April 11, 1994
Securities and Exchange Commission
450 Fifth Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
Re: Carlyle Real Estate Limited Partnership - XVI
Commission File No. 0-16516
Form 8-K/A
Gentlemen:
Transmitted, for the above-captioned registrant, is the electronically filed
executed copy of the registrant on Form 8-K/A.
Thank you.
Very truly yours,
CARLYLE REAL ESTATE LIMITED PARTNERSHIP - XVI
By: JMB Realty Corporation
Corporate General Partner
By: C. SCOTT NELSON
________________________________
C. Scott Nelson, Vice President
Accounting Officer
CSN:jo
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
AMENDMENT NO. 1
Pursuant to Section 12, 13 or 15(d) of the
Securities Exchange Act of 1934
CARLYLE REAL ESTATE LIMITED PARTNERSHIP - XVI
(Exact name of registrant as specified in its charter)
0-16516 36-3437938
------------- ---------------------
(Commission (IRS Employer
File Number) Identification No.)
The undersigned registrant hereby amends the following section of its
Report for November 2, 1993 on Form 8-K as set forth in the pages attached
hereto:
Item 7. Financial Statements and Exhibits.
-------------------------------------------
Pages 3 through 8
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.
CARLYLE REAL ESTATE LIMITED PARTNERSHIP - XVI
By: JMB Realty Corporation
Corporate General Partner
By: C. SCOTT NELSON
-----------------------------------
C. Scott Nelson, Vice President
Accounting Officer
Dated: April 11, 1994
1
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements. Not applicable.
(b) Proforma financial information.
1. Unaudited proforma condensed financial information.
(c) Exhibits.
1. Purchase Agreement among JMB/Warner Associates and Trident
Group, Inc., dated July 23, 1993 and exhibits thereto.
2. Assignment, Assumption and Consent among Trident Group,
Inc., and TA/Warner Center Associates L.P., dated October
29, 1993.
3
<TABLE>
CARLYLE REAL ESTATE LIMITED PARTNERSHIP - XVI
(a limited partnership)
Unaudited Pro Forma Condensed
Financial Information
As of September 30, 1993
<CAPTION>
HISTORICAL PRO FORMA
CARLYLE REAL ESTATE CARLYLE REAL ESTATE
LIMITED PARTNERSHIP-XVI ADJUSTMENTS NOTE (2) LIMITED PARTNERSHIP-XVI
----------------------- ----------- -------- -----------------------
<S> <C> <C> <C> <C>
Total cash. . . . . . . . . . . . . . . . . . . . $ 17,795,733 11,930,909 (a) 29,726,642
============ =========== ===========
Total net investment property . . . . . . . . . . 126,004,340 (75,482,997) (a) 50,521,343
============ =========== ===========
Total assets. . . . . . . . . . . . . . . . . . . 155,329,489 (65,500,195) (a) 89,829,294
============ =========== ===========
Total liabilities . . . . . . . . . . . . . . . . 120,132,678 (56,010,280) (a) 64,122,398
============ =========== ===========
Venture Partners' subordinated equity in ventures',
at equity . . . . . . . . . . . . . . . . . . . 12,463,433 (6,295,670) (a) 6,167,763
============ =========== ===========
Total partner's capital accounts. . . . . . . . . 22,733,378 (3,194,245) (a) 19,539,133
============ =========== ===========
<FN>
See accompanying notes to unaudited pro forma condensed financial information
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</TABLE>
<TABLE>
CARLYLE REAL ESTATE LIMITED PARTNERSHIP - XVI
(a limited partnership)
Unaudited Pro Forma Condensed
Financial Information
Nine Months Ended September 30, 1993
<CAPTION>
HISTORICAL PRO FORMA
CARLYLE REAL ESTATE CARLYLE REAL ESTATE
LIMITED PARTNERSHIP-XVI ADJUSTMENTS NOTE (2) LIMITED PARTNERSHIP-XVI
----------------------- ----------- -------- -----------------------
<S> <C> <C> <C> <C>
Total income. . . . . . . . . . . . . . . . . . . $ 15,059,358 (7,302,683) (a)(b) 7,756,675
============ =========== ===========
Operating loss. . . . . . . . . . . . . . . . . . $ (291,982) (1,471,233) (a)(b) (1,763,215)
Partnership's share of operations of unconsolidated
ventures. . . . . . . . . . . . . . . . . . . . $ (6,956,106) -- (6,956,106)
Venture partners' share of ventures' operations . $ (167,131) 379,673 (a)(b) 212,542
Net operating loss. . . . . . . . . . . . . . . . $ (7,415,219) (1,091,560) (b) (8,506,779)
============ =========== ===========
Gain on sale of Partnership's investment in
unconsolidated venture . . . . . . . . . . . . . $ 5,819,023 -- 5,819,023
Net loss. . . . . . . . . . . . . . . . . . . . . $ (1,596,196) (1,091,560) (2,687,756)
============ =========== ===========
Taxable earnings (loss) . . . . . . . . . . . . . $ 3,021,387 (618,103) (a)(b) 2,403,284
============ =========== ===========
Net loss per limited partnership interest:
Net operating loss. . . . . . . . . . . . . . . $ (50.72) (7.47) (b) (58.19)
Gain on sale of Partnership's investment in
unconsolidated venture. . . . . . . . . . . . 41.05 -- 41.05
------------ ----------- -----------
$ (9.67) (7.47) (b) (17.14)
============ =========== ===========
Taxable earnings (loss) per Interest. . . . . . . $ 20.67 (4.40) (b) 16.27
============ =========== ===========
Cash distributions per Interest . . . . . . . . . $ 25.50 -- 25.50
============ =========== ===========
<FN>
See accompanying notes to unaudited pro forma condensed financial information.
