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As filed with the Securities and Exchange Commission on October 13, 1994
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): September 30, 1994
DUKE REALTY INVESTMENTS, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Indiana 1-9044 35-1740409
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
8888 Keystone Crossing, Suite 1200
Indianapolis, Indiana 46240
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (317) 574-3531
NOT APPLICABLE
(Former name or former address changed since last report)
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Item 5. Other Events
Duke Realty Investments, Inc. (Company) exercised a favorable option to
purchase an asset of ITI-Duke Joint Venture, an affiliated company, on
September 30, 1994. The asset purchased was a mortgage loan to a
consolidated subsidiary of the Company. As a result of the exercise of this
favorable option, the Company recognized an approximate $2 million gain
included in the net income of the Company for the quarter ended
September 30, 1994.
Item 7(c). Exhibits
The following exhibit is filed with this report:
Exhibit
Number
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20 Press Release dated September 28, 1994
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
Duke Realty Investments, Inc.
(Registrant)
Date: October 13, 1994 By: /s/ Dennis D. Oklak
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Dennis D. Oklak
Vice President and Treasurer
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EXHIBIT 20
For Immediate Release Contact:
September 28, 1994 For Investor Inquiries
94-10 Thomas K. Peck
317/574-3512
For Media Inquiries
Donna H. Coppinger
317/574-3518
Peter Barr
Consolidated Communications, Inc.
217/258-9744
Duke Announces Sale and Joint Venture
with Consolidated Communications
INDIANAPOLIS - Duke Realty Investments, Inc. (NYSE:DRE-Duke) and
Consolidated Communications Inc. (CCI) today announced the sale of the assets of
ITI-Duke Joint Venture to a newly formed affiliate of CCI in which Duke will be
admitted as a partner, subject to receiving a favorable letter ruling from the
IRS. ITI-Duke provided telecommunications services to tenants of Duke's owned
and managed properties.
Duke is an Indianapolis-based real estate investment trust which provides
real estate services to 2,200 tenants occupying 26 million square feet in eight
midwestern states. CCI is an Illinois-based, diversified telecommunications
holding company.
"We are pleased to announce our association with CCI, which enjoys a
reputation of being a leading-edge provider of telecommunications services,"
said David R. Mennel, Duke's general manager of the service operations. "Our
affiliation with CCI allows us to further add and enhance the services we
provide our tenants."
While full financial terms of the sale were not disclosed, Mennel said,
"Duke will recognize net income of approximately $2 million on the sale and will
share in the profits of the new company pending a favorable letter ruling from
the IRS."
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