| Great Lakes REIT, Inc. | |||
| Ticker: | GL | 823 Commerce Drive, Suite 300 | |
| Exchange: | New York Stock Exchange | Oak Brook, IL 60521 | |
| Industry: | Financial (SIC Code 6798) | (630) 368-2900 | |
| Type of Shares: | Common Shares | Filing Date: | 2/28/97 | |
| U.S. Shares: | 5,700,000 | Offer Date: | 5/8/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.50 - $16.50 | |
| Primary Shares: | 5,700,000 | Offer Price: | $15.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.00 | |
| Offering Amount: | $88,350,000 | Selling: | $0.60 | |
| Expenses: | $1,600,000 | Reallowance: | $0.10 | |
| Shares Out After: | 14,662,090 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| A.G. Edwards & Sons, Inc. | Co-manager | (314) 955-3039 |
| Everen Securities, Inc. | Co-manager | (312) 574-6859 |
| Smith Barney Inc. | Co-manager | (212) 723-7300 |
| Issuer's Law Firm: | Jones, Day, Reavis & Pogue |
| Bank's Law Firm: | Rogers & Wells |
| Auditor: | Ernst & Young |
| Registrar/Transfer Agent: | Gemisys Corporation |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $25.23 | Assets: | $192.90 | ||
| Net Income: | $6.60 | Curr Assets: | |||
| EPS: | $1.11 | Liabilities: | $97.55 | ||
| Prior EPS: | $0.88 | Curr Liabilities: | |||
| Cash Flow/Oper: | Equity: | $95.34 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a fully integrated, self-administered an self-managed real estate company focused on acquiring, renovating, owning and operating suburban office properties located within an approx. 500-mile radius of metropolitan Chicago. The company currently owns and operates 27 properties in suburban Chicago, Milwaukee, Minneapolis, Detroit, Columbus and Cincinnati. The Properties contain approximately 2.8 million rentable square feet leased to approximately 320 tenants. As of December 31, 1996, the Properties had a weighted average occupancy rate of approximately 92%. The company believes that it is one of the largest REIT owners of suburban office space in the MidWest Region. Its five executive officers have an average of 17 years of experience in the real estate industry. The Company, which has elected to be treated for federal income tax purposes as a real estate investment trust, is a reporting company under the Securities Exchange Act of 1934. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of certain outstanding indebtedness, working capital and general corporate purposes. |