-----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, L254iyPYTxcgEqq4WyjmKROGBRkrSo09bYbby5FYxqyuWXQ5jwQKbDc9aeOtR2s6 G4BqQQScMPGMq4nk/zJipQ== 0000927016-01-502599.txt : 20010822 0000927016-01-502599.hdr.sgml : 20010822 ACCESSION NUMBER: 0000927016-01-502599 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010808 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20010821 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COPLEY PENSION PROPERTIES VI CENTRAL INDEX KEY: 0000824209 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 042988542 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17807 FILM NUMBER: 1719823 BUSINESS ADDRESS: STREET 1: 255 FRANKLIN STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6175781200 MAIL ADDRESS: STREET 1: 399 BOYLSTON STREET CITY: BOSTON STATE: MA ZIP: 02116 FORMER COMPANY: FORMER CONFORMED NAME: NEW ENGLAND PENSION PROPERTIES VI DATE OF NAME CHANGE: 19880113 8-K 1 d8k.txt FORM 8-K 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 (Date of Earliest Event Reported): August 8, 2001 COPLEY PENSION PROPERTIES VI; A REAL ESTATE LIMITED PARTNERSHIP (Exact name of registrant as specified in its charter) Massachusetts (State or Other Jurisdiction of Incorporation) 0-17807 04-2988542 (Commission File Number) (IRS Employer Identification No.) World Trade Center East Two Seaport Lane Boston, MA 02210 (Address of principal executive offices) (Zip Code) (617) 261-9000 Registrant's Telephone Number, Including Area Code Not Applicable (Former Name or Former Address, if Changed Since Last Report) Item 2. Acquisition or Disposition of Assets. - ---------------------------------------------- On August 8, 2001, Copley Pension Properties VI; A Real Estate Limited Partnership (the "Partnership") sold its property located at 21136 South Wilmington Avenue, Carson, California. The property was sold to an unaffiliated third party (the "Buyer") for gross proceeds of $8,217,781. The selling price was determined by arm's length negotiations between the Partnership and the Buyer. The Partnership received net proceeds of approximately $7,964,000 and recognized a gain of approximately $3,670,000. Item 7. Financial Statements and Exhibits. - ------------------------------------------- In connection with the disposition of the asset discussed in Item 2 above, pro forma financial statements are presented below. The pro forma balance sheet is presented as of June 30, 2001 (Exhibit A). The pro forma income statements are presented for the fiscal year ended December 31, 2000 (Exhibit B) and the six month period ended June 30, 2001 (Exhibit C). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amendment to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 21, 2001 COPLEY PENSION PROPERTIES VI; A REAL ESTATE LIMITED PARTNERSHIP (Registrant) By: Sixth Copley Corp., Managing General Partner By:/s/ Alison L. Husid ----------------------- Name: Alison L. Husid Title: President, Chief Executive Officer and Director Copley Pension Properties VI EXHIBIT A A Real Estate Limited Partnership Pro Forma Balance Sheet June 30, 2001 Unaudited
Pro Forma June 30, 2001 June 30, 2001 Adjustment Pro Forma ------------- ------------- ------------------ ASSETS Property held for disposition $4,293,582 ($4,293,582)(a) $ 0 Other assets 90,121 0 90,121 Cash and cash equivalents 1,178,645 7,963,847(a) 9,142,492 ---------- ------------ ---------- $5,562,348 $ 3,670,265 $9,232,613 ========== ============ ========== LIABILITIES AND PARTNERS' CAPITAL Accounts payable $ 54,055 $ 0 $ 54,055 Accrued management fee 31,193 0 31,193 Deferred disposition fees 1,464,280 0 1,464,280 ---------- ------------ ---------- Total liabilities 1,549,528 0 1,549,528 ---------- ------------ ---------- Partners' capital: Limited partners ($144.00 per unit; 160,000 units authorized, 48,78 units issued and outstanding) 3,987,734 3,633,562(a) 7,621,296 General partners 25,086 36,703(a) 61,789 ---------- ------------ ---------- Total partners' capital 4,012,820 3,670,265 7,683,085 ---------- ------------ ---------- $5,562,348 $ 3,670,265 $9,232,613 ========== ============ ==========
