-----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, QXs2TBDwog9LwvrPBWpTA8t/SuIC1WwaQ8m+kfTpP9wz4SWfKGYGBuLFRvymYVx5 Js5gmXub5O06Shzd/V7BMw== 0000743366-96-000003.txt : 19960105 0000743366-96-000003.hdr.sgml : 19960105 ACCESSION NUMBER: 0000743366-96-000003 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19950930 FILED AS OF DATE: 19960104 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: DSI REALTY INCOME FUND VIII CENTRAL INDEX KEY: 0000743366 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING & COURIER SERVICES (NO AIR) [4210] IRS NUMBER: 950050204 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 002-90168 FILM NUMBER: 96500729 BUSINESS ADDRESS: STREET 1: 3701 LONG BEACH BLVD STREET 2: C/O DSI PROPERTIES INC CITY: LONG BEACH STATE: CA ZIP: 90807 BUSINESS PHONE: 3105957711 MAIL ADDRESS: STREET 1: 3701 LONG BEACH BLVD CITY: LONG BEACH STATE: CA ZIP: 90807 10-Q 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q /_x_/ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. For the quarterly period ended September 30, 1995 /___/ Transition report pursuant to Section 13 or 15(d) of the Securities Act of 1934 for the transition period from ______________ to ________________. Commission File Number 2-90168 DSI REALTY INCOME FUND VIII, A California Limited Partnership (Exact name of registrant as specified in its charter) California_______________________________________95-0050204 (State or other jurisdiction of (I.R.S. Employer incorporation) Identification No.) 3701 Long Beach Boulevard, Long Beach, California 90807 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code-(310)595-7711 _________________________________________________________________ Former name, former address and former fiscal year, if changed 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 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__. PART I - FINANCIAL INFORMATION Item 1. Financial Statements. The information required by Rule 10-01 of Regulation S-X is included in the Quarterly Report to the Limited Partners of Registrant for the period ended September 30, 1995 which is attached hereto as Exhibit "20" and incorporated herein by this reference. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Registrant incorporates by this reference its Quarterly Report to Limited Partners for the period ended September 30, 1995. PART II - OTHER INFORMATION Item 6. Exhibits and Reports on Form 8K. (a) Attached hereto as Exhibit "20" is Registrant's Quarterly Report to Limited Partners for the period ended September 30, 1995. (B) Registrant did not file any reports on Form 8-K for the period reported upon. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: October 31, 1995 DSI REALTY INCOME FUND VIII A California Limited Partnership (Registrant) By____\s\ Robert J. Conway_____ DSI Properties, Inc., as General Partner by ROBERT J. CONWAY, President and Chief Financial Officer SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: October 31, 1995 DSI REALTY INCOME FUND VIII A California Limited Partnership (Registrant) By__\s\ Robert J. Conway________ DSI Properties, Inc., as General Partner by ROBERT J. CONWAY, President and Chief Financial Officer EX-20 2 DSI REALTY INCOME FUND VIII (A California Real Estate Limited Partnership) BALANCE SHEETS(UNAUDITED) SEPTEMBER 30, 1995 AND DECEMBER 31, 1994
September 30, December 31, 1995 1994 ASSETS CASH AND CASH EQUIVALENTS $ 553,661 $ 424,960 PROPERTY 4,436,188 4,772,863 OTHER ASSETS 424,708 466,245 TOTAL $5,436,239 $5,785,750 LIABILITIES AND PARTNERS' EQUITY LIABILITIES $ 659,144 $ 615,700 PARTNERS' EQUITY: General Partners (60,009) (56,080) Limited Partners 4,837,104 5,226,130 Total partners' equity 4,777,095 5,170,050 TOTAL $5,436,239 $5,785,750 See accompanying notes to financial statements(unaudited). STATEMENTS OF INCOME (UNAUDITED) FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994 September 30, September 30, 1995 1994 REVENUES: Rental Income $ 410,758 $ 423,544 Interest 3,917 3,320 Total revenues 414,675 426,864 EXPENSES: Operating Expenses 268,245 246,919 General and administrative 33,419 37,154 Total expenses 301,664 284,073 INCOME BEFORE EQUITY IN INCOME OF REAL ESTATE JOINT VENTURE 113,011 142,791 EQUITY IN INCOME OF REAL ESTATE 30,888 25,074 NET INCOME $ 143,899 $ 167,865 AGGREGATE NET INCOME ALLOCATED TO: Limited partners $ 142,460 $ 166,186 General partners 1,439 1,679 TOTAL $ 143,899 $ 167,865 NET INCOME PER LIMITED PARTNERSHIP UNIT $ 5.94 $ 6.92 LIMITED PARTNERSHIP UNITS USED IN PER UNIT CALCULATION 24,000 24,000 See accompanying notes to financial statements(unaudited). STATEMENTS OF INCOME (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30,1995 