Attached files
file | filename |
---|---|
EX-10.2 - EX-10.2 - APOLLO EDUCATION GROUP INC | p18757exv10w2.htm |
EX-10.1 - EX-10.1 - APOLLO EDUCATION GROUP INC | p18757exv10w1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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
Date of Report (Date of Earliest Event Reported): March 24, 2011
Apollo Group, Inc.
(Exact name of registrant as specified in its charter)
Arizona | 0-25232 | 86-0419443 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
4025 S. Riverpoint Parkway, Phoenix, Arizona |
85040 | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (480) 966-5394
Former name or former address, if changed since last report
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:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 1 Registrants Business and Operations
Item 1.01 | Entry into a Material Definitive Agreement. |
On March 24, 2011, Apollo Group, Inc. (Apollo), through its wholly-owned limited liability
company subsidiaries, Riverpoint Lots 1/3/5, LLC and Riverpoint Lot 2, LLC, entered into a Purchase
Agreement with Cole OF Phoenix AZ to sell Apollos principal office complex in Phoenix, Arizona for
$170 million. The complex is composed of three mid-rise office buildings, two parking facilities
and the related land and contains approximately 600,000 square feet of office space. Apollo
simultaneously entered into a Commercial Lease with Cole OF Phoenix AZ to lease back the office
complex for an initial term of 20 years, with four five-year renewal options. The initial annual
rental under the lease is $12 million, which is increased 2% per year until the end of the initial
lease term. Apollo expects to generate a gain on the sale of approximately $28 million, which will
be deferred and recognized over the initial lease term.
The Purchase Agreement and Commercial Lease are filed as exhibits to this Form 8-K, and the
foregoing description is qualified in its entirety by reference to the terms of these agreements as
filed.
Section 9 Financial Statements and Exhibits
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
The following exhibits are provided herewith:
Exhibit Number | Description | |||
10.1 | Purchase Agreement among Riverpoint Lots 1/3/5 LLC, Riverpoint Lot 2, LLC, Cole OF Phoenix
AZ, LLC and First American Title Insurance Company dated March 24, 2011. |
|||
10.2 | Commercial Lease between Cole OF Phoenix AZ, LLC and Apollo Group, Inc. dated March 24, 2011. |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
Apollo Group, Inc. |
||||
March 24, 2011 | By: | /s/ Brian L. Swartz | ||
Name: | Brian L. Swartz | |||
Title: | Senior Vice President, Chief Financial Officer |
3
Exhibit Index
Exhibit No. | Description | |||
10.1 | Purchase Agreement among Riverpoint Lots 1/3/5 LLC, Riverpoint
Lot 2, LLC, Cole OF Phoenix AZ, LLC and First American Title
Insurance Company dated March 24, 2011. |
|||
10.2 | Commercial Lease between Cole OF Phoenix AZ, LLC and Apollo
Group, Inc. dated March 24, 2011. |