-----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, ORKjWxxPVO6lOO5ZCU4JNA3LVenSJHybdtKolgSY6ckmBFJqtBHdavm6EuonZTTi IGpMGkj1ff/mBicir63LLA== /in/edgar/work/20000811/0000721465-00-500002/0000721465-00-500002.txt : 20000921 0000721465-00-500002.hdr.sgml : 20000921 ACCESSION NUMBER: 0000721465-00-500002 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000630 FILED AS OF DATE: 20000811 FILER: COMPANY DATA: COMPANY CONFORMED NAME: APT HOUSING PARTNERS LTD PARTNERSHIP CENTRAL INDEX KEY: 0000721465 STANDARD INDUSTRIAL CLASSIFICATION: [6500 ] IRS NUMBER: 042791736 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 002-84474 FILM NUMBER: 694238 BUSINESS ADDRESS: STREET 1: 500 W CUMMINGS PARK STE 6050 CITY: WOBURN STATE: MA ZIP: 01801 BUSINESS PHONE: 7819354200X233 MAIL ADDRESS: STREET 1: 500 W CUMMINGS PARK STE 6050 CITY: WOBURN STATE: MA ZIP: 01801 10-Q 1 r10q600.txt JUNE 30, 2000 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q Quarterly Report Under Section 13 or 15 (d) of the Securities Exchange Act of 1934. _______________________________________________ For the Quarterly Period Ended June 30, 2000. Commission file number 2-84474 APT Housing Partners Limited Partnership (Exact name of registrant as specified in its charter) Massachusetts 04-2791736 (State or other jurisdiction of (IRS Employer Identification No.) incorporation or organization) 500 West Cummings Park, Suite 6050, Woburn, Massachusetts 01801 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (781) 935-4200 N/A Former name, former address and former fiscal year, if change since last report Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities and Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No______________ This document contains 14 pages. PART I ITEM 1. FINANCIAL STATEMENTS APT HOUSING PARTNERS LIMITED PARTNERSHIP BALANCE SHEET ASSETS June 30, December 31, 2000 1999 (Unaudited) (audited) Investment in Local Limited Partnerships $ -0- $ -0- Cash and Cash Equivalents 268,803 203,385 Total Assets $ 268,803 $ 203,385 LIABILITIES AND PARTNERS' CAPITAL (DEFICIENCY) Liabilities: Accrued Expenses - Affiliate $ 9,350 $ 7,780 Professional Fees 9,000 8,500 Total Liabilities 18,350 16,280 Commitments and Contingencies Partners' Capital (Deficit): General Partners ( 34,316) ( 35,583) Limited Partners, 3,700 partnership units authorized, issued and outstanding 284,769 222,688 Total Partners'Capital(Deficit) 250,453 187,105 Total Liabilities and Partners' Capital (Deficiency) $ 268,803 $ 203,385 See accompanying notes to financial statements PART I ITEM 1. FINANCIAL STATEMENTS (Continued) APT HOUSING PARTNERS LIMITED PARTNERSHIP STATEMENTS OF OPERATIONS (Unaudited) Six Months Ended Three Months Ended June 30, June 30, 2000 1999 2000 1999 Interest Income $ 4,824 $ 2,932 $ 2,522 $ 1,532 Operating Expenses: Management fees - affiliate 18,700 18,700 9,350 9,350 Administrative 10,679 1,797 5,679 1,797 Total Operating Expenses 29,379 20,497 15,029 11,147 Loss Before Share of Losses of and Distributions from Local Limited Partnerships( 24,555) ( 17,565)( 12,507) ( 9,615) Distribution from Local Limited Partnerships 87,903 87,903 87,903 87,903 Share of Losses of Local Limited Partnerships - - - - Net Income (Loss) $ 63,348 $ 70,338 $ 75,396 $ 78,288 Limited Partners' Interest in Net Income (Loss) $ 62,081 $ 68,931 $ 73,888 $ 76,722 Weighted Average Number of Outstanding Limited Partnership Units 3,700 3,700 3,700 3,700 Net Income (Loss) Per Limited Partnership Unit $ 16.78 $ 18.63 $ 19.97 $ 20.74 See accompanying notes to financial statements. PART I ITEM 1. FINANCIAL STATEMENTS (Continued) APT HOUSING PARTNERS LIMITED PARTNERSHIP STATEMENTS OF CASH FLOWS (Unaudited) Six Months Ended June 30, 2000 1999 Cash Flows From Operating Activities: Net Income (Loss) $ 63,348 $ 70,338 Adjustments to reconcile net income (loss) to net cash provided by (used by) operating activities: Change in operating assets and liabilities: Increase (decrease) in accrued expenses 2,070 ( 7,751) Net Cash provided by (used by) operating activities: 65,418 62,587 Cash Flows From Financing Activities: Distributions to limited partners - - Distributions to general partner - - Net cash used in financing activities - - Net Increase (Decrease) in cash and cash equivalents 65,418 62,587 Cash and Cash Equivalents, Beginning of Period 203,385 155,218 Cash and Cash