-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, BbSbSLQJnErlsBEAaU5GJ7bl/vI+h30KUHnJBhvak/3ifpH0PWTZ5ttQ1vC1DD44 CYf2wcRn3fUIalsyQBsWDg== 0000889812-95-000424.txt : 19950814 0000889812-95-000424.hdr.sgml : 19950814 ACCESSION NUMBER: 0000889812-95-000424 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950630 FILED AS OF DATE: 19950811 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTURY PENSION INCOME FUND XXIV CENTRAL INDEX KEY: 0000780590 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 942984976 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-15710 FILM NUMBER: 95562058 BUSINESS ADDRESS: STREET 1: 5665 NORTHSIDE DR CITY: ATLANTA STATE: GA ZIP: 30328 BUSINESS PHONE: 4049169090 MAIL ADDRESS: STREET 1: POST & HEYMANN STREET 2: 5665 NORTHSIDE DR NW CITY: ATLANTA STATE: GA ZIP: 30328 10-Q 1 QUARTERLY REPORT SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 1995 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission file number 0-15710 Century Pension Income Fund XXIV, A California Limited Partnership (Exact name of Registrant as specified in its charter) California 94-2984976 (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) 5665 Northside Drive N.W., Ste. 370, Atlanta, Georgia 30328 (Address of principal executive office) (Zip Code) Registrant's telephone number, including area code (404) 916-9090 N/A Former name, former address and fiscal year, if changed since last report. Indicate by check mark whether 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_____ APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS: Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 12, 13, or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes _____ No _____ APPLICABLE ONLY TO CORPORATE ISSUERS: Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date __________________. 1 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership PART I - FINANCIAL INFORMATION Item 1. Financial Statements. Balance Sheets June 30, December 31, 1995 1994 (Unaudited) (Audited) Assets Cash and cash equivalents $ 2,098,000 $ 2,038,000 Receivables and other assets 210,000 185,000 Investments in unconsolidated joint ventures 7,440,000 7,681,000 Real Estate: Real estate 17,709,000 17,324,000 Accumulated depreciation (2,983,000) (2,764,000) ----------- ----------- Real estate, net 14,726,000 14,560,000 Deferred leasing commissions, net 150,000 102,000 ----------- ----------- Total assets $24,624,000 $24,566,000 =========== =========== Liabilities and Partners' Equity Accrued expenses and other liabilities $ 133,000 $ 154,000 ----------- ----------- Total liabilities 133,000 154,000 ----------- ----------- Commitments and Contingencies Partners' equity: General partner -- (20,000) Limited partners (73,341 units outstanding at June 30, 1995 and December 31, 1994) 24,491,000 24,432,000 ----------- ----------- Total partners' equity 24,491,000 24,412,000 ----------- ----------- Total liabilities and partners' equity $24,624,000 $24,566,000 =========== =========== See notes to financial statements. 2 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership Statements of Operations (Unaudited) For the Six Months Ended June 30, 1995 June 30, 1994 Revenues: Rental $ 969,000 $ 842,000 Interest income 49,000 49,000 Equity in unconsolidated joint ventures' operations 333,000 98,000 ---------- ---------- Total revenues 1,351,000 989,000 ---------- ---------- Expenses: General and administrative 256,000 254,000 Depreciation 219,000 219,000 Operating 241,000 207,000 ---------- ---------- Total expenses 716,000 680,000 ---------- ---------- Net income $ 635,000 $ 309,000 ========== ========== Net income per limited partnership assignee unit $ 8 $ 4 ========== ========== Cash distributions per limited partnership assignee unit $ 8 $ 8 ========== ========== See notes to financial statements. 3 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership Statements of Operations (Unaudited) For the Three Months Ended June 30, 1995 June 30, 1994 Revenues: Rental $479,000 $438,000 Interest income 31,000 16,000 Equity in unconsolidated joint ventures' operations 237,000 28,000 -------- -------- Total revenues 747,000 482,000 -------- -------- Expenses: General and administrative 133,000 139,000 Depreciation 109,000 109,000 Operating 132,000 113,000 -------- -------- Total expenses 374,000 361,000 -------- -------- Net income $373,000 $121,000 ======== ======== Net income per limited partnership assignee unit $ 5 $ 2 ======== ======== Cash distributions per limited partnership assignee unit $ 4 $ 4 ======== ======== See notes to financial statements. 