SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) May 28, 1999
LIBERTY HOUSING PARTNERS LIMITED PARTNERSHIP
(Exact name of registrant as specified in charter)
Massachusetts 0-13520 04-2828131
(State or other (Commission file (IRS employer
jurisdiction of number) identification no.)
incorporation)
100 Second Avenue, Needham, MA 02494
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (781) 444-5251
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Item 2. Acquisition or Disposition of Assets.
On May 28, 1999, the Registrant sold its 98% interest as a limited
partner (the "Partnership Interest") in Fiddlers Creek Apartments ("Fiddlers")
to a limited liability company (the "Purchaser") organized by Billy P. Shadrick
and Donald R. Shamblin (collectively, the "Principals"). Mr. Shadrick is the
principal owner of Housing Management, Inc., the company which had been engaged
by Fiddlers to manage its apartment complex (the "Manager"). Mr. Shadrick is
also the local general partner of Glendale Manor Apartments ("Glendale"), Surry
Manor, Ltd. ("Surry"), Oxford Homes for the Elderly, Ltd. ("Oxford"),
Williamston Homes for the Elderly, Ltd. ("Williamston") and Fuquay-Varina Homes
for the Elderly, Ltd. ("Fuquay-Varina"). The Registrant holds 98% limited
partnership interests in each of Glendale, Surry, Oxford, Williamston and
Fuquay-Varina. The Manager also manages the apartment complexes owned by
Glendale, Surry, Oxford, Williamston and Fuquay-Varina.
In consideration for the sale of the Partnership Interest, the
Registrant received a net cash purchase price of $483,451.24. In connection with
the sale, the Purchaser purchased from the present holders the Purchase Money
Notes (the "Notes") issued by the Registrant in connection with its acquisition
of the Partnership Interest and released the Registrant from all liabilities in
connection with the Notes. The consideration received by the Registrant was
determined through arms' length negotiation between the Registrant and the
Principals.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(b) Pro Forma Financial Information.
The registrant intends to file any pro forma financial information
required pursuant to Article 11 of Regulation S-X on or before August 11, 1999.
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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.
LIBERTY HOUSING PARTNERS LIMITED PARTNERSHIP
By: TNG Properties Inc.
Managing General Partner
By: /s/ Wilma R. Brooks
Wilma R. Brooks
Chief Financial Officer
Date: June 14, 1999
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