SEC Company Response from Columbia Equity Trust, Inc. (CIK 0001316710) — Jun 24, 2005
Columbia Equity Trust, Inc. (CIK 0001316710)
Date: June 24, 2005 · CIK: 0001316710 · Accession: 0000950133-05-002786
AI Filing Summary & Sentiment
File numbers found in text: 333-122644
Letter
Via EDGAR Washington, D.C. 20549-0409 Re: Columbia Equity Trust, Inc. (the “Company”) Registration Statement No. 333-122644
Dear Mr. Shady:
In response to comment 1 of the comment letter of the staff of the Securities and Exchange Commission (the “Commission”) Division of Corporate Finance set forth in the letter, dated June 22, 2005 from Karen J. Garnett to Oliver T. Carr, III of the Company, the Company hereby provides to the Commission the Rule 3-14 Significance Test as Schedule A attached hereto and the Rule 3-09 Significance Test as Schedule B attached hereto.
If you have any questions regarding the foregoing, please do not hesitate to call the undersigned at (804) 788-8388 or David C. Wright at (804) 788-8638.
Sincerely,
/s/ S. Gregory Cope
Show Raw Text
CORRESP
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filename1.htm
corresp
HUNTON & WILLIAMS LLP
RIVERFRONT PLAZA, EAST TOWER
951 EAST BYRD STREET
RICHMOND, VIRGINIA 23219-4074
TEL 804 • 788 • 8200
FAX 804 • 788 • 8218
June 24, 2005
Via EDGAR
Mr. Jeffrey Shady
Mailstop 0409
U.S. Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549-0409
Re:
Columbia Equity Trust, Inc. (the “Company”)
Registration Statement No. 333-122644
Dear Mr. Shady:
In response to comment 1 of the comment letter of the staff of the Securities and Exchange
Commission (the “Commission”) Division of Corporate Finance set forth in the letter, dated June 22,
2005 from Karen J. Garnett to Oliver T. Carr, III of the Company, the Company hereby provides to
the Commission the Rule 3-14 Significance Test as Schedule A attached hereto and the Rule 3-09
Significance Test as Schedule B attached hereto.
If you have any questions regarding the foregoing, please do not hesitate to call the undersigned
at (804) 788-8388 or David C. Wright at (804) 788-8638.
Sincerely,
/s/ S. Gregory Cope
S. Gregory Cope
cc:
Rachel Zablow
Steven Jacobs
Oliver T. Carr
John A. Schissel
John A. Good, Esq.
Enclosures
Rule 3-14 Significance Test
Exhibit A
Base for Rule 3-14 Significance Test
Pro Forma
Balance
Sheet
Base For
As of
Rule 3-14
December 31, 2004
Test
Real estate, net
103,088,000
103,088,000
Cash and cash equivalents
26,424,000
Prepaid expenses
Accounts and other receivables
420,000
Due from related parties
Furniture and equipment, net
25,000
Investments in real estate entities
44,830,000
44,830,000
Other assets
887,000
Total assets
175,674,000
147,918,000
Rule 3-14 Tests
Fair Value
Fair Value
Interest
Interest
Percentage
Acquired
Acquired
Of Base for
(Third Parties)
(Related Parties)
Rule 3-14 Test
Audit Status
Properties to be Acquired
Fair Oaks
18,948,000
12.81
%
Item 3-14 Audit of 2004 Performed
Greenbriar
14,486,000
9.79
%
Item 3-14 Audit of 2004 Performed
Sherwood Plaza
15,886,000
10.74
%
Item 3-14 Audit of 2004 Performed
Meadows IV
30,087,000
20.34
%
Item 3-14 Audit of 2004 Performed
Gateway
22,100,000
14.94
%
Item 3-14 Audits of 2004, 2003 and 2002 Performed
79,407,000
22,100,000
Joint Venture Interests to be Acquired
Atrium
4,666,000
3.15
%
King Street
5,441,000
3.68
%
Item 3-09 Audits Performed
Madison
5,756,000
3.89
%
Item 3-09 Audits Performed
Independence Center
1,948,000
1.32
%
1575 Eye Street
—
0.00
%
Item 3-09 Audits Performed
Victory Center
834,000
0.56
%
Suffolk
9,608,000
6.50
%
Item 3-14 Audit of 2004 Performed
Barlow
13,300,000
8.99
%
41,553,000
—
Total all acquisitions
120,960,000
22,100,000
Coverage of Insignificant Acquisitions
50.07
%
Rule 3-09 Significance Test
Exhibit B
Balance Sheet Test
Predecessor Company
Balance Sheet As Of
Percent of
Investment in Real Estate Entities
December 31, 2004
Total Assets
Audit Status
Fair Oaks
105,463
1.50
Greenbriar
500,638
7.14
Sherwood Plaza
31,949
0.46
Meadows IV
643,478
9.17
Atrium
360,120
5.13
King Street
—
—
Item 3-09 Audits Performed
Madison
239,289
3.41
Item 3-09 Audits Performed (1)
Independence Center
857,721
12.23
1575 Eye Street
1,307,690
18.64
Item 3-09 Audits Performed (1)
4,046,348
57.68
Other entities
143,418
2.04
Total investment in real estate entities
4,189,766
59.72
All other assets
2,824,004
40.28
Total combined assets
7,013,770
100.00
Income Statement Test
Predecessor Company
Statement of Operations
Percent of
For The Year Ended
Total Pretax
Equity in Income (Loss) of Real Estate Entities
December 31, 2004
Income
Audit Status
Fair Oaks
62,764
10.90
Greenbriar
34,276
5.95
Sherwood Plaza
2,080
0.36
Meadows IV
(6,522
)
(1.13
)
Atrium
(330
)
(0.06
)
King Street
331,810
57.64
Item 3-09 Audits Performed
Madison
(10,793
)
(1.87
)
Item 3-09 Audits Performed (1)
Independence Center
(46,786
)
(8.13
)
1575 Eye Street
(3,107
)
(0.54
)
Item 3-09 Audits Performed (1)
363,392
63.12
Other entities
47,201
8.20
Total equity in income of real estate entities
410,593
71.32
Other revenues and expenses, net
165,035
28.68
Total combined pretax income
575,628
100.00
(1)
Rule 3-09 financial statements required and provided at December 31, 2004 and
therefore December 31, 2004 financial statements provided.