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) March 30, 2000 -------------------- Presidential Realty Corporation - --------------------------------------------------------------------- (Exact name of registrant as specified in charter) DELAWARE 1-8594 13-1954619 - ---------------------------- ------------ ------------ (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification Number) 180 South Broadway, White Plains, New York 10605 - ------------------------------------------- ------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (914) 948-1300 -------------- No change since last Report - ------------------------------------------------- (Former name or former address, if changed since last report) Item 2. Acquisition or Disposition of Assets. (a) On March 30, 2000 the Company acquired Preston Lake Apartments, a 320 unit garden apartment property in Norcross, Georgia (a suburb of Atlanta), from EQR Preston Lake Vistas, Inc. The purchase price for the property was $17,450,000. The purchase price was paid with the proceeds of a new $14,000,000 first mortgage loan from Continental Wingate Associates, Inc. and with cash from the Company's available funds. The amount of the purchase price was determined by arms-length negotiations between the Company and the seller and was supported by an appraisal obtained by the Lender in connection with the purchase money loan. Financial statements and pro forma financial information required by Form 8-K will be filed by Amendment to this Form 8-K not later than sixty days after the date hereof. (b) not applicable. 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. Date: April 10, 2000 PRESIDENTIAL REALTY CORPORATION By: Jeffrey F. Joseph ---------------------------- Jeffrey F. Joseph President