8-K

 

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):

October 26, 2010

HOME PROPERTIES, INC.

(Exact name of Registrant as specified in its Charter)

MARYLAND	1-13136 No.	16-1455126
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification Number)

850 Clinton Square, Rochester, New York 14604

 (Address of principal executive offices and internet site)

(585) 546-4900

(Registrant's telephone number, including area code)

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))

HOME PROPERTIES, INC.

CURRENT REPORT

ON FORM 8-K

Item 5.02                      Departure of Director or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

The Board of Directors of Home Properties, Inc. voted to appoint Thomas Lydon to the Board of Directors, effective January 1, 2011.  A press release announcing his appointment is attached as Exhibit 99.

Mr. Lydon will serve as an independent director and it is expected that he will be appointed to serve on the Real Estate Investment Committee.  Upon joining the Board, Mr. Lydon will receive the same compensation as is paid to other directors of the Company.

In connection with Mr. Lydon’s appointment to the Board of Directors, Mr. Lydon and the Company will enter into an Indemnification Agreement in substantially the same form as the Company has entered into with the other independent directors.

In connection with this appointment, the Board of Directors also changed the size of the Board to twelve directors, effective January 1, 2011.

Item 9.01                      Financial Statements and Exhibits

Exhibit 99                      Press Release of Home Properties, Inc. Dated November 1, 2010 (filed herewith)

SIGNATURES

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

HOME PROPERTIES, INC.

(Registrant)

Date:      November 1, 2010

By:           /s/ David P. Gardner                                                                           

David P. Gardner

Executive Vice President and Chief Financial Officer

2

EX-99

Exhibit 99

FOR IMMEDIATE RELEASE

Home Properties Adds Director

ROCHESTER, N.Y., November 1, 2010– Home Properties (NYSE:HME) today announced the appointment of a new director, Thomas P. Lydon, Jr., effective January 1, 2011.  Since 2003, Lydon has been President of The City Investment Fund, L.P., a $770 million real estate opportunity fund.  With this additional independent director, the total number of board members will be twelve.

Lydon, age 62, was President and Chief Executive Officer of SSR Realty Advisors Inc., a real estate investment management subsidiary of Met Life, from 1995 to 2003.  Previously, he held senior level positions in real estate investment and management companies as well as in mortgage banking and commercial real estate lending.

Lydon is on the Board of Directors of Settlement Housing Fund, Inc.  He received his Bachelor of Business Administration with a major in real estate from Syracuse University.

“Tom’s diversified management and real estate experience will be a tremendous asset to Home Properties’ board,” said Norman Leenhouts, Co-Chair of Home Properties’ Board of Directors.  “The Company will benefit greatly from Tom’s broad background and financial expertise.”

Home Properties is a publicly traded apartment real estate investment trust that owns, operates, develops, acquires and rehabilitates apartment communities primarily in selected Northeast and Mid-Atlantic markets.  Currently, Home Properties owns 115 communities containing 38,630 apartment units.  For more information, visit Home Properties’ website at homeproperties.com.

For further information:

Charis W. Warshof, Vice President, Investor Relations, (585) 295-4237

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850 Clinton Square/Rochester, New York  14604/(585) 546-4900/FAX (585) 546-5433

www.homeproperties.com