Vivmark lifts commercial paper cap to $2.5B

Available on EDGAR 09/17/2026 - 04:55 PM EDT Accepted by SEC EDGAR 09/17/2026 - 04:53 PM EDT

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Form Type

8-K

Rhea-AI Filing Summary

Vivmark Residential (VMRK), through its operating partnership ERP Operating Limited Partnership, increased the maximum aggregate amount of unsecured notes that may be issued under its U.S. dollar-denominated commercial paper program from $1.5 billion to $2.5 billion as of September 16, 2026.

The notes are unsecured obligations ranking pari passu with the Operating Partnership’s other unsecured senior indebtedness. They are offered in the U.S. commercial paper market in transactions exempt from registration under the Securities Act, relying on Section 4(a)(2).

Filing Explained

On September 16, 2026, the operating partnership raised the maximum aggregate amount outstanding under its commercial-paper program from $1.5 billion to $2.5 billion, expanding borrowing capacity. The 8-K does not state how much Notes were outstanding after the increase; the ceiling is not an issuance amount.

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Key Figures

New commercial paper program limit: $2.5 billion Previous commercial paper program limit: $1.5 billion Securities Act exemption used: Section 4(a)(2)

3 metrics

New commercial paper program limit $2.5 billion Maximum aggregate amount of unsecured notes outstanding at any time under the program

Previous commercial paper program limit $1.5 billion Prior maximum aggregate amount of unsecured notes outstanding at any time

Securities Act exemption used Section 4(a)(2) Exemption from registration for offers and sales of the notes

Key Terms

commercial paper program, pari passu, unsecured senior indebtedness, Section 4(a)(2)

4 terms

commercial paper program financial

"its U.S. dollar-denominated commercial paper program from a maximum aggregate amount"

A commercial paper program is a formal way a company issues very short-term IOUs to raise quick cash, typically for days to months, without using a bank loan. Investors care because it shows how the company manages short-term funding and how trustworthy it appears—like watching whether someone keeps using and repaying a credit card; frequent use or higher costs can signal cash strain, while smooth issuance suggests healthy liquidity.

pari passu financial

"rank pari passu with all of the Operating Partnership’s other unsecured"

An instruction that different claims, securities, or creditors are treated equally and share rights or payments on the same priority level. For investors, it means their position will be paid or have voting power alongside others in the same class rather than being favored or subordinated—think of several people standing in one bus line who all get on together rather than some cutting ahead. That parity affects expected recovery in reorganizations, dividend order, and relative risk.

unsecured senior indebtedness financial

"with all of the Operating Partnership’s other unsecured senior indebtedness"

Section 4(a)(2) regulatory

"sold pursuant to the exemption from registration contained in Section 4(a)(2)"

Section 4(a)(2) is a part of U.S. securities laws that allows companies to sell their stock directly to certain investors without registering the sale with regulators. This process is often used for private placements, making it easier and faster for companies to raise money from knowledgeable or institutional investors. It matters to investors because it provides an alternative way to buy shares, often with fewer disclosures and lower costs.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Vivmark Residential (VMRK) announce regarding its commercial paper program?

Vivmark Residential’s operating partnership, ERP Operating Limited Partnership, increased the maximum aggregate amount of unsecured notes that may be issued under its U.S. dollar-denominated commercial paper program from $1.5 billion to $2.5 billion as of September 16, 2026.

What is the new maximum size of VMRK’s commercial paper program?

The operating partnership of Vivmark Residential may now issue up to $2.5 billion in unsecured notes outstanding at any time under its U.S. dollar-denominated commercial paper program.

How do Vivmark Residential’s commercial paper notes rank in its capital structure?

The commercial paper notes issued by Vivmark Residential’s operating partnership are unsecured and rank pari passu with all of the Operating Partnership’s other unsecured senior indebtedness.

Are Vivmark Residential’s commercial paper notes registered with the SEC?

No. The notes have not been and will not be registered under the Securities Act or state securities laws and are being sold pursuant to the Section 4(a)(2) exemption from registration for private offerings.

When did Vivmark Residential’s operating partnership approve the increase in its commercial paper limit?

Vivmark Residential’s operating partnership increased the maximum aggregate amount under its commercial paper program on September 16, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES
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): September 16, 2026

    

VIVMARK RESIDENTIAL

(Exact Name of Registrant as Specified in Its Charter)



Maryland	1-12252	13-3675988
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

ERP OPERATING LIMITED PARTNERSHIP (Exact Name of Registrant as Specified in Its Charter)
Illinois	0-24920	36-3894853
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)


Two North Riverside Plaza
Chicago, Illinois		60606

4040 Wilson Blvd., Suite 1000
Arlington, Virginia		22203
(Addresses of Principal Executive Offices)		(Zip Codes)

     Registrant’s Telephone Number, Including Area Code: (312) 474-1300 or (703) 329-6300

    

     Not applicable

    

(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:


	☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

     
Title of each class

     Trading
Symbol(s)

Name of each exchange on which registered

     Common Shares of Beneficial Interest, 
$0.01 Par Value (Vivmark Residential)

     VMRK

     The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On September 16, 2026, Vivmark Residential’s operating partnership, ERP Operating Limited Partnership, an Illinois limited partnership (the “Operating Partnership”), increased the maximum aggregate amount for which it may issue, from time to time, unsecured notes (the “Notes”) pursuant to its U.S. dollar-denominated commercial paper program from a maximum aggregate amount outstanding at any time of $1.5 billion to $2.5 billion. The Notes are sold under customary terms in the United States commercial paper note market and rank pari passu with all of the Operating Partnership’s other unsecured senior indebtedness. The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. The Notes are being sold pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. The information contained in this Current Report on Form 8-K is neither an offer to sell nor a solicitation of an offer to buy any securities.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


		VIVMARK RESIDENTIAL
Date: September 17, 2026		By: /s/ Scott J. Fenster
		Name: Scott J. Fenster
		Its: Executive Vice President, General Counsel and Corporate Secretary

		ERP OPERATING LIMITED PARTNERSHIP
		By: Vivmark Residential, its general partner
Date: September 17, 2026		By: /s/ Scott J. Fenster
		Name: Scott J. Fenster
		Its: Executive Vice President, General Counsel and Corporate Secretary

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

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