UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
May 2 , 2017 |
Date of Report (Date of earliest event reported) |
AMERCO |
(Exact name of registrant as specified in its charter) |
Nevada |
1-11255 |
88-0106815 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
5555 Kietzke Lane, Suite 100 Reno, Nevada 895 11 |
(Address of Principal Executive Offices) |
(775) 688-6300 |
(Registrant’s telephone number, including area code) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1 .0 1 Entry into a Material Definitive Agreement
On October 15, 2015, Amerco Real E state Company (“AREC”), a wholly-owned subsidiary of AMERCO, entered into a Purchase and Sale Agreement with 23 rd and 11 th Associates, L.L.C., for the sale of a portion of AREC’s real property and improvements thereon located in Manhattan , New York for $200.0 million . Such agreement has been amended from time to time and was subject to several material regulatory contingencies . Such agreement will be filed as an exhibit to our upcoming annual report on Form 10-K. AREC believes that as of April 26, 2017 , the last significant local regulatory contingenc y has been resolved and t he closing of the sale of such property is reasonably expected to occur in August 2017. AREC will maintain ownership of one building at the Manhattan location thus allowin g U-Haul to serve the equipment rental needs of our customers in the area . AREC’s book value of the property being sold is approximately $ 5 million. The Company intends to reinvest the proceeds into its self-storage holdings via a 1031 exchange.
Dat ed: May 2 , 2017
AMERCO
/s/ Jason A. Berg
Jason A. Berg,