8-K 1 cws8k.txt 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 AND EXCHANGE ACT OF 1934 Date of Report (Date of Earliest Event Reported) June 14,2002 AEI INCOME & GROWTH FUND XXI LIMITED PARTNERSHIP (Exact Name of Registrant as Specified in its Charter) State of Minnesota (State or other Jurisdiction of Incorporation or Organization) 0-29274 41-1789725 (Commission File Number) (I.R.S. Employer Identification No.) 1300 Minnesota World Trade Center, St. Paul, Minnesota 55101 (Address of Principal Executive Offices) (612) 227-7333 (Registrant's telephone number, including area code) (Former name or former address, if changed since last report) Item 2. Acquisition or Disposition of Assets. On June 14, 2002, the Partnership purchased three recently constructed Children's World daycare centers from ARAMARK Educational Resources, Inc. The properties are located in Andover, Minnesota, Ballwin, Missouri and Kimberly, Wisconsin. The total cash purchase price of the land and buildings was approximately $4,163,000. ARAMARK Educational Resources, Inc. is not affiliated with the Partnership. The cash, used in purchasing the properties, was from the proceeds of the sale of properties. Item 7. Financial Statements and Exhibits. (a) Financial statements of businesses acquired. - Not Applicable. (b) A limited number of proforma adjustments are required to illustrate the effects of the transactions on the balance sheet and income statement. The following narrative description is furnished in lieu of the proforma statements: Assuming the Partnership had acquired the properties on January 1, 2001, the Partnership's Investments in Real Estate would have increased by $4,163,000 and its Current Assets (cash) would have decreased by $4,163,000. The Total Income for the Partnership would have increased from $1,843,888 to $2,237,292 for the year ended December 31, 2001 and from $401,697 to $500,048 for three months ended March 31, 2002 if the Partnership had owned the properties during the periods. Depreciation Expense would have increased by $136,481 and $34,120 for the year ended December 31, 2001 and the three months ended March 31, 2002, respectively. The net effect of these proforma adjustments would have caused Net Income to increase from $2,202,226 to $2,459,149 and from $530,145 to $594,376, which would have resulted in Net Income of $104.49 and $25.33 per Limited Partnership Unit outstanding for the year ended December 31, 2001 and the three months ended March 31, 2002, respectively. (c) Exhibits Exhibit 10.1 - Assignment of Purchase and Sale Agreement dated May 24, 2002 between the Partnership and AEI Fund Management, Inc. relating to the property at 1485 Bunker Lake Boulevard NW, Andover, Minnesota. Exhibit 10.2 - Assignment of Purchase and Sale Agreement dated May 24, 2002 between the Partnership and AEI Fund Management, Inc. relating to the property at 497 Big Bend Road, Ballwin, Missouri. Exhibit 10.3 Assignment of Purchase and Sale Agreement dated May 24, 2002 between the Partnership and AEI Fund Management, Inc. relating to the property at 749 Truman Street, Kimberly, Wisconsin. Exhibit 10.4 Net Lease Agreement dated June 14, 2002 between the Partnership and ARAMARK Educational Resources, Inc. relating to the property at 1485 Bunker Lake Boulevard NW, Andover, Minnesota. Exhibit 10.5 Net Lease Agreement dated June 14, 2002 between the Partnership and ARAMARK Educational Resources, Inc. relating to the property at 497 Big Bend Road, Ballwin, Missouri. Exhibit 10.6 Net Lease Agreement dated June 14, 2002 between the Partnership and ARAMARK Educational Resources, Inc. relating to the property at 749 Truman Street, Kimberly, Wisconsin. 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. AEI INCOME & GROWTH FUND XXI LIMITED PARTNERSHIP By: AEI Fund Management XXI,Inc. Its: Managing General Partner Date: June 18, 2002 By: Mark E. Larson Its Chief Financial Officer (Principal Accounting and Financial Officer)