-----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, UFTYf9XIVXWQyd1PC3zWvZAONsymOtWuqirJuD+s4R67o/KDx6995NvKQXmeIzO9 FznUt9Opl0dfF5DVo0JQwA== 0000948524-96-000063.txt : 19961224 0000948524-96-000063.hdr.sgml : 19961224 ACCESSION NUMBER: 0000948524-96-000063 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19961219 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19961223 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: METRIC INCOME TRUST SERIES INC CENTRAL INDEX KEY: 0000846722 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 943087630 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18294 FILM NUMBER: 96685218 BUSINESS ADDRESS: STREET 1: ONE CALIFORNIA STREET STREET 2: SUITE 1400 CITY: SAN FRANCISCO STATE: CA ZIP: 94111-5415 BUSINESS PHONE: 4156782000 MAIL ADDRESS: STREET 1: ONE CALIFORNIA ST STREET 2: SUITE 1400 CITY: SAN FRANCISCO STATE: CA ZIP: 94111-5415 FORMER COMPANY: FORMER CONFORMED NAME: METRIC PARTNERS HIGH INCOME FUND SERIES I INC DATE OF NAME CHANGE: 19890629 8-K 1 DECEMBER 19, 1996 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 19, 1996 ----------------- Date of Report (Date of earliest event reported) Metric Income Trust Series, Inc. -------------------------------- (Exact name of registrant as specified in its charter) 0-18294 California 94-3087630 ------- ---------- ---------- (Registration (State or Other (IRS Employer File Juririsdiction 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 Watts line for all states ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS (a) The Registrant was organized to acquire, hold for investment, manage, and ultimately sell income-producing real properties and investments in securities. In the normal course of its business, the registrant sold the Harris County (Houston), Texas Stop N Go store (the "Property"), leased to National Convenience Stores. TERMS OF ORIGINAL ACQUISITION On November 30, 1989 the Registrant acquired Stop N Go store #3755 in Harris County (Houston), Texas for $1,812,000, including acquisition fees and other miscellaneous closing costs. In 1994 a portion of the land was condemned by the Texas Transportation Commission, and the Registrant was awarded $91,000. The allocated basis on the land condemned was $123,000, therefore a loss on the sale of property of $32,000 was reported in the Form 10-K filed by the registrant for 1994. TERMS OF DISPOSITION AND FINANCING The Registrant sold the Harris County (Houston) Stop N Go on December 19, 1996. The net sales price was $1,410,000. After payment of estimated expenses of sale, the proceeds to the Registrant are approximately $1,310,000. CARRYING AMOUNT AT DATE OF SALE At the date of sale, the carrying amount of the land and improvements and deferred rental income receivable was approximately $1,587,000 for financial statement purposes. The carrying amount of the land and improvements was approximately $1,578,000 for tax reporting purposes. LOSS ON SALE Under the accrual method of accounting, the estimated loss to be recognized in the fourth quarter of 1996 from the sale of the Property is approximately $277,000. Under the tax method of accounting, the estimated loss is approximately $268,000. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (a) Financial statements Not applicable. (b) Pro Forma Financial Information Not applicable. (c) Exhibits. Upon their receipt, Registrant will amend its Form 8-K to include the disposition documents for the Harris County (Houston) Stop N Go store. 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 INCOME TRUST SERIES, INC. a California Corporation By: /s/ Margot M. Giusti ------------------------- Margot M. Giusti Chief Financial Officer Date: December 24, 1996 ----------------- -----END PRIVACY-ENHANCED MESSAGE-----