-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Wurf8rPuxHhkw7rVLOoWxlUcE8XZpjbah3c9xxFy2l1qXIG4EKvVhcecXJuHdxKj 4y5tFzP0fFVIrUF020WMkw== 0001104659-03-000154.txt : 20030114 0001104659-03-000154.hdr.sgml : 20030114 20030109090628 ACCESSION NUMBER: 0001104659-03-000154 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021227 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORNERSTONE REALTY FUND LLC CENTRAL INDEX KEY: 0001073149 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 330825254 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-76609 FILM NUMBER: 03508510 BUSINESS ADDRESS: STREET 1: 4590 MACARTHUR BLVD STREET 2: SUITE 610 CITY: NEWPORT BEACH STATE: CA ZIP: 92660 BUSINESS PHONE: 9498521007 MAIL ADDRESS: STREET 1: 4590 MACARTHUR BLVD STREET 2: SUITE 610 CITY: NEWPORT BEACH STATE: CA ZIP: 92660 FORMER COMPANY: FORMER CONFORMED NAME: CORNERSTONE INDUSTRIAL PROPERTIES INCOME & GROWTH FUND LLC DATE OF NAME CHANGE: 19981106 8-K 1 j6548_8k.htm 8-K

 

UNITED STATES

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 27, 2002

 

CORNERSTONE REALTY FUND, LLC

(Exact name of registrant as specified in its charter)

 

California

333-63656

33-0827161

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification Number)

 

4590 MacArthur Blvd., Suite 610
 Newport Beach, California 92660

(Address of principal executive offices)

 

 

(949) 852-1007

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Item  2.  Acquisition or Disposition of Assets

 

On December 27, 2002, we acquired an existing multi-tenant industrial business park known as the Sky Harbor Business Park, a single-story building built in 1976 of approximately 41,422 square feet of leasable space on approximately 2.145 acres of land.  The acquisition price was $2,575,000 plus approximately $40,000 of closing costs (which are not fully determined at this time), which equates to approximately $63 per square foot of leasable space.  The property was 100% leased on the acquisition date to six tenants whose spaces range in size from approximately 5,000 square feet to over 12,000 square feet.  We purchased this property for all cash, without debt financing.

The property is located in the Chicago area, specifically in the Northern Cook County Industrial sub-market in the Village of Northbrook, Illinois.

                An appraisal ordered for the purchase of this property, prepared in conformity with the Uniform Standards of Professional Practice and the Code of Ethics of the Appraisal Institute by an independent appraiser who is a member of the Appraisal Institute, reported the prospective market value for the Sky Harbor Business Park as of November 28, 2002, at $2,900,000.

 

Item 7.  Financial Statements and Exhibits

 

                The required financial statements will be filed by an amendment to this Current Report on Form 8-K no later than 60 days after January 9, 2003.

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

CORNERSTONE REALTY FUND, LLC

 

 

 

 

 

 

By:

CORNERSTONE INDUSTRIAL PROPERTIES, LLC

 

 

Its Managing Member

 

 

 

 

 

 

 

By:

CORNERSTONE VENTURES, INC.

 

 

 

Its Manager

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ TERRY G. ROUSSEL

 

 

 

 

Terry G. Roussel, President

 

 

 

 

(Principal Executive Officer)

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ TRACY A. THOMSON

 

 

 

 

Tracy A. Thomson, Chief Financial Officer

 

 

 

 

(Principal Financial Officer and

 

 

 

 

 Principal Accounting Officer)

 

 

Dated:   January 9, 2003

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