8-K 1 d80856e8-k.txt FORM 8-K 1 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): September 26, 2000 MURRAY INCOME PROPERTIES I, LTD. (Exact Name of Registrant as Specified in Charter) TEXAS 0-14105 75-1946214 ----- ------- ---------- (State or Other Jurisdiction of (Commission File (I.R.S. Employer Incorporation or Organization) Number) Identification Number) 5550 LBJ Freeway, Suite 675, Dallas, Texas 75240 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (972) 991-9090 Not applicable (Former Name or Former Address, if Changed Since Last Report) 2 ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS. On September 26, 2000, pursuant to a Purchase and Sale Agreement effective as of July 12, 2000, by and between Murray Income Properties I, Ltd. (the "Partnership") and Central One, Inc. and James H. Kaufman, as tenants in common (the "Purchaser"), as amended, the Partnership sold the Mountain View Plaza Shopping Center property, located in Scottsdale, Arizona, for a sales price of $7,420,000 in cash. This sale of the property was authorized by its limited partners at a special meeting held on March 10, 2000. The Purchaser has no relationship with the Partnership or its general partners and its officers or directors (or their associates). The general partners anticipate that the commissions and expenses of the sale will be approximately $300,000, resulting in a net proceeds to the Partnership of $7,120,000 and a gain of approximately $1,839,000. The sales price of $7,420,000 exceeds the December 31, 1998 appraised value of $7,100,000, as disclosed in the proxy statement that was mailed to the limited partners on or about January 14, 2000. The Partnership anticipates making a distribution of a portion of the net proceeds received from the sale of the Mountain View Plaza Shopping Center property along with the quarterly distribution from the Partnership's operations. 2 3 ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (b) PRO FORMA FINANCIAL INFORMATION MURRAY INCOME PROPERTIES I, LTD. (A LIMITED PARTNERSHIP) AND CONSOLIDATED JOINT VENTURE PRO FORMA CONSOLIDATED BALANCE SHEET JUNE 30, 2000 (UNAUDITED)

See notes to pro forma financial statements 3 4 MURRAY INCOME PROPERTIES I, LTD. (A LIMITED PARTNERSHIP) AND CONSOLIDATED JOINT VENTURE PRO FORMA CONSOLIDATED STATEMENT OF EARNINGS FOR THE SIX MONTHS ENDED JUNE 30, 2000 (UNAUDITED)

See notes to pro forma financial statements 4 5 MURRAY INCOME PROPERTIES I, LTD. (A LIMITED PARTNERSHIP) AND CONSOLIDATED JOINT VENTURE PRO FORMA CONSOLIDATED STATEMENT OF EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1999 (UNAUDITED)

See notes to pro forma financial statements 5 6 MURRAY INCOME PROPERTIES I, LTD. (A LIMITED PARTNERSHIP) AND CONSOLIDATED JOINT VENTURE NOTES TO PRO FORMA CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) The unaudited pro forma consolidated balance sheet as of June 30, 2000 is based on the unaudited historical consolidated financial statements of the Partnership after giving effect to the disposition as described in Item 2 as if the sale had been consummated as of June 30, 2000. The pro forma adjustments include net proceeds of approximately $7,120,000. The unaudited pro forma consolidated statement of earnings for the six months ended June 30, 2000 is based on the unaudited historical statement of earnings of the Partnership after giving effect to the disposition as described in Item 2 as if the sale had been consummated on January 1, 2000. The unaudited pro forma consolidated statement of earnings for the year ended December 31, 1999 is based on the unaudited historical consolidated statement of earnings of the Partnership after giving effect to the disposition as described in Item 2 as if the sale had been consummated on January 1, 1999. These unaudited pro forma financial statements may not be indicative of the results that actually would have occurred if the transaction had been in effect on the dates indicated or which may be obtained in the future. The unaudited pro forma financial statements should be read in conjunction with the financial statements of the Partnership including its Annual Report on Form 10-K for the year ended December 31, 1999 and the unaudited financial statements of the Partnership on Form 10-Q for the six months ended June 30, 2000. 6 7 (c) EXHIBITS. 10.1 Purchase and Sale Agreement dated effective as of July 12, 2000 by and between the Partnership and Central One, Inc. and James H. Kaufman, as tenants in common. 10.2 Amendment to Purchase and Sale Agreement dated July 27, 2000 by and between the Partnership and Central One, Inc. and James H. Kaufman, as tenants in common. 10.3 Second Amendment to Purchase and Sale Agreement dated September 19, 2000 by and between the Partnership and Central One, Inc. and James H. Kaufman, as tenants in common. 7 8 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. MURRAY INCOME PROPERTIES I, LTD. By: Murray Realty Investors VIII, Inc., a general partner By: /s/ Mitchell Armstrong -------------------------------- Mitchell Armstrong President Date: October 11, 2000 9 INDEX TO EXHIBITS

MURRAY INCOME PROPERTIES I LTD 8-K