SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) August 10, 1994
MRI Business Properties Fund, Ltd. III
(Exact Name of Registrant as Specified in Its Charter)
California
(State or Other Jurisdiction of Incorporation)
0-15348 94-2969782
(Commission File Number) (I.R.S. Employer Identification No.)
5665 Northside Drive, N.W., Atlanta, Georgia 30328
(Address of Principal Executive Offices) (Zip Code)
(404) 916-9090
(Registrant's Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
On August 10, 1994, National Property Investors, Inc. ( NPI ), the
parent of NPI Equity Investments II, Inc. ("NPI Equity"), entered
into an agreement with an affiliate ("Apollo") of Apollo Real
Estate Advisors, L.P. to sell to Apollo up to one-third of the
stock of NPI. The consummation of the transaction is subject to
satisfaction of a number of conditions customary for transactions
of this type. Upon closing, Apollo would be entitled to
representation on the board of directors of NPI Equity. NPI Equity
controls the general partner of Registrant.
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.
MRI BUSINESS PROPERTIES FUND, LTD. III
By: MONTGOMERY REALTY COMPANY - 85,
its managing general partner
By: FOX REALTY INVESTORS,
its managing partner
By: NPI EQUITY INVESTMENTS II, INC.
its managing partner
Date: August 12, 1994 By: /s/ Michael L. Ashner
Michael L. Ashner, President
