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) September 25, 1998
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REAL-Equity Partners
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(Exact Name of Registrant as Specified in its Charter)
California 000-29766 95-3881219
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(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification
incorporation) No.)
9090 Wilshire Boulevard, Beverly Hills, California 90211
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(Address of Principal Executive Offices) (Zip Code)
(Registrant's Telephone Number, Including Area Code (310) 278-2191
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(Former Name or Former Address, If Changed Since Last Report.)
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ITEM 5. Other Events.
Real-Equity Partners, a California limited partnership (the
"Registrant"), is filing this Current Report on Form 8-K in connection with its
press release dated October 8, 1998 announcing that it had entered into a
purchase and sale agreement with JH Real Estate Partners, Inc., a California
corporation, and American Apartment Communities III, L.P., a Delaware limited
partnership (the "Buyer"). The agreement relates to the proposed sale of the
Registrant's real estate assets to the Buyer for $31,900,000 in cash subject to
the assumption of certain mortgage indebtedness. The Registrant owns four
residential apartment buildings in California and one in Nevada.
An offer to purchase the real estate assets of the Registrant
made by affiliates of the managing general partner of the Registrant has been
withdrawn.
ITEM 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(c) Exhibits.
Exhibit Description
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1 Press Release, dated October 8, 1998.
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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.
REAL-Equity Partners,
A California Limited Partnership
By: NATIONAL PARTNERSHIP INVESTMENTS CORP.,
a General Partner
By: /s/ Henry C. Casden
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Name: Henry C. Casden
Title: Senior Executive Vice
President
Date: October 8, 1998
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EXHIBIT INDEX
Exhibit Description
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1 Press Release, dated October 8 , 1998.
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Exhibit 1
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FOR IMMEDIATE RELEASE
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Beverly Hills, California, October 8, 1998: Real-Equity Partners, a California
limited partnership (the "Partnership") announced today that it had entered into
a purchase and sale agreement with JH Real Estate Partners, Inc., a California
corporation, and American Apartment Communities III, L.P., a Delaware limited
partnership (the "Buyer"). The agreement relates to the proposed sale of the
Partnership's real estate assets to the Buyer for $31,900,000 in cash subject to
the assumption of certain mortgage indebtedness. The Partnership owns four
residential apartment buildings in California and one in Nevada.
An offer to purchase the real estate assets of the Partnership made by
affiliates of the managing general partner of the Partnership has been
withdrawn.
For more information please contact Patricia W. Toy of Investor Services at
800-666-6274.
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