-----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, R+F3w5wM4VMlZkJMcewgeyo9ckR9vOeFN8y9HjNCDOAdQzYMaQeSDV8EfKZs2c9h Ed3U93+hdN/pjLUtxiABsw== 0000869446-96-000011.txt : 19960530 0000869446-96-000011.hdr.sgml : 19960530 ACCESSION NUMBER: 0000869446-96-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960514 ITEM INFORMATION: Acquisition or disposition of assets FILED AS OF DATE: 19960529 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BERKSHIRE REALTY CO INC /DE CENTRAL INDEX KEY: 0000869446 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 043086485 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10660 FILM NUMBER: 96573741 BUSINESS ADDRESS: STREET 1: 470 ATLANTIC AVE CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6174232233 MAIL ADDRESS: STREET 1: 470 ATLANTIC AVE CITY: BOSTON STATE: MA ZIP: 02210 8-K 1 UNITED STATES 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) May 14, 1996 Berkshire Realty Company, Inc. Delaware 1-10660 04-3086485 (State or other jurisdiction of (Commission (IRS employer incorporation or organization) file number) identification no.) 470 Atlantic Avenue, Boston, Massachusetts 02210 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (617) 423-2233 Item 2: Acquisition or Disposition of Assets On May 14, 1996, Berkshire Realty Company, Inc. ("The Company"), through a majority owned subsidiary, via contribution acquired The Point Apartments from Turtle Creek Associates Limited Partnership for a value of approximately $52.3 million. Turtle Creek Associates Limited Partnership is approximately 71% owned by certain officers and directors of the Company. In exchange for The Point Apartments, The Company will issue 1.6 million units of BRI OP Limited Partnership along with the assumption of $35.5 million of non-recourse indebtness on the property. Two-thirds of the operating partnership units were issued at closing and the remainder will be issued within 19 months. The debt, provided by Berkshire Mortgage Finance and co-insured by the U.S. Department of Housing and Urban Development, has a fixed interest rate of 7 5/8% and self-amortizes with the last payment in 2029. The Point Apartments is a 1,119 unit high-rise apartment property located in Silver Spring, Maryland. The property, which was built in 1969, is currently undergoing an extensive $15 million rehabilitation, $11 million of which is the responsibility of the Company. The required financial statements of the business acquired and the pro forma financial information will be filed no later than sixty days after the date of this report. 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 thereunto duly authorized. BERKSHIRE REALTY COMPANY INC. /s/Marianne Pritchard Marianne Pritchard Senior Vice President and Chief Financial Officer Date: May 29, 1996 -----END PRIVACY-ENHANCED MESSAGE-----