Business Context and Reporting Period
Company: Western Alliance Bancorporation
Filing Type: Form 8-K (Current Report)
Date of Report: September 15, 2005
Event: Entry into a Material Definitive Agreement regarding the purchase of corporate headquarters.
Key Financial Metrics
This filing reports a specific capital expenditure transaction rather than periodic financial performance. No revenue, profit, cash flow, margin, debt, or liquidity metrics are disclosed in this document.
- Transaction Type: Real Estate Purchase Agreement
- Asset: Corporate headquarters building at 2700 West Sahara Avenue, Las Vegas, Nevada
- Purchase Price: $16,300,000
- Deposit Paid: $100,000 (refundable)
- Buyer: BankWest of Nevada (wholly owned subsidiary)
- Seller: GRS Sahara Avenue Corp.
Material Changes
The filing discloses a material change in the Company's asset base through the agreement to purchase its current leased headquarters. The filing text does not provide comparative financial data or prior period metrics to quantify changes in revenue or profitability.
Outlook, Risks, and Contingencies
Timeline: The Bank expects to close the purchase before the end of 2005, assuming satisfactory completion of due diligence.
Contingencies: The $100,000 deposit is refundable if due diligence is not completed satisfactorily by October 5, 2005.
Risks: The transaction is subject to the successful completion of due diligence procedures.
Investor Verification Checklist
- Verify the final closing date of the transaction (expected before year-end 2005).
- Confirm the source of funding for the $16.3 million purchase price in subsequent financial reports.
- Review the due diligence results to ensure the transaction proceeds as planned.
- Check for any amendments to the Real Estate Purchase Agreement (Exhibit 10.1).