 26,765 26,274 Other . . . . . . . . . . . . . . . 1,570 1,537 -------- -------- Total Property Revenues . . . 28,335 27,811 -------- -------- Property operating expenses . . . . . (10,108) (9,843) Property management fees. . . . . . . (708) (695) -------- -------- Property expenses . . . . . . (10,816) (10,538) Operating expense ratio . . . . . . . 38.2% 37.9% -------- -------- Net operating income. . . . . 17,519 17,273 -------- -------- OTHER INCOME ------------ Share of Service Cos. FFO (1) . . . (479) (275) Interest from Service Companies (2) 180 1,210 Other interest. . . . . . . . . . . 477 355 Share of partnerships FFO (3) . . . 4,958 2,873 Fee income - acquisitions, dispositions and financing . . . . . . . . . . 239 110 Fee income - developments . . . . . 275 385 Fee income - asset management . . . 143 148 Promoted interest . . . . . . . . . -- -- Other . . . . . . . . . . . . . . . -- -- -------- -------- Total other income. . . . . . 5,793 4,806 General and administrative (4). . . . (1,518) (928) -------- -------- EBITDA. . . . . . . . . . . . . . . . 21,794 21,151 -------- -------- Interest expense. . . . . . . . . . . (6,427) (5,642) Amortization of deferred costs. . . . (136) (118) -------- -------- FUNDS FROM OPERATIONS (FFO) . . . . . $ 15,231 15,391 ======== ======== AMLI RESIDENTIAL PROPERTIES TRUST FUNDS FROM OPERATIONS - CONTINUED Unaudited - Dollars in thousands except per share data THREE MONTHS ENDED MARCH 31, ------------------------ 2001 2000 -------- -------- Capital expenditures paid from FFO (5) (999) (793) Other - share of Co-investments Cap exp (210) (93) -------- -------- Funds available for distribution (FAD) $ 14,022 14,505 ======== ======== FFO per share . . . . . . . . . . . . $ 0.61 0.63 FAD per share . . . . . . . . . . . . $ 0.56 0.59 Dividend per share. . . . . . . . . . $ 0.47 0.46 Dividend as a % of FFO. . . . . . . . 76.9% 73.5% Dividend as a % of FAD. . . . . . . . 83.5% 78.0% ======== ======== [FN] NOTES: (1) Reflects share of income before goodwill amortization of $104 in each of the three months ended March 31, 2001 and 2000. (2) Reflects the December 2000 refinancing by the Service Companies of $27 million of intercompany advances with bank debt. (3) Reflects share of income before share of depreciation of $2,696 and $1,688 for the three months ended March 31, 2001 and 2000, respectively. (4) In 2001, includes write-offs and provision for loss on investments totalling $227. (5) Rehab costs of approximately $406 and $1,351 for the three months ended March 31, 2001 and 2000, respectively, are not reflected in cap ex paid from FFO. AMLI RESIDENTIAL PROPERTIES TRUST STATEMENTS OF OPERATIONS Unaudited - Dollars in thousands except per share data THREE MONTHS ENDED MARCH 31, ------------------------ 2001 2000 -------- -------- REVENUES -------- Property revenues: Rental. . . . . . . . . . . . . . . $ 26,765 26,274 Other . . . . . . . . . . . . . . . 1,570 1,537 Interest and share of income (loss) from Service Cos. . . . . . . . . . (403) 831 Other interest. . . . . . . . . . . . 477 355 Share of income from co-investment partnerships. . . . . . . . . . . . 2,262 1,185 Fees from co-investment partnerships & other . . . . . . . . . . . . . . 657 643 -------- -------- Total revenues. . . . . . . . 31,328 30,825 -------- -------- EXPENSES -------- Personnel . . . . . . . . . . . . . . 2,837 2,743 Advertising and promotion . . . . . . 532 521 Utilities . . . . . . . . . . . . . . 888 773 Building repairs and maintenance. . . 1,178 1,381 Landscaping and grounds maintenance . 500 554 Real estate taxes . . . . . . . . . . 3,540 3,342 Insurance . . . . . . . . . . . . . . 307 230 Other operating expenses. . . . . . . 326 299 Property management fees. . . . . . . 708 695 Interest, net of capitalized. . . . . 6,427 5,642 Amortization of deferred costs. . . . 136 118 Depreciation of real property . . . . 3,597 3,511 Depreciation of personal property . . 1,489 1,455 General and administrative. . . . . . 1,518 928 -------- -------- Total expenses. . . . . . . . 23,983 22,192 -------- -------- AMLI RESIDENTIAL PROPERTIES TRUST STATEMENTS OF OPERATIONS - CONTINUED Unaudited - Dollars in thousands except per share data THREE MONTHS ENDED MARCH 31, ------------------------ 2001 2000 -------- -------- Non-recurring item - gains on sale of properties (1). . . . . . . . . . . -- 22,316 -------- -------- Income before taxes, minority interest and extraordinary item. . . . . . . 7,345 30,949 Minority interest . . . . . . . . . . 940 5,021 -------- -------- Income before extraordinary items . . 6,405 25,928 Extraordinary items, net of minority interest . . . . . . . . . -- -- -------- -------- Net income. . . . . . . . . . . . . . $ 6,405 25,928 Net income allocable to preferred shares. . . . . . . . . . 1,633 1,829 -------- -------- Net income allocable to common shares $ 4,772 24,099 ======== ======== INCOME PER COMMON SHARE: ----------------------- Before extraordinary items. . . . . . $ 0.27 1.42 Extraordinary item. . . . . . . . . . $ 0.00 0.00 Income per common share . . . . . . . $ 0.27 1.42 Income per common share - diluted . . $ 0.27 1.23 ======== ======== FUNDS FROM OPERATIONS --------------------- Income before taxes, minority interest and extraordinary item. . . . . . . $ 7,345 30,949 -------- -------- Depreciation of real property . . . . 3,597 3,511 Depreciation of personal property . . 1,489 1,455 Non-recurring item - gains on sale of properties. . . . . . . . . -- (22,316) Share of Co-investments depreciation. 2,696 1,688 Share of Service Company amortization of goodwill . . . . . . . . . . . . 104 104 -------- -------- Funds from operations (FFO) . . . . . $ 15,231 15,391 FFO per share . . . . . . . . . . . . $ 0.61 0.63 ======== ======== AMLI RESIDENTIAL PROPERTIES TRUST STATEMENT OF OPERATIONS - CONTINUED Unaudited - Dollars in thousands except per share data THREE MONTHS ENDED MARCH 31, ------------------------ 2001 2000 -------- -------- Capital expenditures paid from FFO. . (999) (793) Other - Share Co-investments Cap exp. (210) (93) -------- -------- Funds available for distribution (FAD) $ 14,022 14,505 FAD per share . . . . . . . . . . . . $ 0.56 0.59 -------- -------- Dividends per share . . . . . . . . . $ 0.47 0.45 ======== ======== Dividends as a % of FFO . . . . . . . 