911635--2/25/2010--ASSOCIATED_ESTATES_REALTY

related topics

{loan, real, estate}

{provision, law, control}

{financial, litigation, operation}

{personnel, key, retain}

{tax, income, asset}

{cost, regulation, environmental}

{loss, insurance, financial}

{capital, credit, financial}

{debt, indebtedness, cash}

{stock, price, operating}

We are subject to risks inherent in the real estate business and operation of a REIT. We are dependent on rental income from our multifamily apartment communities. Our multifamily apartment communities are subject to competition. The properties we own are concentrated in Ohio, Michigan, Georgia, Florida, Indiana, Virginia and Maryland. Our insurance may not be adequate to cover certain risks. Secured debt financing could adversely affect our performance. Real estate investments are generally illiquid, and we may not be able to sell our properties when it is economically or strategically advantageous to do so. Our access to corporate public bond markets is limited. Litigation may result in unfavorable outcomes. The costs of complying with laws and regulations could adversely affect our cash flow. We are subject to risks associated with development, acquisition and expansion of multifamily apartment communities. We impose stock ownership limitations that may discourage a takeover otherwise considered favorable by shareholders. We have a shareholders rights plan which would delay or prevent a change in control. We may fail to qualify as a REIT and our shareholders may incur tax liability as a result. We are subject to control by our directors and officers. We depend on our key personnel. We may be exposed to construction business risk.

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911635--2/25/2010--ASSOCIATED_ESTATES_REALTY_CORP