Business Context and Reporting Period
This Form 8-K was filed by Inland American Real Estate Trust, Inc. on November 4, 2005, reporting events occurring on November 1 and November 2, 2005. The filing details property acquisitions made by the registrant's joint venture partner, Minto Builders (Florida), Inc. (MB REIT), in the Houston and Conroe, Texas areas.
Key Financial Metrics and Transaction Details
The filing reports four distinct property acquisitions totaling approximately $41.1 million in cash purchase price. No consolidated revenue, profit, cash flow, or debt metrics for the registrant are provided in this specific report.
| Property Name | Location | Acquisition Date | Purchase Price | Size (GLSF) |
|---|---|---|---|---|
| Windemere Village | Houston, TX | Nov 1, 2005 | $8.8 million | 25,200 |
| Eldridge Town Center | Houston, TX | Nov 2, 2005 | $21.5 million | 71,778 |
| NTB Eldridge | Houston, TX | Nov 2, 2005 | $1.0 million | Ground lease |
| McKesson Distribution Center | Conroe, TX | Nov 2, 2005 | $9.8 million | 161,600 |
Material Changes
The primary material change reported is the expansion of the joint venture's portfolio through the acquisition of retail and industrial assets. The filing does not provide comparative financial data against prior periods.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or specific risk factors beyond the disclosure of the transactions themselves. All properties were purchased from unaffiliated third parties for cash.
Investor Verification Checklist
- Verify the ownership structure and financial impact of the joint venture with Minto Builders (Florida), Inc. on Inland American's consolidated statements.
- Confirm the occupancy rates and lease terms for the newly acquired Windemere Village and Eldridge Town Center retail centers.
- Assess the specific terms of the ground lease for the NTB Eldridge property.
- Review the lease agreement details for the McKesson Distribution Center to understand tenant concentration risk.
- Check subsequent filings for the capitalization method used to fund these $41.1 million in cash acquisitions.