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 (Date of earliest event reported) September 3, 2003
CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES/2
(Exact name of registrant as specified in its charter)
California 0-11723 94-2883067
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation)
55 Beattie Place
Post Office Box 1089
Greenville, South Carolina 29602
(Address of principal executive offices)
(864) 239-1000
(Registrant's telephone number)
N/A
(Former name or former address, if changed since last report)
Item 2. Acquisition or Disposition of Assets
Consolidated Capital Institutional Properties/2 (the "Partnership") was formed
in April 1983 for the primary purpose of lending funds to Consolidated Capital
Equity Partners/Two, L.P. ("CCEP/2"), a California limited partnership. The
Partnership loaned funds to CCEP/2 subject to a non-recourse note with a
participation interest (the "Master Loan"). The loans were made to, and the real
property that secures the Master Loan was purchased and owned by, CCEP/2.
The Master Loan matured in November 2000. As a result of CCEP/2's inability to
repay the Master Loan, ConCap Equities, Inc., the Partnership's general partner
(the "General Partner"), exercised the Partnership's rights under the Master
Loan agreement and foreclosed on the last remaining property that collateralized
the Master Loan.
On September 3, 2003, the general partner of CCEP/2 executed and filed a deed in
lieu of foreclosure on Glenbridge Manor Apartments, a property owned by CCEP/2.
With the execution of the deed in lieu of foreclosure, title in the property
owned by CCEP/2 is now vested in the Partnership. At this time, the Partnership
intends to continue to operate this property as a residential apartment complex.
Both ConCap Equities, Inc. and ConCap Holdings, Inc., the general partner of
CCEP/2, are wholly owned subsidiaries of Apartment Investment and Management
Company, a real estate investment trust.
Item 7. Financial Statements and Exhibits
(a) Any required financial statements for the properties acquired as well as
the pro forma information for the Partnership are not included in this
report. Any required financial statements and the pro forma information
will be submitted no later than November 17, 2003.
(c) Exhibits
The following exhibits are filed with this report (1):
10.33 Assignment of Partnership Rights and Distributions between
Consolidated Capital Equity Partners/Two, L.P., a California limited
partnership and Consolidated Capital Institutional Properties/2, a
California limited partnership (Incorporated by reference to the
Current Report on Form 8-K dated August 22, 2002).
10.34 Agreement for Conveyance of Real Property, including exhibits
thereto, between Consolidated Capital Equity Partners/Two, L.P., a
California limited partnership and Consolidated Capital
Institutional Properties/2, a California limited partnership
(Incorporated by reference to the Current Report on Form 8-K dated
August 22, 2002).
(1) Schedules and supplemental materials to the exhibits have been omitted but
will be provided to the Securities and Exchange Commission upon request.
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.
CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES/2
By: ConCap Equities, Inc.
Its General Partner
By: /s/Patrick J. Foye
Patrick J. Foye
Executive Vice President and Director
Date: September 22, 2003