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
SEPTEMBER 22, 1998
Date of report (Date of earliest event reported)
WILSHIRE REAL ESTATE INVESTMENT TRUST INC.
(Exact name of registrant as specified in its charter)
MARYLAND 0-23911 52-2081138
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(State or other Commission File Number (I.R.S. Employer
jurisdiction of dentification
incorporation) Number)
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1776 SW MADISON STREET, PORTLAND, OR 97205
(Address of principal executive offices) (Zip Code)
(503) 223-5600
Registrant's telephone number, including area code
NOT APPLICABLE
Former name or former address, (if changed since last report)
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ITEM 2. SIGNIFICANT ACQUISITION.
On September 22, 1998, Wilshire Real Estate Investment Trust Inc. purchased
the Class M1 Certificate of the WMC Mortgage Pass-Through Certificates, Series
1998-B securitization. The Class M1 Certificates have an original face of
$56,000,000. The bond is rated "AA" and "Aa2" by Standard & Poor's Ratings
Service and Moody's Ratings Service, respectively. The bonds are backed by a
pool of 1st lien, newly originated residential adjustable rate mortgages.
The bond was purchased from Bear Stearns & Co. Inc. and will be financed
with a repurchase agreement plus available cash.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(b) As of the date of this Form 8-K, the applicable pro forma financial
information is not available, but will be filed by the Company on Form 8-K
as soon as practicable.
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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.
WILSHIRE REAL ESTATE
INVESTMENT TRUST INC.
Date: October 14, 1998 By: /S/ CHRIS TASSOS
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Chris Tassos
Executive Vice President and
Chief Financial Officer
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