<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
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 29, 1997
COPLEY PENSION PROPERTIES VI; A REAL ESTATE LIMITED PARTNERSHIP
(Exact Name of Registrant as Specified in its Charter)
Massachusetts
(State or Other Jurisdiction of Incorporation)
0-17807 04-2988542
(Commission File Number) (IRS Employer Identification No.)
225 Franklin Street, 25th Floor
Boston, MA 02110
(Address of principal executive offices) (Zip Code)
(617) 261-9000
Registrant's Telephone Number, Including Area Code
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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This Current Report on Form 8-K/A amends the Current Report on Form 8-K filed by
the Registrant with the Securities and Exchange Commission on October 8, 1997.
Item 2. Acquisition or Disposition of Assets.
- ----------------------------------------------
On September 29, 1997, Copley Pension Properties VI; A Real Estate Limited
Partnership (the "Partnership") sold its property known as Stemmons Industrial
located at 13405 North Stemmons Freeway, Farmers Branch, Texas. The property
was sold to an unrelated third party for total gross proceeds of $4,500,000.
The terms of the sale were determined by arms-length negotiation between the
buyer and AEW Real Estate Advisors, Inc., on behalf of the seller. The
Partnership received net proceeds of $4,334,193 and recognized a gain of
$248,172.
Item 7. Financial Statements and Exhibits.
- -------------------------------------------
a.) Financial statements of businesses acquired.
Not Applicable.
b.) Pro Forma Financial Information.
In connection with the disposition of the asset discussed in Item 2 above,
pro forma financial statements are presented below. The pro forma balance sheet
is presented for the period ended June 30, 1997 (Exhibit A). The pro forma
income statements are presented for the fiscal year ended December 31, 1996
(Exhibit B) and the period ended June 30, 1997 (Exhibit C).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: November 26, 1997 COPLEY PENSION PROPERTIES VI;
A REAL ESTATE LIMITED PARTNERSHIP
(Registrant)
By: Sixth Copley Corp.
Managing General Partner
By: Wesley M. Gardiner, Jr.
--------------------------------
Name: Wesley M. Gardiner, Jr.
Title: President
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Copley Pension Properties VI; EXHIBIT A
A Real Estate Limited Partnership
Pro Forma Balance Sheet
June 30, 1997
Unaudited
<TABLE>
<CAPTION>
Pro Forma June 30, 1997
June 30, 1997 Adjustment Pro Forma
------------- ---------- ---------
<S> <C> <C> <C>
ASSETS
Real estate investments:
Joint ventures $15,240,872 - $15,240,872
Property, net 8,278,828 (3,950,132)(a) 4,328,696
-------------------- ----------------- -------------------------
23,519,700 (3,950,132) 19,569,568
Cash and cash equivalents 3,927,409 4,283,575 (a) 8,210,984
Short-term investments 1,260,485 - 1,260,485
------------------- ---------------- -------------------------
$28,707,594 $333,443 $29,041,037
==================== ================= =========================
LIABILITIES AND PARTNERS' CAPITAL
Accounts payable $87,161 5,000 (g) $92,161
Accrued management fee 51,517 - 51,517
Deferred disposition fees 582,677 135,000 (b) 717,677
-------------------- ----------------- -------------------------
Total liabilities 721,355 140,000 861,355
-------------------- ----------------- -------------------------
Partners' capital (deficit):
Limited partners ($768.98 per unit;
160,000 units authorized, 48,788
units issued and outstanding) 28,026,332 191,509 (a) 28,217,841
General partners (40,093) 1,934 (a) (38,159)
-------------------- ----------------- -------------------------
Total partners' capital 27,986,239 193,443 28,179,682
-------------------- ----------------- -------------------------
$28,707,594 $333,443 $29,041,037
==================== ================= =========================
</TABLE>
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Copley Pension Properties VI; EXHIBIT B
A Real Estate Limited Partnership
Pro Forma Income Statement
December 31, 1996
Unaudited
<TABLE>
<CAPTION>
Pro Forma December 31, 1996
December 31, 1996 Adjustment Pro Forma
