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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) June 21, 1997
FORUM RETIREMENT PARTNERS, L.P.
(Exact Name of Registrant as Specified in its Charter)
Delaware
(State of Incorporation)
1-9302
(Commission File Number)
35-1686799
(I.R.S. Employer Identification Number)
10400 Fernwood Road, Bethesda, Maryland 20817
(Address of Principle Executive Offices) (Zip Code)
Registrant's Telephone Number,Including Area Code (301) 380-9000
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Item 5. Other Events
On June 21, 1997, HMC Senior Communities, Inc. ("HMCSC"), a wholly owned
subsidiary of Host Marriott Corporation ("Host Marriott") acquired all of
the outstanding stock of Forum Group, Inc., from Marriott Senior Living
Services, Inc., a subsidiary of Marriott International, Inc. ("Marriott
International"). Forum Group, Inc. owns all of the outstanding stock of Forum
Retirement, Inc., the general partner of the Registrant. Forum Group, Inc. also
indirectly owns approximately 79% of the outstanding preferred depository units
representing limited partners' interest in the Registrant.
Substantially all of the hotel and senior living properties owned or controlled
by Host Marriott and its subsidiaries are managed or franchised by Marriott
International through management and franchise agreements. Host Marriott has
obtained, and may obtain in the future, financing from Marriott International
for a portion of the cost of acquiring properties to be operated or franchised
by Marriott International. The performance of certain guarantees and debt
obligations of Host Marriott and its affiliates totaling approximately $115
million at March 28, 1997, are guaranteed by Marriott International. Marriott
International has the right to purchase up to 20% of the voting stock of Host
Marriott if certain events involving a change in control of Host Marriott occur.
In conjunction with the acquisition, Forum Group, Inc. assigned to Marriott
Senior Living Services, Inc. its interest as manager under long-term management
agreements for the 9 senior living communities owned by the Registrant.
Richard E. Marriott, the Chairman of the Board of Host Marriott, is a director
of Marriott International. J.W. Marriott, Jr., the Chairman of the Board and
Chief Executive Officer of Marriott International is a director of Host
Marriott. Richard E. Marriott beneficially owns approximately 10.4% and 6.67% of
the outstanding common stock of Marriott International and Host Marriott,
respectively. J.W. Marriott, Jr. beneficially owns approximately 10.6% and 6.60%
of the outstanding common stock of Marriott International and Host Marriott,
respectively. Some of such shares are beneficially owned by Richard E. Marriott
and J.W. Marriott, Jr., who are brothers.
Additional information on Host Marriott's relationship with Marriott
International is included in Host Marriott Corporation's Annual Report on Form
10-K for the fiscal year ended January 3, 1997.
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.
FORUM RETIREMENT PARTNERS, L.P.,
a Delaware Limited Partnership
By: FORUM RETIREMENT, INC., GENERAL PARTNER
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By: /s/ Donald D. Olinger
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Donald D. Olinger
Vice President
July 7, 1997
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