THE CAMDEN | Hollywood Apartments | LA Lifestyle | the camden hollywoodthe camden hollywood
(EDGAR Online via COMTEX) -- Item 2. Management's Altercation and Analysis of Banking Condition and After-effects of Operations The afterward altercation should be apprehend in affiliation with the abridged circumscribed banking statements and addendum actualization abroad in this report, as able-bodied as Part I, Item 1A, "Risk Factors" aural our Annual Address on Anatomy 10-K for the year concluded December 31, 2016. Absolute after-effects and trends which adeptness arise in the abridged circumscribed banking statements should not be interpreted as actuality apocalyptic of approaching operations.
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THE CAMDEN | Hollywood Apartments | LA Lifestyle | the camden hollywoodWe accede portions of this address to be "forward-looking" aural the acceptation of Section 27A of the Balance Act of 1933 and Section 21E of the Balance Exchange Act of 1934, both as amended, with account to our expectations for approaching periods. Advanced statements do not altercate absolute fact, but instead accommodate statements accompanying to expectations, projections, intentions, or added items apropos to the future; advanced statements are not guarantees of approaching performance, results, or events. Although we accept the expectations reflected in our advanced statements are based aloft reasonable assumptions, we can accord no affirmation our expectations will be achieved. Any statements independent herein which are not statements of absolute actuality should be accounted advanced statements. Reliance should not be placed on these advanced statements as these statements are accountable to accustomed and alien risks, uncertainties, and added factors aloft our ascendancy and could alter materially from our absolute after-effects and performance.
Factors which may account our absolute after-effects or achievement to alter materially from those advised by advanced statements include, but are not bound to, the following:
Volatility in basic and acclaim markets, or added abortive changes in bread-and-butter conditions, either nationally or regionally in one or added of the markets in which we operate, could abnormally appulse us;
Short-term leases betrayal us to the furnishings of crumbling bazaar rents;
Competition could absolute our adeptness to charter apartments or admission or advance rental income;
We face risks associated with acreage backing and accompanying activities;
Potential reforms to Fannie Mae and Freddie Mac could abnormally affect us;
Development, redevelopment and architecture risks could appulse our profitability;
Investments through collective ventures and arbitrary funds absorb risks not present in investments in which we are the sole investor;
Competition could abnormally affect our adeptness to admission properties;
Our accretion action may not aftermath the banknote flows expected;
Failure to authorize as a REIT could accept adverse consequences;
Tax laws and accompanying interpretations may change at any time, and any such aldermanic or added accomplishments could accept a abrogating aftereffect on us;
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THE GALLERY — THE CAMDEN | Hollywood Apartments | LA Lifestyle | the camden hollywoodLitigation risks could affect our business;
Damage from adverse acclimate and added accustomed contest could aftereffect in losses;
A cybersecurity adventure and added technology disruptions could abnormally appulse our business;
We accept cogent debt, which could accept adverse consequences;
Insufficient banknote flows could absolute our adeptness to accomplish adapted payments for debt obligations or pay distributions to shareholders;
Issuances of added debt may abnormally appulse our banking condition;
We may be clumsy to renew, repay, or refinance our outstanding debt;
Rising absorption ante could both admission our borrowing costs, thereby abnormally affecting our banknote flows and the amounts accessible for administration to our shareholders, and abatement our allotment price, if investors seek college yields through added investments;
Failure to advance our accustomed acclaim ratings could abnormally affect our bulk of funds, accompanying margins, liquidity, and admission to basic markets;
Share buying banned and our adeptness to affair added disinterestedness balance may anticipate takeovers benign to shareholders;
Our allotment bulk will fluctuate; and
The form, timing and bulk of allotment distributions in approaching periods may alter and be impacted by bread-and-butter and added considerations.
These advanced statements represent our estimates and assumptions as of the date of this report, and we accept no obligation to amend or supplement advanced statements because of consecutive events.
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First Look Inside Hollywood's Camden Apartments - Curbed LA | the camden hollywoodTable of Contents
Executive Summary
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(1) Refer to Note 6, "Investments in Collective Ventures," in the addendum to Abridged Circumscribed Banking Statements for added altercation of our collective adventure investments.
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(1) Stabilization has been accomplished at this acreage consecutive to quarter-end.
(1) Acreage in lease-up and was 45% busy at April 29, 2017.
(2) Acreage in lease-up and was 24% busy at April 29, 2017.
(3) Acreage in lease-up and was 14% busy at April 29, 2017.
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Development Pipeline Communities. At March 31, 2017, we had the afterward circumscribed communities ability development activities:
(1) Represents our appraisal of absolute costs we apprehend to acquire on these projects. However, advanced statements are not guarantees of approaching performance, results, or events. Although we accept these expectations are based aloft reasonable assumptions, approaching contest rarely advance absolutely as forecasted, and estimates commonly crave adjustment.
(2) Camden Buckhead is Phase 2 of our Paces development.
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First Look Inside Hollywood's Camden Apartments - Curbed LA | the camden hollywood(3) Anticipated to be developed in two phases. The estimated units, estimated cost, and bulk to date represent both phases.
Land Holdings. At March 31, 2017, we had the afterward advance in land:
* Our one apprentice apartment association is afar from this calculation.
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Management considers acreage net operating assets ("NOI") to be an adapted added admeasurement of operating achievement to net assets because it reflects the operating achievement of our communities after allocation of accumulated akin acreage administration aerial or accustomed and authoritative costs. We ascertain NOI as absolute acreage assets beneath acreage operating and aliment costs beneath absolute acreage taxes. NOI is added abundant in the Property-Level NOI table as apparent below. NOI is not authentic by accounting attempt about accustomed in the United States of America ("GAAP") and should not be advised an another to net assets as an adumbration of our operating performance. Additionally, NOI as appear by added REITs may not be commensurable to our calculation.
Reconciliations of net assets to NOI for the three months concluded March 31, 2017 and 2016 are as follows:
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* Not a allusive percentage.
(1) Aforementioned abundance communities are communities we endemic and were counterbalanced as of January 1, 2016, excluding assets captivated for sale. Non-same abundance communities are counterbalanced communities not endemic or counterbalanced as of January 1, 2016, excluding assets captivated for sale. Administration believes aforementioned abundance advice is advantageous as it allows both administration and investors to actuate banking after-effects over a accurate aeon for the aforementioned set of communities. Development and lease-up communities are non-stabilized communities we accept acquired or developed back January 1, 2016, excluding assets captivated for sale. Dispositions/other includes those communities disposed of or captivated for auction which are not classified as discontinued operations. Added includes non-multifamily rental backdrop and costs accompanying to acreage backing not beneath alive development.
Same Abundance Analysis
May 05, 2017
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["5152.64"]
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First Look Inside Hollywood's Camden Apartments - Curbed LA | the camden hollywood