Property Resources, Inc.
777 Mariners Island Boulevard
San Mateo, California 94404
December 31, 1996
Filed Via EDGAR (CIK #0000765195)
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Property Resources Equity Trust
Form 8-K
Ladies and Gentlemen:
Pursuant to Regulation S-T, submitted for filing via the EDGAR system please
find a Current Report on Form 8-K on behalf of Property Resources Equity Trust.
Very truly yours,
/s/ David P. Goss
David P. Goss
President
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) DECEMBER 16, 1996
Property Resources Equity Trust
(Exact Name of Registrant as Specified in its Charter)
California 0-15880 94-3959770
State or other Commission File Number IRS Employer
jurisdiction of Identification
incorporation Number
1800 Gateway Drive, San Mateo, CA 94404
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (415)312-3000
ITEM 5: OTHER MATERIAL EVENTS
Graham Court Business Park
5963-5981 Graham Court
Livermore, California
On Monday, December 16, 1996, the Company entered into an Agreement of
Purchase and Sale (the "Agreement") with the intent of selling the Graham
Court Business Park (the "Property"). The buyer is an unaffiliated third
party. The contractual purchase price is $2,200,000. If the Property is
sold under the current terms of the Agreement, the Company will net
approximately $2,100,000 after real estate commissions and closing costs.
Certain contractual contingencies remain and there can be no assurances that
the sale will be completed at this price or at all.
Dated: December 31, 1996 PROPERTY RESOURCES EQUITY TRUST
BY /S/ DAVID P. GOSS
David P. Goss
President
