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:
November 6, 1997
Southeast Acquisitions I, L.P.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
0-16835 23-2454443
(Commission File Number) (I.R.S. Employer Identification
Number)
250 King of Prussia Road
Radnor, PA
(Address of principal executive offices)
19087
(Zip Code)
610-964-7234
(Registrant's telephone number)
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Item 1. Changes in Control of Registrant.
At a Special Meeting of Partners on November 6, 1997, the limited
partners approved by requisite vote a set of amendments to the Partnership
Agreement which resulted in the following modifications to the Partnership
Agreement, effective as of November 6, 1997:
(i) the termination date of the Partnership was extended from
December 31, 1997 to December 31, 2000;
(ii) Southern Management Group, LLC, a Tennessee limited
liability company, was substituted for Southeast Acquisitions, Inc., as the
General Partner. Southern Management Group, LLC is located in Nashville,
Tennessee, at the following address:
Southern Management Group, LLC
c/o Southeast Venture Corporation, Inc.
301 South Perimeter Park Drive
Suite 115
Nashville, TN 37211
(iii)Southern Management Group, LLC can act as a broker for the
Partnership and earn commissions on sales of the Property up to a maximum
of 10% which is the maximum commission which can be paid in total on any
sale;
(iv) Southern Management Group, LLC will be paid a management fee
of $8,100 per annum;
(v) Southern Management Group, LLC has been given the exclusive
right to sell the Property and can sell 60% or more of the acreage held as
of September 22, 1997 in a single transaction only if it receives
consideration equal to or greater than the Acquisition Cost of the asset
sold or if it receives the consent of a majority in interest of the Limited
Partners.
Southern Management Group, LLC is a Tennessee limited liability
company whose members are Richard W. Sorenson, who owns a 51% interest in
the company, and Southeast Venture Corporation, Inc., a Tennessee
corporation which owns a 49% interest. Additional information regarding
the new General Partner was provided in the Proxy Statement relating to the
Notice of Special Meeting of the Limited Partners on November 6, 1997.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act
of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
Southern Management Group,
LLC, general partner
Date: November 18, 1997 By: /s/ Richard W. Sorenson
Richard W. Sorenson
President and Member
