GLENBOROUGH LTD
10-Q/A, 1994-12-30
OPERATORS OF NONRESIDENTIAL BUILDINGS
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                                     FORM 10-Q/A

                          SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C. 20549


                 [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                        OF THE SECURITIES EXCHANGE ACT OF 1934

                     For the quarterly period ended June 30, 1994

                                          OR

                [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                        OF THE SECURITIES EXCHANGE ACT OF 1934

                 For the transition period from ________ to ________

                           Commission File Number: 33-3657


                                GLENBOROUGH PARTNERS,
                            A CALIFORNIA LIMITED PARTNERSHIP        
               as successor to Glenborough Limited pursuant to Rule 15d-5
          -----------------------------------------------------------------
          -
                (Exact name of Registrant as specified in its charter)

                                                      94-3193010
                    California                (successor to 94-2997842)
          -------------------------------          ----------------
          (State or other jurisdiction of          (I.R.S. Employer
          incorporation or organization)         Identification No.)

             400 South El Camino Real,
                    Suite 1100
               San Mateo, California                    94402
               ---------------------                 ------------
               (Address of principal                  (Zip Code)
                executive offices)


                                   (415)  343-9300      
                            -----------------------------
                           (Registrant's telephone number)

          Indicate by check mark  whether the registrant (1) has  filed all
          reports required  to  be filed  by  Section 13  or  15(d) of  the
          Securities Exchange Act  of 1934 during  the preceding 12  months
          (or for such shorter  period that the registrant was  required to
          file  such  reports), and  (2) has  been  subject to  such filing
          requirements for the past 90 days.  

                                    Yes  X   No 
                                        ---    ---

        Total number of units outstanding as of June 30, 1994: 2,961,853


                                     Page 1 of 20






        PART II.  OTHER INFORMATION


        Item 6.     Exhibits 

                    (a)  Exhibit Index.  

                                                         Incorporation by   
            Exhibit No.       Description                Reference to
          ------------------------------------------------------------------
            27.2              Financial Data Schedule    EDGAR Exhibit No.  
                                                         EX-27 for June 30,
                                                         1994 Form 10-Q
                                                         Registration No.
                                                         33-3657             











































                                     Page 2 of 20






                                      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 thereunto duly authorized:


                                GLENBOROUGH PARTNERS,
                           A CALIFORNIA LIMITED PARTNERSHIP




       By:  /s/ Robert Batinovich          By:  Glenborough Realty Corporation
            Robert Batinovich                   its Managing General Partner 
                 General Partner              


                                                By:   /s/ Robert Batinovich  
                                                     Robert Batinovich
                                                     President and
                                                     Chairman of the Board



                                                By:   /s/ Andrew Batinovich  
                                                     Andrew Batinovich
                                                     Senior Vice President,  
                                                     Chief Financial Officer
                                                     and Director





                               Date:  December 28, 1994











       



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<ARTICLE> 5
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-END>                               JUN-30-1994
<CASH>                                            2466
<SECURITIES>                                         0
<RECEIVABLES>                                     1210
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                  3676
<PP&E>                                           29281
<DEPRECIATION>                                    8186
<TOTAL-ASSETS>                                   25307
<CURRENT-LIABILITIES>                             1701
<BONDS>                                          15637
<COMMON>                                             0
                                0
                                          0
<OTHER-SE>                                        7727
<TOTAL-LIABILITY-AND-EQUITY>                     25307
<SALES>                                              0
<TOTAL-REVENUES>                                  6730
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                  5165
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                3151
<INCOME-PRETAX>                                 (1586)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             (1586)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                 121581
<CHANGES>                                            0
<NET-INCOME>                                    119995
<EPS-PRIMARY>                                    35.26
<EPS-DILUTED>                                    35.26
        

</TABLE>


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