SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) JUNE 30, 1998
PROPERTY RESOURCES FUND VI
(Exact Name of Registrant as Specified in its Charter)
CALIFORNIA 2-77330 94-2838890
State or other jurisdiction Commission File IRS Employer
of incorporation Number Identification Number
1800 GATEWAY DRIVE, SAN MATEO, CA 94404
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (415)312-3000
ITEM 2: DISPOSITION OF ASSETS.
Grouse Run Apartments Limited Partnership
Oklahoma City, Oklahoma
On June 30, 1998, pursuant to a contract entered into on May 11, 1998,
Property Resources Fund VI (the "Registrant") sold the Grouse Run Apartment
Building, located in Oklahoma City, Oklahoma (the "Property").
The Property was sold for all cash at a gross price of $6,902,500.00. The
unaffiliated purchaser was Grouse Run Apartments Limited Partnership, an
Oklahoma limited partnership ("Buyer"). A real estate brokerage commission
of $138,050 was paid to CB Commercial Real Estate Group, Inc., an
unaffiliated real estate broker retained by the Registrant under a listing
agreement dated January 27, 1998 and $69,025 was paid to Case & Associates
Properties, Inc., an affiliate of the Buyer. The Property was purchased by
the Registrant in November of 1983. The total all cash cost of the Property
(including closing costs and acquisition fees) was $9,713,000.
THE PROCEEDS TO THE REGISTRANT FROM THE SALE ARE AS FOLLOWS:
Sales Price $6,902,500
Less:
Brokerage Commissions 207,075
Closing Costs 17,104
Secured First Mortgage 3,836,906
Closing Pro-rations 72,900
Net Cash Proceeds to $2,768,515
the Registrant
There was no material relationship between the Buyer and the Registrant or
any of the affiliates, directors or officers of the Registrant or the Advisor
or any associate of any director or officer of the Registrant or the Advisor.
ITEM 7: PRO FORMA FINANCIAL INFORMATION
Pro Forma Financial Information is not included in this report, and will be
filed by amendment within sixty (60) days from the date of this report.
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 heretofore duly authorized.
Dated: July 15, 1998 PROPERTY RESOURCES, INC.,
General Partner of Property Resources Fund VI
BY: /s/ David P. Goss
David P. Goss
President
