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): January 31,
1996
USAA Real Estate Income Investments I Limited Partnership
(Exact name of registrant as specified in its charter)
California 0-13227 74-2325025
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
8000 Robert F. McDermott Fwy., IH 10 West, Suite 600,
San Antonio, Texas 78230-3884
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(210) 498-7391
N/A
(Former name or former address, if changed since last report)
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Item 1. Changes in Control of Registrant.
None
Item 2. Acquisition or Disposition of Assets.
None
Item 3. Bankruptcy or Receivership.
Not Applicable
Item 4. Changes in Registrant's Certifying Accountant.
None
Item 5. Other Events.
On January 31, 1996, in accordance with the terms of the
mortgage loan agreement between USAA Real Estate Income
Investments I Limited Partnership, as lender, and USAA
Real Estate Company, as borrower, the principal balance
of the $5,440,000 mortgage loan receivable was received
by the Partnership and the underlying note paid in full.
During the years ended December 31, 1995, 1994 and 1993,
the Partnership recorded interest income on the mortgage
loan receivable of $612,757, $605,535 and $604,295,
respectively. As a result of the reduced cash flow of
the Partnership that will result subsequent to the
repayment of the mortgage loan and distribution to
partners of those proceeds, net of any reserves,
quarterly distributions to Partners are expected to be
decreased beginning in the first quarter of 1996.
Item 6. Resignations of Registrant's Directors.
None
Item 7. Financial Statements and Exhibits.
None
Item 8. Change in Fiscal Year.
None
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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.
USAA REAL ESTATE INCOME INVESTMENTS I
LIMITED PARTNERSHIP (Registrant)
BY: USAA INVESTORS I, INC.,
General Partner
February 9, 1996 BY:/s/Martha J. Barrow
Martha J. Barrow
Vice President -
Administration and
Finance/Treasurer