Equivalents, End of Period $ 268,803 $217,805 See accompanying notes to financial statements. APT HOUSING PARTNERS LIMITED PARTNERSHIP NOTES TO FINANCIAL STATEMENTS 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization: APT Housing Partners Limited Partnership (the Partnership), organized as a Massachusetts Limited Partnership on June 8, 1983 was formed to invest in other Local Limited Partnerships ("the Local Limited Partnerships") which own and operate existing residential rental housing developments that are financed or operated with assistance from Federal, State and/or local governmental agencies. The Partnership has limited partnership interests in two Local Limited Partnerships, with a total of 156 residential apartment units, located within the Commonwealth of Massachusetts. The general partner of the Partnership is APT Asset Management, Inc. The Partnership Agreement, as amended, authorized the issuance of 3,700 limited partnership units, all of which were issued and are outstanding. Financial Statements: The accompanying balance sheet as of June 30, 2000, the statements of operations for the six-month and three-month periods ended June 30, 2000 and June 30, 1999, and the statements of cash flows for the six-month periods then ended have been prepared by the Partnership without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows for the interim periods have been made. The accompanying balance sheet as of December 31, 1999 has been taken from the audited financial statements at that date. The results of operations for the six-month and three-month periods ended June 30, 2000 and 1999 are not necessarily indicative of operating results for a full year. Use of estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. APT HOUSING PARTNERS LIMITED PARTNERSHIP NOTES TO FINANCIAL STATEMENTS Investment in Local Limited Partnerships: The Partnership accounts for its investments in the Local Limited Partnerships by the equity method. Accordingly, the investments are carried at cost, adjusted for the Partnership's proportionate share of earnings or losses. The Partnership's share of losses on an investment is recognized only to the extent of the investment. Distributions received are reflected as reductions of the investments. Once an investment balance has been reduced to zero, subsequent distributions received by the Partnership are recognized as income. Income taxes: Federal and state income taxes are not included in the accompanying financial statements because these taxes, if any, are the responsibility of the individual Partners. Statement of cash flows: For the purposes of the statement of cash flows, the Partnership considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents consist of money market funds and a U.S. Government Agency security at June 30, 2000. Net income per limited partnership unit: Net income per limited partnership unit is computed by dividing net income available to limited partnership units by the weighted average number of outstanding limited partnership units during the period. 2. ALLOCATION OF BENEFITS In accordance with the Partnership Agreement, income, losses, credits and distributions are allocated 2% to the General Partner and 98% to the Limited Partners. 3. INVESTMENT IN LOCAL LIMITED PARTNERSHIPS The Partnership has investments in two Local Limited Partnerships, Ashland Commons Associates ("Ashland") and Rockledge Apartments Associates ("Rockledge"). The Partnership's investments consist of $1,143,695 for a 95.5% limited partnership interest in Ashland which owns an apartment complex of 96 units located in Ashland, Massachusetts and $543,900 for a 97% limited partnership interest in Rockledge which owns an apartment complex of 60 units located in Wakefield, Massachusetts. APT HOUSING PARTNERS LIMITED PARTNERSHIP NOTES TO FINANCIAL STATEMENTS The Local Limited Partnerships receive governmental assistance under programs which restrict the payment of annual cash distributions to the owners to specified maximum distributable amounts and to available surplus cash, as defined in the applicable Regulatory Agreement between the governmental agency and the Local Limited Partnership. Undistributed amounts are cumulative and may be distributed in subsequent years if there is available surplus cash. Based upon the Partnership's ownership interest in each of the Local