<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
Quarterly Report Under Section 13 or 15(d)
of the Securities Exchange Act of 1934
FOR QUARTER ENDED SEPTEMBER 30, 1995
COMMISSION FILE NUMBER 2-82090
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
A CALIFORNIA LIMITED PARTNERSHIP
I.R.S. EMPLOYER IDENTIFICATION NO. 95-3778627
9090 Wilshire Blvd., Suite 201,
Beverly Hills, CA. 90211
Registrant's Telephone Number,
Including Area Code (310) 278-2191
Securities Registered Pursuant to
Section 12(b) or 12(g) of the Act
NONE
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed with the Commission by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding twelve months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Yes X No
--- ---
<PAGE> 2
REAL ESTATE ASSOCIATES LIMITED VI AND
SUBSIDIARIES (A CALIFORNIA
LIMITED PARTNERSHIP)
INDEX TO FORM 10-Q
FOR THE QUARTER ENDED SEPTEMBER 30, 1995
<TABLE>
<S> <C>
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
Consolidated Balance Sheets,
September 30, 1995 and December 31, 1994 . . . . . . . . . . . . . . . . . . . . . . . . . 1
Consolidated Statements of Operations,
Nine and Three Months Ended, September 30, 1995 and 1994 . . . . . . . . . . . . . . . . . 2
Consolidated Statement of Partners' Deficiency
Nine Months Ended September 30, 1995 . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Consolidated Statements of Cash Flows
Nine Months Ended September 30, 1995 and 1994 . . . . . . . . . . . . . . . . . . . . . . 4
Notes to Consolidated Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
PART II. OTHER INFORMATION
Item 1. Legal Proceedings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Item 6. Exhibits and Reports on Form 8-K . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Signatures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
</TABLE>
<PAGE> 3
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
CONSOLIDATED BALANCE SHEETS
SEPTEMBER 30, 1995 AND DECEMBER 31, 1994
<TABLE>
<CAPTION>
ASSETS
1995 1994
(Unaudited) (Audited)
----------- -----------
<S> <C> <C>
INVESTMENTS IN LIMITED PARTNERSHIPS $ 5,238,597 $ 5,213,864
RENTAL PROPERTY, NET 7,391,870 7,638,829
CASH AND CASH EQUIVALENTS 5,019,352 5,072,944
CASH, RESTRICTED 84,900 84,900
SHORT-TERM INVESTMENTS 125,000 125,000
RECEIVABLES FROM LIMITED PARTNERSHIPS 186,750 257,250
OTHER ASSETS 332,894 332,894
----------- -----------
TOTAL ASSETS $18,379,363 $18,725,681
=========== ===========
LIABILITIES AND PARTNERS' DEFICIENCY
LIABILITIES:
Mortgage notes payable $ 9,993,001 $ 9,993,001
Notes payable 5,795,000 5,795,000
Accrued interest payable 5,124,877 4,834,545
Accounts payable 125,436 106,495
Other liabilities 133,119 133,119
----------- -----------
21,171,433 20,862,160
PARTNERS' DEFICIENCY (2,792,070) (2,136,479)
----------- -----------
TOTAL LIABILITIES AND PARTNERS' DEFICIENCY $18,379,363 $18,725,681
=========== ===========
</TABLE>
The accompanying notes are an integral part of these financial statements.
1
<PAGE> 4
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
CONSOLIDATED STATEMENTS OF OPERATIONS
NINE AND THREE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
(Unaudited)
<TABLE>
<CAPTION>
Nine months Three months Nine months Three months
ended ended ended ended
Sept. 30, 1995 Sept. 30, 1995 Sept. 30, 1994 Sept. 30, 1994
-------------- -------------- -------------- --------------
<S> <C> <C> <C> <C>
RENTAL OPERATIONS
Revenues $2,035,583 $ 683,635 $2,045,865 $ 679,179
---------- --------- ---------- ---------
Expenses:
Operating 1,141,766 412,069 1,170,241 451,305
Depreciation and amortization 246,959 51,103 278,605 89,117
Management fees-affiliate 60,374 19,649 57,656 18,718
Interest 762,677 254,136 764,584 254,694
---------- --------- ---------- ---------
2,211,776 736,957 2,271,086 813,834
---------- --------- ---------- ---------
Loss From Rental Operations (176,193) (53,322) (225,221) (134,655)
---------- --------- ---------- ---------
PARTNERSHIP OPERATIONS
Revenues:
Interest income 133,549 42,059 185,692 54,722
Equity in income of limited
partnerships and amortization of
acquisition costs 279,000 93,000 87,000 29,000
Distributions recognized as income 235,771 10,588 506,809 31,750
---------- --------- ---------- ---------
648,320 145,647 779,501 115,472
---------- --------- ---------- ---------
Expenses:
Management fees-general partner 401,617 133,872 468,090 156,030
Interest expense 389,738 129,913 389,738 129,913
General and administrative 205,263 197,076 146,663 25,217
Mortgage brokerage commission
to general partner 131,100 - - -
---------- --------- ---------- ---------
1,127,718 460,861 1,004,491 311,160
---------- --------- ---------- ---------
Loss From Partnership Operations (479,398) (315,214) (224,990) (195,688)
---------- --------- ---------- ---------
NET LOSS $ (655,591) $(368,536) $ (450,211) $(330,343)
========== ========= ========== =========
NET LOSS PER PARTNERSHIP
INVESTMENT INTEREST $ (39) $ (22) $ (27) $ (20)
========== ========= ========== =========
</TABLE>
The accompanying notes are an integral part of these financial statements.
