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) January 30, 1998 Krupp Realty Limited Partnership-VII Massachusetts 0-14377 04-2842924 (State or other jurisdiction of (Commission (IRS employer incorporation or organization)file number)identification no.) 470 Atlantic Avenue, Boston, Massachusetts 02210 (Address of principal executive offices) (Zip Code) (617) 423-2233 (Registrant's telephone number, including area code) Item 2. Acquisition or Disposition of Assets Disposition of Nora Corners Shopping Center On December 2, 1997, Berkshire Realty Enterprise Limited Partnership, an affiliate of the General Partners, as agent for Krupp Realty Limited Partnership-VII (the "Partnership"), entered into an Agreement of Sale to sell Nora Corners, a shopping center containing 89,432 leasable square feet, located in Indianapolis, Indiana, to Kejack, Inc. and its permitted assigns, which are unaffiliated third parties. The property was included in a package with thirteen other properties owned by affiliates of the General Partners. The total selling price of the fourteen properties was $138,000,000, of which the Partnership received $6,604,300, less the assumption of the first mortgage note payable of $4,084,037 and its share of the closing costs. The transaction was consummated on January 30, 1998. Item 7. Financial Statements and Exhibits (a) Financial Statements of Business Acquired Response: Not applicable (b) Pro Forma Financial Information Response: Proforma financial statements will be filed no later than March 31, 1998. (c) Exhibits 1. Agreement of Sale dated December 2, 1997 between Berkshire Realty Enterprise Limited Partnership, agent for Krupp Realty Limited Partnership-VII, and Kejack, Inc. and its permitted assigns. 2. First Amendment to Agreement of Sale dated December 12, 1997 between Berkshire Realty Enterprise Limited Partnership, agent for Krupp Realty Limited Partnership-VII, and Kejack, Inc. and its permitted assigns. 3. Second Amendment to Agreement of Sale dated December 14, 1997 between Berkshire Realty Enterprise Limited Partnership,agent for Krupp Realty Limited Partnership-VII, and Kejack, Inc.and its permitted assigns. 4. Side letter dated December 17, 1997 from William S. Gee on behalf of Kejack,Inc. and its permitted assigns to Eli Rubenstein,Esq.on behalf of Berkshire Realty Enterprise Limited Partnership, agent for Krupp Realty Limited Partnership-VII. 5. Side letter dated January 6, 1998 from William S.Gee on behalf of Kejack,Inc. and its permitted assigns to Eli Rubenstein, Esq. on behalf of Berkshire Realty Enterprise Limited Partnership, agent for Krupp Realty Limited Partnership-VII. 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, thereunto duly authorized. Krupp Realty Limited Partnership-VII (Registrant) BY: /s/Wayne H. Zarozny Wayne H. Zarozny Treasurer and Chief Accounting Officer of the Krupp Corporation, a General Partner. DATE: February 2, 1998