76.9% 73.5% Dividends as a % of FAD . . . . . . . 83.5% 78.0% ======== ======== AMLI RESIDENTIAL PROPERTIES TRUST CONDENSED BALANCE SHEETS Unaudited - Dollars in thousands except per share data MAR. 31, DEC. 31, 2001 2000 -------- -------- ASSETS ------ Rental apartments Land. . . . . . . . . . . . . . . . $ 92,652 91,242 Depreciable property. . . . . . . . 603,650 604,081 -------- -------- 696,302 695,323 Less accumulated depreciation . . . (94,851) (94,590) -------- -------- 601,451 600,733 Rental apartments held for sale, net of accumulated depreciation . . 29,850 -- Land. . . . . . . . . . . . . . . . . 54,856 53,022 Investments in partnerships . . . . . 181,396 166,569 Cash and cash equivalents . . . . . . 2,103 5,106 Security deposits . . . . . . . . . . 1,458 1,455 Deferred costs, net . . . . . . . . . 3,331 3,425 Notes receivable and advances to Service Companies . . . . . . . . . 6,190 4,857 Other assets. . . . . . . . . . . . . 9,539 30,824 -------- -------- Total assets. . . . . . . . . $890,174 865,991 ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY ------------------------------------ Debt. . . . . . . . . . . . . . . . . $412,242 385,981 Accrued interest payable. . . . . . . 1,501 1,783 Accrued real estate taxes . . . . . . 5,780 10,806 Construction costs payable. . . . . . 1,350 1,501 Security deposits and prepaid rents . 3,015 2,507 Other liabilities . . . . . . . . . . 6,676 3,937 -------- -------- Total liabilities . . . . . . 430,564 406,515 -------- -------- AMLI RESIDENTIAL PROPERTIES TRUST CONDENSED BALANCE SHEETS - CONTINUED Unaudited - Dollars in thousands except per share data MAR. 31, DEC. 31, 2001 2000 -------- -------- Minority interest . . . . . . . . . . $ 67,039 59,537 -------- -------- Shareholders' equity Preferred shares, $.01 par value. . 35 35 Shares of beneficial interest, $.01 par value. . . . . . . . . . 177 178 Additional paid-in capital. . . . . 426,903 427,939 Employees and trustees notes. . . . (12,267) (12,231) Other comprehensive loss. . . . . . (2,678) -- Dividends paid in excess of earnings (19,599) (15,982) -------- -------- Total shareholders' equity. . 392,571 399,939 -------- -------- Total liabilities and shareholders' equity. . . . $890,174 865,991 ======== ======== AMLI RESIDENTIAL PROPERTIES TRUST SELECTED QUARTERLY FINANCIAL INFORMATION March 31, 2001 (dollars in thousands except for share data)
Quarter ending ------------------------------------------------------------------------- Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 2001 2000 2000 2000 2000 ---------- ---------- ---------- ---------- ---------- Debt $ 412,242 385,981 398,956 393,168 398,867 Including share of debt of unconsolidated affiliates $ 635,166 583,635 542,778 520,597 510,230 Total Shares and Units Outstanding (1) 24,873,832 24,558,242 24,552,642 24,544,475 24,544,475 Value per Common Share - end of quarter $ 22.30 24.6875 24.00 23.5625 20.50 Total Equity (Market Value) - end of quarter $ 554,686 606,282 589,263 578,329 503,162 Market capitalization $ 966,928 992,263 988,219 971,497 902,029 Including share of debt of unconsolidated affiliates $1,189,852 1,189,917 1,132,041 1,098,926 1,013,392 Including Co-investment at completed cost $2,066,236 2,065,511 1,905,589 1,826,661 1,678,237 ========== ========== ========== ========== ========== AMLI RESIDENTIAL PROPERTIES TRUST SELECTED QUARTERLY FINANCIAL INFORMATION - CONTINUED March 31, 2001 (dollars in thousands except for share data) Quarter ending ------------------------------------------------------------------------- Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 2001 2000 2000 2000 2000 ---------- ---------- ---------- ---------- ---------- Total Revenues (2) $ 31,328 32,689 34,135 34,097 30,825 EBITDA (3) $ 21,794 23,423 24,258 24,156 21,151 FFO $ 15,231 16,877 17,804 17,787 15,391 FAD $ 14,022 15,626 15,847 16,442 14,505 Dividends Paid $ 11,740 11,541 11,537 11,290 11,290 Debt service (net of capitalized interest) $ 7,166 7,177 7,065 6,947 6,316 Interest Expense $ 6,427 6,452 6,353 6,248 5,642 G & A Expense $ 1,518 1,056 842 930 928 Total Shares and Units Outstanding - Wtd. Avg. 24,813,456 24,555,937 24,546,254 24,544,475 24,541,971 ========== ========== ========== ========== ========== AMLI RESIDENTIAL PROPERTIES TRUST SELECTED QUARTERLY FINANCIAL INFORMATION - CONTINUED March 31, 2001 (dollars in thousands except for share data) Quarter ending ------------------------------------------------------------------------- Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 2001 2000 2000 2000 2000 ---------- ---------- ---------- ---------- ---------- Interest Coverage Ratio 3.39 3.63 3.82 3.87 3.75 Debt as % of Total Market Capitalization 42.63% 38.90% 40.37% 40.47% 44.22% Including share of debt of unconsolidated affiliates 53.38% 49.05% 47.95% 47.37% 50.35% EBITDA as % of Total Market Capitalization 9.02% 9.44% 9.82% 9.95% 9.38% FFO as % of Total Market Equity 10.98% 11.13% 12.09% 12.30% 12.24% G&A as % of Total Market Capitalization 0.63% 0.43% 0.34% 0.38% 0.41% G&A as % of Total Revenues 4.85% 3.23% 2.47% 2.73% 3.01% Dividends as % of FFO (4) 76.9% 68.8% 65.5% 65.2% 73.5% Dividends as % of FAD (4) 83.5% 74.3% 73.5% 70.6% 78.0% ========== ========== ========== ========== ========== Apartment Units - In Operation Wholly Owned 12,519 12,191 12,264 12,264 12,576 Co-investments 15,067 13,956 11,604 10,963 9,205 ---------- ---------- ---------- ---------- ---------- 27,586 26,147 23,868 23,227 21,781 ---------- ---------- ---------- ---------- ---------- Apartment Units - Under Development or in lease up Wholly Owned -- -- 500 500 200 Co-investments 2,217 2,845 3,642 3,234 4,098 ---------- ---------- ---------- ---------- ---------- 2,217 2,845 4,142 3,734 4,298 ---------- ---------- ---------- ---------- ---------- Total Units 29,803 28,992 28,010 26,961 26,079 ========== ========== ========== ========== ========== (1) At March 31, 2001, the total includes 3,475,000 preferred shares convertible to common shares. (2) Excluding gains on sales of completed rental properties. (3) Includes other income, net of G & A expenses and net of share of co-investment interest expense. (4) Based on per share amounts.
