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ERP Operating Ltd Partnership (VRMK) guidance and outlook

ERP Operating Ltd Partnership's 10-Q filed Nov 9, 2026 makes 16 forward-looking statements, 14 of them new and 4 no longer said since the filing before.

Guidance and outlook

Forward-looking statements, 10-Q filed Nov 9, 2026

• new · Land or rights to land on which we expect to develop an additional 32 apartment communities that, if developed as expected, will contain 10,273 apartment homes.
• new · Unconsolidated Development is composed of projects that are either currently under construction, or were under construction and were completed during the current year, in which we have an indirect ownership interest through an unconsolidated joint venture.
• new · On August 18, 2026, following completion of the Merger, S&P Global Ratings raised our long-term issuer credit rating to ‘A’ with a stable outlook from ‘A-.’
• We generally expect to meet our short-term liquidity requirements, including capital expenditures related to maintaining our existing communities and scheduled unsecured note and mortgage note repayments, through our working capital, net cash provided by operating activities and borrowings under our Unsecured Revolving Credit Facilities and Commercial Paper Program (each as defined below).
• The commercial paper notes will be sold under customary terms in the United States commercial paper note market and will rank pari passu with all of our other unsecured senior indebtedness.
• new · We expect to meet these needs from one or more of a variety of internal and external sources, which may include (i) real estate dispositions, (ii) secured and unsecured debt financings and (iii) issuance of equity securities (including additional OP Units).
• new · We expect to cash settle the swaps and either pay or receive cash for the then current fair value, and will amortize the deferred hedging gain or loss over the life of the hedged debt as a component of interest expense.
• new · We expect these Development communities, when completed, to add a total of 9,104 apartment homes and 89,000 square feet of commercial space to our portfolio.
• new · We cannot assure you that we will meet our schedule for construction completion or that we will meet our projected total capital cost, either individually, or in the aggregate.
• new · At September 30, 2026, we had $133.9 million in acquisition and related capitalized costs for direct interests in seven land parcels we own and intend to develop.
• new · In addition, we had $74.2 million in capitalized costs (including legal fees, design fees and related overhead costs) related to pursuits probable of future development including (i) 20 Development Rights for which we control the land parcel, typically through a conditional agreement or option to purchase or lease the land, as well as (ii) costs incurred for five Development Rights that we expect to construct as…
• new · Collectively, the land held for development and associated costs for deferred Development Rights relate to 32 Development Rights for which we expect to develop new apartment communities in the future.

ERP Operating Ltd Partnership's latest quarter

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What does ERP Operating Ltd Partnership expect?

Land or rights to land on which we expect to develop an additional 32 apartment communities that, if developed as expected, will contain 10,273 apartment homes. Unconsolidated Development is composed of projects that are either currently under construction, or were under construction and were completed during the current year, in which we have an indirect ownership interest through an unconsolidated joint venture. On August 18, 2026, following completion of the Merger, S&P Global Ratings raised our long-term issuer credit rating to ‘A’ with a stable outlook from ‘A-.’

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Updated Nov 9, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.