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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
JULY 31, 1995
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DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
CONTINENTAL MORTGAGE AND EQUITY TRUST
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(Exact name of registrant as specified in its charter)
California 0-10503 94-2738844
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(State of Incorporation) (Commission (IRS Employer
File No.) Identification No.)
10670 North Central Expressway, Suite 300, Dallas, TX 75234
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(Address of principal executive officers) (Zip Code)
Registrant's telephone number, including area code: (214) 692-4700
Not Applicable
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(Former name or former address, if changes since last report)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On July 31, 1995, Continental Mortgage and Equity Trust (the "Trust") purchased
McCallum Glen Apartments in Dallas, Texas for $6.0 million. The seller of the
property was SII-Glen, Ltd., a Texas limited partnership. The property was
constructed in 1986 and consists of 275 units that are 97% occupied. The Trust
paid $1.8 million in cash and obtained new mortgage financing in the amount of
$4.2 million.
The $6.0 million purchase price is approximately 3.3% of the Trust's assets at
December 31, 1994. However, this purchase combined with other property
purchases the Trust has made in 1995, exceed 10% of the Trust's assets at
December 31, 1994. The seller has informed the Trust that audited financial
statements and supporting data relating to the property's operations for 1994
are not available.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a)(3) It is impracticable to provide the required statement of operations for
the property acquired or pro forma financial information. The required
information will be filed by amendment of this Form 8-K as soon as practicable,
but not later than September 29, 1995.
SIGNATURE
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 hereto duly authorized.
CONTINENTAL MORTGAGE AND
EQUITY TRUST
Date: August 16, 1995 By: /s/ Thomas A. Holland
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Thomas A. Holland
Senior Vice President and
Chief Accounting Officer
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