AMLI RESIDENTIAL PROPERTIES TRUST PORTFOLIO INDEBTEDNESS SUMMARY March 31, 2001 (Dollars in thousands)
Weighted Avg. Percent of Interest Years to Type of Indebtedness Balance Total Interest Rate Maturity -------------------- -------- ----------- ---------- --------- ---------- Conventional Fixed Rate $164,992 40.0% Fixed 7.63% 6.0 Tax-exempt Variable Rate (1) 50,250 12.2% Variable 4.74% 1.6 Credit Facilities (2) 192,000 46.6% Variable 6.31% 1.5 Service Companies 5,000 1.2% Fixed 10.00% 1.8 -------- ------ ------ --- Total $412,242 100.0% 6.69% 3.3 ======== ====== ====== === Weighted Balance including Avg. share of Co- Percent of Interest Years to Type of Indebtedness investment debt(3) Total Interest Rate Maturity -------------------- ----------------- ----------- ---------- --------- ---------- Conventional Fixed Rate $360,916 59.3% Fixed 7.56% 6.8 Tax-exempt Variable Rate (1) 50,250 8.3% Variable(4) 4.74% 1.6 Credit Facilities (2) 192,000 31.6% Variable(4) 6.31% 1.5 Service Companies 5,000 0.8% Fixed 10.00% 1.8 -------- ------ ------ --- Total $608,166 100.0% 6.95% 4.6 ======== ====== ====== === (1) Maturity Date shown is expiration date of Credit Enhancement. Bonds mature in 2024. (2) $150,000 has been swapped to a fixed rate ($20,000 maturing in November 2002, $30,000 maturing in February 2003, $25,000 maturing in September 2004 and $75,000 maturing in May 2001.) Effective interest rate includes swap costs. Outstanding balance excludes $27,000 borrowed by unconsolidated service company subsidiaries which reduces availability under the line of credit. (3) Co-Investment debt represents Amli Residential's pro rata share of debt. Interest rate and maturity reflect average numbers based on Amli's pro rata share. (4) Weighted average interest rate reflects rate in effect of the last day of the quarter.
AMLI RESIDENTIAL PROPERTIES TRUST DEBT MATURITIES MARCH 31, 2001 Unaudited - dollars in thousands
There- % to 2001 2002 2003 2004 2005 after Total Total -------- -------- -------- -------- -------- -------- -------- ------- Fixed Rate Mortgages $ 2,300 3,273 60,117 8,933 32,877 57,492 164,992 40.0% Tax Exempt Bonds* 50,250 50,250 12.2% Wachovia/First Chicago Line of Credit** 192,000 192,000 46.6% Other 5,000 5,000 1.2% -------- -------- -------- -------- -------- -------- -------- ------- Total Loans $ 2,300 245,523 65,117 8,933 32,877 57,492 412,242 100.0% ======== ======== ======== ======== ======== ======== ======== ======= Percent to Total 0.6% 59.5% 15.8% 2.2% 8.0% 13.9% 100.0% 67.8% ======== ======== ======== ======== ======== ======== ======== ======= SHARE OF CO-INVESTMENT DEBT --------------------------- Total Share of Co-Investments Loans $ 1,728 8,864 26,003 9,846 2,045 147,438 195,924 100.0% ======== ======== ======== ======== ======== ======== ======== ======= Percent to Total 0.9% 4.5% 13.3% 5.0% 1.0% 75.3% 100.0% 32.2% ======== ======== ======== ======== ======== ======== ======== ======= Total including Share of Co-investments Debt $ 4,028 254,387 91,120 18,779 34,922 204,930 608,166 100.0% ======== ======== ======== ======== ======== ======== ======== ======= Percent to Total 0.7% 41.8% 15.0% 3.1% 5.7% 33.7% 100.0% 100.0% ======== ======== ======== ======== ======== ======== ======== ======= * The Spring Creek Bonds mature in October 2024, but the credit enhancement expires on October 15, 2002. * The Poplar Creek Bonds mature in February 2024, but credit enhancement expires December 18, 2002. ** The Unsecured Line of Credit has a current maturity of Nov. 2003, with an additional year extension option. At March 31, 2001, the Company's unconsolidated service company subsidiaries had borrowed $27,000 from the Company's bank group. These borrowings have been guaranteed by the Company and thus serve to reduce the Company's total availability under its $250,000 unsecured debt.
AMLI RESIDENTIAL PROPERTIES L.P. - "SAME COMMUNITY COMPARISON" (WHOLLY-OWNED PROPERTIES) THREE MONTHS ENDED MARCH 31, 2001 VERSUS THREE MONTHS ENDED MARCH 31, 2000 (Excludes all properties acquired or stabilized after 1/1/00)
1/1/01-3/31/01 1/1/00-3/31/00 No. of --------------------------------- % -------------------------------- Apts. Amount/% Per Unit Per Sq Ft Change Amount/% Per Unit Per Sq Ft -------- -------- -------- ---------- ------ ---------- -------- --------- WEIGHTED AVG. OCCUPANCY ------------- Dallas 4,560 93.5% 0.4% 93.1% Atlanta 2,621 92.8% 0.4% 92.5% Austin 698 91.4% -4.0% 95.2% Indianapolis 1,536 85.8% 4.4% 82.2% Kansas 1,306 86.0% -0.8% 86.8% Chicago 196 98.3% 2.1% 96.3% ------ ----- ----- ----- Weighted Average 91.3% 0.5% 90.9% ===== ===== ===== Total 10,917 ====== WEIGHTED AVG. RENTAL RATE ------------- Dallas $ 738 2.3% $ 721 Atlanta $ 837 4.3% $ 802 Austin $ 876 8.9% $ 804 Indianapolis $ 698 3.6% $ 673 Kansas $ 812 -1.0% $ 820 Chicago $1,081 6.7% $1,013 ------ ---- ------ Weighted Average $ 780 3.1% $ 756 ====== ==== ====== TOTAL PROPERTY REVENUES Per Month Per Month --------------- ---------- ---------- Dallas $ 9,903,178 $ 724 $ 0.83 2.5% $ 9,666,147 $ 707 $ 0.81 Atlanta $ 6,469,358 $ 823 $ 0.86 5.4% $ 6,138,751 $ 781 $ 0.82 Austin $ 1,781,930 $ 851 $ 1.04 4.2% $ 1,710,924 $ 817 $ 1.00 Indianapolis $ 2,962,448 $ 643 $ 0.71 7.6% $ 2,753,883 $ 598 $ 0.66 Kansas $ 2,947,286 $ 752 $ 0.76 -1.9% $ 3,004,116 $ 767 $ 0.77 Chicago $ 637,931 $1,085 $ 1.20 7.2% $ 595,060 $1,012 $ 1.12 ----------- ------ ------ ----- ----------- ------ ------ Total $24,702,132 $ 754 $ 0.83 3.5% $23,868,880 $ 729 $ 0.80 =========== ====== ===== ===== =========== ====== ====== AMLI RESIDENTIAL PROPERTIES L.P. - "SAME COMMUNITY COMPARISON" (WHOLLY-OWNED PROPERTIES) - CONTINUED 1/1/01-3/31/01 1/1/00-3/31/00 --------------------------------- % -------------------------------- Amount/% Per Unit Per Sq Ft Change Amount/% Per Unit Per Sq Ft -------- -------- ---------- ------ ---------- -------- --------- PROPERTY OPERATING EXPENSES (ANNUALIZED) (ANNUALIZED) --------------------------- ------------ ------------ Dallas $ 3,988,322 $3,499 $4.02 -1.1% $ 4,031,821 $3,537 $4.06 Atlanta $ 2,323,976 $3,547 $3.72 10.9% $ 2,095,102 $3,197 $3.36 Austin $ 682,344 $3,910 $4.79 3.6% $ 658,840 $3,776 $4.62 Indianapolis $ 1,101,759 $2,869 $3.19 1.5% $ 1,085,200 $2,826 $3.14 Kansas $ 1,026,030 $3,143 $3.16 4.5% $ 981,965 $3,008 $3.02 Chicago $ 263,229 $5,372 $5.93 16.7% $ 225,465 $4,601 $5.08 ------------ ------ ----- ----- ----------- ------ ----- Total $ 9,385,661 $3,439 $3.79 3.4% $ 9,078,392 $3,326 $3.67 ============ ====== ===== ===== =========== ====== ===== Operating Efficiency 38.0% 38.0% ============ ===========
PER MONTH PER MONTH --------- ---------- NOI 2001% 2000% --- ----- ----- Dallas 59.7% 58.3% $ 5,914,857 $432 $0.50 5.0% $ 5,634,326 $412 $0.47 Atlanta 64.1% 65.9% $ 4,145,381 $527 $0.55 2.5% $ 4,043,649 $514 $0.54 Austin 61.7% 61.5% $ 1,099,586 $525 $0.64 4.5% $ 1,052,084 $502 $0.62 Indianapolis62.8% 60.6% $ 1,860,688 $404 $0.45 11.5% $ 1,668,683 $362 $0.40 Kansas 65.2% 67.3% $ 1,921,257 $490 $0.49 -5.0% $ 2,022,151 $516 $0.52 Chicago 58.7% 62.1% $ 374,702 $637 $0.70 1.4% $ 369,595 $629 $0.69 ----- ----- ------------ ---- ----- ----- ----------- ---- ----- Total 62.0% 62.0% $ 15,316,471 $468 $0.52 3.6% $14,790,488 $452 $0.50 ===== ===== ============ ==== ===== ===== =========== ==== ===== Operating Margin 62.0% 62.0% ============ =========== CAPITAL EXPENDITURES (ANNUALIZED) (ANNUALIZED) -------------------- ------------ ------------- Dallas $ 475,412 $ 417 $0.48 25.0% $ 380,393 $ 334 $0.38 Atlanta $ 232,081 $ 354 $0.37 51.4% $ 153,299 $ 234 $0.25 Austin $ 35,026 $ 201 $0.25 -23.3% $ 45,678 $ 262 $0.32 Indianapolis $ 77,271 $ 201 $0.22 76.7% $ 43,719 $ 114 $0.13 Kansas $ 103,929 $ 318 $0.32 72.9% $ 60,124 $ 184 $0.19 Chicago $ 19,486 $ 398 $0.44 6.2% $ 18,346 $ 374 $0.41 ------------ ------ ----- ------ ---------- ------ ----- Total $ 943,206 $ 346 $0.38 34.4% $ 701,559 $ 257 $0.28 ============ ====== ===== ====== ========== ====== =====
AMLI RESIDENTIAL PROPERTIES L.P. - "SAME COMMUNITY COMPARISON" (WHOLLY-OWNED PROPERTIES) - CONTINUED
3/1/01-3/31/01 3/1/00-3/31/00 --------------------------------- % -------------------------------- Amount/% Per Unit Per Sq Ft Change Amount/% Per Unit Per Sq Ft -------- -------- ---------- ------ ---------- -------- --------- REPAIRS AND MAINTENANCE (ANNUALIZED) (ANNUALIZED) ----------------------- ------------ ------------ Dallas $ 445,603 $ 391 $0.45 -16.2% $ 531,693 $ 466 $0.54 Atlanta $ 337,731 $ 515 $0.54 4.9% $ 321,975 $ 491 $0.52 Austin $ 47,653 $ 273 $0.33 -22.4% $ 61,410 $ 352 $0.43 Indianapolis $ 145,095 $ 378 $0.42 0.7% $ 144,023 $ 375 $0.42 Kansas $ 87,595 $ 268 $0.27 0.4% $ 87,247 $ 267 $0.27 Chicago $ 19,833 $ 405 $0.45 -34.8% $ 30,428 $ 621 $0.69 ------------ ------ ----- ------ ---------- ------ ----- Total $ 1,083,509 $ 397 $0.44 -7.9% $1,176,776 $ 431 $0.48 ============ ====== ===== ====== ========== ====== ===== REAL ESTATE TAXES (ANNUALIZED) (ANNUALIZED) ----------------- ------------ ------------ Dallas $ 1,443,993 $1,267 $1.45 -0.5% $1,451,563 $1,273 $1.46 Atlanta $ 502,923 $ 768 $0.81 6.8% $ 470,819 $ 719 $0.75 Austin $ 288,620 $1,654 $2.03 5.4% $ 273,769 $1,569 $1.92 Indianapolis $ 295,000 $ 768 $0.85 -3.8% $ 306,540 $ 798 $0.89 Kansas $ 291,349 $ 892 $0.90 8.9% $ 267,528 $ 819 $0.82 Chicago $ 144,375 $2,946 $3.25 42.6% $ 101,239 $2,066 $2.28 ------------ ------ ----- ----- ---------- ------ ----- Total $ 2,966,259 $1,087 $1.20 3.3% $2,871,459 $1,052 $1.16 ============ ====== ===== ===== ========== ====== =====
AMLI RESIDENTIAL PROPERTIES L.P. - "SAME COMMUNITY COMPARISON" (CO-INVESTMENT PROPERTIES) THREE MONTHS ENDED MARCH 31, 2001 VERSUS THREE MONTHS ENDED MARCH 31, 2000 (Excludes all properties acquired or stabilized after 1/1/00)
1/1/2001-3/31/2001 1/1/2000-3/31/2000 No. of --------------------------------- % -------------------------------- Apts. Amount/% Per Unit Per Sq Ft Change Amount/% Per Unit Per Sq Ft -------- -------- -------- ---------- ------ ---------- -------- --------- WEIGHTED AVG. OCCUPANCY ------------- Dallas 2,360 90.5% -4.4% 94.7% Atlanta 2,038 93.9% -0.6% 94.5% Austin 576 81.7% -12.7% 93.6% Houston 754 88.7% -7.3% 95.7% Kansas 368 85.8% -0.4% 86.2% Chicago 2,188 95.8% 1.5% 94.4% ------ ----- ----- ----- Weighted Average 91.8% -2.6% 94.2% ===== ===== ===== Total 8,284 ====== WEIGHTED AVG. RENTAL RATE ------------- Dallas $ 775 1.2% $ 765 Atlanta $ 922 3.9% $ 888 Austin $ 918 8.0% $ 850 Houston $ 730 0.0% $ 730 Kansas $ 772 0.0% $ 772 Chicago $1,054 5.3% $1,001 ------ ---- ------ Weighted Average $ 890 3.5% $ 861 ====== ==== ====== TOTAL PROPERTY REVENUES Per Month Per Month --------------- ---------- ---------- Dallas $ 5,216,704 $ 737 $ 0.84 -3.3% $ 5,396,692 $ 762 $ 0.87 Atlanta $ 5,599,287 $ 916 $ 0.86 2.7% $ 5,450,553 $ 891 $ 0.84 Austin $ 1,367,867 $ 792 $ 0.82 -5.5% $ 1,447,166 $ 837 $ 0.87 Houston $ 1,513,042 $ 669 $ 0.72 -8.6% $ 1,654,870 $ 732 $ 0.79 Kansas $ 782,635 $ 709 $ 0.75 -2.0% $ 798,732 $ 723 $ 0.77 Chicago $ 7,036,455 $1,072 $ 1.23 6.2% $ 6,622,717 $1,009 $ 1.16 ----------- ------ ------ ----- ----------- ------ ------ $21,515,990 $ 866 $ 0.93 0.7% $21,370,730 $ 860 $ 0.92 =========== ====== ====== ===== =========== ====== ====== AMLI RESIDENTIAL PROPERTIES L.P. - "SAME COMMUNITY COMPARISON" (CO-INVESTMENT PROPERTIES) - CONTINUED 1/1/2001-3/31/2001 1/1/2000-3/31/2000 --------------------------------- % -------------------------------- Amount/% Per Unit Per Sq Ft Change Amount/% Per Unit Per Sq Ft -------- -------- ---------- ------ ---------- -------- --------- PROPERTY OPERATING EXPENSES (ANNUALIZED) (ANNUALIZED) --------------------------- ------------ ------------ Dallas $ 2,357,007 $3,995 $4.55 2.0% $ 2,310,768 $3,917 $4.46 Atlanta $ 1,838,535 $3,609 $3.41 1.0% $ 1,821,134 $3,574 $3.37 Austin $ 617,467 $4,288 $4.45 2.5% $ 602,305 $4,183 $4.34 Houston $ 763,919 $4,053 $4.38 13.2% $ 674,695 $3,579 $3.87 Kansas $ 309,208 $3,361 $3.57 4.6% $ 295,494 $3,212 $3.41 Chicago $ 2,236,914 $4,089 $4.70 3.4% $ 2,164,398 $3,957 $4.55 ------------ ------ ----- ----- ----------- ------ ----- Total $ 8,123,049 $3,922 $4.20 3.2% $ 7,868,794 $3,800 $4.07 ============ ====== ===== ===== =========== ====== ===== Operating Efficiency 37.8% 36.8% ============ ==========
PER MONTH PER MONTH --------- ---------- NOI 2001% 2000% --- ----- ----- Dallas 54.8% 57.2% $ 2,859,697 $404 $0.46 -7.3% $ 3,085,925 $436 $0.50 Atlanta 67.2% 66.6% $ 3,760,752 $615 $0.58 3.6% $ 3,629,419 $594 $0.56 Austin 54.9% 58.4% $ 750,400 $434 $0.45 -11.2% $ 844,861 $489 $0.51 Houston 49.5% 59.2% $ 749,123 $331 $0.36 -23.6% $ 980,175 $433 $0.47 Kansas 60.5% 63.0% $ 473,427 $429 $0.46 -5.9% $ 503,238 $456 $0.48 Chicago 68.2% 67.3% $ 4,799,541 $731 $0.84 7.7% $ 4,458,319 $679 $0.78 ----- ----- ------------ ---- ----- ----- ----------- ---- ----- Total 62.2% 63.2% $ 13,392,941 $539 $0.58 -0.8% $13,501,936 $543 $0.58 ===== ===== ============ ==== ===== ===== =========== ==== ===== Operating Margin 62.2% 63.2% ============ ===========
AMLI RESIDENTIAL PROPERTIES L.P. - "SAME COMMUNITY COMPARISON" (CO-INVESTMENT PROPERTIES) - CONTINUED
1/1/2001-3/31/2001 1/1/2000-3/31/2000 --------------------------------- % -------------------------------- Amount/% Per Unit Per Sq Ft Change Amount/% Per Unit Per Sq Ft -------- -------- ---------- ------ ---------- -------- --------- CAPITAL EXPENDITURES (ANNUALIZED) (ANNUALIZED) -------------------- ------------ ------------ Dallas $ 141,302 $ 239 $0.27 34.9% $ 104,709 $ 177 $0.20 Atlanta $ 88,679 $ 174 $0.16 166.4% $ 33,285 $ 65 $0.06 Austin $ -- $ -- $ -- -- % $ -- $ -- $ -- Houston $ 50,872 $ 270 $0.29 161.3% $ 19,471 $ 103 $0.11 Kansas $ 30,596 $ 333 $0.35 93.8% $ 15,789 $ 172 $0.18 Chicago $ 219,313 $ 401 $0.46 90.3% $ 115,222 $ 211 $0.24 ------------ ------ ----- ------ ---------- ------ ----- Total $ 530,761 $ 256 $0.27 84.0% $ 288,475 $ 139 $0.15 ============ ====== ===== ====== ========== ====== ===== REPAIRS AND MAINTENANCE (ANNUALIZED) (ANNUALIZED) ----------------------- ------------ ------------ Dallas $ 229,094 $ 388 $0.44 34.2% $ 170,749 $ 289 $0.33 Atlanta $ 177,363 $ 348 $0.33 10.2% $ 160,877 $ 316 $0.30 Austin $ 32,058 $ 223 $0.23 -32.6% $ 47,557 $ 330 $0.34 Houston $ 43,983 $ 233 $0.25 -3.1% $ 45,371 $ 241 $0.26 Kansas $ 25,282 $ 275 $0.29 24.1% $ 20,378 $ 221 $0.24 Chicago $ 277,672 $ 508 $0.58 0.4% $ 276,441 $ 505 $0.58 ------------ ------ ----- ------ ---------- ------ ----- Total $ 785,452 $ 379 $0.41 8.9% $ 721,372 $ 348 $0.37 ============ ====== ===== ====== ========== ====== ===== REAL ESTATE TAXES (ANNUALIZED) (ANNUALIZED) ----------------- ------------ ------------ Dallas $ 844,243 $1,431 $1.63 -1.4% $ 856,009 $1,451 $1.65 Atlanta $ 529,826 $1,040 $0.98 5.2% $ 503,831 $ 989 $0.93 Austin $ 287,500 $1,997 $2.07 9.5% $ 262,500 $1,823 $1.89 Houston $ 279,197 $1,481 $1.60 -0.3% $ 280,160 $1,486 $1.61 Kansas $ 91,305 $ 992 $1.05 8.5% $ 84,120 $ 914 $0.97 Chicago $ 813,427 $1,487 $1.71 0.9% $ 806,038 $1,474 $1.69 ------------ ------ ----- ------ ---------- ------ ----- Total $ 2,845,498 $1,374 $1.47 1.9% $2,792,658 $1,348 $1.44 ============ ====== ===== ====== ========== ====== =====
AMLI RESIDENTIAL PROPERTIES TRUST PROPERTY INFORMATION As of March 31, 2001
Qtr ended March 31, 2001 Approx- Average Qtr ended imate Rental Rates March 31, Number Rentable Average ------------- 2001 Year of Area Unit Size Per Per Average PROPERTIES Location Completed Units (Sq Ft) (Sq Ft) Unit Sq Ft Occupancy ---------- -------- --------- ------ --------- --------- ---- ----- ----------- WHOLLY OWNED PROPERTIES ------------ DALLAS/FT. WORTH, TX ---------- Amli: at Autumn Chase Carrollton, TX 87/96/99 690 598,128 867 741 $0.85 91.6% at Bent Tree Dallas, TX 1996 500 481,682 963 868 0.90 90.7% at Bishop's Gate West Plano, TX 1997 266 292,094 1,098 1,003 0.91 89.5% at Chase Oaks Plano, TX 1986 250 193,736 775 711 0.92 95.1% at Gleneagles Dallas, TX 87/97 590 520,357 882 727 0.82 95.1% on the Green Ft. Worth, TX 90/93 424 358,560 846 709 0.84 92.0% at Nantucket Dallas, TX 1986 312 222,208 712 595 0.84 92.4% of North Dallas Dallas, TX 85/86 1,032 906,808 879 706 0.80 94.8% on Rosemeade Dallas, TX 1987 236 205,334 870 688 0.79 89.6% at Valley Ranch Irving, TX 1985 460 389,940 848 744 0.88 94.3% ----- --------- --- ---- ----- ------ Subtotal-Dallas/ Ft. Worth, TX 4,760 4,168,847 876 743 $0.85 93.0% ----- --------- --- ---- ----- ------ ATLANTA, GA ----------- Amli: at Clairmont Atlanta, GA 