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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): May 29, 1998
SUMMIT PROPERTIES INC.
(Exact name of Registrant as specified in charter)
Delaware 1-2792 56-1857807
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(State or other jurisdiction (Commission file number) (IRS employer
of incorporation) identification no.)
212 South Tryon Street, Suite 500, Charlotte, NC 28281
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(Address of principal executive offices) (Zip Code)
(704) 334-9905
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(Registrant's telephone number, including area code)
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Item 5. Other Events
On May 29, 1998, Summit Properties Partnership, L.P. a Delaware limited
partnership (the "Partnership"), the entity through which Summit Properties
Inc., a Maryland corporation (the "Company") principally conducts its business,
commenced a Medium-Term Note Program (the "Program") which provides that the
Partnership may offer and sell from time to time its Medium-Term Notes due Nine
Months or More from Date of Issue in an aggregate principal amount of up to
$95,000,000 (the "MTNs") as described in the Partnership's Prospectus Supplement
dated May 29, 1998 to the Partnership's Prospectus dated July 29, 1997. The
Partnership's Prospectus Supplement was filed with the Securities Exchange
Commission under Rule 424(b)(3) on May 29, 1998. The MTNs will be issued
pursuant to the Partnership's and the Company's existing shelf registration
statement on Form S-3 (Registration No. 333-25575).
The MTNs will be offered and sold by J.P. Morgan Securities Inc., First Union
Capital Markets, a division of Wheat First Securities, Inc., Merrill Lynch &
Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co.
Incorporated as Agents for the Partnership (the "Agents") pursuant to that
certain Distribution Agreement among the Partnership, the Company and the Agents
dated May 29, 1998. The MTNs will be issued under an Indenture between the
Company and First Union National Bank, as trustee (the "Trustee").
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Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Business Acquired: Not Applicable
(b) Pro Forma Financial Information: Not Applicable
(c) Exhibits:
1.1 Distribution Agreement among the Partnership, the
Company, and the Agents, dated May 29, 1998, relating
to the MTNs (incorporated by reference to the Form
8-K filed by the Partnership on June 2, 1998 (File
No. 0-22411)).
4.1 Indenture, dated as of August 7, 1997, between the
Partnership and the Trustee (incorporated by
reference to the Form 8-K filed by the Partnership on
August 11, 1997(File No. 0-22411)).
4.2 Supplemental Indenture No. 3 dated as of May 29, 1998
between the Partnership and the Trustee including a
form of Floating Rate Medium-Term Note and a form of
Fixed Rate Medium-Term Note. (incorporated by
reference to the Form 8-K filed by the Partnership on
June 2, 1998 (File No. 0-22411))
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be filed on its behalf by
the undersigned hereunto duly authorized.
SUMMIT PROPERTIES INC.
Dated: June 2, 1998 By: /s/ Michael L. Schwarz
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Michael L. Schwarz
Executive Vice President
Chief Financial Officer
