| AMB Property Corporation | |||
| Ticker: | AMB | 505 Montgomery Street | |
| Exchange: | New York Stock Exchange | San Francisco, CA 94111 | |
| Industry: | Financial (SIC Code 6798) | ||
| Type of Shares: | Common Shares | Filing Date: | 9/18/97 | |
| U.S. Shares: | 14,000,000 | Offer Date: | 11/20/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $20.00 - $22.00 | |
| Primary Shares: | 14,000,000 | Offer Price: | $21.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.31 | |
| Offering Amount: | $294,000,000 | Selling: | $0.83 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Morgan Stanley Dean Witter Discover & Co. | Lead Manager | (212) 761-5900 |
| BT Alex Brown | Co-manager | (410) 727-1700 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Issuer's Law Firm: | Latham & Watkins |
| Bank's Law Firm: | Gibson, Dunn & Crutcher |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 6/30/97 | 6/30/96 | 6/30/97 | ||
| Revenue: | $176.23 | $115.41 | $82.56 | Assets: | $1,759.15 |
| Net Income: | $59.60 | $36.05 | $27.69 | Curr Assets: | |
| EPS: | Liabilities: | $639.69 | |||
| Prior EPS: | $52.01 | $40.59 | Curr Liabilities: | ||
| Cash Flow/Oper: | $96.72 | $20.91 | $67.71 | Equity: | $1,119.47 |
| Cash Flow/Fin: | $398.81 | -$74.63 | -$189.32 | Cash: | $31.42 |
| Cash Flow/Inv: | -$572.88 | -$74.63 | |||
| Business Description |
| The company is a real estate investment trust, (REIT). The company has been formed to continue and grow AMB's business of acquiring and operating industrial properties and community shopping centers in target markets nationwide. The company was founded in 1983 by Douglas D. Abbey, Hamid R. Moghadam and T. Robert Burke, and in 14 years has grown to become a leading real estate investment manager with $2.6 billion under management for over 70 well-recognized institutional investors. Since its inception, AMB has acquired on behalf of its clients over 160 properties representing an aggregate investment of approximately $3 billion and encompassing over 57 million rentable square feet. The Company is led by Mr. Moghadam, its Chief Executive Officer. Messrs. Abbey and Burke also play active roles in the Company's operations as the Chairman of its Investment Committee and the Chairman of its Board of Directors, respectively. The Company's 10 Executive Officers have an average of 22 years of experience in the real estate industry and have worked together for an average of nine years building the AMB real estate business. The Company employs 104 individuals, 88 of whom are located at its San Francisco headquarters and 16 of whom are located in its Boston office. |
| Business Plan |
| The company intends to achieve its growth objectives of long-term sustainable growth in Funds from Operations per share and maximization of long-term stockholder value, principally through the following: (I) Growth Through Operations, (ii) Growth Through Acquisitions and (iii) Growth Through Renovation. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness, acquire interests in Properties from certain investors in the Formation Transactions and for general corporate purposes and working capital. |