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) September 29, 1999
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SB Partners
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(Exact name of registrant as specified in its charter)
New York 000-08952 13-6294787
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
666 Fifth Avenue, New York, NY 10103
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 408-2929
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(Former name or former address, if changed since last report.)
Item 2. Acquisition of Assets
On September 29, 1999, the Registrant purchased Le Coeur du Monde
Apartments, a 192-unit apartment community located in St. Louis,
Missouri, for $13,325,000. The contract price was settled upon after
a competitive bidding process. The seller, Le Coeur du Monde Limited
Partnership, and the Registrant have no affiliation. In connection
with the purchase, the Registrant obtained a first mortgage note of
$10,303,000 with a FNMA DUS program lender. The mortgage note is
secured by the property, bears interest at 7.805% per annum and
matures on October 1, 2009.
Item 7. Financial Statements
The financial statements required to be presented in connection
with the acquisition of Le Coeur du Monde Apartments, including
audited and pro forma financial statements, will be included in a
separate filing on or before December 13, 1999, as an amendment to
this Form 8-K.
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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.
SB Partners
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(Registrant)
By: SB PARTNERS REAL ESTATE CORPORATION
GENERAL PARTNER
Date OCTOBER 14, 1999 /s/ George N. Tietjen III
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George N. Tietjen III
Vice-President