Form 8-K - CURRENT REPORT
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: June 27, 2002
HCW PENSION REAL ESTATE FUND LIMITED PARTNERSHIP
(Exact name of registrant as specified in its charter)
Massachusetts 0-14578 04-2825863
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification
Number)
55 Beattie Place
Post Office Box 1089
Greenville, South Carolina 29602
(Address of principal executive offices)
Registrant's telephone number, including area code (864) 239-1000
N/A
(Former address, if changed since last report)
Item 4. Changes in Registrant's Certifying Accountant
As of June 27, 2002, KPMG LLP the independent accountant previously engaged as
the principal accountant to audit the financial statements of HCW Pension Real
Estate Fund Limited Partnership (the "Registrant" or the "Partnership"), was
terminated. As of the same date, the firm of Ernst & Young LLP was engaged to
provide the service for the Registrant.
The audit reports of KPMG LLP on the financial statements of the Partnership as
of and for the years ended December 31, 2001 and 2000 did not contain any
adverse opinion or disclaimer of opinion, nor were they qualified or modified as
to uncertainty, audit scope or accounting principles.
The decision to change accountants was approved by the board of directors of the
managing general partner of the Partnership on June 27, 2002.
During the Partnership's two most recent fiscal years and any subsequent interim
period preceding the change, there were no disagreements with the former
accountants on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which disagreements, if
not resolved to the satisfaction of the former accountants, would have caused it
to make reference to the subject matter of the disagreements in connection with
its report.
The Registrant has provided a copy of this disclosure to the former accountant,
and the Registrant requested that the former accountant furnish the Registrant
with a letter addressed to the Securities and Exchange Commission stating
whether it agrees with the statements made by the Registrant, and, if not,
stating the respects in which it does not agree. A copy of the former
accountant's response indicating agreement is included as an exhibit to this
report.
Item 7. Financial Statements and Exhibits
(c) Exhibits
16.1 Letter dated June 27, 2002 from the former accountant
regarding its concurrence with the statements made by the
Registrant in this Current Report.
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.
HCW PENSION REAL ESTATE FUND LIMITED PARTNERSHIP
By: HCW General Partner, Ltd.,
General Partner
By:IH, Inc.,
the Managing General Partner
By:/s/Patrick J. Foye
Patrick J. Foye
Executive Vice President
Date: July 3, 2002
Exhibit 16.1
June 27, 2002
Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Ladies and Gentlemen:
We were previously principal accountants for HCW Pension Real Estate Fund
Limited Partnership and, under the date of February 28, 2002, we reported on the
financial statements of HCW Pension Real Estate Fund Limited Partnership as of
December 31, 2001 and for the years ended December 31, 2001 and 2000. On June
27, 2002, our appointment as principal accountants was terminated. We have read
HCW Pension Real Estate Fund Limited Partnership's statements included under
Item 4 of its Form 8-K dated June 27, 2002, and we agree with such statements,
except that we are not in a position to agree or disagree with HCW Pension Real
Estate Fund Limited Partnership's statement that the change was approved by the
board of directors of the managing general partner of the Partnership.
Very truly yours,
KPMG LLP
Greenville, South Carolina