2
<PAGE> 5
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
CONSOLIDATED STATEMENT OF PARTNERS' DEFICIENCY
NINE MONTHS ENDED SEPTEMBER 30, 1995
(Unaudited)
<TABLE>
<CAPTION>
General Limited
Partners Partners Total
------------ ------------ ------------
<S> <C> <C> <C>
PARTNERSHIP INTERESTS
September 30, 1995 16,810
===========
PARTNERS' DEFICIENCY
at January 1, 1995 $(372,554) $(1,763,925) $(2,136,479)
Net loss for the nine months
ended September 30, 1995 (6,556) (649,035) (655,591)
--------- ----------- -----------
PARTNERS' DEFICIENCY
at September 30, 1995 $(379,110) $(2,412,960) $(2,792,070)
========= =========== ===========
</TABLE>
The accompanying notes are an integral part of these financial statements.
3
<PAGE> 6
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
CONSOLIDATED STATEMENTS OF CASH FLOWS
NINE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
(Unaudited)
<TABLE>
<CAPTION>
1995 1994
---------- ----------
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (655,591) $ (450,211)
Adjustments to reconcile net loss to net cash
provided by (used in) operating activities:
Equity in income of limited partnerships (282,600) (105,000)
Amortization of acquisition costs 3,600 18,000
Depreciation and amortization 246,959 278,605
Decrease in receivables from limited partnerships 70,500
Decrease in other assets - 169,000
Increase (decrease) in -
Accrued interest payable 290,332 243,400
Accounts payable 18,941 (2,085)
---------- ----------
Net cash provided by (used in) operating activities (307,859) 151,709
---------- ----------
CASH FLOWS FROM INVESTING ACTIVITIES:
Distributions from limited partnerships
recognized as a return of capital 254,267 224,197
---------- ----------
NET (DECREASE) INCREASE IN CASH AND
CASH EQUIVALENTS (53,592) 375,906
CASH AND CASH EQUIVALENTS, beginning of period 5,072,944 5,010,767
---------- ----------
CASH AND CASH EQUIVALENTS, end of period $5,019,352 $5,386,673
========== ==========
</TABLE>
The accompanying notes are an integral part of these financial statements.
4
<PAGE> 7
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 1995
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
GENERAL
The information contained in the following notes to the financial
statements is condensed from that which would appear in the audited
annual financial statements; accordingly, the financial statements
included herein should be reviewed in conjunction with the financial
statements and related notes thereto contained in the annual report
for the year ended December 31, 1994 prepared by Real Estate
Associates Limited VI and Subsidiaries (the "Partnership"). National
Partnership Investments Corp. ("NAPICO") is the corporate general
partner of the Partnership. Accounting measurements at interim dates
inherently involve greater reliance on estimates than at year end.
The results of operations for the interim periods presented are not
necessarily indicative of the results for the entire year.
In the opinion of the Partnership, the accompanying unaudited
financial statements contain all adjustments (consisting primarily of
normal recurring accruals) necessary to present fairly the financial
position of the Partnership at September 30, 1995 and the results of
operations for the three and nine months then ended and changes in
cash flows for the nine months then ended.
PRINCIPLES OF CONSOLIDATION
The consolidated financial statements include the accounts of Real
Estate Associates Limited VI and its majority-owned general
partnerships. All significant intercompany accounts and transactions
have been eliminated in consolidation.
METHOD OF ACCOUNTING FOR INVESTMENT IN THE UNCONSOLIDATED LIMITED
PARTNERSHIPS
The investments in unconsolidated limited partnerships are accounted
for on the equity method. Acquisition, selection and other costs
related to the acquisition of the projects are capitalized as part of
the investment account.
