SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) June 13, 1995
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OUTLOOK INCOME FUND 9,
A CALIFORNIA LIMITED PARTNERSHIP
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(Exact name of registrant as specified in its charter)
California 0-15837 33-0202964
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(State or other (Commission (IRS Employer
jurisdiction of File Number) I.D. Number)
incorporation)
400 South El Camino Real, Ste. 1100, San Mateo, California 94402
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-- (Address of principal executive offices)
Registrant's Telephone number, including area code: (415) 343-
9300
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(Former name or former address, if changes since last report)
This form 8-K contains a total of 6 pages.
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No Exhibits Required.
Page 1 of 6
Item 2. Disposition of Real Estate
On March 28, 1995, Outlook Income Fund 9, A California Limited
Partnership (the Registrant), sold the Millwood Estates
Apartments, a 300-unit apartment complex located at 508 164th
Street in Lynnwood, Washington to Security Capital Pacific Trust
("the buyer"). The buyer is not affiliated with the Registrant
or the Registrant's general partners. Total sales proceeds were
$9,886,200, out of which $7,572,400 was used to payoff the
outstanding note secured by the property. In addition,
$2,000,000 was used to payoff a note payable borrowed January 27,
1995 to repurchase approximately $2,190,000 of the Partnership's
Participating Notes. The remainder of the net cash proceeds from
the sale have been added to the Registrant's reserves.
On the following pages is the pro forma financial information
representing the Registrant's December 31, 1994 balance sheet and
the statement of operations for the year ended December 31, 1994,
adjusted to eliminate the balances and operating results of the
sold property.
Page 2 of 6
OUTLOOK INCOME FUND 9,
A CALIFORNIA LIMITED PARTNERSHIP
Balance Sheets
(in thousands, except units outstanding)
Pro Forma
December 31, Pro Forma December 31,
1994 Adjustments 1994
Assets ---------- --------- ----------
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Real estate investments, at cost:
Land $ 4,192 $ 4,192
Building and improvements 25,510 25,510
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29,702 29,702
Less accumulated depreciation (8,479) (8,479)
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Net real estate investments 21,223 21,223
Property held for sale, net 9,282 (9,282) -
Property held pending foreclosure,
net 3,591 3,591
Cash and cash equivalents 801 50 851
Notes receivable 2,000 2,000
Accounts receivable, net 87 25 112
Prepaid expenses and other assets 280 (82) 198
Deferred financing costs and
other fees, net 1,015 (195) 820
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Total assets $ 38,279 $(9,484) $ 28,795
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- continued -
Page 3 of 6
OUTLOOK INCOME FUND 9,
A CALIFORNIA LIMITED PARTNERSHIP
Balance Sheets - continued
(in thousands, except units outstanding)
Pro Forma
December 31, Pro Forma December 31,
1994 Adjustments 1994
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Liabilities and Partners'
Equity (Deficit)
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Notes payable - secured $ 26,078 $ (7,594) $ 18,484
Participating notes:
Notes issued 5,229 5,229
Accrued interest, thereon 4,582 4,582
Less: Notes held in trust (544) (2,190) (2,734)
Accrued interest, thereon (413) (1,886) (2,299)
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Net due to outside holders 8,854 (4,076) 4,778
Note payable - unsecured 7 (7) -
Accrued interest payable 783 (61) 722
Accounts payable 152 152
Accrued expenses 247 (7) 240
Deferred income and security deposits 134 134
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Total liabilities 36,255 (11,745) 24,510
Partners' equity (deficit):
General Partner (407) 23 (384)
Limited Partners, 35,742,572
Equity Units outstanding 2,431 2,238 4,669
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Total partners' equity 2,024 2,261 4,285
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Total liabilities and
partners' equity $ 38,279 $ (9,484) $ 28,795
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Page 4 of 6
OUTLOOK INCOME FUND 9,
A CALIFORNIA LIMITED PARTNERSHIP
Statement of Operations
(in thousands, except units outstanding)
For the Year Ended
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Pro Forma
December 31, Pro Forma December 31,
1994 Adjustments 1994
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Revenues:
Rental $ 9,824 $ (1,827) $ 7,997
Interest and other 494 494
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Total revenues 10,318 (1,827) 8,491
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Expenses:
Operating 6,585 (854) 5,731
General and administrative 571 571
Depreciation and amortization 1,881 (352) 1,529
Provision to reduce carrying value
of real estate to estimated
realizable value 836 836
Interest 3,081 (996) 2,085
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Total expenses 12,954 (2,202) 10,752
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Other expenses:
Loss on sale (257) - (257)
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Total other expenses (257) - (257)
Net income (loss) $ (2,893) 375 (2,518)
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Net income (loss) per Equity Unit
"Current Unit" $ (0.08) 0.01 (0.07)
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Page 5 of 6
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.
OUTLOOK INCOME FUND 9,
A CALIFORNIA LIMITED PARTNERSHIP
By: Glenborough Realty Corporation,
a California corporation
Managing General Partner
Date: June 13, 1995 By: /s/ Andrew Batinovich
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Andrew Batinovich
Executive Vice President,
Chief Financial Officer
and Director
Page 6 of 6
