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 20, 2004 (February 18, 2004) AMERICAN INSURED MORTGAGE INVESTORS - SERIES 85, L.P. (Exact name of registrant as specified in its charter) California 1-11059 13-3257662 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 11200 Rockville Pike Rockville, Maryland 20852 (Address of principal executive offices, including zip code, of Registrant) (301) 816-2300 (Registrant's telephone number, including area code) 2 Item 5. Other Events. Attached as an exhibit to this Current Report on Form 8-K is a press release issued by the General Partner on Febraury 18, 2004 announcing the February distribution to the Partnership's unitholders. The above referenced press release is incorporated by reference herein. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. The following exhibits are filed with this report: Exhibit 99.1 - Press Release dated February 18, 2004. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMERICAN INSURED MORTGAGE INVESTORS - SERIES 85, L.P. By: CRIIMI, Inc. General Partner Dated: February 20, 2004 By:/s/ Mark A. Libera ------------------------- Mark A. Libera Vice President Senior Corporate Counsel 3 EXHIBIT INDEX Exhibit No. Description - -------------------------------------------------------------------------------- * 99.1 Press Release dated February 18, 2004. * Filed herewith.