1988 288 229,335 796 858 1.08 89.4% at Killian Creek Snellville, GA 1999 256 262,785 1,027 839 0.82 96.8% at Park Creek Gainesville, GA 1998 200 195,146 976 797 0.82 95.8% at Spring Creek Dunwoody, GA 85/86/ 87/89 1,180 1,080,568 916 799 0.87 93.4% at Vinings Atlanta, GA 1985 360 374,240 1,040 865 0.83 95.4% at West Paces Atlanta, GA 1992 337 353,700 1,050 941 0.90 89.0% at Towne Creek Gainesville, GA 1989 150 121,722 811 660 0.81 90.4% ------ --------- ----- ---- ----- ------ Subtotal- Atlanta, GA 2,771 2,617,496 945 827 0.88 93.1% ------ --------- ----- ---- ----- ------ Qtr ended March 31, 2001 Approx- Average Qtr ended imate Rental Rates March 31, Number Rentable Average ------------- 2001 Year of Area Unit Size Per Per Average PROPERTIES Location Completed Units (Sq Ft) (Sq Ft) Unit Sq Ft Occupancy ---------- -------- --------- ------ --------- --------- ---- ----- ----------- AUSTIN, TEXAS ------------- Amli: in Great Hills Austin, TX 1985 344 257,984 750 822 1.10 88.4% at Lantana Ridge Austin, TX 1997 354 311,857 881 928 1.05 93.4% at Stonehollow Austin, TX 1997 606 524,660 866 892 1.03 86.8% ----- --------- --- ---- ----- ----- Subtotal- Austin, TX 1,304 1,094,501 839 883 1.05 89.0% ----- --------- --- ---- ----- ----- KANSAS ------ Amli: at Alvamar Lawrence, KS 1989 152 125,800 828 720 0.87 88.2% at Centennial Overland Park, KS 1998 170 204,858 1,205 992 0.82 88.2% at Lexington Farms Overland Park, KS 1998 404 392,693 972 788 0.81 86.2% at Regents Center Overland Park, KS91/95/97 424 398,674 940 753 0.80 87.0% at Town Center Overland Park, KS 1997 156 176,914 1,134 929 0.82 85.7% ----- --------- ----- ----- ----- ----- Subtotal - Kansas 1,306 1,298,939 995 812 0.82 86.9% ----- --------- ----- ----- ----- ----- INDIANAPOLIS, IN ---------------- Amli: at Conner Farms Indianapolis, IN 1993 300 327,396 1,091 855 0.78 89.3% at Eagle Creek Indianapolis, IN 1998 240 233,432 973 799 0.82 92.4% at Riverbend Indianapolis, IN 83/85 996 820,712 824 626 0.76 83.5% ----- --------- ----- ---- ----- ----- Subtotal -Indianapolis, IN 1,536 1,381,540 899 698 0.78 86.0% ----- --------- ----- ---- ----- ----- Qtr ended March 31, 2001 Approx- Average Qtr ended imate Rental Rates March 31, Number Rentable Average ------------- 2001 Year of Area Unit Size Per Per Average PROPERTIES Location Completed Units (Sq Ft) (Sq Ft) Unit Sq Ft Occupancy ---------- -------- --------- ------ --------- --------- ---- ----- ----------- CHICAGO, IL ------------ Amli: at Poplar Creek Schaumburg, IL 1985 196 177,630 906 1,081 1.19 97.6% ----- ---------- ----- ----- ----- ----- Subtotal -Chicago, IL 196 177,630 906 1,081 1.19 97.6% ------ ---------- ----- ----- ----- ----- HOUSTON, TX ----------- AMLI: at Western Ridge Houston, TX 2000 318 289,612 911 818 0.90 90.2% ------ ---------- ----- ----- ----- ----- Subtotal -Houston, TX 318 289,612 911 818 0.90 90.2% ------ ---------- ----- ----- ----- ----- DENVER, CO ---------- AMLI: at Gateway Denver, CO 2000 328 294,926 899 925 1.03 89.6% ------ ---------- ----- ----- ----- ----- Subtotal -Denver, CO 328 294,926 899 925 1.03 89.6% ------ ---------- ----- ----- ----- ----- TOTAL WHOLLY OWNED PROPERTIES 12,519 11,323,491 905 790 0.87 91.0% ====== ========== ===== ===== ===== ===== Qtr ended March 31, 2001 Approx- Average Qtr ended imate Rental Rates March 31, Number Rentable Average ------------- 2001 Year of Area Unit Size Per Per Average PROPERTIES Location Completed Units (Sq Ft) (Sq Ft) Unit Sq Ft Occupancy ---------- -------- --------- ------ --------- --------- ---- ----- ----------- CO-INVESTMENT PROPERTIES -------------- ATLANTA, GA Amli: at Barrett Lakes Cobb County, GA 1997 446 462,368 1,037 886 0.85 96.6% at River Park Norcross, GA 1997 222 226,632 1,021 974 0.95 92.4% at Willeo Creek Rosewell, GA 1989 242 297,302 1,229 897 0.73 96.9% at Northwinds Alpharetta, GA 1999 800 818,432 1,023 938 0.92 93.6% at Park Bridge Alpharetta, GA 2000 352 356,123 1,012 862 0.85 91.8% at Windward Park Alpharetta, GA 1999 328 354,900 1,082 915 0.85 89.7% Lost Mountain Dunwoody, GA 1987 164 157,142 958 787 0.82 96.9% at Peachtree City Dunwoody, GA 1998 312 305,756 980 975 0.99 92.7% ----- --------- ----- ---- ----- ------ Subtotal- Atlanta, GA 2,866 2,978,655 1,039 913 0.88 93.7% ----- --------- ----- ---- ----- ------ CHICAGO, IL ----------- Amli: at Chevy Chase Buffalo Grove, IL 1988 592 480,820 812 1,098 1.35 94.8% at Danada Wheaton, IL 89/91 600 521,499 869 1,034 1.19 97.9% at Fox Valley Aurora, IL 1998 272 269,237 990 987 1.00 94.3% at Willowbrook Willowbrook, IL 1987 488 418,404 857 1,030 1.20 94.5% at Windbrooke Buffalo Grove, IL 1987 236 213,160 903 1,122 1.24 97.1% at St. Charles St. Charles, IL 2000 400 395,896 990 1,148 1.16 88.3% at Oakhurst North Aurora, IL 1998 464 470,094 1,013 992 0.98 92.8% at Osprey Lakes Chicago, IL 1997/1999 483 453,150 938 690 0.74 87.1% ----- ---------- ----- ----- ----- ----- Subtotal- Chicago, IL 3,535 3,222,260 912 1,007 1.10 93.4% ----- ---------- ----- ----- ----- ----- Qtr ended March 31, 2001 Approx- Average Qtr ended imate Rental Rates March 31, Number Rentable Average ------------- 2001 Year of Area Unit Size Per Per Average PROPERTIES Location Completed Units (Sq Ft) (Sq Ft) Unit Sq Ft Occupancy ---------- -------- --------- ------ --------- --------- ---- ----- ----------- EASTERN KANSAS -------------- AMLI: at Regents Crest Overland Park, KS 1997 476 451,328 948 772 0.81 85.8% at Creekside Overland Park, KS 2000 224 182,192 