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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
December 13, 1994
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Date of Report (Date of Earliest Event Reported)
TRANSCONTINENTAL REALTY INVESTORS, INC.
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(Exact Name of Registrant as Specified in its Charter)
Nevada 0-13291 94-6565852
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(State of Incorporation) (Commission (IRS Employer
File No.) Identification No.)
10670 North Central Expressway, Suite 300, Dallas, TX 75231
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (214) 692-4700
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Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On December 13, 1994, NCPO Texas, Ltd., a Texas limited partnership, purchased
the North Central Plaza One Office Building, a 197,848 square foot office
building in Dallas, Texas for $12.4 million, exclusive of acquisition
commissions and closing costs. The seller of the property was Prudential
Insurance Company of America, a New Jersey corporation. The purchase price was
$4.2 million in cash with the partnership obtaining new mortgage financing of
$8.2 million.
Transcontinental Realty Investors, Inc. ("the Company") is the sole limited
partner of the partnership with a 97.5% limited partner interest. The general
partner of the partnership with a 2.5% general partner interest is Ensearch
Holding Company, a corporation controlled by an adult son of A. Bob Jordan, a
Director of the Company. The Company has the option to acquire such general
partner interest at any time for one dollar. The Company intends to exercise
such option and accordingly has treated the purchase as if it were made by a
wholly-owned subsidiary.
The $12.4 million purchase price is approximately 5.6% of the Company's assets
at December 31, 1993. However, this purchase combined with other property
purchases the Company has made in 1994, exceed 10% of the Company's assets at
December 31, 1993. The seller has informed the Company that audited financial
statements and supporting data relating to the property's operations for 1993
are not available.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a)(3) It is impracticable to provide the required statement of operations for
the property acquired or pro forma financial information. The required
information will be filed by amendment of this Form 8-K as soon as practicable,
but not later than February 13, 1995.
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SIGNATURE
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 hereto duly authorized.
TRANSCONTINENTAL REALTY
INVESTORS, INC.
Date: December 21, 1994 By: /s/ Thomas A. Holland
Thomas A. Holland
Senior Vice President and
Chief Accounting Officer
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