FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
FEBRUARY 8, 1994
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Date of Report
(Date of Earliest Event Reported)
CENTURY PROPERTIES FUND XIX
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(Exact name of registrant as
specified in its charter)
0-11935 CALIFORNIA 94-2887133
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(Registration (State or Other (IRS Employer
File Jurisdiction of Identification
Number) Incorporation) Number)
950 TOWER LANE, FOSTER CITY, CALIFORNIA 94404
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(415) 378-7000
(800) 366-6707 ... WATS LINE FOR ALL STATES
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
(a) The Registrant was organized to acquire, manage and ultimately
sell income-producing real properties. In the course of its business,
Plantation Forest Apartments, the property providing security on a mortgage
note payable by the Registrant, located in Atlanta, Georgia, was sold on
February 8, 1994.
TERMS OF ORIGINAL ACQUISITION
On June 19, 1984, the Registrant acquired Plantation Forest
Apartments for $3,429,000, of which $1,440,000 represented cash down
payment and $229,000 represented acquisition fees and miscellaneous costs
paid as part of the acquisition of the property. A mortgage loan of
$1,760,000 encumbered the property.
TERMS OF DISPOSITION AND FINANCING
Plantation Forest Apartments was sold for $2,450,000. After
payment of the existing loan of $1,965,000 and expenses of sale of $3,000,
the proceeds to the Registrant were approximately $482,000.
CARRYING AMOUNT AT DATE OF SALE
At the date of sale the carrying amount of land and improvements,
unamortized deferred refinance costs, for financial statement purposes was
$2,596,000. For tax reporting purposes the carrying value of land and
improvements at the date of sale was $1,692,000.
GAIN OR LOSS ON SALE
The estimated loss on the sale of Plantation Forest Apartments
under the accrual method of accounting is $149,000, which will be
recognized in 1994. Under the tax method of accounting, the gain on sale
is $427,000 and ordinary income from depreciation recapture is $328,000.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial statements.
Not applicable.
(b) Pro Forma Financial Information.
Subsequent to the sale and upon receipt, the Registrant will amend
this Report to include pro forma financial statements.
(c) Exhibits.
The Registrant will amend its Form 8-K to include the disposition
documents for Plantation Forest Apartments.
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 thereunto duly authorized.
REGISTRANT
CENTURY PROPERTIES FUND XIX
By:FOX PARTNERS II
Its General Partner
By:FOX CAPITAL MANAGEMENT CORPORATION
A General Partner
By: NPI Equity Investments II, Inc.
("NPI"),
its managing partner
By:/s/ Arthur N. Queler
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Arthur N. Queler
Executive Vice President (Principal
Financial and Accounting Officer)
and Director
NPI
Date: February 17, 1994
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