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Previous: U S TREASURY MONEY FUND OF AMERICA, NSAR-A, EX-27, 2000-05-30 |
Next: INSURED MUNICIPALS INC TR & INV QUAL TAX EX TR MULTI SER 137, 497J, 2000-05-30 |
FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) May 15, 2000
Realty Parking Properties II L.P.
(Exact Name of Registrant as Specified in its Charter)
Delaware 000-20147 52-1710286
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification Number)
225 East Redwood Street, Baltimore, Maryland 21202
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (410) 727-4083
N/A
(Former name or former address, if changed since last report.)
<PAGE>
REALTY PARKING PROPERTIES II L.P.
<TABLE>
<CAPTION>
Index
Page(s)
<S> <C>
Item 1 Changes in Control of Registrant Inapplicable
Item 2 Acquisition or Disposition of Assets 1
Item 3 Bankruptcy or Receivership Inapplicable
Item 4 Changes in Registrant's Certifying Accountant Inapplicable
Item 5 Other Events Inapplicable
Item 6 Resignations of Registrant's Directors Inapplicable
Item 7 Financial Statements and Exhibits:
Narrative 1
Pro Forma Balance Sheet as of March 31, 2000 2
Pro Forma Statement of Operations for the three months
ending March 31, 2000 3
Pro Forma Statement of Operations for the year
ending December 31, 1999 4
Notes to Pro Forma Financial Statements 5
Item 8 Change in Fiscal Year Inapplicable
Item 9 Sales of Equity Securities Pursuant to Regulation S Inapplicable
Signatures 6
</TABLE>
<PAGE>
REALTY PARKING PROPERTIES II L.P.
Item 2. Acquisition or Disposition of Assets
On May 15, 2000, the Fund sold its 50,000 square-foot parcel of land,
located in San Diego, California for $4,328,000. The Fund's investment in the
property was $2,226,652.
UNAUDITED PRO FORMA FINANCIAL INFORMATION
The following unaudited pro forma Balance Sheet assumes the sale of the San
Diego-B, California property on March 31, 2000. The unaudited pro forma
Statements of Operations assume the sale of the property on January 1, 2000, and
January 1, 1999.
This information should be read in conjunction with the Fund's Form 10-K
for the year ended December 31, 1999 and its Form 10-Q for the period ended
March 31, 2000.
1
<PAGE>
REALTY PARKING PROPERTIES II L.P.
Pro Forma Balance Sheet
Unaudited
<TABLE>
<CAPTION>
March 31,
2000 Pro Forma Pro Forma
Historical Adjustments Results
------------------ ----------------- ------------------
Assets
<S> <C> <C> <C> <C>
Investment in real estate. net $ 15,995,275 $ (2,226,652) (1) $ 13,768,623
Cash and cash equivalents 683,673 683,673
Accounts receivable 184,390 184,390
Note receivable 550,000 550,000
---------------- ----------------- ------------------
$ 17,413,338 $ (2,226,652) $ 15,186,686
================== ================= ==================
Liabilities and Partners' Capital
Accounts payable and prepaid rent $ 65,012 $ $ 65,012
Due to affiliates 72,649 72,649
Real estate taxes payable 147,220 147,220
Note payable 2,086,000 2,086,000
---------------- ---------------- ----------------
2,370,881 0 2,370,881
------------------ ---------------- ------------------
Partners' Capital
General Partner - (22,267) (1) (22,267)
Assignee and Limited Partnership
Interests - $25 stated value per unit,
1,392,800 units outstanding 15,042,357 (2,204,385) (1) 12,837,972
Subordinated Limited Partner 100 100
------------------ ----------------- ----------------
15,042,457 (2,226,652) 12,815,805
------------------ ----------------- ------------------
$ 17,413,338 $ (2,226,652) $ 15,186,686
================== ================= ==================
</TABLE>
2
<PAGE>
REALTY PARKING PROPERTIES II L.P.
Pro Forma Statement of Operations
Unaudited
<TABLE>
<CAPTION>
Three Mos.
