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THE PURPOSE OF THIS AMENDMENT IS TO FILE A CORRECT COPY OF THE
INDEPENDENT AUDITORS' REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER
30, 1995
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934 - AMENDMENT NO. 1
For the fiscal year ended September 30, 1995
Commission file number 0-14308
Exact name of registrant as specified in its charter: T. ROWE
PRICE REALTY INCOME FUND I, A NO-LOAD LIMITED PARTNERSHIP
State or other jurisdiction of incorporation or organization:
Maryland
I.R.S. Employer Identification Number: 52-1363144
Address and zip code of principal executive offices: 100 East
Pratt Street, Baltimore, Maryland 21202
Registrant's telephone number, including area code:
1-800-638-5660
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:
Title of Class: Units of Limited Partnership Interest
Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports) and (2) has been subject to such filing
requirements for the past 90 days. Yes X No
Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K is not contained herein,
and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this
Form 10-K [X]
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The aggregate market value of the voting stock held by
non-affiliates of the registrant is not determinable because
there is no public trading market for the Units of Limited
Partnership Interest.
DOCUMENTS INCORPORATED BY REFERENCE.
Prospectus of the Partnership dated December 7, 1984, File
Number 2-93160 and supplement to the Prospectus dated April 24,
1985 filed with the Commission pursuant to Rule 424(c) are
incorporated in Parts I, III and IV by reference. Annual Report
to Limited Partners of the Partnership for the fiscal year ended
September 30, 1995 dated November 10, 1995 and filed with
the Commission as Exhibit 13 is incorporated in Parts II and IV
by reference. Report of KMPG Peat Marwick LLP dated October 20,
1995 regarding the financial statements of the Partnership and
filed with the Commission as Exhibit 99(d) is incorporated in
Parts II and IV by reference.
Index to Exhibits is located on page 24.
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T. ROWE PRICE REALTY INCOME FUND I,
A NO-LOAD LIMITED PARTNERSHIP
INDEX
Page
PART I.
Item 1. Business 4
Item 2. Properties 11
Item 3. Legal Proceeding 11
Item 4. Submission of Matters to a Vote of Security
Holders 12
PART II.
Item 5. Market for the Partnership's Limited Partnership 12
Interests and Related Security Holder Matters
Item 6. Selected Financial Data 13
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations 15
Item 8. Financial Statements and Supplementary Data 19
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure 19
PART III.
Item 10. Directors and Executive Officers of Registrant 19
Item 11. Executive Compensation 22
Item 12. Security Ownership of Certain Beneficial Owners 23
and Management
Item 13. Certain Relationships and Related Transactions 23
PART IV.
Item 14. Exhibits, Financial Statement Schedules and 24
Reports on Form 8-K
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Item 8. Financial Statements and Supplementary Data
The financial statements appearing on pages 6 through 14 of the
Partnership's 1995 Annual Report to Limited Partners are
incorporated by reference in this Form 10-K Annual Report. The
report thereon of KPMG Peat Marwick LLP dated October 20, 1995 is
filed as Exhibit 99(d) to this Form 10-K Annual Report and is
hereby incorporated by reference herein. Financial Statement
Schedule III, Consolidated Real Estate and Accumulated
Depreciation, is filed as Exhibit 99(c) to this Form 10-K Annual
Report, and is hereby incorporated by reference herein. All
other schedules are omitted either because the required
information is not applicable or because the information is shown
in the financial statements or notes thereto.
Item 14
(a) The following documents are filed as part of this report:
(1) Financial Statements:
Incorporated by reference from the indicated pages of the
Partnership's 1995 Annual Report to Limited Partners:
Page
Balance Sheets at September 30, 1995 and 1994 7
Statements of Operations for each of the
three years in the period ended September 30,1995 8
Statements of Partners' Capital for each of the
three years in the period ended September 30, 1995 8-9
Statements of Cash Flows for each of the
three years in the period ended December 31, 1995 9-10
Notes to Financial Statements 10-14
Independent Auditors' Report - Incorporated by reference
from Exhibit 99(d) hereof.
(2) Financial Statement Schedules:
III - Consolidated Real Estate and Accumulated Depreciation,
incorporated by reference to Exhibit 99(c) hereof.
All other schedules are omitted because they are not applicable
or the required information is presented in the financial
statements and notes hereto.
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(3) Exhibits
3, 4. (a) Prospectus of the Partnership dated December
7, 1984, which includes the Partnership
Agreement, File Number 2-93160, and
supplement thereto dated April 24, 1984,
filed with the Commission pursuant to Rule
424(c), incorporated by reference herein.
