FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 5, 1997
CAROLINA INVESTMENT PARTNERS, LIMITED PARTNERSHIP
(Exact name of registrant as specified in its charter)
North Carolina
(State or other jurisdiction of incorporation)
0-15571 56-1494619
(Commission File Number) (IRS Employer Identification No.)
4000 Blue Ridge Road, Suite 100
Raleigh, North Carolina 27612
(Address of principal executive offices) (Zip Code)
(919) 781-1700
(Registrant's telephone number, including area code)
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Item 2. Acquisition or Disposition of Assets
On April 20, 1995, the Registrant, Churchill & Banks, Ltd. ("Churchill &
Banks"), and ADA Corporation of North Carolina ("ADA") executed an Agreement for
the Purchase and Sale of Real Estate, which was amended as disclosed in prior
filings (the "Agreement") for Churchill & Banks to purchase certain tracts of
real property owned by the Registrant and ADA. The closing for the sale of one
outparcel consisting of approximately .82 acres was held on May 5, 1997. The
Registrant received approximately $231,596, after deducting fees and expenses,
for the sale of such outparcel. In addition, the Registrant received interest in
the amount of $11,054 and a property tax reimbursement in the amount of $967 in
connection with the sale of the outparcel.
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.
CAROLINA INVESTMENT PARTNERS, LIMITED
PARTNERSHIP
By: WALSMITH ASSOCIATES TWO,
General Partner
Date: May 13, 1997 By:/s/ Alton L. Smith, III
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Alton L. Smith, III
General Partner and
Principal Financial Officer
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