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 October 1, 1999
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PARTICIPATING DEVELOPMENT FUND 86
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(Exact name of registrant as specified in its charter)
Connecticut 33-2294 06-1153833
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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
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Address of principal executive offices Zip Code
Registrant's telephone number, including area code (212) 526-3183
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PARTICIPATING DEVELOPMENT FUND 86
Item 2. Disposition of Assets
On October 1, 1999, Participating Development Fund 86 (the "Partnership") closed
on the sale of Sunnyvale R&D pursuant to a purchase and sale agreement executed
in June 1999. The property was sold to Kifer Road LLC (the "Buyer"), an
unaffiliated entity, for a selling price of approximately $13,159,379, net of
closing adjustments. The selling price was determined by arm's length
negotiations between the Partnership and the Buyer.
As a result of the sale, the General Partner intends to distribute the net
proceeds therefrom (after payment of or provision for the Partnership's
liabilities and expenses, and establishment of a reserve for contingencies, if
any) during the fourth quarter of 1999.
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PARTICIPATING DEVELOPMENT FUND 86
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
BY: PDF 86 Real Estate Services Inc.
General Partner
Date: October 13, 1999 BY: /s/Michael T. Marron
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Name: Michael T. Marron
Title: President and Chief Financial Officer
