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) July 16, 1997
CORPORATE REALTY INCOME FUND I,L.P.
(Exact name of registrant as specified in charter)
DELAWARE
(State or other jurisdiction of incorporation)
0-15796 13-3311993
(Commission file number) (IRS employer identification no.)
406 East 85th Street, New York, New York 10028
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 794-3292
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(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant.
On July 16, 1997, registrant notified KPMG Peat Marwick LLP, the
independent accounting firm previously engaged as the principal accountant to
audit the registrant's financial statements, of its dismissal. Such principal
accountant's report on the registrant's financial statements for each of the
past two years did not contain an adverse opinion or a disclaimer of opinion,
and was not qualified or modified as to uncertainty, audit scope, or accounting
principles. The decision to change accountants was approved by both of the
registrant's general partners and by the board of directors of the corporate
general partner. During the registrant's two most recent fiscal years and any
subsequent interim period preceding such dismissal there were no disagreements
with the former accountant on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of the former accountant,
would have caused it to make reference to the subject matter of the
disagreements in connection with its report.
The following statements apply to the registrant's two most recent fiscal years
and any subsequent interim period preceding the former accountant's dismissal
(each of the described events is hereinafter referred to as a "reportable
event"):
(A) The former accountant did not advise the registrant that the internal
controls necessary for the registrant to develop reliable financial statements
do not exist;
(B) The former accountant did not advise the registrant that information
had come to the accountant's attention that led it to no longer be able to rely
on management's representations, or that made it unwilling to be associated with
the financial statements prepared by management;
(C) The former accountant did not advise the registrant of the need to
expand significantly the scope of its audit, or that information had come to the
accountant's attention during such time period that if further investigated may
(i) materially impact the fairness or reliability of either: a previously issued
audit report or the underlying financial statements; or the financial statements
issued or to be issued covering the fiscal period(s) subsequent to the date of
the most recent financial statements covered by an audit report (including
information that may prevent it from rendering an unqualified audit on those
financial statements), or (ii) cause it to be unwilling to reply on management's
representations or be associated with the registrant's financial statements; and
(D)(1) The former accountant did not advise the registrant that information
had come to the accountant's attention that it had concluded materially impacts
the fairness or reliability of either (i) a previously issued audit report or
the underlying financial statements, or (ii) the financial statements issued or
to be issued covering the fiscal period(s) subsequent to the date of the most
recent financial statements covered by an
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audit report (including information that, unless resolved to the accountant's
satisfaction, would prevent it from rendering an unqualified audit report on
those financial statements).
On July 16, 1997, registrant engaged Ernst & Young LLP, a new independent
accountant, as the principal accountant to audit the registrant's financial
statements. During the registrant's two most recent fiscal years, and any
subsequent interim period prior to engaging that accountant, neither the
registrant nor anyone on its behalf consulted the newly engaged accountant
regarding either: (i) the application of accounting principles to a specified
transaction, either completed or proposed; or the type of audit opinion that
might be rendered on the registrant's financial statements; or (ii) any matter
that was either the subject of a disagreement or a reportable event.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits.
16. Letter of KPMG Peat Marwick LLP re: Change in Certifying
Accountant (to be filed by amendment).
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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.
CORPORATE REALTY INCOME FUND I, L.P.
(Registrant)
Date: July 21, 1997 By: /s/ Robert F. Gossett, Jr.
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Robert F. Gossett, Jr.
Individual General Partner
By: 1345 REALTY CORPORATION
Corporate General Partner
Date: July 21, 1997 By: /s/ Robert F. Gossett, Jr.
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Robert F. Gossett, Jr.
President
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