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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
DECEMBER 1, 1997
(Date of Report)
Date of earliest event reported: November 21, 1997
BRADLEY OPERATING LIMITED PARTNERSHIP
(Exact name of Registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
0-23065 04-3306041
(Commission File Number) (I.R.S. Employer Identification No.)
40 SKOKIE BOULEVARD, SUITE 600
NORTHBROOK, ILLINOIS 60062-1626
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(847) 272-9800
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ITEM 5. OTHER EVENTS.
Bradley Operating Limited Partnership (the "Partnership") is the entity
through which Bradley Real Estate, Inc. (the "Company") conducts substantially
all of its business and owns (either directly or through subsidiaries)
substantially all of its assets. The Company has completed the offering of
990,000 shares (the "Shares") of its common stock, par value $.01 per share (the
"Common Stock") on December 1, 1997. The offering of the Shares was made
pursuant to a Pricing Supplement No. 1 dated November 24, 1997 to Prospectus
Supplement dated October 21, 1997 relating to the Prospectus dated June 11,
1997, which was originally filed with the Company's shelf registration statement
on Form S-3 (file no. 333-28167).
The Shares were issued subject to the terms of an Underwriting Agreement
between the Company and PaineWebber Incorporated (the "Underwriter"), dated
October 21, 1997, which contemplates that the offer and sale of the Shares
thereby will be initiated by the Company through the delivery to the Underwriter
of a Securities Purchase Notice. Pursuant to such a Securities Purchase Notice
dated November 21, 1997, the Company has indicated its desire to sell the
990,000 Shares.
The Underwriter proposes to offer the Shares to the public at $20.375 with
estimated net proceeds to the Company from the sale of the Shares of $19,342,600
after deducting the underwriting discount and expenses.
The Company is required to contribute all proceeds from the sale of the
Shares to the Partnership in exchange for additional partnership units.
Following such contribution, the Partnership will use the net proceeds to reduce
outstanding indebtedness incurred under its line of credit with the expectation
that the Company and the Partnership may reborrow under the line for the
acquisition, development, renovation and expansion of properties.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements of Business Acquired: Not Applicable
(b) Pro Forma Financial Information: Not Applicable
(c) Exhibits
99.1 Pricing Supplement No. 1 dated November 24, 1997
to Prospectus Supplement dated October 21, 1997
and Prospectus dated June 11, 1997 (incorporated
by reference to the Pricing Supplement as filed by
Bradley Real Estate, Inc. via EDGAR transmission
on November 26, 1997 pursuant to Rule 424(b)(7)
under the Securities Act of 1933, as amended).
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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 hereunto duly authorized.
Date: December 1, 1997 BRADLEY OPERATING LIMITED
PARTNERSHIP
By: BRADLEY REAL ESTATE, INC.,
its General Partner
By: /s/ Thomas P. D'Arcy
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Thomas P. D'Arcy
President and Chief Executive Officer