NET LOSS PER LIMITED PARTNERSHIP INTEREST
Net loss per limited partnership interest was computed by dividing the
limited partners' share of net loss by the number of limited
partnership interests outstanding during the year. The number of
limited partnership interests was 16,810 for the periods presented.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents consist of unrestricted cash and bank
certificates of deposit with maturities of three months or less.
Restricted cash consist of tenants' security and escrow deposits and
mortgage impounds.
5
<PAGE> 8
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 1995
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
SHORT-TERM INVESTMENTS
Short-term investments consit of bank certificates of deposit with
original maturities ranging from more than three months to twelve
months. The fair value of these securities, which have been
classified as held for sale, approximates their carrying value.
INCOME TAXES
No provision has been made for income taxes in the accompanying
financial statements since such taxes, if any, are the liability of
the individual partners.
RENTAL PROPERTY AND DEPRECIATION
Rental property is stated at cost. Depreciation is provided on the
straight-line and accelerated methods over the estimated useful lives
of the buildings and equipment. Pursuant to a purchase agreement in
which the Partnership acquired its interest from withdrawing general
partners, certain rental property was revalued to reflect the purchase
price.
Substantially all of the apartment units are leased on a
month-to-month basis.
NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIPS
The Partnership holds limited partnership interests in 29 local
limited partnerships as of September 30, 1995, and general partner
interests in an additional two general partnerships. In addition,
REAL VI holds a general partner interest in Real Estate Associates III
("REA III"), a California general partnership. NAPICO is also a
general partner in REA III. REA III, in turn, holds a general partner
interest in one local general partnership and limited partner
interests in seven local limited partnerships. In total, therefore,
the Partnership holds interests, either directly or indirectly through
REA III, in 36 local partnerships which own residential rental
projects consisting of 3,063 apartment units. The mortgage loans of
these projects are insured by various governmental agencies.
The Partnership, as a limited partner, is entitled to between 90
percent and 99 percent of the profits and losses of the limited
partnerships it has invested in directly. The Partnership is also
entitled to 99.9 percent of the profits and losses of REA III. REA
III holds a 99 percent interest in each of the limited partnerships in
which it has invested.
As of September 30, 1995, the Partnership is obligated, if certain
conditions are met, to invest an additional $90,500 in its investee
partnerships at various times in the future. This amount has not been
recorded as a liability in the accompanying financial statements.
6
<PAGE> 9
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 1995
NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIP (CONTINUED)
In 1993, a limited partnership (Lincoln Mariner's Associates Limited)
entered into a Loan Agreement with the City of San Diego to issue of
new Mortgage Revenue Funding Bonds to refinance the mortgage and
refund the bonds. The Partnership and N.C. Lincoln Company (an
affiliate of the general partner of Lincoln Mariner's Associates
Limited) each loaned Lincoln Mariner's Associates Limited $382,500, to
pay the costs and expenses in connection with the refunding and
refinancing. These loans were paid by September 1, 1995.
Two local limited partnerships recently participated in refinancing
their Taxable Mortgage Revenue Refunding Bonds. Fillmore Investors,
Ltd. refunded the bond issue, consisting of $5,185,000 and $2,515,000
in Tax-Exempt Mortgage Revenue Refunding Bonds, Series 1995A and
Series 1995A-1, respectively, and $160,000 in Taxable Mortgage Revenue
Refunding Bonds, Series 1995B, for a total of $7,860,000. By
completing the transaction, the local partnership benefits from a
reduction of the mortgage interest rate, from 11.61% to a rate not to
exceed 8.75%. Furthermore, all costs associated with the transaction
were born by ("HUD".) All debt service savings will be realized by
the City of Phoenix and HUD until the expiration of the Housing
Assistance Payments ("HAP") Contract in 2003; thereafter, the local
partnership will realize all debt service savings from 2003 until the
mortgage matures in 2024. Also, Boynton Associates, Ltd. refunded
bond issue, consisting of $4,375,000 of Multifamily Housing Revenue
Refunding Bonds, Series 1995A and $875,000 in Taxable Multifamily
Housing Revenue Refunding Bonds, Series 1995B, for a total of
$5,250,000. By completing this transaction, the local partnership
will benefit by sharing in the debt service savings resulting from a
reduction in the mortgage interest rate. Ten percent (10%) of these
savings will be deposited in the Replacement Reserve account, under
the control of HUD, for the benefit of the property.
Equity in losses of unconsolidated limited partnerships is recognized
in the financial statements until the limited partnership investment
account is reduced to a zero balance or to a negative amount equal to
further capital contributions required. Losses incurred after the
limited partnership investment account is reduced to zero are not
recognized.
