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): June 30, 1998 CLARION COMMERCIAL HOLDINGS, INC. (Exact name of registrant as specified in its charter) Maryland (State or other jurisdiction of incorporation) 001-14167 (Commission File Number) 13-398895 (I.R.S. Employer Identification Number) 335 Madison Avenue, New York, New York 10017 (Address of principal executive offices including zip code) (212) 883-2500 (Registrant's telephone number including area code) 2 Item 5. Other Events On June 30, 1998, Clarion Commercial Holdings, Inc.("Clarion") announced Clarion's decision to initiate a program to repurchase shares of its Common Stock, par value $.001 per share. The news release announcing the repurchase program, dated June 30, 1998, is incorporated by reference herein, and is attached and filed herewith as Exhibit 99.3. Item 7. Financial Statements and Exhibits (c) Exhibits The following exhibit is filed as part of this report: (99.3) News release of Clarion Commercial Holdings, Inc. dated June 30, 1998. 3 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. CLARION COMMERCIAL HOLDINGS, INC. (Registrant) Date: July 7, 1998 By: /s/ Daniel Heflin ---------------------------------------- Daniel Heflin Chief Executive Officer and President EXHIBIT INDEX Exhibit Number Description 99.3 The news release of Clarion Commercial Holdings, Inc. dated June 30, 1998.