<PAGE> 1
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) APRIL 22, 1998
KOGER EQUITY, INC.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
FLORIDA
- --------------------------------------------------------------------------------
(State of incorporation or organization)
1-9997 59-2898045
- --------------------------------------------------------------------------------
(Commission File Number) (IRS Employer Identification No.)
3986 BOULEVARD CENTER DRIVE
JACKSONVILLE, FLORIDA
32207
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including
area code: (904) 398-3403
- --------------------------------------------------------------------------------
N/A
- --------------------------------------------------------------------------------
(Former name or former address, if
changed since last report)
<PAGE> 2
ITEM 5. OTHER EVENTS.
On April 22, 1998, Koger Equity, Inc. (the "Company") purchased (i) four
office buildings containing approximately 326,000 gross square feet, (ii) a
retail development consisting of seven buildings containing approximately
112,000 gross square feet and (iii) approximately 22 acres of developable land
(the "Colonnade Acquisition"). These properties were acquired from CSL Colonnade
Associates, a Georgia joint venture partnership, for a purchase price of
approximately $58.23 million and are located in Birmingham, Alabama. The
Colonnade Acquisition was partially funded by drawing $49 million from the
Company's secured revolving credit facility.
THE COMPANY PREVIOUSLY REPORTED THAT IT HAD AGREED TO PURCHASE THE
COLONNADE ACQUISITION IN A FORM 8-K, DATED MARCH 23, 1998, WHICH WAS FILED ON
MARCH 26, 1998.
THE FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
REQUIRED TO BE FILED FOR THE COLONNADE ACQUISITION WERE PREVIOUSLY FILED ON
MARCH 26, 1998, IN A FORM 8-K (DATED MARCH 23, 1998), UNDER ITEM 7 FINANCIAL
STATEMENTS AND EXHIBITS.
2
<PAGE> 3
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.
KOGER EQUITY, INC.
Dated: May 5, 1998 By: /s/ JAMES L. STEPHENS
--------------------------
James L. Stephens
Title: Vice President and
Chief Accounting Officer
3
