0000711642-11-000174.txt : 20110728 0000711642-11-000174.hdr.sgml : 20110728 20110728140643 ACCESSION NUMBER: 0000711642-11-000174 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110722 ITEM INFORMATION: Completion of Acquisition or Disposition of Assets ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110728 DATE AS OF CHANGE: 20110728 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTURY PROPERTIES FUND XVII CENTRAL INDEX KEY: 0000356472 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 942782037 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-11137 FILM NUMBER: 11992978 BUSINESS ADDRESS: STREET 1: 55 BEATTIE PLACE STREET 2: PO BOX 1089 C/O INSIGNIA FINANCIAL GROUP CITY: GREENVILLE STATE: SC ZIP: 29602 BUSINESS PHONE: 8642391000 MAIL ADDRESS: STREET 1: 55 BEATTIE PLACE STREET 2: P O BOX 1089 CITY: GREENVILLE STATE: SC ZIP: 29602 8-K 1 cpf17hampdenheights_8k.htm 8K UNITED STATES

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) July 22, 2011

 

CENTURY PROPERTIES FUND XVII, LP

(Exact name of Registrant as specified in its charter)

 

Delaware

0-11137 

94-2782037

(State or other jurisdiction

(Commission

(I.R.S. Employer

of incorporation or organization)

File Number)

Identification Number)

 

 

55 Beattie Place

Post Office Box 1089

Greenville, South Carolina 29602

(Address of principal executive offices)

 

 

(864) 239-1000

(Issuer's telephone number)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

 

[ ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[ ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

[ ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

[ ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 2.01 Completion of Acquisition or Disposition of Assets.

 

Century Properties Fund XVII, LP (the “Registrant”), a Delaware limited partnership, owns a 100% interest in Apartment Lodge 17A LLC, a Colorado limited liability company (the “Company”). The Company owned Hampden Heights Apartments (“Hampden Heights”), a 376-unit apartment complex located in Denver, Colorado. The assets and liabilities of Hampden Heights were allocated solely to the holders of the Series B Units of the Registrant for all purposes. On July 22, 2011, the Company sold Hampden Heights to a third party, FF Realty LLC, a Delaware limited liability company (the “Purchaser”), for a total sales price of $22,750,000. The Registrant continues to own and operate three other investment properties, all of which are allocated solely to the holders of Series A Units of the Registrant for all purposes.

 

In accordance with the terms of the Amended and Restated Limited Partnership Agreement of the Registrant, the Registrant’s managing general partner is currently evaluating the cash requirements of the Registrant to determine what portion of the net sales proceeds, if any, will be available to distribute to the holders of Series B Units of the Registrant.

 

Item 9.01   Financial Statements and Exhibits

 

(b) Pro forma financial information.

 

The following unaudited pro forma balance sheet and statements of operations reflect the operations of the Registrant as if Hampden Heights had been sold on January 1, 2010. 

 

The pro forma financial statements do not project the Registrant’s results of operations at any future date or for any future period. This pro forma information should be read in conjunction with the Registrant’s Quarterly Report on Form 10-Q for the period ended March 31, 2011 and the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010.

 

PRO FORMA BALANCE SHEET

(in thousands)

March 31, 2011

 

All other assets

       $  1,610

Investment properties, net

         14,095

    Total Assets

       $ 15,705

 

 

All other liabilities

       $  5,675

Mortgage notes payable

         45,832

Partners’ deficit

        (35,802)

    Total Liabilities and Partners’ Deficit

       $ 15,705

 

 

PRO FORMA STATEMENTS OF OPERATIONS

(in thousands, except per unit data)

 

 

Three Months Ended

 Year Ended

 

 

March 31, 2011

December 31, 2010

 

 

 

Total revenues

     $  2,511

     $ 10,030

Total expenses

       (2,857)

      (11,936)

Casualty gain

       --

      36 

Net loss

     $   (346)

     $ (1,870)

 

Net loss per limited partnership unit

     $  (4.07)

     $ (21.99)