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): May 30, 2003

                          Berkshire Income Realty, Inc.
             (Exact Name of Registrant as Specified in its Charter)


    Maryland                             001-31659                  32-0024337
(State or other jurisdiction            (Commission             (I.R.S. Employer
of incorporations or organization)      File Number)         Identification No.)

One Beacon Street, Boston, Massachusetts                                02108
(Address of principal executive offices)                             (Zip Code)

       Registrant's telephone number, including area code: (617) 523-7722

                                 Not applicable
          (Former Name or Former Address, if Changed Since Last Report)





ITEM 2.  ACQUISITION OF ASSETS.

On May 30, 2003,  Berkshire  Income Realty - OP, L.P. (the "OP"),  the operating
partnership  subsidiary  of  Berkshire  Income  Realty,  Inc.  (the  "Company"),
acquired  the  partnership  interests  of McNab  KC3  Limited  Partnership  (the
"Partnership"),  the fee simple  owner of Windward  Lakes  Apartments a 276-unit
multi-family  apartment  community  located in  Pompano,  Florida.  Prior to the
transaction the lender on the property,  an affiliate of the Company,  engaged a
third party  appraisal  firm to determine the value of the property for purposes
of  determining  the total  amount  payable to the lender under the terms of its
participating  mortgage.  The third party  appraisal firm valued the property at
$19 million.  Total  consideration  for the partnership  interests  included the
assumption  of  approximately  $19.5  million of first  mortgage  debt and other
obligations  (payable to  affiliates  of the Company's  advisory  company).  The
partnership  interests  include the real  estate as well as other  assets of the
Partnership,  including cash balances. The appraised value equates to a purchase
price of approximately $68,800 per apartment unit.

The Partnership  interests were contributed to the OP by George Krupp,  Chairman
of the Board of Directors  and his brother,  Douglas  Krupp,  subject to certain
obligations  of the  Partnership  and its partners  including the  assumption of
$13.4 million of first mortgage debt,  including accrued interest,  $4.8 million
of principal,  accrued  interest,  participation  interest and interest  rebates
secured by the Partnership  interests (the "Additional Loan") and the assumption
of approximately $1.3 million of liabilities  payable to other affiliates of the
Company's  advisory  company.  Upon  completion of the acquisition the Operating
Partnership  immediately  paid off the first mortgage and  Additional  Loan debt
totaling $18.2 million using available cash.

Windward Lakes  Apartments was constructed in 1992 and was 93.1% occupied at the
time of acquisition.

ITEM 5.  OTHER EVENTS.

On April 24,  2003,  Berkshire  Income  Realty - OP,  L.P.,  acquired all of the
equity interests in Gables of Texas Limited Partnership ("Gables") and Gables of
Texas,  L.L.C.,  the general partner of Gables,  from KRF Company,  L.L.C.,  the
Company's sole common shareholder.  Gables is the fee simple owner of The Gables
Apartments  a 140-unit  multi-family  apartment  community  located in  Houston,
Texas.  The  purchase  price of $6.25  million was funded with  available  cash.
Gables had acquired the property from an unrelated third party on March 20, 2003
for an equal purchase  price.  The Gables was  constructed in 1983 and was 91.4%
occupied at the time of acquisition.  The Gables acquisition is not deemed to be
"significant" by the Company.







ITEM 7.  Financial Statements, Pro forma Financial Information and Exhibits

(a) Financial Statements of Assts Acquired:

              Financial statements for McNab KC3 Limited Partnership will be
              filed by amendments as soon as practicable, but not later than
              August 13, 2003.

(b) Pro Forma Financial Information:

              Pro forma financial information will be filed by amendment as soon
as practicable, but not later than August 13, 2003.

(c)      Exhibits

EXHIBIT NO.

10.1 Contribution  and Sale Agreement,  dated May 29, 2003,  among George Krupp,
     Douglas Krupp,  Krupp GP, Inc,  Berkshire Income Realty-OP,  L.P. and McNab
     Sub, L.L.C.









                                   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.


                                            Berkshire Income Realty, Inc.

Date: June 16, 2003                         By: /s/ David C. Quade
                                               ------------------------------
                                            Name:  David C. Quade
                                            Title: President and Chief Financial
                                                   Officer