3 Copley Pension Properties VI EXHIBIT B A Real Estate Limited Partnership Pro Forma Income Statement Year Ended December 31, 2000
Year Ended Year Ended December 31, 2000 December 31, 2000 Pro Forma Pro Forma Audited Adjustment Unaudited ----------------- ------------ ----------------- Investment Activity Property rentals $ 779,807 ($779,807)(b) $ 0 Property operating expenses (221,323) 221,323 (b) 0 Depreciation and amortization (173,627) 173,627 (b) 0 --------------- --------------- -------------------- 384,857 (384,857) 0 Joint venture earnings 40,932 0 40,932 --------------- --------------- -------------------- Total real estate operations 425,789 (384,857) 40,932 Interest on cash equivalents 124,309 0 124,309 ---------------- --------------- -------------------- Total investment activity 550,098 (384,857) 165,241 Portfolio Expenses General and administrative 180,335 (5,700)(f) 174,635 ---------------- ----------------- ------------------ 180,335 (5,700) 174,635 ---------------- ----------------- ------------------ Net income (loss) $ 369,763 ($379,157) ($9,394) ================ ================= =================== Net income (loss) per limited partnership unit $7.50 ($7.69)(c) ($0.19) ================ ================= =================== Number of limited partnership units outstanding during the year 48,788 48,788 48,788 =============== ================== ===================
4 Copley Pension Properties VI EXHIBIT C A Real Estate Limited Partnership Pro Forma Income Statement Six Months Ended June 30, 2001 Unaudited
Six Months Ended Six Months Ended Pro Forma June 30, 2001 June 30, 2001 Adjustment Pro Forma ----------------- ------------ ----------------- Investment Activity Property rentals $ 423,743 ($423,743)(d) $ 0 Property operating expenses (110,126) 110,126 (d) 0 Depreciation and amortization (94,905) 94,905 (d) 0 ------------------ ----------------- ------------------ 218,712 (218,712) 0 Joint venture earnings 24,928 0 24,928 ------------------ ----------------- ------------------ Total real estate operations 243,640 (218,712) 24,928 Gain on sale of joint venture 962,890 0 962,890 ------------------ ----------------- ------------------ Total real estate activity 1,206,530 (218,712) 987,818 Interest on cash equivalents 57,287 0 57,287 ------------------ ---------------- ------------------ Total investment activity 1,263,817 (218,712) 1,045,105 Portfolio Expenses Management fee 31,193 (18,893)(e) 12,300 General and administrative 76,376 0 76,376 ------------------ ----------------- ------------------ 107,569 (18,893) 88,676 ------------------ ----------------- ------------------ Net income (loss) $1,156,248 ($199,819) $ 956,429 ================== ================= ================== Net income (loss) per limited partnership unit $23.46 ($4.05)(c) $19.41 ================== ================= ================== Number of limited partnership units outstanding during the period 48,788 48,788 48,788 ================== ================= ==================
Pro Forma Financial Statement Footnotes: (a) Disposition of asset as discussed in Item 2 herein and allocation of the gain to the Partners on such disposition. (b) Removal of 2000 operating activity related to the disposed asset discussed in Item 2 herein. (c) Calculation of net loss per limited partnership unit after the removal of operating activity related to the disposed asset discussed in Item 2 herein. (d) Removal of 2001 year-to-date operating activity related to the disposed asset discussed in Item 2 herein. (e) Removal of management fees based on distributions received during the pro forma period from the disposed asset discussed in Item 2 herein. (f) Removal of appraisal fees incurred during the pro forma period for the disposed asset discussed in Item 2 herein. 5 -----END PRIVACY-ENHANCED MESSAGE-----