Limited Partnerships, the maximum annual distributable amounts that can be made to the Partnership from Ashland and Rockledge are $87,903 and $9,552, respectively. For the six-month periods ended June 30, 2000 and 1999, the aggregate share of losses of the Local Limited Partnerships attributable to the Partnership amounted to $68,011 and $95,323, respectively. For the three-months ended June 30, 2000 and 1999, the aggregate share of losses of the Local Limited Partnerships attributable to the Partnership amounted to $34,527 and $45,657, respectively. The Partnership's cumulative share of losses of the Local Limited Partnerships exceeded its investments by $912,611 at June 30, 2000 and $844,600 at December 31, 1999. Accordingly, the investments have been reduced to zero and have not been reflected in the accompanying financial statements, and the Partnership has discontinued the application of the equity method. The Partnership will resume applying the equity method only after its allocable share of the net income of the Local Limited Partnerships equals the share of net losses not previously recognized during the period the equity method was suspended. Summarized balance sheet information on a combined basis for the Local Limited Partnerships as of June 30, 2000 and December 31, 1999 was as follows: June 30, 2000 December 31, 1999 (Unaudited) (audited) Rental property $ 7,597,934 $ 7,597,934 Accumulated depreciation ( 4,705,217) ( 4,572,123) Cash and cash equivalents 335,394 348,807 Restricted assets and deposits 565,716 626,810 Other assets 105,745 107,788 Total assets 3,899,572 4,109,216 Mortgage loans payable 5,799,353 5,830,851 Other liabilities 158,031 173,623 Total liabilities 5,957,384 6,004,474 Partners' capital (deficiency) ( $ 2,057,812) ($ 1,895,258) Composition of partners' capital (deficiency): General partners ($ 136,008) ($ 129,366) Limited partners ( 1,921,804) ( 1,765,892) Partners' capital (deficiency) ($ 2,057,812) ($ 1,895,258) APT HOUSING PARTNERS LIMITED PARTNERSHIP NOTES TO FINANCIAL STATEMENTS Summarized unaudited income statement information on a combined basis for the Local Limited Partnerships for the six-month and three-month periods ended June 30, 2000 and 1999 were as follows: Six Months Ended June 30, Three Months Ended June 30, 2000 1999 2000 1999 Revenues $ 871,163 $ 852,299 $ 439,734 $ 430,396 Net income (loss) ($ 70,511) ($ 99,602)($ 35,812) ($ 47,861) 4. CASH AND CASH EQUIVALENTS The Partnership maintains cash and cash equivalent balances in a financial institution located in the Commonwealth of Massachusetts. Accounts in the institution are insured by the Federal Deposit Insurance Corporation (FDIC) up to $100,000. At June 30, 2000 and December 31, 1999, the Partnership's uninsured cash and cash equivalent balances totaled $21,730 and $97,970, respectively. At June 30, 2000, cash and cash equivalents include a three month Government Agency security which is backed by the full faith and credit of the U.S. Government. 5. TRANSACTIONS WITH RELATED PARTIES American Securities Team, Inc., an affiliate of the General Partner of the Partnership, receives an annual program management fee. This fee is for managing the affairs of the Partnership and for providing investor services to the Limited Partners. The fee is equal to .5% of invested assets plus the Local Limited Partnerships' annualized outstanding nonrecourse mortgage debt. Program management fees charged to operations for each of the six-month and three-month periods ended June 30, 2000 and 1999 amounted to $18,700 and $9,350, respectively. The Partnership has liabilities to the affiliate of $9,350 and $7,780 at June 30, 2000 and December 31, 1999, respectively. 6. FAIR VALUE OF FINANCIAL INSTRUMENTS The fair values of the Partnership's financial instruments have been determined at a specific point in time, based on relevant market information and information about the financial instrument. Estimates of fair value are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could affect the estimates. The carrying amounts of cash and cash equivalents and accrued expenses at June 30, 2000 and December 31, 1999 approximate their fair values because of the short-term maturity of these instruments. PART I ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS: Liquidity and Capital Resources The Partnership's primary source of