4 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership Statements of Cash Flows (Unaudited) For the Six Months Ended June 30, 1995 June 30, 1994 Operating Activities: Net income $ 635,000 $ 309,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 237,000 226,000 Equity in unconsolidated joint ventures' operations (333,000) (98,000) Leasing commissions paid (66,000) (25,000) Changes in operating assets and liabilities: Receivables and other assets (25,000) 45,000 Accrued expenses and other liabilities (21,000) (24,000) ---------- ---------- Net cash provided by operating activities 427,000 433,000 ---------- ---------- Investing Activities: Additions to real estate (385,000) (41,000) Unconsolidated joint venture distributions received 574,000 -- Proceeds from cash investments -- 1,283,000 ---------- ---------- Net cash provided by investing activities 189,000 1,242,000 ---------- ---------- Financing Activities: Cash distribution to partners (556,000) (556,000) ---------- ---------- Cash (used in) financing activities (556,000) (556,000) ---------- ---------- Increase in Cash and Cash Equivalents 60,000 1,119,000 Cash and Cash Equivalents at Beginning of Period 2,038,000 1,036,000 ---------- ---------- Cash and Cash Equivalents at End of Period $2,098,000 $2,155,000 ========== ========== See notes to financial statements. 5 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership NOTES TO FINANCIAL STATEMENTS 1. General The accompanying financial statements, footnotes and discussions should be read in conjunction with the financial statements, related footnotes and discussions contained in the Partnership's Annual Report for the year ended December 31, 1994. The financial information contained herein is unaudited. In the opinion of management, however, all adjustments necessary for a fair presentation of such financial information have been included. All adjustments are of a normal recurring nature. The results of operations for the six and three months ended June 30, 1995 and 1994 are not necessarily indicative of the results to be expected for the full year. 2. Transactions with Related Parties (a) An affiliate of NPI, Inc. received reimbursements of administrative expenses amounting to $48,000 and $51,000 during the six months ended June 30, 1995 and 1994, respectively. These reimbursements are included in general and administrative expenses. (b) During the six months ended June 30, 1995 and 1994, an affiliate of NPI, Inc. was paid a $16,000 and a $10,000 fee ($5,000 and $3,000 allocated to the Partnership, respectively) relating to a successful real estate tax appeal on the Partnership's Coral Palm Plaza and Minneapolis Business Park joint venture properties. These fees are included in operating expenses. (c) The general partner is entitled to receive a partnership management fee in the amount equal to 10 percent of cash available for distribution. For each of the six months periods ended June 30, 1995 and 1994, the general partner received $62,000. These fees are included in general and administrative expenses. (d) In accordance with the partnership agreement, the general partner was allocated its one percent continuing interest in the Partnership's cash distributions (see Note 3). Net income has been allocated to the general partner in an amount equal to the amount of cash distributions received by the general partner which had not been previously allocated. 3. Distributions to Partners The Partnership distributed $556,000 in cash during the six months ended June 30, 1995 ($550,000 to limited partners and $6,000 to the general partner). 4. Equity in Unconsolidated Joint Ventures' Operations At the Partnership's unconsolidated joint venture property, Coral Palm Plaza, management accepted a lease buy-out of $800,000 in December 1994 from a significant tenant which occupied 27,000 square feet (and was received in 1995). During June 1995, management re-leased 20,000 square feet of the unoccupied space, on similar terms, and recognized a portion of the lease buy-out in the amount of $517,000 ($172,000 allocated to the Partnership). The remaining portion has been deferred and is currently being amortized as rental income over the remaining eight years of the former tenant's lease. Management is negotiating to re-lease the remaining 7,000 square feet. 6 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership NOTES TO FINANCIAL STATEMENTS 5. Investment in Unconsolidated Joint Ventures The Partnership has investments in two unconsolidated joint ventures, Coral Palm Plaza Joint Venture and Minneapolis Business Parks Joint Venture. The following are the condensed balance sheets as of June 30, 1995 and December 31, 1994 and condensed statements of operations for the six and three months ended June 30, 1995 and 1994 of Coral Palm Plaza Joint Venture. CORAL PALM JOINT VENTURE CONDENSED BALANCE SHEETS June 30, December 31, 1995 1994 (Unaudited) (Audited) Assets Cash and cash equivalents $ 164,000 $ 239,000 Receivables and other assets 106,000 881,000 Real Estate: Real estate 16,085,000 16,065,000 Accumulated depreciation (2,931,000) (2,829,000) Allowance for impairment of value (7,091,000) (7,091,000) ------------ ------------ Real estate, net 6,063,000 6,145,000 Deferred leasing commissions, net 116,000 87,000 ------------ ------------ Total assets $ 6,449,000 $ 7,352,000 ============ ============ Liabilities and Partners' Equity Deferred income and other liabilities $ 381,000 $ 844,000 ------------ ------------ Total liabilities 381,000 844,000 ------------ ------------ Commitments and Contingencies Partners' equity: Century Pension Income Fund XXIII 4,046,000 4,339,000 Century Pension Income Fund XXIV 2,022,000 2,169,000 ------------ ------------ Total partners' equity 6,068,000 6,508,000 ------------ ------------ Total liabilities and partners' equity $ 6,449,000 $ 7,352,000 ============ ============ 7 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership NOTES TO FINANCIAL STATEMENTS 5. Investment in Unconsolidated Joint Ventures (Continued) CORAL PALM JOINT VENTURE CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the Six Months Ended June 30, 1995 June 30, 1994 Revenues Rental $429,000 $491,000 Other income 517,000 -- -------- -------- 946,000 491,000 Expenses 358,000 451,000 -------- -------- Net income $588,000 $ 40,000 ======== ======== Allocation of net income: CPIF XXIII $392,000 $ 27,000 CPIF XXIV 196,000 13,000 -------- -------- Net income $588,000 $ 40,000 ======== ======== For the Three Months Ended June 30, 1995 June 30, 1994 Revenues Rental $156,000 $ 157,000 Other income 517,000 -- -------- --------- 673,000 157,000 Expenses 176,000 223,000 -------- --------- Net income (loss) $497,000 $(66,000) ======== ======== Allocation of net income (loss): CPIF XXIII $331,000 $(44,000) CPIF XXIV 166,000 (22,000) -------- --------- Net income (loss) $497,000 $(66,000) ======== ======== 8 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership NOTES TO FINANCIAL STATEMENTS 5. Investment in Unconsolidated Joint Ventures (Continued) The following are the condensed balance sheets as of June 30, 1995 and December 31, 1994 and condensed statements of operations for the six and three months ended June 30, 1995 and 1994 of Minneapolis Business Parks Joint Venture. MINNEAPOLIS BUSINESS PARKS JOINT VENTURE CONDENSED BALANCE SHEETS June 30, December 31, 1995 1994 (Unaudited) (Audited) Assets Cash and cash equivalents $ 627,000 $ 648,000 Other assets 478,000 134,000 Real Estate: Real estate 20,252,000 20,214,000 Accumulated depreciation (4,301,000) (3,999,000) ----------- ----------- Real estate, net 15,951,000 16,215,000 Deferred leasing commissions, net 246,000 214,000 ----------- ----------- Total assets $17,302,000 $17,211,000 =========== =========== Liabilities and Partners' Equity Accrued expenses and other liabilities $ 535,000 $ 151,000 ----------- ----------- Total liabilities 535,000 151,000 ----------- ----------- Commitments and Contingencies Partners' equity: Century Pension Income Fund XXIII 11,349,000 11,548,000 Century Pension Income Fund XXIV 5,418,000 5,512,000 ----------- ----------- Total partners' equity 16,767,000 17,060,000 ----------- ----------- Total liabilities and partners' equity $17,302,000 $17,211,000 =========== =========== 9 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership NOTES TO FINANCIAL STATEMENTS 5. Investment in Unconsolidated Joint Ventures (Continued) MINNEAPOLIS BUSINESS PARKS JOINT VENTURE CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the Six Months Ended June 30, 1995 June 30, 1994 Rental and other revenues $1,435,000 $1,262,000 Expenses 1,007,000 997,000 ---------- ---------- Net income $ 428,000 $ 265,000 ========== ========== Allocation of net income: CPIF XXIII $ 291,000 $ 180,000 CPIF XXIV 137,000 85,000 ---------- ---------- Net income $ 428,000 $ 265,000 ========== ========== For the Three Months Ended June 30, 1995 June 30, 1994 Rental and other revenues $ 720,000 $ 642,000 Expenses 497,000 487,000 ---------- ---------- Net income $ 223,000 $ 155,000 ========== ========== Allocation of net income: CPIF XXIII $ 152,000 $ 105,000 CPIF XXIV 71,000 50,000 ---------- ---------- Net income $ 223,000 $ 155,000 ========== ========== 10 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. This item should be read in conjunction with the Financial Statements and other Items contained elsewhere in this Report. Liquidity and Capital Resources Registrant's real estate properties consist of three shopping center properties and investments in two unconsolidated joint ventures. The three shopping centers are located in South Carolina, North Carolina and Georgia. The unconsolidated joint venture properties include one shopping center in Florida and three business parks in Minnesota. The properties are leased to tenants subject to leases with remaining