Company: CLPR
Filing Date: 2025-04-08
Form Type: 8-K
Source: 0001437749-25-011420
Chunk: 3

Company: Clipper Realty Inc.
Filing Date: 2025-04-08
Form: 8-K
Item: Item 2.06
Chunk 3
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Item 2.06. Material Impairments.

As a result of the transaction contemplated by the Agreement described in Item 1.01 of this Current Report on Form 8-K, the Company has determined that the financial results for the quarter ended March 31, 2025 will include an impairment of certain assets related to the Property, primarily Investment in Real Estate. The Company currently estimates that the range of such impairment charges for Investment in Real Estate assets could be from approximately $32.0 million to approximately $34.0 million. The impairment charges that the Company expects to incur in connection with the sale of the Property are subject to a number of assumptions, and the actual amount of impairment charges may differ materially from the range estimated by the Company. Updates regarding these impairment charges will be provided in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2025. The Information disclosed in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.06.

Cautionary Note Concerning Forward-Looking Statements