UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
McNeil Real Estate Fund XXVII, L.P.
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(Name of Issuer)
Units of Limited Partnership Interest
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(Title of Class of Securities)
Not Applicable
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(CUSIP Number)
April 6, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed: ___ Rule 13d-1(b)
_X_ Rule 13d-1(c)
___ Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
Page 1 of 6 pages
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Schedule 13G
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CUSIP NO. - Not Applicable Page 2 of 6 Pages
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Opal Partners, L.P. See also Item 4
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
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SOLE VOTING POWER
5
NUMBER OF Opal Partners, L.P. - 670,634
See also Item 4.
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
Voting and dispositive power is exercised on
OWNED BY behalf of Opal Partners, L.P. by its general
partner, DDC&R, Inc. a California corporation.
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EACH SOLE DISPOSITIVE POWER
7
REPORTING Opal Partners, L.P. - 670,634
See also Item 4.
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
Voting and dispositive power is exercised on behalf
of Opal Partners, L.P. by its general parter,
DDC&R, Inc. a California corporation.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
670,634 Units of Limited Partnership Interest
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
12.72%
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TYPE OF REPORTING PERSON
12
PN
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Page 3 of 6 pages
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Item 1(a). Name of Issuer:
McNeil Real Estate Fund XXVII, L.P.
Item 1(b). Address of Issuer's Principal Executive Offices:
13760 Noel Road, Suite 600
Dallas, Texas 75240
Item 2(a). Name of Person Filing:
Opal Partners, L.P. ("Opal Partners")
Item 2(b). Address of Principal Business Office or, if None, Residence:
Four Embarcadero Center, Suite 3250
San Francisco, California 94111
Item 2(c). Citizenship:
California
Item 2(d). Title of Class of Securities:
Units of Limited Partnership Interests
Item 2(e). CUSIP Number:
Not applicable
Item 3. Status of Person Filing:
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(15 U.S.C. 78o);
(b) [ ] Bank as defined in Section 3(a)(6) of the Act, (15 U.S.C.
78c);
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act,
(15 U.S.C. 78c);
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e) [ ] An investment adviser in accordance with Section 240.13d-1
(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund
in accordance with Section 240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance
with Section 240.13d-1(b)(1)(ii)(G);
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Page 4 of 6 pages
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(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);.
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3 (c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3).
(j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Section 240.13d-1(c), check
this box _X_
Item 4. Ownership:
(a). Amount Beneficially Owned:
670,634 units of limited partnership interest
(b). Percent of Class: 12.72%
(c). Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
670,634 units of limited partnership interest
(ii) shared power to vote or to direct the vote:
Opal Partners' general partner, DDC&R, Inc.,
a California corporation ("DDC&R"), has the sole
power to vote and to dispose of the limited
partnership units. The sole stockholder and sole
director of DDC&R is Carole J. McNeil.
(iii) sole power to dispose or to direct the disposition
of:
670,634 units of limited partnership interest
(iv) shared power to dispose or to direct the
disposition of:
Opal Partners' general partner, DDC&R, has the
sole power to vote and to dispose of the limited
partnership units. The sole stockholder and sole
director of DDC&R is Carole J. McNeil.
Item 5. Ownership of 5% or Less of a Class:
Not Applicable
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Page 5 of 6 pages
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Item 6. Ownership of More than 5% on Behalf of Another Person:
DDC&R and its sole stockholder and sole director,
Carole J. McNeil, have the right to receive or the
power to direct the receipt of dividends from,
or the proceeds from the sale of, the units of
limited partnership interests of McNeil Real
Estate Fund XXVII, L.P.
Item 7. Identification and Classification of the Subsidiary which
Acquired the Security Being Reported on By The Parent Holding
Company:
Not applicable
Item 8. Identification and Classification of Members of the Group:
Not Applicable
Item 9. Notice of Dissolution of Group:
Not Applicable
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
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Page 6 of 6 pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date: April 15, 1998
Opal Partners, L.P.
By: DDC&R, Inc.
its general partner
By: /s/ Carole J. McNeil
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Name: Carole J. McNeil
Title: President
