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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 6, 1996
Brauvin Net Lease V, Inc.
(Exact name of registrant as specified in its charter)
Maryland 0-28332 36-3913066
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
organization) Number)
150 South Wacker Drive, Suite 3200, Chicago, Illinois 60606
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code(312) 443-0922
Not Applicable
(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant
On December 6, 1996, Brauvin Net Lease V, Inc. (the "Fund")
dismissed Ernst & Young LLP as its independent accountant. Ernst
& Young LLP's report on the financial statements for either of the
past two years did not contain an adverse opinion or disclaimer of
opinion and was not modified as to uncertainty, audit scope or
accounting principles. The decision to change the Fund's
accountant was approved by the Fund's Board of Directors to reduce
the costs associated with the audit. In the Fund's fiscal years
ended 1994 and 1995 and the subsequent interim period preceding the
dismissal there were no disagreements with Ernst & Young LLP on any
matter of accounting principles or practices, financial statement
disclosure or auditing scope or procedure which would have caused
Ernst & Young LLP to make reference to the matter in their report.
There were no reportable events as that term is described in Item
304(a)(1)(iv)(B) of Regulation S-B.
On December 6, 1996, the Fund engaged Deloitte & Touche LLP as
its independent accountant. The decision to engage Deloitte &
Touche LLP was approved by the Board of Directors. Neither the
Fund (nor someone on its behalf) consulted Deloitte & Touche LLP
regarding: (i) the application of accounting principles to a
specific transaction, either completed or proposed, or the type of
audit opinion that might be rendered on the Fund's financial
statements; or (ii) any matter that was either the subject of a
disagreement or a reportable event.
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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.
BRAUVIN NET LEASE V, INC.
By: /s/ Jerome J. Brault
Jerome J. Brault, Chairman of the Board,
President and Chief Executive Officer
Dated: December 11, 1996
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