FORM 8-K - CURRENT REPORT
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: June 30, 1998
NATIONAL PROPERTY INVESTORS 5
(Exact name of registrant as specified in its charter)
California 0-11095 22-2385051
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification
Number)
One Insignia Financial Plaza
Post Office Box 1089
Greenville, South Carolina 29602
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code (864) 239-1000
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On June 30, 1998, The Village Apartments located in Voorhees Township, New
Jersey, was sold to an unaffiliated party, Village Group Limited Partnership.
The adjusted sales price was $30,102,400. Part of the proceeds were used to pay
off the debt encumbering the property. The Managing General Partner plans to
distribute the net proceeds to the partners during the third quarter of 1998.
National Property Investors 5 (the "Partnership") owned The Village
Apartments as a tenant-in-common with National Property Investors 6 ("NPI 6"),
an affiliated public limited partnership. NPI 6 owned a 75.972% undivided
interest with the Partnership owning the remaining 24.028%.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(b) Pro forma financial information
The required pro forma financial information will be provided in the
Registrant's Quarterly Report on Form 10-QSB for the quarter ended June 30,
1998.
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.
NATIONAL PROPERTY INVESTORS 5
By: NPI EQUITY INVESTMENTS, INC.
Its Managing General Partner
By: /s/ William H. Jarrard, Jr.
William H. Jarrard, Jr.
President and Director
By: /s/ Ronald Uretta
Ronald Uretta
Vice President and Treasurer
Date: July 15, 1998
