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) Sept. 14, 1998 (July 31, 1997)
GLENBOROUGH PARTNERS,
A CALIFORNIA LIMITED PARTNERSHIP
(Exact name of registrant as specified in its charter)
California 33-3657 94-3199021
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification Number)
incorporation)
400 South El Camino Real, Suite 1100, San Mateo, California 94402
(Address of principal executive offices)
Registrant's Telephone number, including area code: (650) 343-9300
This Form 8-K contains a total of 4 pages.
No exhibit required.
Page 1 of 4
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Item 2. ACQUISITION OR DISPOSITION OF ASSETS.
On July 31, 1997, Glenborough Partners, A California Limited Partnership (the
Registrant) acquired a 50% non-controlling interest in Windswept Portfolio, LLC
("Windswept"), a limited liability company for $1,800,000. Windswept then
acquired the following five multifamily-residential projects in Houston, Texas:
1. Ashley Square, a 117-unit apartment complex;
2. Hidden Pines, a 185-unit apartment complex;
3. Shenandoah Woods, a 232-unit apartment complex;
4. Southern Oaks, a 198-unit apartment complex;
5. Unity Pointe, a 109-unit apartment complex
Windswept simultaneously entered into a management agreement with Investors
Management Trust Real Estate, Inc. ("IMT") whereby IMT was contracted to manage
and operate for Windswept, the five multifamily-residential projects.
Page 2 of 4
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Item 7. FINANCIAL STATEMENTS
(b) PRO FORMA FINANCIAL INFORMATION
There are virtually no accounting records of the seller to audit and thereby it
is not possible to compile data for proformas.
Page 3 of 4
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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.
GLENBOROUGH PARTNERS,
A CALIFORNIA LIMITED PARTNERSHIP
By: /s/ Robert Batinovich
Robert Batinovich
Its General Partner
Date: September 14, 1998
Page 4 of 4
