Vivmark Residential said it acquired 18 consolidated rental properties for approximately $1.6 billion in 2024 and disposed of 13 consolidated rental properties, receiving net proceeds of approximately $960.4 million.

1. 01

   Vivmark Residential said it acquired 18 consolidated rental properties for approximately $1.6 billion in 2024 and disposed of 13 consolidated rental properties, receiving net proceeds of approximately $960.4 million.

2. 02

   The company declared a dividend per share/unit of $0.675 for each quarter in 2024, an annualized increase of 2.0% over the amount paid in 2023. It also repurchased and retired 652,452 Common Shares at a weighted average purchase price of $58.95 per share for an aggregate purchased amount of approximately $38.5 million during 2024.

3. 03

   Vivmark Residential said cash provided by operating activities for 2024 increased by approximately $40.8 million compared to 2023, primarily as a result of the NOI and other changes discussed in Results of Operations.

4. 04

   The company issued $600.0 million of ten-year 4.65% unsecured notes in 2024, receiving net proceeds of approximately $598.0 million before underwriting fees, hedge termination costs and other expenses, which were used to partially fund its acquisition activity during 2024. The company also increased its unsecured commercial paper note program maximum from $1.0 billion to $1.5 billion as of December 18, 2024.

Key figures

Fiscal year ended December 31, 2024

Net income

$1.0B

EPS

$2.72

Operating cash flow

$1.6B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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