UNITED STATES
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): September 18, 1997
ASR INVESTMENTS CORPORATION
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(Exact name of registrant as specified in its charter)
MARYLAND 1-9646 86-0587826
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(State or other (Commission File No.) (IRS Employer ID No.)
jurisdiction of incorporation)
335 North Wilmot, Suite 250, Tucson, Arizona 85711
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(Address of principal executive office) (Zip Code)
(520) 748-2111
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Registrant's telephone number, including area code:
Not Applicable
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(Former name, former address and former fiscal year,
if changed since last report)
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ASR INVESTMENTS CORPORATION
Current Report on Form 8-K
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On September 18, 1997, the Company completed the acquisition from
independent third parties of three apartment communities ("MTP Properties)
containing a total of 900 units in the Dallas, Texas area. A description of the
acquisition and the communities is included in a Current Report on Form 8-K
filed by the Company on August 28, 1997. The sellers contributed the properties
to Heritage Communities L.P. of which the Company is the general partner. The
Company (i) assumed or refinanced mortgage debt totalling $18,035,000, (ii)
issued 374,581 shares of the Company's common stock, (iii) issued limited
partnership units in Heritage Communities, L.P. that are convertible to 27,721
shares of the Company's common stock, and (iv) paid $2,400,000 in cash to the
sellers. In addition, the Company plans to spend approximately $1,900,000 in
capital improvements in these three communities.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION, AND EXHIBITS.
(a) FINANCIAL STATEMENTS OF PROPERTIES ACQUIRED
The financial statements required under this Item 7 are included in a
Current Report on Form 8-K filed by the Company on August 28, 1997.
(b) PRO FORMA FINANCIAL STATEMENTS
The pro forma financial statements required under this Item 7 are
included in a Current Report on Form 8-K filed by the Company on August 28,
1997.
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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.
ASR INVESTMENTS CORPORATION
By: /s/ Joseph Chan
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Name: Joseph Chan
Its: Executive Vice President, Chief Operating Officer,
Secretary and Treasurer
September 29, 1997
