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) August 2, 1994
EQUITABLE REAL ESTATE SHOPPING CENTERS L.P.
(Exact name of registrant as specified in its charter)
Delaware 1-9331 13-3384643
(State or other jurisdiction Commission IRS Employer
of incorporation) File Number) Identification No.)
3 World Financial Center, 29th Floor New York, NY 10285
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 526-3237
Item 2. Disposition of Assets:
On July 22, 1994, Equitable Real Estate Shopping Centers, L.P. (the
"Partnership") closed on the sale of Northland Center, an enclosed regional
shopping mall in Southfield, Michigan, to The Equitable Life Assurance Society
of the United States, the holder of the first mortgage loan on the property.
The sale price amounted to $6.6 million in excess of the existing outstanding
first mortgage loan.
Item 5. Other Events:
On July 13, 1994, the Partnership extended its solicitation (the
"Solicitation") of consents to (i) the sale of Northland Center, and (ii) an
amendment to the Agreement of Limited Partnership of the Partnership to
eliminate the requirement to obtain Unitholder consent to the contemplated
future sale of Brookdale Center to July 22, 1994.
Refer to Exhibit A. - July 13, 1994 Press Release
Refer to Exhibit B. - July 22, 1994 Press Release
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.
EQUITABLE REAL ESTATE SHOPPING CENTERS L.P
Registrant
By: MIDWEST CENTERS INC.
General Partner
By:/S/ Robert J. Hellman Date: August 2,1994
Title: Vice President and Chief
Financial Officer
EXHIBIT A
EQUITABLE REAL ESTATE SHOPPING CENTERS, L.P.
c/o Midwest Centers Inc.
3 World Financial Center
New York, New York 10285
Contact: Robert Hellman (212) 526-3142
Joan Berkowitz (212) 526-3162
PRESS RELEASE DATED JULY 13, 1994
FOR IMMEDIATE RELEASE
Equitable Real Estate Shopping Centers, L.P., (NYSE: EQM) (the "Partnership")
announced today that it is extending its solicitation (the "Solicitation") of
consents to (i) the sale of Northland Center, an enclosed regional shopping
mall in Southfield, Michigan, and (ii) an amendment to the Agreement of Limited
Partnership of the Partnership to eliminate the requirement to obtain
Unitholder consent to the contemplated future sale of Brookdale Center in
Brooklyn Center, Minnesota, through 6:00 p.m., Eastern Daylight time, on
Thursday, July 21, 1994. The solicitation was scheduled to expire on July 14,
1994.
In connection therewith, the Partnership also announced that pursuant to the
Agreement, dated March 25, 1994, between the Partnership and The Equitable Life
Assurance Society of the United States (the "Purchaser"), for the sale of
Northland Center, the closing deadline of July 15, 1994 is being extended to
5:00 p.m., Eastern Daylight time, on July 22, 1994, since each party needs
additional time to satisfy the conditions precedent set forth in the Agreement.
There can be no assurance that the conditions precedent will be satisfied prior
to July 22, 1994.
The Partnership is a master limited partnership, the limited partnership units
of which are traded on the New York Stock Exchange.
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EXHIBIT B
EQUITABLE REAL ESTATE SHOPPING CENTERS, L.P.
c/o Midwest Centers Inc.
3 World Financial Center
New York, New York 10285
Contact: Robert Hellman (212) 526-3142
Joan Berkowitz (212) 526-3162
FOR IMMEDIATE RELEASE
EQUITABLE REAL ESTATE SHOPPING CENTERS, L.P. ("EQM")
ANNOUNCES SALE OF NORTHLAND CENTER
New York, NY (July 22, 1994)--Equitable Real Estate Shopping Centers, L.P.
(NYSE-"EQM"), (the "Partnership") announced today that the sale of Northland
Center, an enclosed regional shopping mall in Southfield, Michigan, was
consummated pursuant to the Agreement dated March 25, 1994, between the
Partnership and The Equitable Life Assurance Society of the United States (the
"Purchaser"). Northland Center was sold for the amount of $6.6 million in
excess of the outstanding first mortgage loan.
The sale was approved by a majority in interest of the Partnership's limited
partners. The Partnership's net proceeds from the Northland Center sale, after
closing adjustments and expenses related to the sale, was approximately
$4,771,000. The Partnership's Board of Directors will meet next week to
determine the record date and amount of a special cash distribution to be made
to Unitholders, the amount of which is expected to exceed the net proceeds from
the Northland Center sale.
The Partnership is a master limited partnership, the limited partnership units
of which are traded on the New York Stock Exchange.
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