------------------- ----------------- ----------------
Investment Activity
<S> <C> <C> <C>
Property rentals $818,078 (72,074)(c) $746,004
Property operating expenses (369,959) 162,216 (c) (207,743)
Depreciation and amortization (286,940) 152,416 (c) (134,524)
------------------- ----------------- ----------------
161,179 242,558 403,737
Joint venture earnings 1,164,123 - 1,164,123
------------------- ----------------- ----------------
Total real estate operations 1,325,302 242,558 1,567,860
Gain on sale of property - 210,068 (a),(h) 210,068
------------------- ----------------- ----------------
Total real estate activity 1,325,302 452,626 1,777,928
Interest on cash equivalents and short term investments 268,223 - 268,223
------------------- ----------------- ----------------
Total investment activity 1,593,525 452,626 2,046,151
Portfolio Expenses
Management fee 206,070 - 206,070
General and administrative 201,322 (5,559)(f) 195,763
------------------- ----------------- ----------------
407,392 (5,559) 401,833
------------------- ----------------- ----------------
Net income $1,186,133 $458,185 $1,644,318
=================== ================= ================
Net income per limited partnership unit $24.07 $9.30 (d) $33.37
=================== ================= ================
Number of limited partnership units
outstanding during the period 48,788 48,788 48,788
=================== ================= ================
</TABLE>
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Copley Pension Properties VI; EXHIBIT C
A Real Estate Limited Partnership
Pro Forma Income Statement
June 30, 1997
Unaudited
<TABLE>
<CAPTION>
Pro Forma June 30, 1997
June 30, 1997 Adjustment Pro Forma
------------------- ----------------- ------------------
Investment Activity
<S> <C> <C> <C>
Property rentals $ 415,032 (47,821)(e) $ 367,211
Property operating expenses (197,502) 68,974 (e) (128,528)
Depreciation and amortization (151,494) 76,208 (e) (75,286)
------------------- ----------------- ------------------
66,036 97,361 163,397
Joint venture earnings 657,539 - 657,539
------------------- ----------------- ------------------
Total real estate operations 723,575 97,361 820,936
Gain on sale of property - 210,068 (a),(h) 210,068
------------------- ----------------- ------------------
Total real estate activity 723,575 307,429 1,031,004
Interest on cash equivalents and short term investments 134,633 - 134,633
------------------- ----------------- ------------------
Total investment activity 858,208 307,429 1,165,637
Portfolio Expenses
Management fee 103,034 - 103,034
General and administrative 106,278 - 106,278
------------------- ----------------- ------------------
209,312 - 209,312
------------------- ----------------- ------------------
Net income $ 648,896 $ 307,429 $ 956,325
=================== ================= ==================
Net income per limited partnership unit $ 13.17 $ 6.24 (d) $ 19.41
=================== ================= ==================
Number of limited partnership units
outstanding during the period 48,788 48,788 48,788
=================== ================= ==================
</TABLE>
Pro Forma Financial Statement Footnotes:
(a) Disposition of asset as discussed in Item 2 herein and allocation of the
gain on such disposal to the Partners.
(b) Disposition fee incurred in connection with the disposition of the asset
discussed in Item 2 herein.
(c) Removal of 1996 operating activity related to the disposed asset discussed
in Item 2 herein.
(d) Calculation of net income per limited partnership unit after the removal of
operating activity and addition of the gain related to the disposed asset
discussed in Item 2 herein.
(e) Removal of 1997 year-to-date operating activity related to the disposed
asset discussed in Item 2 herein.
(f) Removal of appraisal and legal fees incurred during the pro forma period
for the disposed asset discussed in Item 2 herein.
(g) Estimated Legal fees still to be incurred by the Partnership related to the
sale. Included in calculation of the gain.
(h) Gain on sale is calculated using the net book value of the asset at June
30, 1997, the most recent interim date for which a balance sheet was
required at the time of the original 8-K filing.
