SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 13, 2001
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UNITED DOMINION REALTY TRUST, INC.
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(Exact name of registrant as specified in its charter)
Virginia 1-10524 54-0857512
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(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation of organization) Identification No.)
400 East Cary Street, Richmond, Virginia 23219
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(Address of principal executive offices - zip code)
(804) 780-2691
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Registrant's telephone number, including area code
10 South Sixth Street, Richmond, Virginia 23219
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(Former address, if changed since last report)
ITEM 5. OTHER EVENTS
On February 13, 2001, United Dominion Realty Trust, Inc. ("United Dominion"),
the registrant, issued a Press Release announcing Thomas W. Toomey as the new
President and CEO of United Dominion. The following is a summary of United
Dominion Realty Trusts, Inc.'s Press Release:
UNITED DOMINION REALTY TRUST NAMES THOMAS W. TOOMEY
PRESIDENT AND CHIEF EXECUTIVE OFFICER
RICHMOND, Virginia February 13, 2001, United Dominion Realty Trust, Inc. (NYSE:
UDR) today announced that Thomas W. Toomey has been named President, Chief
Executive Officer and a Director of the Company, effective February 13, 2001.
Mr. Toomey, 40, had been Chief Operating Officer of Apartment Investment
Management Company, where he was responsible for the operation of approximately
1,800 properties located in 47 states, the District of Columbia and Puerto Rico,
including over 325,000 apartment units serving approximately one million
residents. In addition, he was responsible for AIMCO's accounting service
centers, information services and human resources departments. Before becoming
Chief Operating Officer, Mr. Toomey was Executive Vice President - Finance
Administration with responsibilities for finance, accounting and computer
systems. Prior to joining AIMCO in 1996, he was Senior Vice President and
Treasurer with Lincoln Property Company from 1990 to 1995, and an Audit Manager
with Arthur Andersen & Co. from 1984 to 1990.
John P. McCann, Chairman, said, "I am pleased to turn over leadership of United
Dominion to Tom Toomey. Tom's experience is highly complementary with our
operations and culture. He has operated a national portfolio of middle market
apartment properties that is much larger than United Dominion's, has extensive
financial experience and possesses outstanding skills in team building and
people development. Tom's industry expertise, management experience, leadership
qualities and strategic vision are a perfect fit with United Dominion."
James D. Klingbeil, Vice Chairman, who chaired the CEO search committee, said,
"United Dominion's competitive strengths and growth opportunities attracted
considerable high-level executive interest. Tom Toomey is our first and our
ideal choice -- a proven, effective leader in our industry who shares our
commitment to building operational excellence, profitable growth and shareholder
value."
Mr. Toomey said, "I am delighted to have the opportunity to lead United
Dominion. The Company has undergone significant change in recent years building
a substantial $4 billion national portfolio. I look forward to working with the
Company's management and Board in further strengthening operations, enhancing
the Company's financial position and driving growth to the bottom line. Our
clear objective is for United Dominion to be an even more profitable company
consistently producing increased earnings by successfully pursuing attractive
opportunities that benefit our residents, employees and shareholders."
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Conference Call Information
A conference call with John McCann and Tom Toomey will be held on Wednesday,
February 14, at 11:30 am Eastern Standard Time (EST). There will be a question
and answer period during the call. To participate, dial 1-877-817-7170 or 1-703-
871-3619. A replay of the conference call will be available through 12:00
midnight EST on Wednesday, February 21, 2001. To hear the replay, please call 1-
888-266-2086 or 1-703-925-2435, Access Code: 4997972. The call can also be heard
via webcast at www.udrt.com or www.streetevents.com.
About United Dominion Realty Trust, Inc.
United Dominion is one of the country's largest multifamily real estate
investment trusts owning and operating apartment communities nationwide. The
Company currently owns all or an interest in approximately 78,000 apartment
homes and is the developer for approximately 1,900 homes under construction.
United Dominion's common stock is traded on the New York Stock Exchange under
the symbol UDR. Additional information about United Dominion may be found on
its web site at www.udrt.com.
In addition to historical information, this press release contains forward-
looking statements. The statements are based on current expectations, estimates
and projections about the industry and markets in which United Dominion
operates, as well as management's beliefs and assumptions. Forward-looking
statements are not guarantees of future performance and involve certain risks
and uncertainties, which may cause the company's actual results, performance,
achievements pursuant to its disposition programs and its other activities to be
materially different from the results, plans or expectations expressed or
implied by such statements. For more details, please refer to the company's SEC
filings, including its most recent annual report on Form 10-K and quarterly
reports on Form 10-Q.
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Signatures
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
UNITED DOMINION REALTY TRUST, INC.
Date: February 16, 2001 /s/ A. William Hamill
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A. William Hamill
Executive Vice President and
Chief Financial Officer
Date: February 16, 2001 /s/ Scott A. Shanaberger
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Scott A. Shanberger
Vice President and
Chief Accounting Officer
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