UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 OR 15(b) of The Securities Exchange
Act of 1934
Date of Report (Date of earliest event reported)
November 12, 1996 (November 1, 1996)
SUSA Partnership, LP
(Exact name of registrant as specified in its charter)
Tennessee 333-03344 62-1554135
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification No.)
of incorporation)
10440 Little Patuxent Parkway, Suite 1100, 21044
Columbia, Maryland
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (410) 730-9500
<PAGE>
The purpose of this amendment is to correct certain typographical
errors in Exhibit 99, as previously filed.
Item 7: Financial Statements and Exhibits
(c)Exhibits
Exhibit Description
99.0 Summary consolidated financial information
for the quarter ended September 30, 1996
<PAGE>
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.
DATED: November 8, 1996
SUSA PARTNERSHIP, L.P.
By: /s/ Thomas E. Robinson
Thomas E. Robinson
President and
Chief Financial Officer
<TABLE>
SUSA PARTNERSHIP, L.P.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(in thousands, except per unit data)
<CAPTION>
Three Three Nine Nine
months months months months
ended ended ended ended
Sept. 30, Sept. 30, Sept.30, Sept.30,
1996 1995 1996 1995
<S> <C> <C> <C> <C>
Property Revenue:
Rental income $28,806 $18,281 $73,396 $46,276
Management
income 113 224 560 808
Other income 516 162 1,170 342
Total Property 29,435 18,667 75,126 47,426
Revenues
Property
Expenses:
Cost of property
operations and
maint. 7,816 4,865 19,933 12,854
Taxes 2,419 1,376 6,163 3,356
General &
administrative 1,318 697 3,067 1,806
Depreciation/
amortization 3,380 2,273 8,813 5,677
Total Property 14,933 9,211 37,976 23,693
Expenses
Income from
Property 14,502 9,456 37,150 23,733
Operations
Other income
(expenses)
Interest
expense (2,626) (454) (5,848) (1,667)
Interest
income 176 21 506 58
Income before
minority interest 12,052 9,023 31,808 22,124
and gain on
investment
Gain on
investment 288 288
Income before
minority 12,340 32,096
interest
Minority
interest (1) (37) (128) (144)
Net income $12,339 $8,986 $31,968 $21,980
Net income
per unit $0.55 $0.49 $1.54 $1.40
Weighted average
units 22,600 18,220 20,757 15,724
outstanding
</TABLE>
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<PAGE>
SUSA PARTNERSHIP, L.P.
FUNDS FROM OPERATIONS COMPUTED UNDER THE AMENDED DEFINITION (in
thousands)
<TABLE>
<CAPTION>
Revised Revised
Three Three Nine Nine
Months Months Months months
Sept. 30, Sept. 30, Sept.30, Sept.30,
1996 1995 1996 1995
<F1> <F1> <F1> <F1>
<S> <C> <C> <C> <C>
Operating Partnership
Funds from
Operations
Net income
before gain
on investment $12,051 $8,986 $31,680 $21,980
Depreciation of
revenue producing
property 3,224 1,945 8,235 4,726
Amortization of
lease guarantees 2 22 70 313
Amortization of
non-compete 0 63 83 189
Consolidated FFO 15,277 11,016 40,068 27,208
<FN>
<F1>
The impact of conforming to the amended definition of Funds from
operations (FFO) published by the National Association of Real
Estate Investment Trusts and effective in 1996 was to reduce FFO
by approximately $154,000 and $425,000, and $246,000 and $333,000
for the three and nine months ended September 30, 1996 and 1995,
respectively. The reductions relate to amortization of loan fees
and depreciation of non-revenue producing assets.
</FN>
</TABLE>
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<PAGE>
SUSA PARTNERSHIP, L.P.
FINANCIAL AND OPERATIONAL HIGHLIGHTS
(in thousands)
<TABLE>
<CAPTION>
Nine Nine
Same Quarter Quarter Months Months
Store ended ended ended ended
results Sept. 30, Sept. 30, Sept. 30, Sept. 30,
(% growth): 1996 1995 1995 1995
<S> <C> <C> <C> <C>
Revenues $18,792(7.1%) $17,551 $39,537(7.2%) $36,878
NOI $13,114(6.1%) $12,363 $27,407(5.6%) $25,958
<CAPTION>
Selected As of As of
Financial September 30, December 31,
Data: 1996 1995
<S> <C> <C>
Investment
in storage
facilities
at cost $727,529 $509,297
Total assets $719,665 $509,525
Line of
credit
borrowings $66,138 $107,605
Mortgages
payable $17,972 $6,670
Total
liabilities $108,545 $124,389
Total
Partnership
capital $611,120 $385,136
Operating
partnership
units
outstanding 25,928 18,587
</TABLE>
