-----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, KU4OUVvkJQmkbTUivshuiZb9IWXHcmtvd7JvqIFkcqc5z3NX/4L/JG1XsoqLD7hR vtnW/QKsg0k9OLDecW6J1A== 0000730013-95-000002.txt : 19951013 0000730013-95-000002.hdr.sgml : 19951013 ACCESSION NUMBER: 0000730013-95-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950929 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19951012 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SHELTER PROPERTIES VI LIMITED PARTNERSHIP CENTRAL INDEX KEY: 0000730013 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 570755618 STATE OF INCORPORATION: SC FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13261 FILM NUMBER: 95580052 BUSINESS ADDRESS: STREET 1: ONE SINSIGNIA FINANCIAL PLAZA STREET 2: P O BOX 1089 CITY: GREENVILLE STATE: SC ZIP: 29602 BUSINESS PHONE: 8032391000 MAIL ADDRESS: STREET 1: ONE INSIGNIA FINANCIAL PLZ STREET 2: P O BOX 1089 CITY: GREENVILLE STATE: SC ZIP: 29602 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: September 29, 1995 SHELTER PROPERTIES VI LIMITED PARTNERSHIP (Exact name of registrant as specified in its charter) SOUTH CAROLINA 0-13261 57-0755618 (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification Number) One Insignia Financial Plaza Post Office Box 1089 Greenville, South Carolina 29602 (Address of Principal Executive Office) Registrant's telephone number, including area code (803) 239-1000 Item 2. Acquisition or Disposition of Assets On September 29, 1995, Shelter Properties VI Limited Partnership sold Marble Hill Apartments located in Richmond, Virginia to United Dominion Realty at Marble Hill, LLC, a Virginia limited liability company, an unaffiliated party. Total consideration was $5,910,000. Item 7. Financial Statements and Exhibits (b). Pro forma financial information Marble Hill Apartments was sold on September 29, 1995 to an unaffiliated party. The following unaudited condensed balance sheet of the Partnership assumes the property had been disposed of at July 31, 1995.
Pro Forma Consolidated Balance Sheet (Unaudited) July 31, 1995 Pro Forma July 31, 1995 As Reported Adjustments Pro Forma Cash $ 893,793 $ 2,567,189 (1) $ 3,460,982 Other assets 3,695,594 (323,166) (1) 3,372,428 Land 5,635,471 (685,968) (1) 4,949,503 Buildings & related personal property 52,279,994 (7,148,694) (1) 45,131,300 Accumulated depreciation (24,222,755) 3,612,357 (1) (20,610,398) Total assets $ 38,282,097 $(1,978,282) $ 36,303,815 Accounts payable and accrued liabilities $ 1,541,103 $ (107,171) (1) $ 1,433,932 Mortgage notes payable 31,197,562 (3,165,810) (1) 28,031,752 Total liabilities 32,738,665 (3,272,981) 29,465,684 Partner's Capital $ 5,543,432 1,294,699 6,838,131 Total liabilities and partners capital $ 38,282,097 $(1,978,282) $ 36,303,815
[FN] (1) Represents pro forma adjustments to reflect the removal of assets and liabilities related to the sale of Marble Hill Apartments. The following pro forma statements of loss assume Marble Hill Apartments had been sold as of July 31, 1995 and October 31, 1994, respectively. The following pro forma statements of loss do not reflect the gain realized from the sale.
Pro Forma Consolidated Statements of Loss (Unaudited) For the nine months ended For the year ended July 31, 1995 October 31, 1994 Adjustments Adjustments As Reported (2) Pro Forma As Reported (2) Pro Forma Total revenue $8,171,340 $(1,018,467) $7,152,873 $10,439,524 $(1,242,171) $ 9,197,353 Operating expenses 2,059,544 (267,552) 1,791,992 2,857,528 (354,380) 2,503,148 General and administrative 320,124 -- 320,124 254,042 -- 254,042 Property management fees 405,758 (50,512) 355,246 517,482 (61,589) 455,893 Repairs and maintenance 1,062,734 (197,983) 864,751 1,760,186 (326,247) 1,433,939 Depreciation 1,633,249 (212,464) 1,420,785 2,106,247 (273,992) 1,832,255 Interest 2,142,533 (217,672) 1,924,861 2,897,571 (294,236) 2,603,335 Property taxes 705,812 (44,335) 661,477 966,589 (54,887) 911,702 Total cost and expenses 8,329,754 (990,518) 7,339,236 11,359,645 (1,365,331) 9,994,314 Loss on disposal of property $ (13,457) $ -- $ (13,457) $ (52,683) $ 23,601 $ (29,082) Net loss $ (171,871) $ (27,949) $ (199,820) $ (972,804) $ 146,761 $ (826,043) Net loss per limited partnership unit $ (4.02) $ (.65) $ (4.67) $ (22.75) $ 3.43 $ (19.32) Weighted average number of units 42,324 42,324 42,324 42,324
[FN] (2) Represents pro forma adjustments to remove revenues and expenses related to Marble Hill Apartments as a result of the sale. Certain reclassifications have been made to the 1994 balances to conform to the 1995 presentation. SIGNATURES 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 authorized. SHELTER PROPERTIES VI LIMITED PARTNERSHIP By: Shelter Realty VI Corporation Corporate General Partner Date: October 12, 1995 By: /s/William H. Jarrard, Jr. William H. Jarrard, Jr. President and Director -----END PRIVACY-ENHANCED MESSAGE-----