funds were the proceeds of its public offering. Other sources of liquidity include interest earned on funds and cash distributions from operations of the Local Limited Partnerships in which the Partnership has invested. These sources of liquidity are available to meet obligations of the Partnership. The Partnership received $3,700,000 in gross proceeds from the sale of partnership interests pursuant to the public offering, resulting in net proceeds available for investment, after volume discounts, establishment of working capital reserves, payment of sales commissions, acquisition fees and offering expenses, of $3,071,000. As of June 30, 2000, the Partnership has invested all of the net proceeds available for investment. The Partnership's commitment to investments requiring initial capital contributions has been paid. The Partnership has no other significant capital commitments. HUD recently released the American Community Partnerships Act (the "ACPA"). The ACPA is HUD's blueprint for providing for the nation's housing needs in an era of static or decreasing budget authority. Two key proposals in the ACPA that could affect the Local Limited Partnerships are: A discontinuation of project based Section 8 Subsidy payments and an attendant reduction in debt on properties that were supported by the Section 8 payments. The ACPA calls for a transition during which the project based Section 8 would be converted to a tenant based voucher system. Any FHA insured debt would then be "marked-to-market", that is revalued in light of the reduced income stream, if any. The impact of ACPA, if enacted in its present form, is not presently determinable. However, the legislature has issued regulations that allow for a Local Limited Partnership to elect to be marked to market with a restructuring of its existing debt. In addition, marked to market may also be accomplished without restructuring the debt. The legislature also has provided a Local Limited Partnership the option to "mark-up to market"; that is, upon expiration of its Section 8 subsidy contract, and if current market rents exceed contract rents, then the Local Limited Partnership may elect to contract with HUD at the higher rents for a period of five years as an incentive to maintain affordable housing. Several industry sources have already commented to HUD and Congress that in the event the ACPA were fully enacted in its present form, the reduction in mortgage indebtedness would be considered taxable income to limited partners in the Partnership. Legislative relief has been proposed to exempt "mark-to-market" debt from cancellation of indebtedness income treatment. PART I ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued): Cash distributions received from a Local Limited Partnership amounted to $87,903 and $87,903 during the quarters ended June 30, 2000 and 1999, respectively. These distributions are used to meet the Partnership's obligations. The Partnership has invested in Local Limited Partnerships owning housing developments which receive governmental assistance under programs which restrict the cash return available to the housing development owners. The Partnership believes that it will continue to receive cash distributions from a Local Limited Partnership in an amount sufficient to meet its operating expenses. However, there can be no assurance that cash distributions received will be adequate to allow the Partnership to make any further cash distributions to its partners. Management is not aware of any trends or events, commitments or uncertainties that will impact liquidity in a material way. Management believes the only impact would be for laws that have not yet been adopted. Results of Operations The Partnership was formed to provide various benefits to its Limited Partners. It is anticipated that the Local Limited Partnerships in which the Partnership has invested will primarily produce tax losses of approximately $17,000 per $5,000 investment in approximately 14 to 17 full years of Partnership operations, with approximately $11,000 of such tax losses occurring during the first 5 years of Partnership operations (assuming the applicability of current laws, regulations and court decisions). The benefits received in the form of tax savings may be reduced due to the enactment of the Tax Reform Act of 1986, depending on the individual circumstances