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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: December 31, 1997
(Date of earliest event reported)
AMB PROPERTY CORPORATION
(Exact name of registrant as specified in its charter)
MARYLAND COMMISSION FILE: 94-3281941
(State or other jurisdiction 1-13545 (I.R.S. Employer
of incorporation or Identification No.)
organization)
505 MONTGOMERY STREET
FIFTH FLOOR
SAN FRANCISCO, CALIFORNIA 94111
(Address of principal executive offices, including zip code)
(415) 394-9000
(Registrant's telephone number, including area code)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
On December 31, 1997, AMB Property Corporation (the "Company")
acquired a national industrial portfolio of 36 warehouse buildings, comprising
an aggregate of approximately 5.5 million square feet, at a purchase price of
$215 million, based on arm's length negotiations, plus related closing costs and
expenses. The properties were acquired from CP Institutional Partners I, Inc.,
an unaffiliated third party, as announced in a press release dated January 6,
1998, which press release is filed herewith as Exhibit 99.1 and incorporated
herein by this reference. The acquisition was financed by $65 million of
proceeds from the Company's initial public offering completed on November 26,
1997, and $150 million of borrowings under the Company's unsecured revolving
credit facility with a bank group led by Morgan Guaranty Trust Company of New
York. A description of the assets acquired was previously reported in the
Company's Registration Statement on Form S-11, as amended, declared effective by
the Securities and Exchange Commission on November 20, 1997.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired.
Previously reported in the Company's Registration Statement on
Form S-11, as amended, declared effective by the Securities and
Exchange Commission on November 20, 1997.
(b) Pro forma financial information.
Previously reported in the Company's Registration Statement on
Form S-11, as amended, declared effective by the Securities and
Exchange Commission on November 20, 1997.
(c) Exhibits.
Exhibit
No. Description
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99.1 Press Release dated January 6, 1998
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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.
AMB PROPERTY CORPORATION
Date: January 13, 1998 By: /s/ S. DAVIS CARNIGLIA
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S. Davis Carniglia
Managing Director, Vice President, Chief
Financial Officer, General Counsel and
Secretary
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EXHIBIT INDEX
SEQUENTIALLY
EXHIBIT NUMBERED
NO. DESCRIPTION PAGE
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99.1 Press Release dated January 6, 1998