SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): August 28, 1997
Eagle Insured L.P.
(Exact Name of Registrant as Specified in Charter)
Delaware (Limited Partnership)
(State or other Jurisdiction of Incorporation)
0-16860 13-3442945
(Commission File Number) (IRS Employer Identification Number)
625 Madison Avenue, New York, NY 10022
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (212) 421-5333
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
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On August 28, 1997, the United States District Court for the Southern
District of New York (the "Court") approved the settlement (the "Settlement") of
the class action litigation relating to Eagle Insured L.P. (the "Partnership")
against Related Federal Insured L.P. (the "Related General Partner") and certain
of its affiliates (In re Prudential Securities Inc. Limited Partnership
Litigation, MDL No. 1005). As part of the Settlement, the Court approved the
consolidation (the "Consolidation") of the Partnership with Summit Insured
Equity L.P., Summit Insured Equity II L.P., and Summit Preferred Equity L.P.
(collectively with the Partnership, the "Partnerships"), three other limited
partnerships co-sponsored by affiliates of the Related General Partner and
Prudential-Bache Properties, Inc. (the "P-B General Partner"). The new entity
will be Aegis Realty, Inc., a Maryland real estate investment trust, (the
"REIT"). The REIT will engage an affiliate of the Related General Partner to
manage its day to day affairs (the "Advisor").
The REIT has been approved for listing subject to notice of issuance on the
American Stock Exchange under the symbol "AER". The REIT is an open-ended,
infinite life entity formed to generate distributable cash flow through the
acquisition and ownership (either directly or through subsidiary partnerships)
of a diversified portfolio of retail and residential properties and
participating FHA insured and co-insured mortgages consistent with the present
objectives of the Partnerships. The REIT will initially own direct or indirect
interests in 14 neighborhood shopping centers, two garden apartment complexes
and three participation FHA co-insured mortgage loans and will initially have a
net asset value of approximately $121,000,000.
As part of the Consolidation, the Advisor will acquire the general partner
interest of the P-B General Partner and will contribute one half of such
interest back to the Partnership.
The Consolidation and commencement of trading of shares of the REIT is
expected to occur in October of 1997, although no assurance can be given
regarding the exact timing of such events.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a). Financial Statements
Not Applicable
(b). Pro Forma Financial Information
Not Applicable
(c). Exhibits
None
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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.
Eagle Insured L.P.
(Registrant)
By: Related Federal Insured L.P.
A Delaware Corporation, General Partner
BY: /s/ Stuart J. Boesky
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Stuart J. Boesky
Senior Vice President
September 16, 1997
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