SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934 Date of Report (Date of earliest event reported) December 19, 1995 Property Resources Equity Trust (Exact Name of Registrant as Specified in its Charter) California 0-15880 94-3959770 State or other Commission File Number IRS Employer jurisdiction of Identification incorporation Number 1800 Gateway Drive, San Mateo, CA 94404 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (415)312-3000 ITEM 5: OTHER MATERIAL EVENTS. Termination of contract to sell the Agora Office Building. As previously reported in the Registrant's Form 10-Q for the quarterly period ended September 30, 1995, on November 1, 1995, the Registrant entered into an Agreement of Purchase and Sale with the intent to sell the Agora Office Building (the "Property") to an unaffiliated third party buyer, subject to certain contractual contingencies. On December 19, 1995, the Registrant was informed by the prospective buyer that the buyer exercised its right to terminate the contract. Accordingly the contract has been terminated without further obligation to either party. The Registrant currently intends to continue in its efforts to market the Property for sale but no assurances can be given as to whether or when a sale may occur. Dated: January 9, 1996 PROPERTY RESOURCES EQUITY TRUST BY: /s/ David P. Goss David P. Goss President