UNITED STATES 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) July 29, 1997
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REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP IV
(Exact Name of Registrant as specified in its Charter)
Delaware 0-14386 16-1245153
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(State of Formation) (Commission File No.) (IRS Employer
Identification No.)
2350 North Forest Road
Suite 12-A
Getzville, New York 14068
(Address of Principal Executive Office)
Registrant's Telephone Number: (716) 636-0280
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ITEM 5. OTHER EVENTS.
On July 16, 1997 the Partnership, and other limited partnerships in which
Realmark Properties Inc., the Partnership's Corporate General Partner, serves as
general partner, entered into contracts to sell multi-family residential
properties, which included Creekside Apartments, Evergreen Apartments, Lakeview
Apartments, Sutton Park Apartments and Willow Creek Apartments, to Partnership
Equities, Inc. of Columbus, Ohio. Partnership Equities is not affiliated with
the Partnership, the Corporate General Partner, or any affiliate of either.
The Corporate General Partner, acting under authority contained in the Limited
Partnership Agreement, and on behalf of the best interests of the Limited
Partners, entered into the contracts on behalf of the Partnership with the
belief that the price and terms are fair to the Partnership.
The contracts were subject to a number of contingencies, including, but not
limited to, the following: satisfactory title reports, satisfactory engineering
reports on the condition of the improvements, and availability of government
allocations allowing the property to qualify for a tax credit program.
The contracts for the sale of the above-identified residential properties (i.e.
apartment complexes) were terminated recently. In the cases of the contracts for
Creekside Apartments, Sutton Park Apartments and Evergreen Apartments, the
purchaser was unable to secure the necessary tax credits and bonds allocated
through the state agencies. The sale of Lakeview Apartments located in
Milwaukee, Wisconsin was terminated because the city was unwilling to use their
bond allocations for multi-family housing. The sale of Willow Creek Apartments
was not consummated as the purchaser felt the extent of the needed rehab work at
the property was more than the economics of the deal could support.
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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.
REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP IV
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(Name of Registrant as Specified in Charter)
Date: 7/31/97 /s/Joseph M. Jayson
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Joseph M. Jayson,
President and Director
