SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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) September 29, 1995
PARTICIPATING DEVELOPMENT FUND 86
A Real Estate Limited Partnership
(Exact name of registrant as specified in its charter)
Connecticut 33-2294 06-1153833
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3 World Financial Center, 29th Floor New York, NY
ATTN: Andre Anderson 10285
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 526-3237
Item 2. Disposition of Assets:
On September 29, 1995, Participating Development Fund 86, A Real Estate Limited
Partnership (the "Partnership") closed on the sale of Foothills Tech Plaza (the
"Property"). The Property sold for $10,011,512, net of $226,000 in contracted
roof repairs, to an institutional buyer (the "Buyer"), which is unaffiliated
with the Partnership. The selling price was determined by arm's length
negotiations between the Partnership and the Buyer. The transaction resulted
in a gain on sale for the Property of approximately $1,000,000 which will be
reflected in the Partnership's statement of operations for the period ending
September 30, 1995. The General Partner intends to distribute most if not all
of the net sale proceeds in the fourth quarter of 1995.
Item 7. Financial Statements and Exhibits:
(a) Financial statement of businesses acquired.
Not applicable
(b) Pro forma financial information.
The Partnership is currently unable to provide complete
proforma financial information required as a result of the above transaction.
This financial information will be included in an amendment to this Form 8-K
which will be filed as soon as practicable, but no later than 60 days after the
due date hereof.
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.
PARTICIPATING DEVELOPMENT FUND 86
Registrant
By: PDF86 Real Estate Services Inc.
General Partner
By: /s/ Kenneth L. Zakin Date: October 12, 1995
Name: Kenneth L. Zakin
Title: Director and President
