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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) AND (c) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(Amendment No. )*
Summit Properties Partnership, L.P.
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(Name of Issuer)
Units of Limited Partnership Interest
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(Title of Class of Securities)
N/A
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(CUSIP Number)
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* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this with respect to the subject class of
securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP NO. N/A 13G PAGE 2 OF 5 PAGES
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<TABLE>
<S> <C>
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1 NAME OF REPORTING
PERSON
S.S. or I.R.S. Identification No. Of Above Person
Summit Properties Inc.
56-1857807
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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5 SOLE VOTING POWER
23,411,086
NUMBER OF -------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY -------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 23,411,086
PERSON -------------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,411,086
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 85.32%
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12 TYPE OF REPORTING PERSON* CO
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</TABLE>
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CUSIP NO. N/A 13G PAGE 3 OF 5 PAGES
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ITEM 1 (A). NAME OF ISSUER
Summit Properties Partnership, L.P.
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
212 South Tryon Street, Suite 500, Charlotte, NC 28281
ITEM 2(A). NAME OF PERSON FILING
Summit Properties Inc.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
212 South Tryon Street, Suite 500, Charlotte, NC 28281
ITEM 2(C). CITIZENSHIP
Maryland
ITEM 2(D). TITLE OF CLASS OF SECURITIES
Units of Limited Partnership Interest
ITEM 2(E). CUSIP NUMBER
n/a
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK
WHETHER THE PERSON IS FILING IS A:
(a) [ ] Broker or Dealer registered under Section 15 of the Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19) of the act
(d) [ ] Investment Company registered under section 8 of the Investment
Company Act
(e) [ ] Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund; see ss.240.13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with
ss.240.13d-1(b)(ii)(G) (Note: See Item 7)
(h) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(H)
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CUSIP NO. N/A 13G PAGE 4 OF 5 PAGES
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ITEM 4. OWNERSHIP
(a) Amount Beneficially Owned
23,411,086
(b) Percent of Class
85.32%
(C) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) sole power to vote or to direct the vote 23,411,086
(ii) shared power to vote or to direct the vote -0-
(iii) sole power to dispose or to direct the disposition of 23,411,086
(iv) shared power to dispose or to direct the disposition of -0-
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
n/a
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
n/a
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITIES BEING REPORTED ON BY THE PARENT HOLDING COMPANY
n/a
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
n/a
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
n/a
ITEM 10. CERTIFICATION
n/a
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CUSIP NO. N/A 13G PAGE 5 OF 5 PAGES
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
2/11/98
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Date
/s/ Michael G. Malone
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Signature
Michael G. Malone
Senior Vice President
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Name/Title
