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): February
6, 1995
USP REAL ESTATE INVESTMENT TRUST
(Exact name of registrant as specified in its charter)
Iowa 0-7589 42-6149662
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) No.) Identification No.)
4333 Edgewood Road N.E., 52499
Cedar Rapids, Iowa (Zip Code)
(Address of principal
executive offices)
Registrant's telephone number, including area code: (319)
398-8975
N/A
(Former name or former address, if changed since last
report)
Exhibit Index on Page 4
Page 1
Item 5. Other Events.
On February 1, 1995, USP Real Estate Investment Trust
announced that it has begun exploring strategic alternatives
to maximize shareholder value. Such alternatives may
include a business combination or sale of the Trust's
assets. The decision reflects the opinion of the Trust's
board of trustees that the market price for the Trust's
shares does not adequately reflect the value of the Trust.
A press release reporting the announcement of February 1,
1995 is included herein as an exhibit to this report.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
(99) News release dated February 1, 1995.
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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.
USP REAL ESTATE INVESTMENT
TRUST
/s/ Alan F. Fletcher
Alan F. Fletcher
Vice President and Treasurer
(principal financial officer)
/s/ Edward J. Kittleson
Edward J. Kittleson
Controller
(principal accounting officer)
Dated: February 6, 1995
Page 3
EXHIBIT INDEX
Exhibit
Item Title
or Description Page
99 News
Release dated February 1, 1995 5
Page 4
CONTACT: Alan F. Fletcher
(319) 398-8849
Dennis Roland
(319) 398-8616
FOR IMMEDIATE RELEASE
CEDAR RAPIDS, IOWA--February 1, 1995--USP Real Estate
Investment Trust announced today that it has begun exploring
strategic alternatives to maximize shareholder value. Such
alternatives may include a business combination or sale of
the Trust's assets. The decision reflects the opinion of
the Trust's board of trustees that the market price for the
Trust's shares does not adequately reflect the value of the
Trust.
In other business, the Trust prepaid a mortgage loan on
First Tuesday Mall, Carrollton, Georgia, using proceeds from
the 1994 sale of Midway Business Park, Tucson, Arizona. The
prepayment amount, including a 1% fee to the lender, was
$1,147,526. The annual debt service on this mortgage was
$229,068, including interest at 10%.
USP Real Estate Investment Trust is headquartered in Cedar
Rapids, Iowa and managed by AEGON USA Realty Advisors, Inc.
Trust shares are traded over-the-counter by the symbol
USPTS.
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