813 811 1.00 92.6% at Wynnewood Overland Park, KS 2000 232 236,058 1,017 930 0.91 87.8% ----- --------- ----- ---- ----- ----- Subtotal - Eastern Kansas 932 869,578 933 821 0.88 87.9% ----- --------- ----- ---- ----- ----- DALLAS/FT. WORTH ---------------- AMLI: at Deerfield Ft. Worth, TX 1999 240 238,972 996 848 0.85 88.8% at Fossil Creek Ft. Worth, TX 1998 384 384,358 1,001 828 0.83 91.7% at Oakbend Lewisville, TX 1997 426 382,690 898 765 0.85 90.6% on the Parkway Dallas, TX 1999 240 225,248 939 876 0.93 86.5% at Prestonwood Hills Dallas, TX 1997 272 245,696 903 843 0.93 92.6% on Timberglen Dallas, TX 1985 260 201,198 774 638 0.82 92.9% at Varandah Arlington, TX 86/91 538 394,304 733 697 0.95 90.0% on Frankford Dallas, TX 1998 582 517,344 889 881 0.99 95.2% at Breckinridge Point Richardson, TX 1999 440 467,934 1,063 907 0.85 89.5% ----- ---------- ----- ---- ----- ----- Subtotal - Dallas/ Ft. Worth, TX 3,382 3,057,744 904 810 0.90 91.2% ----- ---------- ----- ---- ----- ----- AUSTIN, TX ---------- AMLI: at Scofield Ridge Austin, TX 2000 487 433,077 889 946 1.06 87.8% at Monterey Oaks Austin, TX 2000 430 412,759 960 983 1.02 93.5% at Wells Branch Austin, TX 1999 576 554,582 963 918 0.95 81.7% ----- ---------- --- ---- ----- ----- Subtotal - Austin, TX 1,493 1,400,418 938 946 1.01 87.1% ----- ---------- --- ---- ----- ----- Qtr ended March 31, 2001 Approx- Average Qtr ended imate Rental Rates March 31, Number Rentable Average ------------- 2001 Year of Area Unit Size Per Per Average PROPERTIES Location Completed Units (Sq Ft) (Sq Ft) Unit Sq Ft Occupancy --------- -------- --------- ------ --------- --------- ---- ----- ----------- HOUSTON, TX ----------- Amli: at Champions Centre Houston, TX 1994 192 164,480 857 707 0.82 89.5% at Champions Park Houston, TX 1991 246 221,986 902 711 0.79 87.0% at Greenwood ForestHouston, TX 1995 316 310,844 984 759 0.77 89.5% at Towne Square Houston, TX 1999 380 314,292 827 935 1.13 94.6% at Midtown Houston, TX 1998 419 368,818 880 1,018 1.16 97.2% ------ ---------- --- ---- ----- ----- Subtotal- Houston, TX 1,553 1,380,420 889 858 0.96 92.4% ------ ---------- ---- ---- ----- ----- INDIANAPOLIS, IN ---------------- AMLI: at Lake Clearwater Indianapolis, IN 1999 216 218,006 1,009 900 0.89 94.2% at Castle Creek Indianapolis, IN 2001 276 269,904 978 869 0.89 88.0% on Spring Mill Carmel, IN 1999 400 406,640 1,017 849 0.83 77.4% ----- --------- ----- ----- ----- ------ Subtotal- Indianapolis, IN 892 894,550 1,003 867 0.86 84.7% ----- --------- ----- ----- ----- ------ DENVER, CO ---------- AMLI: at Lowry Estates Denver, CO 2000 414 392,208 947 1,155 1.22 87.4% ----- --------- ----- ----- ----- ----- Subtotal- Denver, CO 414 392,208 947 1,155 1.22 87.4% ----- --------- ----- ----- ----- ------ TOTAL CO-INVESTMENT PROPERTIES 15,067 14,195,833 942 908 0.96 91.2% ====== ========== === ==== ===== ===== TOTAL WHOLLY OWNED AND CO-INVESTMENT PROPERTIES 27,586 25,519,324 925 854 0.92 91.1% ====== ========== === ==== ===== =====
AMLI RESIDENTIAL PROPERTIES TRUST COMPONENTS OF PROPERTY EBITDA
WHOLLY-OWNED CO-INVESTMENTS AT 100% COMBINED AT 100% ---------------------------- -------------------------- -------------------------- THREE MONTHS ENDED THREE MONTHS ENDED THREE MONTHS ENDED MARCH 31, MARCH 31, MARCH 31, ---------------------------- -------------------------- -------------------------- % % % 2001 2000 Change 2001 2000 Change 2001 2000 Change ------- ------- ------ ------- ------- ------ ------- ------- ------- PROPERTY REVENUES ----------------- RENTAL INCOME ------------- Same Store Communities (1) . . .$23,342 22,561 3.5% 20,371 20,155 1.1% 43,713 42,716 2.3% New Communities (2). . 472 111 324.9% 5,895 1,804 226.9% 6,368 1,915 232.5% Development and/ or Lease-up Communities (3) . . . 0 0 2,168 115 2,168 115 Acquisition Communities (4) . . . 2,951 1,096 8,914 1,826 11,864 2,921 Communities Sold/ Contributed to Ventures (5). . . . . 0 2,506 846 1,296 846 3,803 ------- ------- ------- ------- ------- ------- ------- ------- ------- Total . . . . . . .$26,765 26,274 1.9% 38,193 25,195 51.6% 64,958 51,469 26.2% ======= ======= ======= ======= ======= ======= ======= ======= ======= OTHER REVENUES -------------- Same Store Communities . . . . .$ 1,360 1,308 4.0% 1,145 1,216 -5.8% 2,505 2,524 -0.8% New Communities. . . . 21 12 79.2% 395 190 107.5% 416 202 105.9% Development and/ or Lease-up Communities . . . . . 0 0 158 15 158 15 Acquisition Communities . . . . . 191 52 516 117 706 169 Communities Sold/ Contributed to Ventures. . . . . . . 0 165 63 62 63 226 ------- ------- ------- ------- ------- ------- ------- ------- ------- Total . . . . . . .$ 1,571 1,537 2.3% 2,277 1,601 42.2% 3,848 3,137 22.6% ======= ======= ======= ======= ======= ======= ======= ======= ======= AMLI RESIDENTIAL PROPERTIES TRUST COMPONENTS OF PROPERTY EBITDA - CONTINUED WHOLLY-OWNED CO-INVESTMENTS AT 100% COMBINED AT 100% ---------------------------- -------------------------- -------------------------- THREE MONTHS ENDED THREE MONTHS ENDED THREE MONTHS ENDED MARCH 31, MARCH 31, MARCH 31, ---------------------------- -------------------------- -------------------------- % % % 2001 2000 Change 2001 2000 Change 2001 2000 Change ------- ------- ------ ------- ------- ------ ------- ------- ------- TOTAL PROPERTY REVENUES --------------- Same Store Communities . . . . .$24,702 23,869 3.5% 21,516 21,371 0.7% 46,218 45,240 2.2% New Communities. . . . 