-----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, UsX35o6MdcThDUuwtzho0dbWn3eS0VZNX2GdxI28OCQ3Bj1zExCJu9LFqJ+k2j4o mephh6FDx4mxqFCccI6HdA== 0000948524-96-000060.txt : 19961212 0000948524-96-000060.hdr.sgml : 19961212 ACCESSION NUMBER: 0000948524-96-000060 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961210 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19961211 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: 1934 Act SEC FILE NUMBER: 000-17660 FILM NUMBER: 96679073 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 12/10/96 FORM 8K 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 10, 1996 ----------------- 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 10, 1996, filed herewith as Exhibit 20.1 is hereby incorporated by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits: 20.1 Letter dated December 10, 1996 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: Metric Realty Corp. a Delaware corporation its managing general partner By: /s/ Margot M. Giusti --------------------------------------------- Margot M. Giusti Executive Vice President, Finance and Administration; Principal Financial and Accounting Officer of Metric Realty Corp. Date: December 10, 1996 ----------------- EX-20.1 2 LETTER TO INVESTORS December 10, 1996 To: The Investors of Metric Partners Growth Suite Investors, L.P. ("GSI" or the "Partnership") RE: Important Information Concerning the Marketing for Sale of the Partnership's Portfolio Dear Investor: This letter has been prepared to provide you with up-to-date information regarding the status of your investment in Metric Partners Growth Suite Investors, L.P. As previously reported to you, the hotel industry and the operations of the Partnership's Portfolio have improved over the past several years resulting in increased property values. In light of this improvement, and considering the age of the properties and increasing competition in each of the markets, Metric has decided to proceed with the marketing for sale of the nine remaining Residence Inn hotels in the Partnership's Portfolio. At this time, it appears there are a number of potential purchasers of hotels currently active in the marketplace, buying hotels similar to those owned by the Partnership. It is the intention of Metric to market the properties early in 1997, following receipt of the updated appraised values of the properties and compilation of the year-end operational data for the individual hotels. The Partnership originally anticipated holding its hotel properties, which were acquired from 1988 through 1990, for a period of five to ten years. The actual term of ownership, however, is dependent upon market conditions and prevailing economic factors. Metric Realty, the Managing General Partner of GSI, has continued to carefully monitor the individual markets where the Partnership's hotels are located, as well as local and national economic factors which impact the value and timing of the potential sale of the properties. As you will recall, the Partnership completed its first property sale of the Residence Inn - Atlanta (Perimeter West) during the fourth quarter of 1995, as it believed the market conditions were optimum. Metric will continue to prudently manage the Portfolio and carefully monitor the efforts of the hotel operators to enhance performance results. The next quarterly cash distribution from operations is scheduled to be paid on or about February 17, 1997, and is anticipated to be made at a rate of 4% per annum of the original investment, or $10 per Assignee Limited Partnership Unit. Investors will be kept apprised as to the status of Partnership operations and the potential sale of the Portfolio, either through regularly scheduled reports or special communications. The 1996 Annual Report for GSI, which will include the Form 10-K, as filed with the Securities and Exchange Commission, is scheduled to be mailed in April, 1997. Should you have any questions concerning this communication or your investment in GSI, please contact the Partnership's Investor Representative at Metric Realty, at (800) 347-6707. Questions regarding services for your investment, including tax reporting information (Schedules K-1), or transfer or registration documents should be directed to the Partnership's Servicing Agent, Gemisys, at (800) 955-3025. METRIC REALTY Managing General Partner -----END PRIVACY-ENHANCED MESSAGE-----