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) July 28, 1995
MIDWEST REAL ESTATE SHOPPING CENTER 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
Attention: Andre Anderson (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code (212) 526-3237
Item 5. Other Events:
Further to its July 5, 1995 notice of default to the Partnership, the Equitable
Life Assurance Society of the United States (the "Mortgagee"), which holds the
mortgage on the Partnership's Brookdale Center regional mall (the "Mall"),
commenced advertising the Mall for a public nonjudicial foreclosure sale to be
held on September 12, 1995. The Partnership continues to hold negotiations
with the Mortgagee concerning the mortgage in default. In addition to such
negotiations, the Partnership is considering the alternatives available to it
with respect to such potential foreclosure sale.
Refer to Exhibit A. - July 28, 1995 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.
MIDWEST REAL ESTATE SHOPPING CENTER L.P
Registrant
By: MIDWEST CENTERS INC.
General Partner
By: /s/ Robert J. Hellman Date: July 28, 1995
Name: Robert J. Hellman
Title: Director, Vice President, and
Chief Financial Officer
Exhibit A.
MIDWEST REAL ESTATE SHOPPING CENTER L.P.
(formerly Equitable Real Estate Shopping Centers, L.P.)
3 World Financial Center
New York, N.Y. 10285
Attention: Robert Hellman (212) 526-3142
Joan Berkowitz (212) 526-3162
FOR IMMEDIATE RELEASE
New York, NY (July 28, 1995)-- Midwest Centers Inc., the general partner of
Midwest Real Estate Shopping Center L.P. (the "Partnership"), reported that The
Equitable Life Assurance Society of the United States ("Equitable"), which
holds a mortgage loan (the "Mortgage") secured by Brookdale Center
("Brookdale"), an enclosed regional shopping mall located in Brooklyn Center,
Minnesota and owned by the Partnership, published an advertisement for a
September 12, 1995 public nonjudicial foreclosure sale of Brookdale Center.
The Partnership is considering the alternatives available to it with respect to
such potential foreclosure sale.
The advertisement by Equitable was subsequent to the July 5, 1995 notice of
default sent by Equitable to the Partnership. The notice of default stated
that the Partnership failed to pay all principal and accrued interest due under
the Mortgage secured by Brookdale by June 30, 1995, the maturity date of the
Mortgage.
While the Partnership is in negotiations with Equitable concerning the
Mortgage, there can be no assurance that the parties will reach an agreement
that will prevent the foreclosure sale or that a buyer can be found for
Brookdale prior to the sale.
Units of Midwest Real Estate Shopping Center L.P. are traded on the New York
Stock Exchange under the symbol "EQM."
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