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
Date of Report (Date of earliest event reported) July 15, 1997
(July 1, 1997)
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GLENBOROUGH REALTY TRUST INCORPORATED
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(Exact name of registrant as specified in its charter)
Maryland 1-14162 94-3211970
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(State or other (Commission (IRS Employer
jurisdiction of File Number) I.D. Number)
incorporation)
400 South El Camino Real, Ste. 1100, San Mateo, California 94402
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(Address of principal executive offices)
Registrant's Telephone number, including area code:(415) 343-9300
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Item 2. ACQUISITION OR DISPOSITION OF ASSETS
On July 1, 1997, the Company acquired an office property containing 157,579
square feet (the "Centerstone Property") located in Irvine, California, from
Culver Center Associates II, a California general partnership. The total
acquisition cost, including capitalized costs, was approximately $30.4 million,
which consisted of (i) approximately $5.5 million in the form of 275,000
partnership units in the Operating Partnership (based on an agreed per unit
value of $20.00), and (ii) the balance in cash from a combination of borrowings
under the Line of Credit and the net proceeds of the sale of certain assets.
There is no relationship between the seller listed above and the Company, the
Company's Operating Partnership or any affiliated entities of the Company.
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Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(a)&(b) FINANCIAL STATEMENTS
As of the date of filing of this Current Report
on Form 8-K, it is impracticable for the Company
to provide the financial statements required by
Item 7 (a) & (b) of Form 8-K. In accordance with
Item 7(a)(4) of Form 8-K, the Company will by
amendment to this Form 8-K no later than 60 days
after July 15, 1997, file such financial
statements.
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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, hereunto duly authorized.
GLENBOROUGH REALTY TRUST INCORPORATED
By: Glenborough Realty Trust Incorporated,
Date: July 15, 1997 /s/ Andrew Batinovich
Andrew Batinovich
Director, Executive Vice President,
Chief Operating Officer
and Chief Financial Officer
(Principal Financial Officer)
Date: July 15, 1997 /s/ Terri Garnick
Terri Garnick
Senior Vice President,
Chief Accounting Officer,
Treasurer
(Principal Accounting Officer)
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