lease terms of up to twenty years. Registrant receives rental income from its properties and is responsible for operating expenses, administrative expenses and capital improvements. All of Registrant's properties, except for Butler Square Center, generated positive cash flow for the six months ended June 30, 1995. Registrant's Butler Square Center property generated negative cash flow due to extensive tenant improvements. Registrant uses working capital reserves provided from any undistributed cash flow from operations as its primary source of liquidity. Registrant distributed $556,000 to partners (including $6,000 to the general partner) during the six months ended June 30, 1995 and 1994. Distributions are expected to continue in the near future. The level of such distributions will be contingent upon successful future operations. The level of liquidity based on cash and cash equivalents experienced a $60,000 increase at June 30, 1995, as compared to December 31, 1994. Registrant's $574,000 of distributions received from unconsolidated joint ventures (investing activities) and the $427,000 of net cash provided by operating activities were only partially offset by the $385,000 of improvements to real estate (investing activities) and $556,000 of cash distributions to partners (financing activities). The improvements to real estate were primarily at Registrant's Butler Square Center property relating to a significant tenant's expansion of its existing space. Registrant renegotiated the tenant's lease terms to expand the tenant's existing space by 6,500 square feet, extend the expiration date of its lease from August 31, 2007 to April 30, 2015 and include Registrant's payment of $250,000 for tenant improvements. All other increases (decreases) in certain assets and liabilities are the result of the timing of receipt and payment of various operating activities. Working capital reserves are invested in a money market account or in repurchase agreements secured by United States Treasury obligations. At Registrant's joint venture property, Coral Palm Plaza, management accepted a lease buy-out of $800,000 in December 1994 from a significant tenant that had occupied 27,000 square feet, (and was received in 1995). During June 1995, management re-leased 20,000 square feet of the unoccupied space, on similar terms, and recognized a portion of the lease buy-out in the amount of $517,000 ($172,000 allocated to the Partnership). The remaining portion has been deferred and is being amortized as rental income over the remaining eight years of the former tenant's lease. Management is negotiating to re-lease the remaining 7,000 square feet. The Managing General Partner believes that if market conditions remain relatively stable, cash flow from operations, when combined with working capital reserves, will be sufficient to fund required capital improvements in 1995 and the foreseeable future. 11 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Real Estate Market The national real estate market has suffered from the effects of the real estate recession including, but not limited to, a downward trend in market values of existing properties. In addition, the bailout of the savings and loan associations and sales of foreclosed properties by auction reduced market values and caused a further restriction on the ability to obtain credit. As a result, Registrant's ability to sell its properties may be restricted. These factors caused a decline in market property values and serve to reduce market rental rates and/or sales prices. Furthermore, management believes that the emergence of new institutional purchasers, including real estate investment trusts and insurance companies, should create a more favorable market value for Registrant's properties in the future. Results of Operations Six Months Ended June 30, 1995 vs. June 30, 1994 Operating results improved by $326,000 for the six months ended June 30, 1995, as compared to 1994, due to an increase in revenues of $362,000, which was only slightly offset by an increase in expenses of $36,000. Revenues increased by $362,000 for the six months ended June 30, 1995, as compared to 1994, due to increases in equity in unconsolidated joint venture operations of $235,000 and rental income of $127,000. Equity in unconsolidated joint ventures' operations increased due to increases in occupancy at all of Registrant's Minneapolis Business Parks joint venture properties and the recognition of a portion of the termination payment accepted from a major tenant at Coral Palm Plaza in December 1994. Rental income increased primarily due to increased rental rates and occupancy at Registrant's Butler Square Center property. Interest income remained constant due to a decrease in average working capital reserves available for investment, which was offset