-----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, Sbyz9SBrv+UH5DznjoscAItX3PiVe3mEUUPA+EDyFQe3UXE+hpvsLSPGpjD4XZ76 Q36rQBoClNC0lUxsuZR1hQ== 0000711642-10-000299.txt : 20100915 0000711642-10-000299.hdr.sgml : 20100915 20100915143146 ACCESSION NUMBER: 0000711642-10-000299 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100909 ITEM INFORMATION: Completion of Acquisition or Disposition of Assets ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100915 DATE AS OF CHANGE: 20100915 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES 2 CENTRAL INDEX KEY: 0000719184 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 942883067 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-11723 FILM NUMBER: 101073650 BUSINESS ADDRESS: STREET 1: 55 BEATTIE PLACE STREET 2: P O BOX 1089 CITY: GREENVILLE STATE: SC ZIP: 29602 BUSINESS PHONE: 8642391000 MAIL ADDRESS: STREET 1: 55 BEATTIE PLACE STREET 2: P O BOC 1089 CITY: DENVER STATE: CO ZIP: 80222 8-K 1 ccip2glenbridge_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) September 9, 2010

 

CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES/2, LP

(Exact name of Registrant as specified in its charter)

 

 

Delaware

0-11723

94-2883067

(State or other jurisdiction

(Commission

(I.R.S. Employer

of incorporation)

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.

 

Consolidated Capital Institutional Properties/2, LP, a Delaware limited partnership (the “Registrant”), owns a 100% interest in CCIP/2 Village Brooke, L.L.C., a Delaware limited liability company (the “Company”).   The Company owned Glenbridge Manor Apartments (“Glenbridge”), a 274-unit apartment complex located in Cincinnati, Ohio.   On September 9, 2010, the Company sold Glenbridge to a third party, JRK Birchmont Advisors, LLC, a Delaware limited liability company (the “Purchaser”), for a total sales price of $26,200,000.  The Registrant continues to own and operate one investment property.

 

In accordance with the Amended and Restated Limited Partnership Agreement of the Registrant, the Registrant’s 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 Glenbridge had been sold on January 1, 2009.

 

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, 2010 and the Registrant’s 2009 Annual Report on Form 10-K.

 

PRO FORMA BALANCE SHEET

(in thousands)

 

 

 June 30, 2010

 

 

All other assets

       $ 1,022

Investment property, net

         9,235

    Total Assets

       $10,257

 

 

All other liabilities

       $ 3,461

Mortgage note payable

        10,802

Partners’ deficit

        (4,006)

    Total Liabilities and Partners’ Deficit

       $10,257

 

 

 

PRO FORMA STATEMENTS OF OPERATIONS

(in thousands, except per unit data)

 

 

 

Six Months Ended

Year Ended

 

June 30, 2010

December 31, 2009

 

 

 

Total revenues

      $1,237

       $2,854

Total expenses

       1,625

        3,552

Net loss

      $ (388)

       $ (698)

 

     

 

Net loss per limited partnership unit

      $(0.42)

       $(0.76)

 

 

SIGNATURE

 

 

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.

 

 

 

 

CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES/2, LP

 

 

 

By:   ConCap Equities, Inc.

 

      General Partner

 

 

 

By:   /s/Stephen B. Waters

 

      Stephen B. Waters

 

      Senior Director of Partnership Accounting

 

 

 

Date: September 15, 2010

 

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