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) June 27, 2006
NATIONAL PROPERTY INVESTORS 7
(Exact name of Registrant as specified in its charter)
California | 0-13454 | 13-3230613 |
(State or other jurisdiction | (Commission | (I.R.S. Employer |
0f incorporation) | File Number) | Identification Number) |
55 Beattie Place
Post Office Box 1089
Greenville, South Carolina 29602
(Address of principal executive offices)
(864) 239-1000
(Registrant's telephone number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
[ ]
Written communications 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))
Item 2.01
Completion of Acquisition or Disposition of Assets.
National Property Investors 7, a California limited partnership, (the “Registrant”) owned Fairway View II Apartments, a 204-unit apartment complex located in Baton Rouge, Louisiana (“Fairway View II”). On June 27, 2006, the Registrant sold its last remaining investment property, Fairway View II, to a third party, CSHV Fairway View II, LLC, a Delaware limited liability company (the “Purchaser”). The total sales price for Fairway View II was approximately $9,790,000. As a result of this sale the Registrant no longer holds an ownership interest in any investment property.
In accordance with the Amended and Restated Certificate and Agreement of Limited Partnership of the Registrant, the Registrant's managing general partner is evaluating the cash requirements of the Registrant to determine the portion of the net proceeds to be distributed to the Registrant's partners.
SIGNATURE
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.
NATIONAL PROPERTY INVESTORS 7
By:
NPI Equity Investments, Inc.
Managing General Partner
By:
/s/Martha L. Long
Martha L. Long
Senior Vice President
Date:
June 30, 2006