of each Limited Partner. There can be no assurance that the Partnership will be able to attain its investment objectives. The Partnership will not seek to sell its interest in any housing development or Local Limited Partnership until proceeds of such sale would supply sufficient cash to enable its Limited Partners to pay applicable taxes. Proceeds of such sales will not be reinvested. It is not expected that any of the Local Limited Partnerships in which the Partnership has invested will generate cash flow sufficient to provide for distributions to Limited Partners in any material amount. Except for the operating balance of cash, the Partnership's assets consist primarily of limited partnership interests in Local Limited Partnerships owning government-assisted housing developments. The Partnership accounts for its investments in the Local Limited Partnerships using the equity method of accounting. Under the equity method of accounting, the investment cost is subsequently adjusted for the Partnership's share of each Local Limited Partnership's results of operations and cash distributions. The Partnership's share in the loss of each Local Limited Partnership is not recognized to the extent that the investment balance would become negative. For the six-month periods ended June 30, 2000 and 1999, the aggregate share of losses of the Local Limited Partnerships attributable to the Partnership amounted to $68,011 and $95,323, respectively. For the three-months ended June 30, 2000 and 1999, the aggregate share of losses of the Local Limited Partnerships attributable to the Partnership and not included in the statements of income amounted to $34,527 and $45,657, respectively. The Partnership's cumulative share of losses of the Local Limited Partnerships exceed its investments, and, accordingly, its share of losses of the Local Limited Partnerships have not been reflected in the financial statements in accordance with the equity method of accounting because the investment balances have been reduced to zero. PART I ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued): The Partnership's net income for the six-month and three-month periods ended June 30, 2000 and 1999 was due primarily to the receipt of a cash distribution from its investment in a Local Limited Partnership. The Partnership incurs an annual program management fee payable to American Securities Team, Inc. ("AST"), an affiliate of the General Partner, for managing the affairs of the Partnership and for providing investor services to the Limited Partners. The fee to AST is equal to .5% of invested assets plus the Local Limited Partnerships' annualized outstanding nonrecourse debt. The fee amounted to $9,350 per quarter for the periods ended June 30, 2000 and 1999. Administrative expenses consist of professional fees. Other The Partnership's investment as a Limited Partner in the Local Limited Partnerships is subject to the risks incident to the potential losses arising from management and ownership of improved real estate. The Partnership's investments also could be adversely affected by poor economic conditions, generally, which could increase vacancy levels, increase rental payments defaults, or increase operating expenses. Any or all of these circumstances could threaten the financial viability of one or both of the local Limited Partnerships. There are also substantial risks associated with the operations of Apartment Complexes receiving governmental assistance. These include: governmental regulations concerning tenant eligibility which may make it more difficult to rent apartments in the complexes; difficulties in obtaining government approval for rent increases; limitations on the percentage of income which low and moderate income tenants may pay as rent; the possibility that Congress may not appropriate funds to enable the U.S. Department of Housing and Urban Development to make the rental assistance payments it has contracted to make; and that when the rental assistance contracts expire, there may not be market demand for apartments at full market rents in a Local Limited Partnership's Apartment Complex. The Partnership has evaluated the potential impact of the situation commonly referred to as the "Year 2000 Problem". The Year 2000 Problem, which is common to most companies, concerns the inability of information systems, primarily computer