AND 1994 September 30, September 30, 1995 1994 REVENUES: Rental Income $1,224,172 $1,231,980 Interest 11,657 6,761 Total Revenues 1,235,829 1,238,741 EXPENSES: Operating Expenses 760,672 740,645 General and Administrative 135,294 136,673 Total expenses 895,966 877,318 INCOME BEFORE EQUITY IN INCOME OF REAL ESTATE JOINT VENTURE 339,863 361,423 EQUITY IN INCOME OF REAL ESTATE JOINT VENTURE 85,363 67,794 Net Income 425,226 429,217 AGGREGATE NET INCOME ALLOCATED TO: Limited partners $420,974 $424,925 General partners 4,252 4,292 TOTAL $425,226 $429,217 NET INCOME PER LIMITED PARTNERSHIP $ 17.54 $ 17.71 LIMITED PARTNERSHIP UNITS USED IN PER UNIT CALCULATION 24,000 24,000 See accompanying notes to consolidated financial statements(unaudited)
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
GENERAL LIMITED PARTNERS PARTNERS TOTAL EQUITY AT DECEMBER 31, 1993 ($ 51,062) $5,722,901 $5,671,839 NET INCOME 4,292 424,925 429,217 DISTRIBUTIONS (7,576) (750,000) (757,576) EQUITY AT SEPTEMBER 30,1994 ($54,346) $5,397,826 $5,343,480 EQUITY AT DECEMBER 31, 1994 ($56,080) $5,226,130 $5,170,050 NET INCOME 4,252 420,974 425,226 DISTRIBUTIONS (8,181) (810,000) (818,181) EQUITY AT SEPTEMBER 30,1995 ($60,009) $4,837,104 $4,777,095 See accompanying notes to consolidated financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
September 30, September 30, 1995 1994 1995 1994 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 425,226 $429,217 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 351,850 351,850 Distributions in excess of earnings in real estate joint venture 41,537 33,076 Changes in assets and liabilities: Decrease in other assets 100,000 0 Increase in liabilities 43,444 76,892 Net cash provided by operating activities 962,057 891,035 CASH FLOWS FROM INVESTING ACTIVITIES - Purchase of property and equipment (15,175) (500) CASH FLOWS FROM FINANCING ACTIVITIES - Distributions to partners (818,181) (757,576) NET INCREASE IN CASH AND CASH EQUIVALENTS 128,701 132,959 CASH AND CASH EQUIVALENTS: At beginning of period 424,960 492,869 At end of period $ 553,661 $625,828 See accompanying notes to financial statements(unaudited).
DSI REALTY INCOME FUND VIII (A California Real Estate Limited Partnership) NOTES TO FINANCIAL STATEMENTS (UNAUDITED) 1. GENERAL DSI Realty Income Fund VIII (the "Partnership"), a limited partnership, has two general partners (DSI Properties, Inc., and Diversified Investors Agency) and limited partners owning 24,000 limited partnership units. The Partnership was formed under the California Uniform Limited Partnership Act for the primary purpose of acquiring and operating real estate. The accompanying financial information as of September 30, 1995, and for the periods ended September 30, 1995, and 1994 is unaudited. Such financial information includes all adjustments considered necessary by the Partnership's management for a fair presentation of the results for the periods indicated. 2. PROPERTY The Partnership owns five mini-storage facilities located in Stockton, Pittsburg, El Centro, Lompoc and HuntingBeach, California. The total cost of property and accumulated depreciation at September 30, 1995, is as follows: Land $ 2,305,310 Buildings and improvements 7,050,725 Equipment 14,067 Total 9,370,102 Less: Accumulated Depreciation ( 4,933,914) Property - Net $ 4,436,188
3. INVESTMENT IN REAL ESTATE JOINT VENTURE The Partnership is involved in a joint venture with DSI Realty Income Fund IX through which the Partnership has a 30% interest in a mini-storage facility in Aurora, Colorado. Under the terms of the joint venture agreement, the Partnership is entitled to 30% of the profits and losses of venture and owns 30% of the mini-storage facility as a tenant in common with DSI Realty Income Fund IX, which has the remaining 70% interest in the venture. Summarized income statement information for the nine months ended September 30, 1995, and 1994 is as follows: 1995 1994 Revenue $530,834 $471,841 Operating Expenses 246,291 245,860 Net Income $284,543 $225,981 The Partnership accounts for its investment in the real estate joint venture under the equity method of accounting. 4. NET INCOME PER LIMITED PARTNERSHIP UNIT Net income per limited partnership unit is calculated by dividing the net income allocated to the limited partners by the number of limited partnership units outstanding during the period. EX-27 3
5 9-MOS YEAR SEP-30-1995 DEC-31-1994 SEP-30-1995 DEC-31-1994 553661 0 0 0 0 0 0 0 0 0 0 0 9370102 0 4933914 0 5436239 0 0 0 0 0 0 0 0 0 0 0 0 0 5436239 0 1224172 0 1882111 0 0 0 0 0 0 0 0 0 0 0 425226 0 0 0 425226 0 0 0 0 0 0 0 425226 0 0 0 0 0
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