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) March 30, 2000
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Presidential Realty Corporation
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(Exact name of registrant as specified in charter)
DELAWARE 1-8594 13-1954619
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
180 South Broadway, White Plains, New York 10605
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (914) 948-1300
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No change since last Report
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(Former name or former address, if changed since
last report)
Item 2. Acquisition or Disposition of Assets.
(a) On March 30, 2000 the Company acquired Preston Lake Apartments, a 320
unit garden apartment property in Norcross, Georgia (a suburb of
Atlanta), from EQR Preston Lake Vistas, Inc. The purchase price for the
property was $17,450,000. The purchase price was paid with the proceeds
of a new $14,000,000 first mortgage loan from Continental Wingate
Associates, Inc. and with cash from the Company's available funds. The
amount of the purchase price was determined by arms-length negotiations
between the Company and the seller and was supported by an appraisal
obtained by the Lender in connection with the purchase money loan.
Financial statements and pro forma financial information required by
Form 8-K will be filed by Amendment to this Form 8-K not later than
sixty days after the date hereof.
(b) not applicable.
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.
Date: April 10, 2000 PRESIDENTIAL REALTY CORPORATION
By: Jeffrey F. Joseph
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Jeffrey F. Joseph
President