March 31,
2000 Pro Forma Pro Forma
Historical Adjustments Results
------------------ ----------------- ------------------
Revenues
<S> <C> <C>
Gain from sale of property $ 342,877 $ $ 342,877
Parking lot rental 44,899 (47,764) (2) (2,865)
Interest income 0
------------------ ----------------- ------------------
387,776 (47,764) 340,012
------------------ ----------------- ------------------
Expenses
Administrative, including amounts to related party 28,273 28,273
Professional fees 5,000 5,000
Management fees to related party 31,868 (3,656) (2) 28,212
Interest expense 45,457 45,457
Depreciation 15,535 15,535
------------------ ----------------- --
----------------
126,133 (3,656) 122,477
------------------ ----------------- ------------------
Earnings from operations 261,643 (44,108) (3) 217,535
Gain on sale of property, net 3,013,752 - 3,013,752
------------------ ----------------- ------------------
Net earnings $ 3,275,395 $ (44,108) $ 3,231,287
================== ================= ==================
Net earnings per unit of assignee and
limited partnership interests-basic $ 2.31 $ (0.03) (4) $ 2.28
================== ================= ==================
Cash distribution per unit of assignee and
limited partnership interests $ 4.52 $ (0.03) (4) $ 4.49
================== ================= ==================
</TABLE>
3
<PAGE>
REALTY PARKING PROPERTIES II L.P.
Pro Forma Statement of Operations
Unaudited
<TABLE>
<CAPTION>
Twelve Mos.
Dec. 31,
1999 Pro Forma Pro Forma
Historical Adjustments Results
------------------ ----------------- ------------------
Revenues
<S> <C> <C> <C> <C>
Parking lot rental $ 2,286,332 $ (133,104) (2) $ 2,153,228
Interest income 58,612 58,612
------------------ ----------------- ------------------
2,344,944 (133,104) 2,211,840
------------------ ----------------- ------------------
Expenses
Administrative, including amounts to related party 103,636 103,636
Professional fees 25,281 25,281
Management fees to related party 186,273 (14,625) (2) 171,648
Interest expense 200,311 200,311
Depreciation 160,066 160,066
Amortization 3,003 3,003
------------------ ----------------- --
----------------
678,570 (14,625) 663,945
------------------ ----------------- ------------------
Earnings from operations 1,666,374 (118,479) (3) 1,547,895
Gain on sale of property, net 6,311,322 - 6,311,322
------------------ ----------------- ------------------
Net earnings $ 7,977,696 $ (118,479) $ 7,859,217
================== ================= ==================
Net earnings per unit of assignee and
limited partnership interests-basic $ 5.58 $ (0.08) (4) $ 5.50
================== ================= ==================
Cash distribution per unit of assignee and
limited partnership interests $ 10.30 $ (0.08) (4) $ 10.22
================== ================= ==================
</TABLE>
4
<PAGE>
REALTY PARKING PROPERTIES II L.P.
Notes to Pro Forma Financial Statements
Unaudited
Note 1
On May 15, 2000, the Fund sold its 50,000 square-foot parcel of land,
located in San Diego, California for $4,328,000. The Fund's investment in the
property was $2,226,652. Investment in real estate and partners' capital have
been adjusted to reflect the sale of the property as of March 31, 2000, and the
related distribution of net sale proceeds in accordance with the Partnership
Agreement.
Note 2
Parking lot rental income and management fees have been adjusted to reflect
reductions in these items as if the property was sold at the beginning of each
period. The capital gain realized on the sale of the property is not included in
the pro forma statements of operations.
Note 3
There is no difference between the Fund's net earnings for income tax
purposes and net earnings for financial reporting purposes.
Note 4
Net earnings per unit and cash distributions per unit, as reflected in the
pro forma statements of operations for the twelve months ended December 31,
1999, and the three months ended March 31, 2000, are based upon 1,392,800 units
outstanding. The cash distributions were derived from net earnings from
operations and sale proceeds during the respective periods of operations.
5
<PAGE>
REALTY PARKING PROPERTIES II L.P.
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 hereunto duly authorized.
REALTY PARKING PROPERTIES II L.P.
DATE: 5/30/00 By: /s/ John M. Prugh
John M. Prugh
President
Realty Parking Company II, Inc.
General Partner
DATE: 5/30/00 By: /s/ Timothy M. Gisriel
Timothy M. Gisriel
Treasurer
Realty Parking Company II, Inc.
General Partner
6
<PAGE>
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