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): December 5, 1995
BEDFORD PROPERTY INVESTORS, INC.
(Exact name of Registrant as specified in its charter)
Maryland 1-12222 68-0306514
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
270 Lafayette Circle, Lafayette, California 94549
(Address of principal executive officer)
Registrant telephone number, including area code: (510) 283-8910
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Item 2. Acquisition or Disposition of Assets
On December 5, 1995, Bedford Property Investors, Inc. (the
Company ) completed the acquisition of the 3002 Dow Business Center,
a service center industrial project located in Tustin, California. The
project is comprised of five buildings and totals 192,125 square feet.
It was acquired from Tustin Properties, an Illinois general
partnership for $11,500,000. The Company used a portion of the net
cash proceeds from the sale on September 18, 1995 of its Series A
Convertible Preferred Stock to finance the acquisition.
Item 7. Financial Statement and Exhibits:
(A) Financial Statements
Required financial information disclosures with respect to
the acquisition of 3002 Dow Business Center will be filed by
amendment to this Form 8-K within sixty (60) days of the
date of this report.
(B) Pro forma Financial Information
Required pro forma financial information disclosures with
respect to the acquisition of 3002 Dow Business Center will
be filed by amendment to this Form 8-K within sixty (60)
days of the date of this report.
(C) Exhibit and Exhibit Index
2.1 Sale and Option Agreement dated as of August 26, 1995,
by and between Kemper Investors Life Insurance
Company, on behalf of itself and the Participants (as
designated therein), as Lender, the Company, as Buyer,
and Tustin Properties, as Owner, hereby is
incorporated by reference to Exhibit 10.19 of the
Company's quarterly report on Form 10-Q for the
quarterly period ended September 30, 1995.
99.1 Press Release regarding the acquisition of 3002 Dow
Business Center in Tustin, California
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SIGNATURE
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.
BEDFORD PROPERTY INVESTORS, INC.
By: /s/ Donald A. Lorenz
Donald A. Lorenz
Executive Vice President and
Chief Financial Officer
Date: December 19, 1995
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EXHIBIT 99.1
CONTACT: FOR IMMEDIATE RELEASE
Peter B. Bedford December 6, 1995
Chairman of the Board and
Chief Executive Officer
Donald A. Lorenz
Executive Vice President and
Chief Financial Officer
Telephone: (510) 283-8910
BEDFORD PROPERTY INVESTORS, INC.
COMPLETES ACQUISITION
LAFAYETTE, CA -- Bedford Property Investors, Inc. (NYSE:BED)
announced that it has completed the $11.5 million acquisition of the
Tustin Business Center, a service industrial project located in Tustin,
California.
The property is comprised of five buildings and totals 192,125
rentable square feet; it was acquired from Tustin Properties, an
affiliate of Kemper Corporation, and is part of the 315 acre Irvine
Industrial Complex. The property is 84% occupied by 54 tenants.
Bedford Property Investors is a self-administered equity real
estate investment trust (REIT) with investments in suburban office
buildings and industrial properties concentrated in the western United
States. It is traded on the New York and Pacific Stock Exchanges under
the symbol "BED."
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