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Title: |
Supplemental Operating and Financial Data |
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Entities: |
FrontLine Capital Group; Reckson Associates Realty Corp.; TOTAL SA |
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Date: |
2002 |
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Size: |
Preview shows 7KB of 195KB total |
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Price: |
$68 |
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ID: |
#261301 |
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RECKSON ASSOCIATES REALTY CORP.
FIRST QUARTER 2002
SUPPLEMENTAL OPERATING AND FINANCIAL DATA
MAY 2, 2002
225 BROADHOLLOW ROAD, MELVILLE, NY 11747
PHONE: 631.694.6900 1.888.RECKSON FAX: 631.622.6790
www.reckson.com
[RECKSON GRAPHIC OMITTED]
{PAGE}
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TABLE OF CONTENTS
Page(s)
Company Information
o Corporate Information...............................................2-3
o Reporting Period Highlights.........................................4-5
o Stock Performance.....................................................6
Financial Highlights
o Key Financial Data....................................................7
o Statements of Operations..............................................8
o Funds from Operations and Cash Available for Distribution.............9
o Consolidated Balance Sheets..........................................10
o Debt Summary.........................................................11
o Preferred Securities.................................................12
Portfolio Performance
o Same Store Performance...............................................13
o Portfolio Snapshot...................................................14
o Occupancy Analysis................................................15-16
o Leasing Statistics................................................17-18
o Lease Expirations.................................................19-23
o Lease Distribution...................................................24
o Capital Expenditures Analysis........................................25
Market Statistics
o Suburban Market Overviews............................................26
o New York City Sub-Markets............................................27
o Long Island Sub-Markets..............................................28
o Westchester Sub-Markets..............................................29
o New Jersey Sub-Markets...............................................30
Value Creation Pipeline
o Value Creation Pipeline Schedule.....................................31
Reckson Strategic Venture Partners (RSVP)
o Combined Balance Sheets..............................................32
o Summary of Invested Capital..........................................33
o Summarized Platform Balance Sheets...................................34
Certain matters discussed herein are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Although the
Company believes the expectations reflected in such forward-looking statements
are based on reasonable assumptions, forward-looking statements are not
guarantees of results and no assurance can be given that the expected results
will be delivered. Such forward-looking statements are subject to certain risks,
trends and uncertainties that could cause actual results to differ materially
from those expected. Among those risks, trends and uncertainties are the general
economic climate, including the conditions affecting industries in which our
principal tenants compete; changes in the supply of and demand for office and
industrial properties in the New York Tri-State area; changes in interest rate
levels; downturns in rental rate levels in our markets and our ability to lease
or re-lease space in a timely manner at current or anticipated rental rate
levels; the availability of financing to us or our tenants; changes in operating
costs, including utility costs; repayment of debt owed to the Company by third
parties (including FrontLine Capital Group); risks associated with joint
ventures; and other risks associated with the development and acquisition of
properties, including risks that development may not be completed on schedule,
that the tenants will not take occupancy or pay rent, or that development or
operating costs may be greater than anticipated. For further information on
factors that could impact Reckson, reference is made to Reckson's filings with
the Securities and Exchange Commission. Reckson is subject to the reporting
requirements of the Securities and Exchange Commission and undertakes no
responsibility to update or supplement information contained in this
supplemental package that subsequently becomes untrue.
###
Reckson Associates Realty Corp.
Supplemental Operating and Financial Data for the Quarter Ended March 31, 2002
{PAGE}
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CORPORATE INFORMATION
CORPORATE PROFILE
Reckson Associates Realty Corp. is a self-administered and self-managed real
estate investment trust (REIT) that is one of the largest publicly traded
owners, developers and managers of Class A office and industrial properties in
the New York Tri-State area.
Through a predecessor entity, Reckson commenced operations in 1958 and grew
steadily by acquiring, developing and redeveloping Class A office and industrial
properties throughout Long Island. In June 1995, Reckson successfully completed
its initial public offering. Subsequently, the Company expanded from its Long
Island base and established operating divisions in Westchester, Connecticut, New
Jersey and New York City. By transporting the formula that built its success on
Long Island to the other Tri-State area markets, Reckson is now positioned as
the premier real estate franchise in the New York Tri-State area.
Today, Reckson owns 181 properties comprised of approximately 20.5 million
square feet located throughout the New York Tri-State area markets. These
properties are comprised of 13.8 million square feet of Class A office space and
6.7 million square feet of industrial space. The Company has a total market
capitalization of approximately $3.3 billion and has generated a total return to
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