Distributions from the unconsolidated limited partnerships are
accounted for as a return of capital until the investment balance is
reduced to zero. Subsequent distributions received are recognized as
income.
The following is a summary of the investment in unconsolidated limited
partnerships as of September 30, 1995:
<TABLE>
<S> <C>
Balance, beginning of period $5,213,864
Equity in income of limited partnerships 282,600
Amortization of acquisition costs (3,600)
Cash distributions recognized as a return of capital (254,267)
----------
Balance, end of period $5,238,597
==========
</TABLE>
7
<PAGE> 10
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 1995
NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIP (CONTINUED)
The following are unaudited combined estimated statements of
operations of the unconsolidated limited partnerships in which the
Partnership has investments:
<TABLE>
<CAPTION>
Nine months Three months Nine months Three months
ended ended ended ended
Sept. 30, 1995 Sept. 30, 1995 Sept. 30, 1994 Sept. 30, 1994
-------------- -------------- -------------- --------------
<S> <C> <C> <C> <C>
Income:
Rental and other $15,495,000 $ 5,165,000 $15,273,000 $5,091,000
----------- ----------- ----------- ----------
Expenses:
Depreciation 2,640,000 880,000 2,676,000 892,000
Interest 4,464,000 1,488,000 5,154,000 1,718,000
Operating expenses 9,618,000 3,206,000 8,901,000 2,967,000
----------- ----------- ----------- ----------
Total expenses 16,722,000 5,574,000 16,731,000 5,577,000
----------- ----------- ----------- ----------
Net loss $(1,227,000) $ (409,000) $(1,458,000) $ (486,000)
----------- ----------- ----------- ----------
</TABLE>
NAPICO, or one of its affiliates, is the general partner and property
management agent for certain of the limited partnerships included
above.
NOTE 3 - MORTGAGE NOTES PAYABLE
The mortgage notes have rates of 9.5 percent per annum with principal
and interest payments due monthly. The notes have maturity dates
ranging from September 1996 to January 1997.
These notes are collateralized by the underlying rental properties.
NOTE 4 - NOTES PAYABLE
Certain of the Partnership's investments involved purchases of
partnership interests from partners who subsequently withdrew from the
operating partnership. The purchase of these interests provides for
additional cash payments of approximately $325,000 based upon
specified events as outlined in the purchase agreements. Such amounts
have been recorded as liabilities. In addition, the Partnership is
obligated on non-recourse notes payable of $5,470,000 which bear
interest at 9.5 percent and have principal maturities ranging from
December 1996 to December 2012. The notes and related interest are
payable from cash flow generated from operations of the related rented
properties as defined in the notes. These obligations are
collateralized by the Partnership's investments in the limited
partnerships. Unpaid interest equal to $5,124,877 at September 30,
1995, is due at maturity of the notes.
8
<PAGE> 11
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 1995
NOTE 5 - MANAGEMENT FEES AND EXPENSES DUE TO GENERAL PARTNER
Under the terms of the Restated Certificate and Agreement of Limited
Partnership, the Partnership is obligated to the corporate general
partner for an annual management fee of approximately .5 percent of
the original invested assets of the limited partnerships. Invested
assets are defined as the costs of acquiring project interests,
including the proportionate amount of the mortgage loans related to
the Partnership's interests in the capital accounts of the respective
partnerships. This fee was approximately $402,000 and $468,000 for
the nine months ended September 30, 1995 and 1994, respectively.
The Partnership reimburses NAPICO for certain expenses. In 1995, the
reimbursement to NAPICO of $32,797 has been paid and included in the
Partnership's operating expenses.
A mortgage brokerage commission of $131,100 was paid to the general
partner for its involvement in refinancing the mortgages of two local
partnership properties.
NOTE 6 - CONTINGENCIES
The corporate general partner of the Partnership and the Partnership
are plaintiffs in various lawsuits and have also been named defendants
in other lawsuits arising from transactions in the ordinary course of
business. In the opinion of management and the corporate general
partner, the claims will not result in any material liability to the
Partnership.
9
<PAGE> 12
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
SEPTEMBER 30, 1995
ITEM 2. MANAGEMENT'S ANALYSIS AND DISCUSSION OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
LIQUIDITY AND CAPITAL RESOURCES
The Partnership's primary sources of funds include interest income on
short term investments and distributions from limited partnerships in
which the Partnership has invested. It is not expected that any of
the local limited partnerships in which the Partnership has invested
will generate cash flow sufficient to provide for distributions to
limited partners in any material amount.
