ITEM 8.01 Other Events
On August 21, 2008, Cogdell Spencer Inc. (the "Company") announced that it
entered into a joint venture with Northwestern Mutual to acquire medical office
buildings. In connection therewith, CSA Medical Partners Management, LLC, a
subsidiary of Cogdell Spencer LP, the operating partnership subsidiary of the
Company, and Northwestern Mutual entered into a limited liability company
agreement, dated August 21, 2008, to form CSA Medical Partners LLC (the "Joint
Venture"). The Joint Venture expects to acquire up to approximately $350 million
of medical office buildings and other healthcare facilities nationwide,
predominantly associated with not-for-profit healthcare systems and large
physician-owned clinics. The Company will contribute 20% of the equity capital,
or approximately $25 million, to the Joint Venture to fund future acquisitions.
The Joint Venture will be the Company's exclusive vehicle for cash acquisitions.
The Company will earn market based fees associated with the properties acquired
by the Joint Venture.
ITEM 9.01 Financial Statements and Exhibits
Exhibit 99.1 Press release of Cogdell Spencer Inc., dated August 21, 2008, announcing
the joint venture with Northwestern Mutual to form CSA Medical Partners
LLC.
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