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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                     FORM 15

CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF
THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER
SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

                                                Commission File Number 000-09097

                        THE PEREGRINE REAL ESTATE TRUST
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


            1300 ETHAN WAY, SUITE 200, SACRAMENTO, CALIFORNIA 95825,
                            TELEPHONE (916) 929-8244
- --------------------------------------------------------------------------------
    (Address, including zip code, and telephone number, including area code,
                  of registrant's principal executive offices)


                    COMMON STOCK, PAR VALUE $0.01 PER SHARE
- --------------------------------------------------------------------------------
            (Title of each class of securities covered by this Form)


                                      NONE
- --------------------------------------------------------------------------------
   (Title of all other classes of securities for which a duty to file reports
                      under section 13(a) or 15(d) remains)

         Please place an X in the box(es) to designate the appropriate rule
provision(s) relied upon to terminate or suspend the duty to file reports:

             Rule 12g-4(a)(1)(i)   |X|           Rule 12h-3(b)(1)(i)    |_|
             Rule 12g-4(a)(1)(ii)  |_|           Rule 12h-3(b)(1)(ii)   |_|
             Rule 12g-4(a)(2)(i)   |_|           Rule 12h-3(b)(2)(i)    |_|
             Rule 12g-4(a)(2)(ii)  |_|           Rule 12h-3(b)(2)(ii)   |_|
                                                 Rule 15d-6             |_|

         Approximate number of holders of record as of the certification or
notice date: Approximately 10.

         Pursuant to the requirements of the Securities Exchange Act of 1934
(NAME OF REGISTRANT AS SPECIFIED IN CHARTER) has caused this
certification/notice to be signed on its behalf by the undersigned duly
authorized person.

Date:  March 12, 2001                    By:       /s/ ROGER D. SNELL
     ------------------------------         -----------------------------------
                                                Roger D. Snell, President and
                                                   Chief Executive Officer

Instruction: This form is required by Rules 12g-4, 12h-3 and 15d-6 of the
General Rules and Regulations under the Securities Exchange Act of 1934. The
registrant shall file with the Commission three copies of Form 15, one of which
shall be manually signed. It may be signed by an officer of the registrant, by
counsel or by any other duly authorized person. The name and title of the person
signing the person signing the form shall be typed or printed under the
signature.


                POTENTIAL PERSON WHO ARE TO RESPOND TO THE COLLECTION OF INFOR-
SEC 2069 (3-99) MATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS
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