0000711642-13-000200.txt : 20130919 0000711642-13-000200.hdr.sgml : 20130919 20130919162729 ACCESSION NUMBER: 0000711642-13-000200 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130916 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130919 DATE AS OF CHANGE: 20130919 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: 131105864 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 ccip2_9162013.htm FORM 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 16, 2013

 

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)

 

 

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 1.01   Entry into a Material Definitive Agreement.

 

Consolidated Capital Institutional Properties/2, LP, a Delaware limited partnership (the “Registrant”), owns a 100% interest in CCIP/2 Highcrest, L.L.C., a Delaware limited liability company (the “Company”). The Company owns Highcrest Townhomes (“Highcrest”), a 176-unit apartment complex located in Woodridge, Illinois. As previously reported, on August 15, 2013 (the “Effective Date”), the Company entered into a Purchase and Sale Contract (the “Purchase Agreement”) with a third party, Laramar Kona Real Estate Associates, LLC, a Delaware limited liability company, to sell Highcrest for a total sales price of $20,175,000.

 

On September 16, 2013, the Company and Purchaser entered into a First Amendment to Purchase and Sale Contract (the “First Amendment”), pursuant to which (i) the Purchaser shall have the option to extend the closing date from October 14, 2013 to November 14, 2013, by providing written notice to the Company by October 7, 2013 and (ii) deliver an additional deposit of $250,000 to the escrow agent, which shall be treated as a part of the deposit under the Purchase Agreement.

 

This summary of the terms and conditions of the First Amendment is qualified in its entirety by reference to the First Amendment, a copy of which is attached hereto as an exhibit.

 

Item 9.01 Financial Statements and Exhibits

 

(d)   Exhibit

 

10.48       First Amendment to Purchase and Sale Contract between CCIP/2 Highcrest, L.L.C., a Delaware limited liability company, and Laramar Kona Real Estate Associates LLC, a Delaware limited liability company, dated September 16, 2013.*

 

*Schedules and supplemental materials to the exhibit have been omitted but will be provided to the Securities and Exchange Commission upon request.

 

 

 

 

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 19, 2013

 EX-10.48 2 ccip2_1048.htm EXHBIT 10.48

Exhibit 10.48

FIRST AMENDMENT TO PURCHASE AND SALE CONTRACT

THIS FIRST AMENDMENT TO PURCHASE AND SALE CONTRACT (this “Amendment”) is entered into this 16th day of September, 2013, by and between CCIP/2 HIGHCREST, L.L.C., a Delaware limited liability company (“Seller”), and LARAMAR KONA REAL ESTATE ASSOCIATES LLC, a Delaware limited liability company (“Buyer”).

R E C I T A L S

A.              Buyer and Seller previously entered into that certain Purchase and Sale Contract dated August 15, 2013 (the “Purchase Agreement”) pursuant to which Seller agreed to sell and Buyer agreed to purchase certain real property located at 3514 83rd Street, Woodridge, Illinois 60517. as more particularly described therein (the “Property”).

B.              All capitalized terms contained herein which are not defined shall have the meaning ascribed to them in the Purchase Agreement.

C.              The parties desire to amend the Purchase Agreement by the terms and provisions contained herein.

AGREEMENT

NOW, THEREFORE, in consideration of the mutual covenants set forth herein, and for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Seller and Buyer agree as follows:

1.               Closing Date Extension Right.  Buyer shall have the option to extend the Closing Date by an additional thirty (30) day period, to November 14, 2013, by providing written notice to Seller no later than 5:00 pm (CST) on October 7, 2013.  Simultaneously with the notice described herein, Purchaser shall deliver to Escrow Agent an additional deposit of Two Hundred Fifty Thousand and 00/100 Dollars ($250,000.00) (the “Closing Date Extension Deposit”) by wire transfer of Good Funds.  The Closing Date Extension Deposit shall be deemed and treated as part of the Deposit under the Purchase Agreement.

2.               Full Force and Effect.  As amended hereby, the Purchase Agreement shall remain unmodified and shall continue in full force and effect.  In the event of any conflict between the Purchase Agreement and this Amendment, the terms and provisions of this Amendment shall control.

3.               Counterparts; Execution by E-mail or Facsimile.  This Amendment may be signed by the parties in two or more counterparts which, when taken together, shall constitute one and the same instrument.  This Amendment may also be delivered by e-mail or facsimile transmission with the same force and effect as if the originally executed copies of this Amendment were delivered to all parties.

 

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