(b) Amendment to the Partnership Agreement dated
January 1, 1988, incorporated by reference to
Exhibits 3, 4.(h) of the registrant's report
on Form 10-K for the year ended September
1988, File Number 0-14308 (the "1988 10-K").
(c) Amendment to the Partnership Agreement dated
March 28, 1988, incorporated by reference to
Exhibits 3, 4.(j) of the 1988 10-K.
10. Advisory Agreement dated as of July 15, 1991 by and between
the Partnership, the General Partner, and LaSalle Advisors
Limited Partnership, incorporated by reference to Exhibit 10
of the registrant's report on 10-K for the year ended
September 30, 1991.
13. Annual Report for fiscal 1995, distributed to Limited
Partners on or about November 15, 1995.
27. Financial Data Schedule
99. (a) Pages 7-11, 19-29 and 36-50 of the Prospectus
of the Partnership dated December 7, incorporated
by reference to Exhibit 99(a)of the registrant's
report on Form 10-K for the year ended September
30, 1994, File Number )0-14308.
(b) Real Estate Holdings, incorporated by reference
from page 6 of the Partnership's 1995 Annual
Report to Limited Partners.
(c) Financial Statement Schedule III - Consolidated
Real Estate and Accumulated Depreciation.
(d) Report of KPMG Peat Marwick LLP dated
October 20, 1995 regarding the financial
statements of the Partnership.
(b) Reports on Form 8-K
No reports on Form 8-K were filed during the last
quarter of the period covered by this report.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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:
Dated: January 22, 1996 T. ROWE PRICE REALTY INCOME
FUND I, A NO-LOAD LIMITED
PARTNERSHIP
By: T. Rowe Price Realty
Income Fund I Management,
Inc., General Partner
/s/ James S. Riepe
By: James S. Riepe,
President
Pursuant to the requirements of the Securities Exchange Act of
1934, this report has been signed below by the following persons
on behalf of the Registrant and in the capacities (with respect
to the General Partner) and on the dates indicated:
/s/ James S. Riepe Date: January 22, 1996
James S. Riepe
Director, Chairman of the
Board and President
T. Rowe Price Realty Income Fund I
Management, Inc.,
Principal Executive Officer
for the Partnership
/s/ Henry H. Hopkins Date: January 22, 1996
Henry H. Hopkins,
Director and Vice President,
T. Rowe Price Realty Income Fund I
Management, Inc.
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/s/ Charles E. Vieth Date: January 22, 1996
Charles E. Vieth,
Director and Vice President,
T. Rowe Price Realty Income Fund I
Management, Inc.
/s/ Douglas O. Hickman Date: January 22, 1996
Douglas O. Hickman,
Director and Vice President,
T. Rowe Price Realty Income Fund I
Management, Inc.
/s/ Alvin M. Younger, Jr. Date: January 22, 1996
Alvin M. Younger, Jr.,
Director and Treasurer,
T. Rowe Price Realty Income
Fund I Management, Inc.
/s/ Joseph P. Croteau Date: January 22, 1996
Joseph P. Croteau,
Controller and Principal Financial
Officer for the Partnership
/s/ Gary C. Younker Date: January 22, 1996
Gary C. Younker,
Principal Accounting Officer
of the Partnership
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PAGE1
INDEPENDENT AUDITORS' REPORT
The Partners
T. Rowe Price Realty Income Fund I,
A No-Load Limited Partnership:
We have audited the accompanying balance sheets of T. Rowe
Price Realty Income Fund I, A No-Load Limited Partnership as of
September 30, 1995 and 1994, and the related statements of
operations, partners' capital and cash flows for each of the
years in the three-year period ended September 30, 1995. In
connection with our audits of the aforementioned financial
statements, we also have audited the information included in
the related financial statement schedules as of and for each of
the years in the three-year period ended September 30, 1995.
These financial statements and financial statement schedules
are the responsibility of the Partnership's management. Our
responsibility is to express an opinion on these financial
statements and financial statement schedules based on our
audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether
the financial statements and financial statement schedules are
free of material misstatement. An audit includes examining, on
a test basis, evidence supporting the amounts and disclosures
in the financial statements. An audit also includes assessing
the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the financial
position of T. Rowe Price Realty Income Fund I, A No-Load
Limited Partnership as of September 30, 1995 and 1994, and the
results of its operations and its cash flows for each of the
years in the three-year period ended September 30, 1995, in
conformity with generally accepted accounting principles.
Also, in our opinion, the information included in the related
financial statement schedules as of and for each of the years
in the three-year period ended September 30, 1995 when
considered in relation to the basic financial statements
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taken as a whole, present fairly, in all material respects, the
information set forth therein.
KPMG Peat Marwick LLP
Chicago, Illinois
October 20, 1995
