UNITED STATES 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) July 29, 1997
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REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP II
(Exact Name of Registrant as specified in its Charter)
Delaware 0-11909 16-1212761
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(State of Formation) (Commission File No.) (IRS Employer
Identification No.)
2350 North Forest Road
Suite 12-A
Getzville, New York 14068
(Address of Principal Executive Office)
Registrant's Telephone Number: (716) 636-0280
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ITEM 5. OTHER EVENTS.
On July 16, 1997 the Partnership, and other limited partnerships in which
Realmark Properties Inc., the Partnership's Corporate General Partner, serves as
general partner, entered into contracts to sell multi-family residential
properties, which included Foxhunt Apartments, to Partnership Equities, Inc. of
Columbus, Ohio. Partnership Equities is not affiliated with the Partnership, the
Corporate General Partner, or any affiliate of either.
The Corporate General Partner, acting under authority contained in the Limited
Partnership Agreement, and on behalf of the best interests of the Limited
Partners, entered into the contract on behalf of the Partnership with the belief
that the price and terms are fair to the Partnership.
The contract was subject to a number of contingencies, including, but not
limited to, the following: satisfactory title reports, satisfactory engineering
reports on the condition of the improvements, and availability of government
allocations allowing the property to qualify for a tax credit program.
The contract for the sale of Foxhunt Apartments was terminated recently. The
local government was opposed to a one-hundred percent low income housing
project, and accordingly would not support the issuance of the tax exempt bonds
through the State Housing Agency. Due to the opposition from the local
government, the purchaser decided that the likelihood of obtaining a bond
allocation would be difficult and opted to terminate the contract.
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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.
REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP II
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(Name of Registrant as Specified in Charter)
Date: 7/31/97 /s/Joseph M. Jayson
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Joseph M. Jayson,
President and Director