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</TABLE>
<TABLE>
CARLYLE REAL ESTATE LIMITED PARTNERSHIP - XVI
(a limited partnership)
Unaudited Pro Forma Condensed
Financial Information
Year Ended December 31, 1992
<CAPTION>
HISTORICAL PRO FORMA
CARLYLE REAL ESTATE CARLYLE REAL ESTATE
LIMITED PARTNERSHIP-XVI ADJUSTMENTS NOTE (2) LIMITED PARTNERSHIP-XVI
----------------------- ----------- -------- -----------------------
<S> <C> <C> <C> <C>
Total income. . . . . . . . . . . . . . . . . . . $ 20,753,488 (9,611,578) (b) 11,141,910
============ =========== ===========
Operating loss. . . . . . . . . . . . . . . . . . $ (1,207,558) (1,131,727) (b) (2,339,285)
Partnership's share of operations of unconsolidated
ventures. . . . . . . . . . . . . . . . . . . . $(14,384,114) -- (14,384,114)
Venture Partners' share of Ventures' operations . $ 37,306 292,059 (b) 329,365
Net operating loss. . . . . . . . . . . . . . . . $(15,554,366) (839,668) (b) (16,394,034)
============ =========== ===========
Taxable earnings (loss) . . . . . . . . . . . . . $ 7,426,876 (804,831) (b) 6,622,045
============ =========== ===========
Net loss per Interest . . . . . . . . . . . . . . $ (106.39) (5.74) (b) (112.14)
============ =========== ===========
Taxable earnings (loss) per Interest. . . . . . . $ 50.80 (5.73) (b) 45.07
============ =========== ===========
Cash distributions per Interest . . . . . . . . . $ 34.00 -- 34.00
============ =========== ===========
<FN>
See accompanying notes to unaudited pro forma condensed financial information.
- 7 -
</TABLE>
CARLYLE REAL ESTATE LIMITED PARTNERSHIP - XVI
Notes to Unaudited Pro Forma Condensed
Financial Information
(1) BASIS OF PRESENTATION
The accompanying unaudited pro forma condensed financial information has
been prepared in accordance with Article 11 of Regulation S-X and is not
intended to be indicative of the actual or future results of operations or
financial position of the Partnership. The unaudited pro forma condensed
balance sheet information as of September 30, 1993 has been presented on the
assumption that the sale of the Blue Cross Building (the "Property") had
occurred on September 30, 1993. The unaudited pro forma condensed statements
of operations information for the nine months ended September 30, 1993 and the
year ended December 31, 1992 have been presented on the assumption that the
title transfer of the property had occurred and were completed on January 1,
1993 and January 1, 1992, respectively.
(2) PRO FORMA ADJUSTMENTS
(a) The pro forma adjustments to and assumptions for the condensed
balance sheet information reflect transactions involved in the
transfer of the Property. The pro forma adjustments are based on
property operations as recorded under generally accepted
accounting principles for the nine months ended September 30,
1993.
(b) The pro forma adjustments to the condensed statements of
operations are applicable to the operations of the assets of the
Property during the nine months ended September 30, 1993 and the
year ended December 31, 1993. The adjustments are based upon the
Property's actual operations computed in accordance with
generally accepted accounting principles for the relevant
periods.
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