SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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)
July 25, 1997
INTEGRATED RESOURCES HIGH EQUITY PARTNERS, SERIES 85
A CALIFORNIA LIMITED PARTNERSHIP
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(Exact name of registrant as specified in its charter)
CALIFORNIA 0-14438 13-3239107
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
c/o Wexford Management LLC
411 West Putnam Avenue, Greenwich, CT 06830
(Address of principal executive offices)
(203) 862-7000
(Registrant's telephone number, including area code)
None
(Former name, or former address, if changed since last report)
Item 1. Changes in Control of Registrant
On July 25, 1997, Wexford Management LLC ("Wexford"), the management
company for Presidio Capital Corp. ("Presidio") the parent company of Resources
High Equity, Inc., and Presidio AGP Corp., the Managing and Associate General
Partners, respectively, of Integrated Resources High Equity Partners, Series 85,
A California Limited Partnership (the "Partnership"), received notice from
Presidio Holding Company, LLC, which stated that it is the holder of 63% of the
outstanding Class A common shares of Presidio, that it was seeking to remove the
three current Class A directors and replacing them with Edward Scheetz, David
Hamamoto and David King effective as of 12:00 p.m. on September 2, 1997. Wexford
has not determined whether Presidio Holding Company, LLC has the right to seek
and obtain removal or replacement of the current Class A directors pursuant to
such notice. If such holder's ownership is confirmed, the other Class A
shareholders will be entitled to certain representation on the Board.
The complete text of the press release issued by Presidio is attached
hereto as an exhibit and is hereby incorporated by reference in its entirety to
this item.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
c. Exhibits
99.1 Press Release, dated July 28, 1997
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.
Integrated Resources High Equity
Partners, Series 85,
A California Limited Partnership
By: Resources High Equity, Inc.
Dated: August 7, 1997 By: /s/Jay L. Maymudes
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Jay L. Maymudes
Vice President, Secretary,
and Treasurer