-----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, Uj0MMAD64el7Lwgjcc9d5nhCNMhOpyLzOlg6SY4WfSBXkNNDBDe9xJxIKuk4jbio m+09GiGSB0VDzR+igN6m0Q== 0000948524-97-000141.txt : 19971231 0000948524-97-000141.hdr.sgml : 19971231 ACCESSION NUMBER: 0000948524-97-000141 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971226 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971230 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: METRIC PARTNERS GROWTH SUITE INVESTORS LP CENTRAL INDEX KEY: 0000800730 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 943050708 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-17660 FILM NUMBER: 97746639 BUSINESS ADDRESS: STREET 1: ONE CALIFORNIA ST STREET 2: SUITE 1400 CITY: SAN FRANCISCO STATE: CA ZIP: 94111-5415 BUSINESS PHONE: 4156872000 MAIL ADDRESS: STREET 1: ONE CALIFORNIA ST STREET 2: SUITE 1400 CITY: SAN FRANCISCO STATE: CA ZIP: 94111-5415 FORMER COMPANY: FORMER CONFORMED NAME: FOX GROWTH SUITE INVESTORS DATE OF NAME CHANGE: 19880412 FORMER COMPANY: FORMER CONFORMED NAME: MRI BUSINESS PROPERTIES FUND LTD IV DATE OF NAME CHANGE: 19871104 8-K 1 DECEMBER 26, 1997 8-K FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 December 26, 1997 --------------------------------- Date of Report (Date of earliest event reported) Metric Partners Growth Suite Investors, L.P. -------------------------------------------- (Exact name of registrant as specified in its charter) 0-17660 California 94-3050708 ------- ---------- ---------- (Registration (State or Other (IRS Employer File Jurisdiction of Identification Number) Incorporation) Number) One California Street, San Francisco, California 94111-5415 ----------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (415) 678-2000 (800) 347-6707 Wats line for all states ITEM 5. OTHER EVENTS This letter from Registrant to investors dated December 26, 1997, filed herewith as Exhibit 20.2 is hereby incorporated by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits: 20.2 Letter dated December 26, 1997 from Registrant to its investors. 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. METRIC PARTNERS GROWTH SUITE INVESTORS, L.P., a California Limited Partnership By: Metric Realty an Illinois general partnership its Managing General Partner By: SSR Realty Advisors, Inc. a Delaware corporation its managing general partner By: /s/ Ronald Zuzack ------------------------------ Ronald Zuzack Managing Director, Multi-Housing Operating Company, SSR Realty Advisors, Inc. Date: December 30, 1997 ------------------- EX-20 2 OTHER DOCUMENTS/STATEMENTS TO SECURITY HOLDERS December 26, 1997 To: The Investors of Metric Partners Growth Suite Investors, L.P. ("GSI" or the "Partnership") RE: Important Information Regarding the Potential Sale of Eight Properties Dear Investor: We are pleased to announce that GSI has entered into a sales contract for eight of the Partnership's nine remaining hotels, with escrow anticipated to close on December 30, 1997. As stated in the 1997 Third Quarter Report, the Residence Inn - - Nashville was not marketed for sale with the other properties pending resolution of certain legal proceedings. If the sale of the eight hotels currently under contract is consummated as anticipated on December 30, 1997, our projections of the Section 1231 gain reported for 1997 would, depending upon an individual investor's date of acceptance into the Partnership (between April 1988 and June 1989), range as indicated on the following chart: Month of Acceptance Estimated Gain under Section 1231 into the Partnership (per Original $10,000 Investment) - --------------------------------------------------------------------------- April 1988 $6000 - --------------------------------------------------------------------------- May 1988 $3140 - --------------------------------------------------------------------------- June 1988 $2490 - --------------------------------------------------------------------------- July 1988 $1990 - --------------------------------------------------------------------------- August 1988 $1630 - --------------------------------------------------------------------------- September 1988 $1400 - --------------------------------------------------------------------------- October 1988 $1190 - --------------------------------------------------------------------------- November 1988 $1030 - --------------------------------------------------------------------------- December 1988 $880 - --------------------------------------------------------------------------- January 1989 $780 - --------------------------------------------------------------------------- February 1989 $690 - --------------------------------------------------------------------------- March 1989 $600 - --------------------------------------------------------------------------- April 1989 $520 - --------------------------------------------------------------------------- May 1989 $450 - --------------------------------------------------------------------------- June 1989 $360 - --------------------------------------------------------------------------- (Over) If the transaction closes as currently anticipated, the Partnership intends to distribute a portion of the net proceeds of this sale during the week of February 16, 1998 to investors of record as of December 31, 1997 in conjunction with the fourth quarter distribution from operations. However, as previously reported, the plaintiff in one of the legal proceedings relating to the Partnership's Residence Inn - Nashville has filed a motion for a temporary injunction prohibiting the distribution of proceeds from the sale of the Partnership's hotels pending a final judgment in the case. A hearing on this motion had been set for December 17, 1997, but has since been rescheduled for January 2, 1998. Until this matter is resolved, the Partnership is unable to determine the amount of sales proceeds, if any, it will be able to distribute. In addition, in conjunction with the sales contract, the Partnership has agreed not to distribute $7.5 million of the net sales proceeds for a period of one year. The dividend from Partnership operations for the fourth quarter will be in the amount of $100 per $10,000 original investment, or 4% per annum. Investors will be kept appraised as to the status of the sale and the outcome of the hearing either via special communications such as this or through the Partnership's regular quarterly reports. To assist investors in preparing their 1997 tax returns, Schedules K-1 are anticipated to be mailed by mid-March 1998. The Schedule K-1 will provide the actual gain reported for 1997 under Section 1231. Questions relating to Partnership performance or the information provided in this special communication should be directed to the Investor Representative at SSR Realty, at (800) 347-6707, extension 2025, or in writing to GSI, c/o SSR Realty Advisors, Inc., One California Street, Suite 1400, San Francisco, CA 94111. Operational questions regarding your investment should be directed to the Partnership's Servicing and Transfer Agent, Gemisys, at (800) 955-3025. Sincerely, METRIC REALTY Managing General Partner -----END PRIVACY-ENHANCED MESSAGE-----