0000868740-13-000028.txt : 20130906 0000868740-13-000028.hdr.sgml : 20130906 20130906154111 ACCESSION NUMBER: 0000868740-13-000028 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20130823 ITEM INFORMATION: Completion of Acquisition or Disposition of Assets ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130906 DATE AS OF CHANGE: 20130906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AEI INCOME & GROWTH FUND XXI LTD PARTNERSHIP CENTRAL INDEX KEY: 0000931755 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 411789725 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-85076 FILM NUMBER: 131082927 BUSINESS ADDRESS: STREET 1: 30 EAST 7TH ST SUITE 1300 CITY: ST PAUL STATE: MN ZIP: 55101 BUSINESS PHONE: 6512277333 MAIL ADDRESS: STREET 1: 30 EAST 7TH ST SUITE 1300 CITY: ST PAUL STATE: MN ZIP: 55101 8-K 1 apjohn8k.htm Unassociated Document

 
 
 

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)  August 23, 2013


    AEI INCOME & GROWTH FUND XXI LIMITED PARTNERSHIP
 (Exact name of registrant as specified in its charter)


     State of Minnesota                                               000-29274                                                            41-1789725
            (State or other jurisdiction                                  (Commission File                                                        (IRS Employer
                     of incorporation)                                                  Number)                                                        Identification No.)


30 East 7th Street, Suite 1300, St. Paul, Minnesota, 55101 
(Address of Principal Executive Offices)
 
(651) 227-7333
 (Registrant's telephone number, including area code)


___________________________________________________________
 (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
       (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
       (17 CFR 240.13e-4(c))
 
 
 
 

Section 2 – Financial Information

Item 2.01 Completion of Acquisition or Disposition of Assets.

On August 23, 2013, the Partnership sold its 62% interest in an Applebee’s in Johnstown, Pennsylvania to Ghanekar & Macedo General Partnership, an unrelated third party. The Partnership received net cash proceeds of approximately $1,932,000 for the property, which resulted in a net gain of approximately $589,000.

Section 9 – Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(a) Financial statements of businesses acquired – Not Applicable.

(b) Pro forma financial information – A limited number of pro forma adjustments are required to illustrate the effects of the transaction on the balance sheet and income statement. The following narrative description is furnished in lieu of pro forma statements. Assuming the Partnership had sold the property on January 1, 2012:

The Partnership's Investments in Real Estate would have been reduced by $1,418,065 and its Current Assets (cash) would have increased by $1,932,000 and Partners’ Capital would have increased by $513,935.

For the year ended December 31, 2012, Income from Continuing Operations would have decreased $79,818, representing a decrease in rental income of $130,441, a decrease in depreciation expense of $50,045 and a decrease in property management expenses of $578. For the six months ended June 30, 2013, Income from Discontinued Operations would have decreased $40,081, representing a decrease in rental income of $65,220, a decrease in depreciation expense of $25,022 and a decrease in property management expenses of $117.

The net effect of these pro forma adjustments would have caused Net Income to decrease from $662,666 to $582,848 and from $307,288 to $267,207, which would have resulted in Net Income of $25.38 and $11.68 per Limited Partnership Unit outstanding for the year ended December 31, 2012 and the six months ended June 30, 2013, respectively.

(c) Shell company transactions – Not Applicable.

(d) Exhibits – not required. The property sold represents less than 15% of the total assets of the Partnership as of August 23, 2013.




 
 
 
 

 
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: September 5, 2013
By:
 /s/ PATRICK W KEENE
   
Patrick W. Keene
   
Chief Financial Officer