The Partnership has committed as of September 30, 1995 to investments
in limited partnerships requiring additional capital contributions of
$90,500. The Partnership normally makes its capital contributions to
the local limited partnerships in stages, over a period of two to five
years, with each contribution due on a specified date, provided that
certain conditions regarding construction or operation of the project
have been fulfilled. The Partnership has no significant commitments
once the capital contributions have been made.
The Partnership is obligated on notes payable of $5,795,000 bearing
interest at 9.5 percent, payable at maturity dates ranging from
December 1996 to December 2012 or upon sale or refinancing of the
underlying partnership properties unpaid interest, equal to $5,124,877
at September 30, 1995 is due at maturity of the notes.
RESULTS OF OPERATIONS
Rental revenues and expenses incurred to operate the rental properties
are consistent with the prior year.
Partnership revenues consist primarily of interest income earned on
certificates of deposit and other temporary investment of funds not
required for investment in local partnerships.
Operating expenses consist primarily of recurring general and
administrative expenses and professional fees for services rendered to
the Partnership. In addition, an annual Partnership management fee in
an amount equal to .5 percent of invested assets is payable to the
corporate general partner. General and administrative expenses are
higher in 1995 than in 1994 primarily because of expenditures for
litigation regarding a dispute with a local partnership general
partner.
A mortgage brokerage commission of $131,100 was paid to the general
partner for its involvement in refinancing the mortgages of two local
partnership properties.
The Partnership accounts for its investments in the local limited
partnerships on the equity method, thereby adjusting its investment
balance by its proportionate share of the income or loss of the local
limited partnerships. Losses incurred after the limited partnership
investment account is reduced to zero are not recognized.
10
<PAGE> 13
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
SEPTEMBER 30, 1995
ITEM 2. MANAGEMENT'S ANALYSIS AND DISCUSSION OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
RESULTS OF OPERATIONS (CONTINUED)
Distributions received from limited partnerships are recognized as
return of capital until the investment balance has been reduced to
zero or to a negative amount equal to future capital contributions
required. Subsequent distributions received are recognized as income.
Distributions recognized as income were higher in 1994 than in 1995
because a cash distribution was received and recognized as income in
1994 from a limited partnership who had positive cash flow due to
refinancing its mortgage.
Except for certificates of deposit and money market funds, the
Partnership's investments are entirely from interests in other limited
and general partnerships owning government assisted projects. Funds
temporarily not required for such investments in projects are invested
providing interest income as reflected in the statement of operations.
These funds can be converted to cash to meet obligations as they
arise. The Partnership intends to continue investing available funds
in this manner.
The Partnership, as a limited or general partner in the local
partnerships in which it has invested, is subject to the risks
incident to the construction, management, and ownership of improved
real estate. The Partnership investments are also subject to adverse
general economic conditions and accordingly, the status of the
national economy, including substantial unemployment and concurrent
inflation, could increase vacancy levels, rental payment defaults, and
operating expenses, which in turn, could substantially increase the
risk of operating losses for the projects.
11
<PAGE> 14
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A CALIFORNIA LIMITED PARTNERSHIP)
SEPTEMBER 30, 1995
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
The corporate general partner is a plaintiff or defendant in several suits,
including the following related to REAL VI as of September 30, 1995.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) No exhibits are required per the provision of item 7 of
regulation S-K.
12
<PAGE> 15
REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A LIMITED PARTNERSHIP)
SEPTEMBER 30, 1995
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 thereunto duly authorized.
REAL ESTATE ASSOCIATES LIMITED VI AND
SUBSIDIARIES (a California limited partnership)
By: National Partnership Investments
Corp., General Partner
Date:______________________________________
By:________________________________________
Bruce Nelson
President
Date:_____________________________________
By:________________________________________
Shawn Horwitz
Executive Vice President and
Chief Financial Officer
13
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
PARTNERSHIP'S STATEMENTS OF EARNINGS AND BALANCE SHEETS AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> SEP-30-1995
<CASH> 5,019,352
<SECURITIES> 0
<RECEIVABLES> 186,750
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 5,149,352
<PP&E> 11,942,849
<DEPRECIATION> 4,649,815
<TOTAL-ASSETS> 18,379,363
<CURRENT-LIABILITIES> 125,436
<BONDS> 0
<COMMON> 0
0
0
<OTHER-SE> (2,792,070)
<TOTAL-LIABILITY-AND-EQUITY> 18,379,363
<SALES> 0
<TOTAL-REVENUES> 2,683,903
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 2,187,079
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,152,415
<INCOME-PRETAX> (655,591)
<INCOME-TAX> 0
<INCOME-CONTINUING> (655,591)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (655,591)
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