493 123 301.6% 6,290 1,994 215.5% 6,783 2,117 220.5% Development and/ or Lease-up Communities . . . . . 0 0 2,326 130 2,326 130 Acquisition Communities . . . . . 3,141 1,148 9,429 1,943 12,571 3,091 Communities Sold/Contri- buted to Ventures . . 0 2,671 908 1,358 908 4,029 ------- ------- ------- ------- ------- ------- ------- ------- ------- Total . . . . . . .$28,337 27,811 1.9% 40,470 26,796 51.0% 68,806 54,607 26.0% ======= ======= ======= ======= ======= ======= ======= ======= ======= Company's share of Co-investment total revenues . . . . . . . 12,939 7,878 ======= ======= TOTAL OPERATING EXPENSES --------------- Same Store Communities . . . . .$ 9,386 9,078 3.4% 8,123 7,869 3.2% 17,509 16,947 3.3% New Communities. . . . 187 87 114.7% 2,226 1,353 64.5% 2,413 1,440 67.6% Development and/ or Lease-up Communities . . . . . 0 0 1,161 122 1,161 122 Acquisition Communities . . . . . 1,232 401 3,611 735 4,843 1,135 Communities Sold/Contri- buted to Ventures . . 12 972 265 501 277 1,473 ------- ------- ------- ------- ------- ------- ------- ------- ------- Total . . . . . . .$10,817 10,538 2.6% 15,387 10,580 45.4% 26,203 21,118 24.1% ======= ======= ======= ======= ======= ======= ======= ======= ======= Company's share of Co-investment total operating expenses . . 4,626 3,032 52.6% ======= ======= ======= AMLI RESIDENTIAL PROPERTIES TRUST COMPONENTS OF PROPERTY EBITDA - CONTINUED WHOLLY-OWNED CO-INVESTMENTS AT 100% COMBINED AT 100% ---------------------------- -------------------------- -------------------------- THREE MONTHS ENDED THREE MONTHS ENDED THREE MONTHS ENDED MARCH 31, MARCH 31, MARCH 31, ---------------------------- -------------------------- -------------------------- % % % 2001 2000 Change 2001 2000 Change 2001 2000 Change ------- ------- ------ ------- ------- ------ ------- ------- ------- PROPERTY EBITDA --------------- Same Store Communities . . . . .$15,316 14,790 3.6% 13,393 13,502 -0.8% 28,709 28,292 1.5% New Communities. . . . 306 36 757.0% 4,064 641 534.2% 4,370 676 546.0% Development and/ or Lease-up Communities . . . . . 0 0 1,166 9 1,166 9 Acquisition Communities . . . . . 1,909 747 5,819 1,208 7,728 1,956 Communities Sold/ Contributed to Ventures. . . . . . . -13 1,699 643 857 630 2,556 ------- ------- ------- ------- ------- ------- ------- ------- ------- Total . . . . . . .$17,519 17,273 1.4% 25,084 16,216 54.7% 42,604 33,489 27.2% ======= ======= ======= ======= ======= ======= ======= ======= ======= Company's share of Co-investment EBITDA (incl. share of cash flow in excess of ownership %) . . . . . 8,740 5,036 73.5% 8,740 5,036 73.5% ======= ======= ======= ======= ======= ======= Percent of Co-investment EBITDA . . . . . . . . 35% 31% 12.2% 21% 15% ======= ======= ======= ======= (1) Stabilized Communities at 1/1/00. (2) Development Communities stabilized after 1/1/00 but before 1/1/01. (3) Development Communities not yet stabilized. (4) Stabilized Communities acquired after 1/1/00. (5) Communities sold or contributed to co-investment ventures.
AMLI RESIDENTIAL PROPERTIES TRUST DEVELOPMENT ACTIVITIES First Quarter 2001
Construc- Percent Percent tion First Comple- Stabili- Construc- Leased Community Number Costs Percent Start Units tion zation tion as of Name of Units (millions) Ownership Date Occupied Date Date Complete 4/22/01 ---------- -------- ---------- --------- --------- -------- ------- -------- --------- -------- Under Construc- tion and/or In Initial Lease Up ---------------- ATLANTA, GEORGIA ---------------- AMLI at Mill Creek 400 $ 27.1 25% 3Q/99 3Q/00 3Q/01 2Q/02 86% 33% at Milton Park 461 $ 34.7 25% 4Q/00 4Q/01 4Q/02 2Q/03 4% N/A at Peachtree City Phase II 216 $ 20.2 20% 3Q/00 3Q/01 1Q/02 2Q/02 16% N/A HOUSTON, TEXAS -------------- AMLI at Kings Harbour 300 $ 19.8 25% 2Q/00 1Q/01 3Q/01 2Q/02 76% 8% OVERLAND PARK, KANSAS -------------- AMLI at Cambridge Square 408 $ 32.2 30% 3Q/00 3Q/01 2Q/02 1Q/03 17% N/A LEE'S SUMMIT, MISSOURI ------------- AMLI at Summit Ridge 432 $ 29.3 25% 2Q/99 2Q/00 4Q/00 1Q/02 100% 72% ----- ------ TOTAL 2,217 $163.3 ===== ======
AMLI RESIDENTIAL PROPERTIES TRUST DEVELOPMENT ACTIVITIES (continued) PLANNING STAGES Number Community Name of Units -------------- ---------- INDIANAPOLIS, IN ---------------- AMLI at Prairie Lakes 228 at Prairie Lakes (phases II-IV) 1,100 at Carmel Center 322 WOODRIDGE, IL ------------- AMLI at Seven Bridges 520 AUSTIN, TX ---------- AMLI at Anderson Mill 520 Downtown Austin - Block 20 220 Parmer Park 480 DALLAS/FT WORTH, TX ------------------- AMLI at Mesa Ridge (Fossil Creek II) 520 Fossil Lake 324 Fossil Creek IV-A 240 at Vista Ridge 340 HOUSTON, TX ----------- AMLI at Champions II 288 OVERLAND PARK, KS ----------------- AMLI at Westwood Ridge 428 The following is a "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. The projections contained in the table above that are not historical facts are forward-looking statements. Risks associated with the Company's development, construction and lease-up activities, which could impact the forward-looking statements may include: development opportunities may be abandoned; construction costs of a community may exceed original estimates, possibly making the community uneconomical; construction and lease-up may not be completed on schedule, resulting in increased debt service and construction costs; estimates of the costs of improvements to bring an acquired property up to the standards established for the market position intended for that property may prove inaccurate. 1535: