Berkshire Income Realty : 01/21/15 - Berkshire Income Realty Announces Tax Treatment for 2014 Dividends Paid

Microsoft Word - 2015-01-21 - 2014 tax info.docx Berkshire Income Realty Announces Tax Treatment for 2014 Dividends Paid

BOSTON, January 21, 2015 - Berkshire Income Realty, Inc. (NYSE MKT: BIR.PR.A, BIR_PA, BIRPRA, BIR-A, BIR.A, BIR/PRA) (the "Company") announced today that the tax treatment for dividends paid on the Series A Preferred Stock during 2014 has been finalized. Total dividends of $2.25 per share of Series A Preferred Stock, or 9% of its $25 per share liquidation preference, were paid in quarterly installments during the year ended December
31, 2014. The total per share dividends paid by the Company of $2.25, or 100%, is taxable as a capital gain distribution reported on Form 1099-DIV, box 2a of which $0.65, or 29%, is characterized as unrecaptured section 1250 gain and reported on Form 1099-DIV, box 2b.
The Company is a Real Estate Investment Trust ("REIT") whose objective is to acquire, own, operate, develop and rehabilitate multifamily apartment communities. The Company owns interests in thirteen multifamily apartment communities and two multifamily development projects, of which three are located in the Baltimore/Washington, D.C. metropolitan area; three are located in Dallas, Texas; two in Atlanta, Georgia; and one is located in each of Houston, Texas; Sherwood, Oregon; Tampa, Florida; Philadelphia, Pennsylvania; Walnut Creek, California; Denver, Colorado; and Redmond, Washington. The Company also owns interests in two unconsolidated multifamily entities.
This press release may contain "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, about the Company. These statements involve a number of risks and uncertainties that could materially affect future results. Among these risk factors are the ones listed in the Company's periodic reports filed with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and Quarterly Report on Form 10-Q for the periods ended March 31, 2014, June 30, 2014 and September 30, 2014.
Contact Information:
Berkshire Income Realty, Inc. One Beacon Street, Suite 1500
Boston, Massachusetts 02108
Attention:
Stephen Lyons
Telephone: [phone]
E-mail: [e-mail]
Facsimile: 1-617-574-8312

Berkshire Group | One Beacon Street, Suite 1500 | Boston, MA 02108 | T 617.646.2300 | F 617.646.2370 www.berkshire-group.com