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 5, 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
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 526-3237
Item 5. Other Events:
On July 5, 1995, the Partnership received notice from The Equitable Life
Assurance Society of the United States (the "Mortgagee") that the Partnership
failed to pay all principal and accrued interest due under the first mortgage
(the "Mortgage") secured by Brookdale Center, on June 30, 1995, the maturity
date of the Mortgage. The notice stated that in the event such amount is not
paid within ten (10) days after receipt of the notice, an Event of Default
under the Mortgage will exist and the Mortgagee will pursue all remedies
available to it, including, without limitation, foreclosure of the lien of the
Mortgage by power of sale or judicial foreclosure and the appointment of the
receiver.
Refer to Exhibit A. - July 6, 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/ Paul L. Abbott Date: July 13, 1995
Name: Paul L. Abbott
Title: Director, Chairman of the Board,
and President
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 6, 1995)-- Midwest Real Estate Shopping Center L.P. (the
"Partnership") announced today that it received notice from The Equitable Life
Assurance Society of the United States (the "Mortgagee") that the Partnership
failed to pay all principal and accrued interest due under the first mortgage
("Mortgage") secured by Brookdale Center, on June 30, 1995, the maturity date
of the Mortgage. The notice stated that in the event such amount is not paid
within ten (10) days after receipt of the notice (pursuant to the Mortgage,
notices are deemed given three (3) days after the date of mailing), an Event of
Default under the Mortgage will exist and the Mortgagee will pursue all
remedies available to it, including, without limitation, foreclosure of the
lien of the Mortgage by power of sale or judicial foreclosure and the
appointment of the receiver.
Midwest Centers Inc., the Partnership's General Partner has held discussions
with the Mortgagee and expects such discussions to continue, with the goal
being the negotiation of a mutually acceptable agreement regarding the mortgage
secured by Brookdale Center, although no assurance can be made that any such
agreement will be reached.
Midwest Real Estate Shopping Center L.P. is a limited partnership that owns an
enclosed regional mall in Brooklyn Center, Minnesota. 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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