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:

 

 

[ ]

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

[ ]

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

[ ]

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

[ ]

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,

Chief Financial Officer