software programs, to properly recognize and process date sensitive information related to the year 2000. Year 2000 problems may not surface until after January 1, 2000. Management does not expect the Partnership to incur any significant expenses related to this issue. PART I ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK The Partnership maintains cash and cash equivalents in a financial institution which is insured by the Federal Deposit Insurance Corporation (FDIC) up to $100,000. The Partnership also has a three month Government Agency security which is backed by the full faith and credit of the U.S. Government. The Partnership does not believe these financial instruments are subject to significant market risk. PART II OTHER INFORMATION ITEM 6. Exhibits and Reports on Form 8-K a. Articles of Incorporation and By-laws: The Registrant is not incorporated. The Partnership Agreement was filed with the Registrant's Registration Statement on Form S-11 (#2-84474) and is incorporated herein by reference. Purchase and Sale Agreement, dated as of March 30, 1984, relating to Ashland Commons Associates filed with Registrant's Form 8-K dated March 30, 1984 and is incorporated herein by reference. Purchase and Sale Agreement, dated as of April 30, 1984, relating to Historic Cohoes, II filed with Registrant's Form 8-K dated April 30, 1984 and is incorporated herein by reference. Purchase and Sale Agreement, dated as of June 22, 1984, relating to Rockledge Apartments Associates filed with Registrant's Form 8-K dated June 22, 1984 and is incorporated herein by reference. Withdrawal of APT Housing Partners Limited Partnership as a Limited Partner in a Local Limited Partnership, dated as of December 18, 1986, relating to Historic Cohoes II, filed with Registrant's Form 8-K dated March 30, 1987 and is incorporated herein by reference. Financial data schedule (included herewith on page 13). b. No reports on Form 8-K have been filed for the quarter ended June 30, 2000. APT HOUSING PARTNERS LIMITED PARTNERSHIP FINANCIAL DATA SCHEDULE This schedule contains summary financial information extracted from the balance sheet as of June 30, 2000 and statement of income for the six months ended June 30, 2000 and is qualified in its entirety by reference to such financial statements. Six-Months End Item Number Item Description June 30, 2000 5-02(1) Cash and cash items $ 268,803 5-02(2) Marketable securities -0- 5-02(3)(a)(1) Notes and accounts receivable-trade -0- 5-02(4) Allowance for doubtful accounts -0- 5-02(6) Inventory -0- 5-02(9) Total current assets 268,803 5-02(13) Property, plant and equipment -0- 5-02(14) Accumulated depreciation -0- 5-02(18) Total assets 268,803 5-02(21) Total current liabilities 18,350 5-02(22) Bonds, mortgages and similar debt -0- 5-02(28) Preferred stock-mandatory redemption -0- 5-02(29) Preferred stock-no mandatory redemption -0- 5-02(30) Common stock -0- 5-02(31) Other stockholders' equity 250,453 5-02(32) Total liabilities and stockholders' equity 268,803 Six-Months End Item Number Item Description June 30, 2000 5-03(b)1(a) Net sales of tangible products $ -0- 5-03(b)1 Total revenues 92,727 5-03(b)2(a) Cost tangible goods sold -0- 5-03(b)2 Total costs and expenses applicable to sales and revenues -0- 5-03(b)3 Other costs and expenses 29,379 5-03(b)5 Provision for doubtful accounts and notes -0- 5-03(b)(8) Interest and amortization of debt discount -0- 5-03(b)(10) Income/(loss) before taxes and other items 63,348 5-03(b)(11) Income tax expense -0- 5-03(b)(14) Income/(loss) continuing operations 63,348 5-03(b)(15) Discontinued operations -0- 5-03(b)(17) Extraordinary items -0- 5-03(b)(18) Cumulative effect-changes in accounting principles -0- 5-03(b)(19) Net income or (loss) 63,348 5-03(b)(20) Earnings (loss) per share-primary 16.78 5-03(b)(20) Earnings (loss) per share-fully diluted 16.78 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. APT HOUSING PARTNERS LIMITED PARTNERSHIP By: APT Asset Management, Inc. General Partner Date:_________________ ____________________________________ Jeff Ewing, President EX-27 2 r10q600fds.xfd JUNE 30, 2000 FINANCIAL DATA SCHEDULE
5 6-MOS Apr-01-2000 Dec-31-2000 Jun-30-2000 268,803 0 0 0 0 268,803 0 0 268,803 18,350 0 0 0 0 250,453 268,803 0 92,727 0 0 29,379 0 0 63,348 0 63,348 0 0 0 63,348 16.78 16.78
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