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
Date of Report (Date of earliest event reported)
March 2, 1998
E & J PROPERTIES, LTD.
a California Limited Partnership
(Exact name of registrant as specified in charter)
California
(State or other jurisdiction of incorporation)
O-9608
(Commission File Number)
94-2763152
(IRS Employer Identification Number)
2710 Gateway Oaks Drive, Suite 300 South
Sacramento, California 95833
(Address of principal executive office)
Registrant's telephone number, including area code: (916) 925-6620
ITEM 5. OTHER MATERIAL EVENTS
E & J Properties, Ltd, a California Limited Partnership, has entered into an
agreement to sell approximately
1,850 acres of its real estate holdings in Sacramento County, California,
commonly known as the Elliott Ranch, to AKT Development Corporation, a
California corporation. The President of AKT Development Corporation is Angelo
K. Tsakopoulos.
Under the terms of the sale agreement, the Buyer has until May 26, 1998 to
conduct feasibility studies of the property to be purchased. If, on or before
May 26, 1998, the Buyer determines for any reason that it does not want to
consummate the purchase, it may cancel the sale and receive full refund of its
deposit. If, on or before, May 26, 1998, the Buyer notifies E & J Properties,
Ltd., that it has decided to consummate the purchase, then the Buyer is
obligated to close escrow on or before June 25, 1998. The purchase price is
$12,825,000.00, payable in cash at close of escrow.
Should this sale be consummated, E & J Properties, Ltd.'s remaining real estate
holdings will consist of approximately fifty (50) acres of agricultural
property in Sacramento County, adjacent to the Elliott Ranch, together with
various mineral rights reserved from prior real estate sales.
E & J Properties, Ltd, is represented in the sale by Doug Elmore of Brown,
Stevens, Elmore and Sparre, commercial real estate brokers. E & J Properties,
Ltd. will pay a brokerage commission to Mr. Elmore upon close of escrow.
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this
Report to be signed on its behalf by the undersigned, hereunder duly authorized.
Date: March 2, 1998
E & J PROPERTIES, LTD.
a California Limited Partnership
By: /s/ Elaine McKeon
ELAINE McKEON
General Partner