by higher interest rates. Expenses increased by $36,000 for the six months ended June 30, 1995, as compared to 1994, due to increases in operating expenses of $34,000 and general and administrative expenses of $2,000. Operating expenses increased at all of Registrant's properties, which included an increase in amortization of leasing commissions at Registrant's Butler Square Center property. General and administrative and depreciation expenses remained relatively constant. Three Months Ended June 30, 1995 vs. June 30, 1994 Operating results improved by $252,000 for the three months ended June 30, 1995, as compared to 1994, due to an increase in revenues of $265,000, which was partially offset by an increase in expenses of $13,000. 12 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Results of Operations (Continued) Three Months Ended June 30, 1995 vs. June 30, 1994 (Continued) Revenues increased by $265,000 for the three months ended June 30, 1995, as compared to 1994, due to increases in equity in unconsolidated joint venture operations of $209,000, rental income of $41,000, and interest income of $15,000. Equity in unconsolidated joint ventures' operations increased due to increases in occupancy at all of Registrant's Minneapolis Business Parks joint venture properties and the recognition of a portion of the termination payment accepted from a major tenant at Coral Palm Plaza in December 1994. Rental income increased primarily due to increased rental rates and occupancy at Registrant's Butler Square Center property. Interest income increased due to an adjustment for a prior period underaccrual. Expenses increased by $13,000 for the three months ended June 30, 1995, as compared to 1994, due to an increase in operating expenses of $19,000, which was only partially offset by a decrease in general and administrative expenses of $6,000. Operating expenses increased at all of Registrant's properties, which included an increase in amortization of leasing commissions at Registrant's Butler Square Center property. General and administrative and depreciation expenses remained relatively constant. 13 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Properties A description of the properties in which Registrant has an ownership interest during the period covered by this Report, along with occupancy data, follows: CENTURY PENSION INCOME FUND XXIV, A California Limited Partnership OCCUPANCY SUMMARY
Average Occupancy Rate(%) ------------------------------------ Six Months Three Months Date Ended Ended of Square June 30, June 30, Name and Location Purchase Type Footage 1995 1994 1995 1994 - ----------------- -------- ---- ------- ---- ---- ---- ---- Butler Square Center 01/88 Shopping 80,000 93 77 97 81 Mauldin, South Carolina Center Kenilworth Commons Shopping Center 08/88 Shopping 38,000 100 100 100 100 Charlotte, North Carolina Center Plantation Pointe Shopping Center 04/89 Shopping 63,000 98 98 98 98 Smyrna, Georgia Center Coral Palm Plaza Joint Venture: Coral Palm Plaza (1) 01/87 Shopping 135,000 67 85 67 87 Coral Springs, Florida Center Minneapolis Business Parks Joint Venture: Alpha Business Center (2) 05/87 Business 172,000 95 86 95 87 Bloomington, Minnesota Park Plymouth Service Center (2) 05/87 Business 74,000 100 97 100 100 Plymouth, Minnesota Park Westpoint Business Center (2) 05/87 Business 161,000 91 73 91 72 Plymouth, Minnesota Park
(1) Property is owned by a joint venture between Registrant, which has a 33 and one-third percent interest, and an affiliated partnership. (2) Property is owned by a joint venture between Registrant, which has a 32 percent interest, and an affiliated partnership. 14 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership PART II - OTHER INFORMATION Item 6. Exhibits and Reports on Form 8-K. No report on Form 8-K was required to be filed during the period. 15 of 16 CENTURY PENSION INCOME FUND XXIV - FORM 10-Q - JUNE 30, 1995 A California Limited Partnership 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 thereunto duly authorized. CENTURY PENSION INCOME FUND XXIV, A California Limited Partnership By: FOX PARTNERS VI, Its General Partner By: FOX CAPITAL MANAGEMENT CORPORATION, A General Partner ----------------------------------------------- ARTHUR N. QUELER Secretary/Treasurer and Director (Principal Financial Officer) 16 of 16 EX-27 2 FINANCIAL DATA SCHEDULE
5 The schedule contains summary financial information extracted from Century Pension Income Fund XXIV and is qualified in its entirety by reference to such financial statements. 1 6-MOS DEC-31-1995 JAN-01-1995 JUN-30-1995 2,098,000 0 210,000 0 0 0 17,709,000 (2,983,000) 24,624,000 0 0 0 0 0 24,491,000 24,624,000 0 1,302,000 0 460,000 0 0 0 635,000 0 635,000 0 0 0 635,000 8 8 Receivables include other assets of $88,000.
-----END PRIVACY-ENHANCED MESSAGE-----