VIVMARK RESIDENTIAL
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows for the
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $(261,959) | $890,614 |
| Depreciation | 1,364,056 | 679,989 |
| Amortization of deferred financing costs and debt discount | 22,249 | 10,173 |
| Amortization of Unit-based compensation | 38,406 | 21,268 |
| Equity in income (loss) of, and return on, unconsolidated investments | 13,676 | 6,515 |
| Abandonment of development pursuits | 13,374 | 8,629 |
| Casualty and impairment loss | 4,130 | 858 |
| Non-operating (gains) losses | (4,963) | (39,509) |
| Loss on extinguishment of debt | 2,028 | — |
| Cash flow hedge gains reclassified to earnings | (1,583) | (912) |
| (Gain) loss on sale of real estate assets | (287,877) | (340,150) |
| (Increase) decrease in prepaid expenses and other assets | (69,094) | (35,365) |
| Increase (decrease) in accounts payable and accrued expenses and other liabilities | 209,431 | 68,564 |
| Net cash provided by operating activities | 1,041,874 | 1,270,674 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Cash acquired in Merger | 424,581 | — |
| Investment in real estate – acquisitions | — | (643,975) |
| Investment in real estate – development/other | (978,961) | (837,848) |
| Capital expenditures | (266,779) | (186,318) |
| Proceeds from disposition of real estate, net | 532,349 | 799,247 |
| Investment in unconsolidated entities – cash equity or loans | (18,526) | (35,881) |
| Distributions from unconsolidated entities – return of capital | 413 | — |
| Note receivable lending | (43,919) | (20,327) |
| Note receivable payments | 17,589 | 25 |
| Net cash provided by (used for) investing activities | $(333,253) | $(925,077) |
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Issuance of General Partner Units, net | $811,778 | $3,377 |
| Repurchase of General Partner Units, net | (198,480) | (151,846) |
| Distributions paid | (752,110) | (742,879) |
| Contributions – Limited Partners | 42 | — |
| Debt financing costs | (14,966) | (20,003) |
| Net borrowings under unsecured credit facility and commercial paper | 281,647 | 234,981 |
| Repayments of mortgage notes payable, including prepayment penalties | (200,886) | (10,492) |
| Issuance of unsecured notes | — | 947,488 |
| Repayment of unsecured notes | (567,025) | (525,000) |
| Proceeds from (payments on) settlement of derivative instruments | — | 4,099 |
| Payments related to tax withholding for share-based compensation | (13,693) | (16,643) |
| Noncontrolling interests, joint venture and preferred equity transactions | (20,307) | (13,864) |
| Net cash provided by (used for) financing activities | (674,000) | (290,782) |
| Net increase in cash and cash equivalents and restricted cash | 34,621 | 54,815 |
| Cash and cash equivalents and restricted cash, beginning of period | 353,083 | 267,076 |
| Cash and cash equivalents and restricted cash, end of period | $387,704 | $321,891 |
| Cash and cash equivalents and restricted cash, end of period | ||
| Cash and cash equivalents | $111,876 | $123,313 |
| Restricted cash | 275,828 | 198,578 |
| Total cash and cash equivalents and restricted cash, end of period | $387,704 | $321,891 |
| Cash paid during the period for interest, net of amount capitalized | $186,207 | $163,332 |
Supplemental disclosures of non-cash investing and financing activities:
During the nine months ended September 30, 2026:
Distributions declared but not paid totaled $553.0 million.
The Company recorded (i) an increase to prepaid expenses and other assets of$33.2 million and a corresponding adjustment to accumulated other comprehensive income (loss); and (ii) reclassified$2.0 million of cash flow hedge gains from other comprehensive income (loss) to interest expense to record the impact of the Company's derivative and hedging activity.
AvalonBay and Equity Residential completed the previously announced Merger, resulting in the issuance of Common Shares by the Company and a corresponding issuance of General Partner Units in ERPOP. Total net assets acquired were$24.2 billion, exclusive of cash and cash equivalents and restricted cash acquired. See Note 3, “Business Combination,” for more information.
The Company recorded adjustments related to its Supplemental Executive Retirement Plan ("SERP"). These adjustments resulted in a reduction of $4.1 million in other liabilities (reflecting changes in deferred compensation and SERP benefit obligations), a reduction of $4.0 million in other assets (reflecting market valuation adjustments on underlying plan assets held in trust), and a corresponding reduction to General Partner Capital of $0.1 million.
The Company recognized a net increase in payables for construction of $36.6 million.
During the nine months ended September 30, 2025:
The Company acquiredsix apartment communities, in the Dallas-Fort Worth metropolitan area, containing 1,844 apartment homes for $415.6 million, with the consideration comprised of a cash payment of $193.0 million and the issuance of 2,960,580 DownREIT Units.
Dividends declared but not paid totaled $250.1 million.
The Company recorded (i) a decrease to prepaid expenses and other assets of $5.8 million and a corresponding adjustment to accumulated other comprehensive income (loss); and (ii) reclassified $2.3 million of cash flow hedge gains from other comprehensive income (loss) to interest expense to record the impact of the Company's derivative and hedging activity.
The Company recognized a net increase in payables for construction of $12.0 million.
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