Equity Office Properties Trust
Buildings' "It" company in the 2001 "Who's Who," Equity Office Properties Trust is the nation's largest real estate investment trust (REIT) and reports that funds from operations (FFO) for second-quarter 2002 totaled $366.3 million, as compared to the FFO for the same period in 2001 of $272.7 million. Total revenues in second-quarter 2002 were $884 million, as compared to $664 million in second-quarter 2001, primarily due to the revenues associated with the Spieker Properties acquisition in July 2001. Its 767 buildings comprise 127.5 million square feet (primarily Class A office properties) in 21 states and the District of Columbia. Equity Office has an ownership presence in 34 Metropolitan Statistical Areas (MSAs) and in 146 submarkets, enabling it to provide a wide range of office solutions for local, regional, and national customers. Of particular note is its ability to secure access to low-cost capital, acquisition opportunities, real-time market information, and top management talent. Equity Office has nearly quadrupled in size since the company's portfolio was taken public in July 1997, much of the growth through strategic acquisitions.
[Editors' Note: Equity Office Properties Trust certainly stirred up a somewhat stagnant West Coast real estate market last year with its merger with Spieker Properties. At the same time, it has solidified its place as a true leader - in finding the right people and the right companies to expand its growing empire.]