| Ticker: AMRE | 2221 Rosecrans Avenue, Suite 110 | |
| Exchange: NASDAQ-National Market | El Segundo, California 90245 | |
| Industry: Financial | (310) 536-0926 |
| Type of Shares: | Common Shares | Filing Date: | 10/31/95 | |
| U.S. Shares: | 2,142,858 | Offer Date: | 6/20/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $7.00 | |
| Primary Shares: | 2,142,858 | Offer Price: | $7.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.53 | |
| Offering Amount: | $15,000,006 | Selling: | $0.49 | |
| Expenses: | $900,000 | Reallowance: | $0.26 | |
| Shares Out After: | 5,274,714 |
| Manager | Tier | Phone |
| Brookstreet Securities Corp | Lead Manager | (714) 852-6800 |
| Auditor: BDO Seidman | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $2.48 | Assets: | $16.34 | ||
| Net Income: | $0.08 | Liabilities: | $3.00 | ||
| EPS: | $0.02 | Equity: | $13.34 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company has been formed to operate as a real estate investment trust under the Internal Revenue Code of 1986, as amended and will be self-administered. The company proposes to acquire a diversified portfolio of garden style apartments and suburban commercial and retail income properties in the Western United States. The Properties will be leased to a variety of residential, retail and commercial tenants. The company will contribute all of the net proceeds from the Offering to American Equity Trust Operating Partnership, L.P., a Delaware limited partnership, in which the company is the sole general partner, and will own an initial 99% interest in the Operating Partnership. |
| Use of Proceeds |
| The proceeds from the offering will be used to purchase real estate and to pay all of the company's expenses. |
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