1222840--3/31/2009--INLAND_WESTERN_RETAIL_REAL_ESTATE_TRUST

related topics

{investment, property, distribution}

{loan, real, estate}

{condition, economic, financial}

{debt, indebtedness, cash}

{stock, price, share}

{tax, income, asset}

{cost, contract, operation}

{interest, director, officer}

{loss, insurance, financial}

{provision, law, control}

{cost, regulation, environmental}

{operation, natural, condition}

The recent market disruptions may adversely affect our operating results and financial condition. Debt and equity markets . Our cash flows and operating results could be adversely affected by required payments of debt or related interest and other risks of our debt financing. Our financial condition could be adversely affected by financial covenants under our credit agreement. We are vulnerable to changes in the business and financial condition of retailers, or demand for our space . Our common stock is not currently listed on an exchange and cannot be readily sold. Increases in market interest rates may hurt the value of our stock. Our share repurchase program is limited thereby reducing the potential liquidity of a shareholders investment. There are conflicts of interest between us and our related parties. Our investment in marketable securities has, and may in the future, negatively impact our results There are inherent risks with real estate investments. Adverse economic conditions could reduce our income and distributions to shareholders. Competition with third parties in acquiring properties will reduce our profitability and the return on an investment in our stock. We may fail to dispose of properties on favorable terms. It may be difficult to buy and sell real estate quickly, or at all, and transfer restrictions apply to some of our properties. Our properties are subject to competition for tenants and customers We depend on leasing space to tenants on economically favorable terms and collecting rent from these tenants, who may not be able to pay. Bankruptcy or store closures of tenants may decrease our revenues or available cash. Inflation may adversely affect our financial condition and results of operations. The objectives of our partners in joint ventures may conflict with our objectives. Real estate related taxes may increase and if these increases are not passed on to tenants, our net income will be reduced Construction and development activities expose us to risks such as cost overruns, carrying costs of projects under construction or development, availability and costs of materials and labor, weather conditions and government regulation. Development joint venture projects may expose us to greater risks than those associated with the acquisition of operating properties. Bankruptcy of our developers could impose delays and costs on us with respect to the development retail properties. If we suffer losses that are not covered by insurance or that are in excess of insurance coverage, we could lose invested capital and anticipated profits. Some of our properties are subject to potential natural or other disasters. We may incur costs to comply with environmental laws. We incur mortgage indebtedness and other borrowings, which reduce the funds available for distribution and increase the risk of loss since defaults may result in foreclosure. In addition, mortgages sometimes include cross-collateralization or cross-default provisions that increase the risk that more than one property may be affected by a default We may not be able to obtain capital to make investments. Our substantial indebtedness could adversely affect our financial health and operating flexibility. We may have to reduce or eliminate our dividend. If we fail to qualify as a REIT in any taxable year, our operations and distributions to shareholders will be adversely affected. In certain circumstances, we may be subject to federal, state and local taxes. An ownership limit and certain anti-takeover defenses and applicable law may hinder any attempt to acquire us The annual statement of value that we send to shareholders subject to ERISA and to certain other plan shareholders is only an estimate and may not reflect the actual value of our shares.

Full 10-K form ▸

1222840--3/31/2009--INLAND_WESTERN_RETAIL_REAL_ESTATE_TRUST_INC