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Exhibit Index on Page 4
As filed with the Securities and Exchange Commission on July 2, 1998
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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) JUNE 18, 1998
Commission File Number: 1-6064
ALEXANDER'S, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 51-0100517
(State or other jurisdiction of incorporation) (I.R.S. Employer
Identification Number)
PARK 80 WEST, PLAZA II, SADDLE BROOK, NEW JERSEY 07663
(Address of principal executive offices) (Zip Code)
(201)587-8541
(Registrant's telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
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ITEM 1. NOT APPLICABLE.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On June 18, 1998, Alexander's, Inc. ("Alexander's") increased
its interest in the Kings Plaza Mall (the "Mall") to 100% by acquiring
Federated Department Store's 50% interest. The purchase price was
approximately $28,000,000, which was paid in cash. Alexander's has
owned a 50% interest in the Mall since it was built in 1970.
The two-level Mall contains approximately 430,000 square feet
and is part of the Kings Plaza Shopping Center (the "Center"). The
Center, which contains approximately 1.1 million square feet of retail
space and a five-level parking structure, is located at the
intersection of Flatbush Avenue and Avenue U in Brooklyn, NY. In
addition to owning the Mall, Alexander's owns one of the Center's
anchor stores, which is principally leased to Sears. The other anchor
store is owned by Federated and operated as a Macy's department store.
In connection with the acquisition and to fund the purchase
price, Alexander's has completed a $90 million three-year mortgage loan
with Union Bank of Switzerland. The loan is secured by the Kings Plaza
Mall and the Alexander's anchor store and bears interest at LIBOR plus
1.25%. In addition, Alexander's expects to complete a $30 million
construction loan with the Union Bank of Switzerland, of which
approximately $15 million will be advanced in the future to partially
fund a renovation of the Mall, as will approximately $15 million for
the refurbishment of the Macy's store.
These transactions were arrived at through arms-length
negotiations.
ITEM 3-6. NOT APPLICABLE.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(a) The required financial statements will be filed on Form 8-K/A
as soon as practicable, but in any event within 60 days after
the required filing date of this Current Report on Form 8-K.
(b) The required pro forma financial information will be filed on
Form 8-K/A as soon as practicable, but in any event within 60
days after the required filing date of this Current Report on
Form 8-K.
Exhibit No. Exhibit
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2.1 Agreement of Purchase and Sale, dated June 18,
1998, amongst Kings Plaza Shopping Center of
Avenue U, Inc. and Garage Park Corp., as sellers,
and Alexander's Department Stores of Brooklyn, Inc.
and Admo Realty Corp., as purchasers.
99.1 Press Release, dated June 18, 1998, of Alexander's,
Inc.
ITEMS 8-9. Not Applicable.
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ALEXANDER'S, INC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
ALEXANDER'S, INC.
(Registrant)
Date: July 2, 1998 /s/ Joseph Macnow
------------------------------------
JOSEPH MACNOW
Vice President-Chief Financial
Officer and Chief Accounting Officer
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INDEX TO EXHIBITS
EXHIBIT NO: EXHIBIT
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2.1 Agreement of Purchase and Sale, dated June 18, 1998, amongst
Kings Plaza Shopping Center of Avenue U, Inc. and Garage Park
Corp., as sellers, and Alexander's Department Stores of
Brooklyn, Inc. and Admo Realty Corp., as purchasers.
99.1 Press Release, dated June 18, 1998, of Alexander's,
Inc.
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