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 21, 1999
COMMERCIAL ASSETS, INC.
----------------------------------------------------
(Exact name of registrant as specified in its charter)
MARYLAND 1-2262 84-1240911
(State or other (Commission (I.R.S. Employer
jurisdiction of File Identification No.)
incorporation or Number)
organization)
3410 GALENA STREET, SUITE 210 80231
DENVER, COLORADO (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code (303) 614-9410
ITEM 5. OTHER EVENTS
On April 21, 1999, Commercial Assets, Inc. announced its intent to
acquire shares of Asset Investors Corporation. The press release is
attached hereto as Exhibit 99.1 and is incorporated herein by reference.
ITEM 7. EXHIBITS
99.1 Press Release
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.
COMMERCIAL ASSETS, INC.
By:/s/ David Becker
---------------------------
Name: David Becker
Title: Chief Financial Officer
and Secretary
Date: April 21, 1999
EXHIBIT INDEX
Exhibit Description
99.1 Press Release
EXHIBIT 99.1
NEWS BULLETIN
COMMERCIAL ASSETS, INC.
FOR IMMEDIATE RELEASE 3410 South Galena Street
Wednesday, April 21, 1999 Denver, Colorado 80231
____________________________________________________________________________
COMMERCIAL ASSETS, INC. ANNOUNCES OPEN MARKET
PURCHASE PLAN FOR ASSET INVESTORS CORPORATION STOCK
DENVER, CO, April 21, 1999 (AMEX: CAX)
Commercial Assets, Inc. (AMEX: CAX) today announced that it will purchase
up to 1,000,000 shares of the common stock of Asset Investors Corporation
in open market and privately negotiated transactions. CAX said that the
timing and extent of any purchases would depend upon market conditions and
other factors. The shares will be purchased with available working
capital.
CAX is a Denver-based real estate investment trust (REIT) that has begun to
acquire interests in manufactured home communities. Since August 1998, CAX
has invested approximately $31 million in seven communities in Arizona,
Florida and California involving approximately 930 developed homesites, 50
sites ready for homes and 1,180 sites available for development.
Asset Investors Corporation is a Denver-based real estate investment trust
(REIT) that holds interests in 24 manufactured housing communities, owns
27% of CAX and manages CAX.
Contact: Bruce E. Moore, President (610) 388-9615
David M. Becker, Chief Financial Officer (303) 614-9422
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