Form 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Quarterly Report Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
For the quarter ended Commission file number
June 30, 1996 0-15715
MUTUAL BENEFIT/COMMERCIAL PROPERTIES INCOME PARTNERSHIP, L.P.
(Exact name of registrant as
specified in its governing instrument)
Pennsylvania 05-0417572
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
520 Broad Street
Newark, New Jersey 07102
(Address of principal executive) (Zip Code)
Registrant's telephone number, including area code: (201) 481-7813
Indicate by a checkmark whether the registrant (1) has filed
all reports 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 .
Item 2. Management Discussion and Analysis of Financial Condition
and Results of Operations.
Mutual Benefit/Commercial Properties Income Partnership, L.P.,
(the "Partnership"), formed as a Pennsylvania limited partnership
in 1985, was organized for the purpose of acquiring commercial
income-producing properties, leasing them to tenants, distributing
to partners substantially all cash available from operations and
providing the potential for capital gain upon the sale of the
properties. Three properties were acquired with the net cash
proceeds of the offering of Units in the Partnership and were
leased to tenants on a twenty-five year, triple net-lease basis.
Two of the properties were leased to Wal-Mart Discount Stores,
Inc., one of which was operated as a Wal-Mart Discount Store in
Riverdale. The other Wal-Mart lease in San Angelo was vacated by
Wal-Mart Discount Stores in July 1994.
In the fourth quarter of 1995 the Partnership sold all of its
real estate assets for approximately $6,025,000, net of closing
costs and realized a net gain of $359,743 on the sales. The
Partnership is in the process of dissolution.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
The Registrant is not subject to any material pending
legal proceedings, and no such proceedings terminated during
this quarter ended June 30, 1996.
Item 2. Changes in Securities
(a) and (b) None
Item 3. Defaults Upon Senior Securities
(a) and (d) None
Item 4. Submission of Matters to a Vote of Security Holders
None.
Item 5. Other Information
The Registrant, after making provision for its
creditors, has distributed all of its assets to the partners
and is in the process of dissolving.
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits:
(b) Reports on Form 8-K: None.
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.
MUTUAL BENEFIT/COMMERCIAL PROPERTIES
INCOME PARTNERSHIP, L.P.
By: MB Investment Properties, Inc.
General Partner
By: /S/ THOMAS G. MORGAN
Thomas G. Morgan
Vice President and Treasurer
By: /S/ THOMAS G. MORGAN
Thomas G. Morgan, Principal
Financial and Accounting Officer
Date: August 12, 1996
