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UNITED STATES
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) December 12, 1996
U.S. RESTAURANT PROPERTIES MASTER L.P.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 41-1541631
(STATE OF OTHER JURISDICTION OF 1-9079 (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) (COMMISSION FILE NUMBER) IDENTIFICATION NO.)
5310 Harvest Hill Rd.
Suite 270, LB 168
Dallas, Texas 75230
(ADDRES OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)
972-387-1487
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On December 12, 1996, U.S. Restaurant Properties Master L.P. (the
"Registrant") acquired 30 parcels of land on which Grandy's restaurants are
located. The 30 Grandy's restaurants are located in Texas, Oklahoma, and New
Mexico. The acquisition was done pursuant to one purchase and sales agreement.
The purchase price equaled $12,500,000 in cash and other capitalized costs
equaled approximately $200,000. The selling entity was Grandy's, Inc., a
California Corporation. Grandy's, Inc. is an operator of Grandy's
restaurants. Funds for the acquisition were drawn on a bank line of credit.
On December 26, 1996, the Registrant acquired six Chili's restaurant
properties located in Arkansas, Idaho, Nebraska, New Mexico, Utah, and
Wyoming. The acquisition was done pursuant to an Agreement Regarding Partial
Assignment and Assumption of Rights and obligations under Real Estate
Purchase Agreement. The selling entities were Snowstate Restaurant
Corporation, a Texas Corporation, and Franklin Restaurant Corporation, an
Idaho Corporation. The purchase price equaled $9,000,000 in cash and other
capitalized costs equaled approximately $200,000. Funds for the acquisition
were drawn on the Registrant's bank line of credit.
The Sellers are not affiliated with the Company, any director or officer of the
Company or any associate of any such director or officer.
The purchase prices, which were negotiated with the Sellers, were determined
through internal analysis by the Company of historical cash flows and fair
market values of the acquired Properties.
ITEM 7. FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS
a. FINANCIAL STATEMENTS
Financial Statements for the Properties acquired and noted in Item
2 are not available at this time and will be filed as soon as
possible, but not later than 60 days from the date of this Form 8-K.
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SIGNATURE
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 thereunto duly authorized.
Date: December 30, 1996 U.S. RESTAURANT PROPERTIES MASTER L.P.
By: U.S. RESTAURANT PROPERTIES, INC.
its Managing General Partner
By: /s/ Robert J. Stetson
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Robert J. Stetson
President, Chief Executive Officer
