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Date of Report (Date of earliest event reported): January 26, 1998
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
UNDER THE SECURITIES EXCHANGE ACT OF 1934
KP Wingate Insured Partners Limited Partnership
75 Central Street
Boston, Massachusetts 02109
(617) 574-9000
(Address and telephone number of principal executive offices)
Massachusetts 0-16799 04-2969834
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
Item 2. Acquisition or Disposition of Assets.
KP Wingate Insured Partners Limited Partnership (the "Partnership") was
formed on May 22, 1987 to originate, process, service and fund mortgage loans
for its own account. As these mortgage loans were repaid, the repayment funds
were set aside for distribution to the investors in the Partnership. On Monday,
January 26, 1998, the owner of the project known as Holly Ridge Apartments (the
"Project") refinanced the Project, which resulted in the pay-off of its
Participating Insured Mortgage of approximately Four Million Six Hundred Twenty
Thousand Dollars ($4,620,000). The loan for Holly Ridge Apartments was the
final loan in the Partnership's loan portfolio, leaving only a limited
partnership interest in the project known as Deauville Apartments under the
Partnership's control. Deauville Apartments is subject to a purchase and sale
agreement, with an expected closing to occur within the next fifteen (15) to
thirty (30) days. This sale will permit the Partnership to recover
approximately Two Hundred Thousand Dollars ($200,000) in advances it made during
1997 to facilitate the sale. Upon closing the sale of Deauville Apartments, the
Partnership will proceed with the liquidation of all funds held in the
Partnership, and the dissolution and winding up of the Partnership.
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S I G N A T U R E S
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, in the City of Boston, State of
Massachusetts, this 10th day of February, 1998.
KP Wingate Insured Partners
Limited Partnership
Date: February 10, 1998 By: Continental Wingate Properties, Inc.
General Partner
/s/ Brian Callahan,
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Brian Callahan, Treasurer
