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) June 13, 1995
Brauvin Real Estate Fund L. P. 3
(Exact name of registrant as specified in its charter)
Delaware 0-11975 36-3290420
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
organization) Number)
150 South Wacker Drive, Suite 3200, Chicago, Illinois 60606
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (312) 443-0922
Not Applicable
(Former name or former address, if changed since last report)
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Item 2.Acquisition or Disposition of Assets
As reported on the Current Report on Form 8-K filed with the Securities and
Exchange Commission dated August 19, 1994, Brauvin Real Estate Fund L.P. 3
(the "Partnership") received a notice of default (the "Notice") from Finova
Capital Corporation, formerly known as Greyhound Real Estate Finance Company
(the "Lender") on the mortgage secured by one of the Partnership's properties
known as Country Club Plaza (the "Property"). The Notice stated the
Partnership had five business from receipt of the Notice to cure the default
or the Lender would exercise its right granted under the security documents,
by and between the Partnership and the Lender. The Partnership decided not to
cure the default and on October 19, 1994, agreed to a joint stipulation for
entry of final judgment of foreclosure and the appointment of a receiver. The
Partnership and Lender further agreed that if the Receiver was unsuccessful in
liquidating the property by May 31, 1995, the Lender would immediately
thereafter obtain a sale date for the Property to be sold at a foreclosure
sale which would take place no later than June 30, 1995. On May 31, 1995, a
Certificate of Sale was filed in Brevard County, Florida and on June 13,
1995, title of the Property was transferred to the Lender.
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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 thereunto duly authorized.
BRAUVIN REAL ESTATE FUND L.P. 3
By: Brauvin Realty Partners, Inc.
Corporate General Partner
By: /s/ Jerome J. Brault
President and Chief Executive Officer
Dated: June 26, 1995
