SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 20, 1995
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LANDSING PACIFIC FUND, INC.
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(Exact name of registrant as specified in its charter)
1-9942
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Commission File Number
MARYLAND 94 - 3066597
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(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification number)
155 Bovet Road, Suite 101, San Mateo, California 94402
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(Address of principal executive offices)
(415) 513-5252
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(Registrant's telephone number, including area code)
N/A
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(Former name or former address, if changed since last report)
<PAGE>
Item 5. OTHER EVENTS:
On September 20, 1995, the registrant announced the sale of Country
Hills Towne Center in Diamond Bar, California for $12,550,000, net of
commission, and the realization of a $2,600,000 discount on the
repayment of the mortgage loan which was collateralized by the
property. The event is described in the press release attached hereto
as Exhbit 99.1 and incorported by reference herein.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
The following exhibits are filed as part of this report:
99.1 Landsing Pacific Fund, Inc. Press Release dated
September 20, 1995.
SIGNATURES
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 thereunto duly authorized.
Date: September 20, 1995 Signed by: /s/Dean Banks
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Name: Dean Banks
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Title: Secretary and Treasurer
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EXHIBIT 99.1
N E W S R E L E A S E
- - - - - - - - - - -
September 20, 1995
CONTACT:
Martin I. Zankel Dean Banks
Chairman of the Board Chief Financial Officer
FOR IMMEDIATE RELEASE:
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LANDSING PACIFIC FUND, INC.
ANNOUNCES SALE OF SOUTHERN CALIFORNIA PROPERTY
AND DISCOUNTED LOAN PAYMENT
SAN MATEO, CA -- Landsing Pacific Fund, Inc. (AMEX:LPF) announced today the sale
of Country Hills Towne Center in Diamond Bar, California for $12,550,000, net of
commission. As a result of the sale, the Fund was able to realize a $2,600,000
discount on the repayment of the mortgage debt which was collateralized by the
property.
The Fund also reported that the Annual Stockholders' Meeting will be held on
October 23, 1995, at which time stockholders will be asked to approve a plan to
liquidate the Fund. If the Fund is liquidated, the net liquidation proceeds,
after realization of the loan discount, were estimated in a recently issued
proxy statement at between $4.42 and $4.88 per share. This estimate was based on
certain valuations prepared by Ernst & Young, in addition to management
estimates of other proceeds and costs of liquidation. The Fund cautioned,
however, that there can be no assurance that the actual net proceeds will be
within the estimated range or when net proceeds will be distributed.
Landsing Pacific Fund, Inc. is a self-administered real estate investment trust
with equity investments in industrial properties, and shopping centers. Its
shares are traded on the American Stock Exchange under the symbol "LPF."
