UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events.
As previously disclosed by DiVall Insured Income Properties 2, Limited Partnership (the “Partnership”), pursuant to a consent solicitation that concluded on October 15, 2020, the Partnership solicited and obtained the affirmative consent of limited partners holding more than a majority of the Partnership’s outstanding Units to authorize its sole general partner, The Provo Group, Inc. (the “General Partner”), to sell the Partnership’s properties (the “Properties”) prior to November 30, 2023 if the General Partner determines such sale to be in the best interest of the Partnership and, upon the sale of all Properties, to commence an orderly liquidation, wind-up and dissolution of the Partnership. In connection with such consent, the limited partners approved a resolution granting the General Partner the authority to sell all or substantially all of the Partnership’s assets prior to November 30, 2023 and subsequently liquidate and dissolve the Partnership, without further approval from the limited partners.
On August 25, 2023, the General Partner adopted resolutions (a) determining that it is in the best interest of the Partnership to sell all or substantially all of the Partnership’s assets, and (b) providing that the General Partner will, upon the sale of such assets, liquidate and dissolve the Partnership in accordance with applicable law and the terms of the Partnership’s Limited Partnership Agreement, as amended. The General Partner intends to complete the asset sales by December 31, 2023. However, no assurance can be made as to the actual dates of completion.
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements that relate to future events. These statements may be identified by the use of forward-looking terminology such as “intends,” “anticipates,” “believes,” “expects,” “will,” or other variations on these terms. The Partnership cautions you that such statements are simply predictions and actual events or results may differ materially. These statements reflect the Partnership’s current expectations, and the Partnership does not undertake to publicly update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results will not be realized. The statements also involve risks and uncertainties, many of which are beyond the Partnership’s control, which could cause actual results to differ materially from the forward-looking statements.
SIGNATURES
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.
DiVall Insured Income Properties 2, LP (Registrant) | ||
| Date: August 31, 2023 | By: | /s/ Lynette L. DeRose |
| Lynette L. DeRose | ||
| Chief Financial Officer | ||