VIVMARK RESIDENTIAL
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
View on SEC.govAbout this filing
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
VMRK$66.14+1.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
| PAGE | |
|---|---|
| PART I. | |
| Item 1. Financial Statements of Vivmark Residential: | |
| Consolidated Balance Sheets as of September 30, 2026 and December 31, 2025 | 2 |
| Consolidated Statements of Operations for the three and nine months ended September 30, 2026 and 2025 | 3 |
| Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 30, 2026 and 2025 | 4 |
| Consolidated Statements of Changes in Equity for the three and nine months ended September 30, 2026 and 2025 | 5 |
| Consolidated Statements of Cash Flows for the nine months ended September 30, 2026 and 2025 | 7 |
| Financial Statements of ERP Operating Limited Partnership: | |
| Consolidated Balance Sheets as of September 30, 2026 and December 31, 2025 | 10 |
| Consolidated Statements of Operations for the three and nine months ended September 30, 2026 and 2025 | 11 |
| Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 30, 2026 and 2025 | 12 |
| Consolidated Statements of Changes in Capital for the three and nine months ended September 30, 2026 and 2025 | 13 |
| Consolidated Statements of Cash Flows for the nine months ended September 30, 2026 and 2025 | 15 |
| Notes to Consolidated Financial Statements of Vivmark Residential and ERP Operating Limited Partnership | 18 |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 40 |
| Item 3. Quantitative and Qualitative Disclosures about Market Risk | 56 |
| Item 4. Controls and Procedures | 57 |
| PART II. | |
| Item 1. Legal Proceedings | 57 |
| Item 1A. Risk Factors | 58 |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 62 |
| Item 3. Defaults Upon Senior Securities | 63 |
| Item 4. Mine Safety Disclosures | 63 |
| Item 5. Other Information | 63 |
| Item 6. Exhibits | 63 |
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands except for share amounts)
| September 30, | December 31, | |
|---|---|---|
| 2026 | 2025 | |
| ASSETS | ||
| Operating real estate | $61,109,854 | $27,709,945 |
| Less accumulated depreciation | (9,898,933) | (8,686,084) |
| Operating real estate, net | 51,210,921 | 19,023,861 |
| Construction in progress ("CIP"), including land | 1,689,500 | 1,458,795 |
| Land held for development | 133,943 | 123,751 |
| Real estate assets held for sale, net | 166,642 | 150,262 |
| Total real estate, net | 53,201,006 | 20,756,669 |
| Unconsolidated real estate investments and advances | 448,162 | 123,173 |
| Cash and cash equivalents | 111,876 | 187,234 |
| Restricted cash | 275,828 | 165,849 |
| Deferred development costs | 74,161 | 73,237 |
| Right of use lease assets | 690,130 | 147,537 |
| Notes receivable, net | 310,208 | 259,051 |
| Prepaid expenses and other assets | 867,925 | 479,387 |
| Total assets | $55,979,296 | $22,192,137 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Unsecured debt, net | $13,941,316 | $7,879,380 |
| Line of credit and commercial paper, net | 1,021,255 | 739,608 |
| Mortgage notes payable, net | 2,039,437 | 709,564 |
| Distributions payable | 552,975 | 250,548 |
| Lease liabilities | 415,652 | 165,200 |
| Accounts payable and accrued expenses | 1,198,928 | 480,120 |
| Other liabilities | 221,723 | 133,400 |
| Total liabilities | 19,391,286 | 10,357,820 |
| Commitments and contingencies | ||
| Redeemable Noncontrolling Interests – Operating Partnership | 169,781 | — |
| Equity: | ||
| Shareholders' equity: | ||
| Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 343,100 shares issued and outstanding as of September 30, 2026 and 0 shares issued and outstanding as of December 31, 2025 | 17,155 | — |
| Common Shares of beneficial interest, $0.01 par value; 2,000,000,000 shares authorized; 773,374,666 shares issued and outstanding as of September 30, 2026 and 391,245,275 shares issued and outstanding as of December 31, 2025 | 7,734 | 3,912 |
| Additional paid-in-capital | 36,813,105 | 11,209,785 |
| Retained earnings (loss) | (1,038,322) | 371,157 |
| Accumulated other comprehensive income (loss) | 57,580 | 26,486 |
| Total shareholders’ equity | 35,857,252 | 11,611,340 |
| Noncontrolling interests: | ||
| Operating Partnership and DownREIT Units | 459,750 | 222,977 |
| Partially Owned Communities | 101,227 | — |
| Total noncontrolling interests | 560,977 | 222,977 |
| Total equity | 36,418,229 | 11,834,317 |
| Total liabilities and equity | $55,979,296 | $22,192,137 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.