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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 AND EXCHANGE ACT OF 1934
November 5, 1996
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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 75231
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (214) 692-4700
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On November 5, 1996, Continental Mortgage and Equity Trust (the "Trust")
purchased the Glenwood Apartments in Addison, Texas for $4.2 million (1.9% of
the Trust's assets at December 31, 1995). The seller of the property was VRRM,
Inc., a Texas corporation. The property was constructed in 1975 and consists
of 168 units which were 92% occupied at the date of acquisition. The Trust paid
$1.3 million in cash and assumed existing mortgage financing of $2.9 million.
This purchase combined with other property purchases the Trust has made in 1996
exceed 10% of the Trust's assets at December 31, 1995.
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 January 6, 1997.
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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: November 15, 1996 By: /s/ Thomas A. Holland
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Thomas A. Holland
Executive Vice President and
Chief Financial Officer
(Principal Financial and
Accounting Officer)
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