8-K 1 hcw.txt HCW Form 8-K - CURRENT REPORT 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: June 27, 2002 HCW PENSION REAL ESTATE FUND LIMITED PARTNERSHIP (Exact name of registrant as specified in its charter) Massachusetts 0-14578 04-2825863 (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) Registrant's telephone number, including area code (864) 239-1000 N/A (Former address, if changed since last report) Item 4. Changes in Registrant's Certifying Accountant As of June 27, 2002, KPMG LLP the independent accountant previously engaged as the principal accountant to audit the financial statements of HCW Pension Real Estate Fund Limited Partnership (the "Registrant" or the "Partnership"), was terminated. As of the same date, the firm of Ernst & Young LLP was engaged to provide the service for the Registrant. The audit reports of KPMG LLP on the financial statements of the Partnership as of and for the years ended December 31, 2001 and 2000 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. The decision to change accountants was approved by the board of directors of the managing general partner of the Partnership on June 27, 2002. During the Partnership's two most recent fiscal years and any subsequent interim period preceding the change, there were no disagreements with the former accountants on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of the former accountants, would have caused it to make reference to the subject matter of the disagreements in connection with its report. The Registrant has provided a copy of this disclosure to the former accountant, and the Registrant requested that the former accountant furnish the Registrant with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made by the Registrant, and, if not, stating the respects in which it does not agree. A copy of the former accountant's response indicating agreement is included as an exhibit to this report. Item 7. Financial Statements and Exhibits (c) Exhibits 16.1 Letter dated June 27, 2002 from the former accountant regarding its concurrence with the statements made by the Registrant in this Current Report. 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. HCW PENSION REAL ESTATE FUND LIMITED PARTNERSHIP By: HCW General Partner, Ltd., General Partner By:IH, Inc., the Managing General Partner By:/s/Patrick J. Foye Patrick J. Foye Executive Vice President Date: July 3, 2002 Exhibit 16.1 June 27, 2002 Office of the Chief Accountant Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549 Dear Ladies and Gentlemen: We were previously principal accountants for HCW Pension Real Estate Fund Limited Partnership and, under the date of February 28, 2002, we reported on the financial statements of HCW Pension Real Estate Fund Limited Partnership as of December 31, 2001 and for the years ended December 31, 2001 and 2000. On June 27, 2002, our appointment as principal accountants was terminated. We have read HCW Pension Real Estate Fund Limited Partnership's statements included under Item 4 of its Form 8-K dated June 27, 2002, and we agree with such statements, except that we are not in a position to agree or disagree with HCW Pension Real Estate Fund Limited Partnership's statement that the change was approved by the board of directors of the managing general partner of the Partnership. Very truly yours, KPMG LLP Greenville, South Carolina