UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
March 17, 2014
SUMMIT HEALTHCARE REIT, INC.
(Exact name of registrant as specified in its charter)
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| Maryland | 000-52566 | 73-1721791 |
| (State or other jurisdiction | (Commission | (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
1920 Main Street, Suite 400
Irvine, California 92614
(Address of principal executive offices)
(949) 852-1007
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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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 communications pursuant to Rule 425 under the Securities Act. |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act. |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act. |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act. |
| Item 1.02 | Termination of a Material Definitive Agreement |
After an analysis conducted by the independent directors of our board of directors, our independent directors and our board of directors have determined that it is in the best interest of our company and its stockholders to terminate our Advisory Agreement with Cornerstone Realty Advisors, LLC (our “Advisor”) and initiate actions to become self-managed. As a result on March 17, 2014, we delivered written notice to the Advisor terminating the Advisory Agreement as of May 16, 2014. We are currently working with our Advisor in developing an orderly transition where we expect to hire the personnel and obtain the resources necessary to internally self-manage our company.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
99.1 Letter to Stockholders dated March 21 , 2014
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| SUMMIT HEALTHCARE REIT, INC. | ||
| By: | /s/ Dominic J. Petrucci | |
| Name: | Dominic J. Petrucci | |
| Title: | Chief Financial Officer | |
Dated: March 21, 2014
