8-K 1 cpf19tambay_8k.htm 8-K 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) September 28, 2012

 

CENTURY PROPERTIES FUND XIX, LP

 (Exact name of Registrant as specified in its charter)

 

 

Delaware

0-11935

94-2887133

(State or other jurisdiction

(Commission

(I.R.S. Employer

of incorporation)

File Number)

Identification Number)

 

 

80 International Drive

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 XIX, LP, a Delaware limited partnership (the “Registrant”), owned Tamarind Bay Apartments (“Tamarind Bay”), a 200-unit apartment complex located in St. Petersburg, Florida. On September 28, 2012, the Registrant sold Tamarind Bay to a third party, Augustus Partners, LLC, a Colorado limited liability company (the “Purchaser”), for a total sales price of $12,750,000, less a $381,000 credit to the Purchaser for capital improvements.  The Registrant continues to own and operate two other investment properties.

 

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 Registrant’s partners.

 

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 Tamarind Bay had been sold on January 1, 2011. 

 

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 June 30, 2012 and the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011.

 

PRO FORMA BALANCE SHEET

(in thousands)

June 30, 2012

 

All other assets

       $    844

Investment properties, net

         16,469

    Total Assets

       $ 17,313

 

 

All other liabilities

       $    739

Mortgage notes payable

         30,398

Partners’ deficit

        (13,824)

    Total Liabilities and Partners’ Deficit

       $ 17,313

 

 

PRO FORMA STATEMENTS OF OPERATIONS

(in thousands, except per unit data)

 

 

Six Months Ended

Year Ended

 

June 30, 2012

December 31, 2011

 

 

 

Total revenues

   $ 3,104

     $ 5,804

Total expenses

    (4,713)

     (10,611)

Casualty gain

        --

     69

Net loss

   $(1,609)

     $(4,738)

 

Net loss per limited partnership unit

   $(15.90)

     $(46.81)