SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): November 14, 1997
Aegis Realty, Inc.
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(Exact Name of Registrant as Specified in Charter)
Maryland
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(State or other Jurisdiction of Incorporation)
1-13239 13-3967879
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(Commission File Number) (IRS Employer Identification Number)
625 Madison Avenue, New York, NY 10022
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (212) 421-5333
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report
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Item 5. Other Events
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Related Aegis LP, the advisor to Aegis Realty Operating Partnership,
L.P. and Aegis Realty, Inc. (collectively "Aegis") has been approved for a $40
million senior revolving credit facility (the "Facility") from BankBoston, N.A.
("BankBoston"). Proceeds from the Facility will be used to acquire retail and
multi-family properties to add to Aegis' current diversified portfolio of real
estate which includes direct or indirect interests in 14 neighborhood shopping
centers, two garden apartment complexes and three participating FHA co-insured
mortgage loans. The interest rate is expected to float 1/2% under BankBoston's
base rate but can also be fixed in 30, 60, 90 and 180 day periods at 1.625% over
the indicated Euro-contract rate. Aegis has a Net Asset Value of approximately
$121,000,000 based upon the pro forma financial information set forth in Aegis'
Solicitation Statement dated June 18, 1997. Leverage will not exceed 50% of
Aegis' Total Market Value as of the date incurred.
Aegis and BankBoston intend to close the Facility in December although
no assurance can be given regarding the exact timing of such events. Certain
items in this 8-K may constitute forward-looking statements within the meaning
of the Private Litigation Reform Act of 1995 and as such may involve known and
unknown risk, uncertainties and to other factors which may cause the actual
results, performance or achievements of Aegis to be materially different from
any future results, performances, or achievements expressed or implied by such
forward-looking statements. Such forward-looking statements speak only as of the
date of this 8-K Aegis expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Aegis' expectations with regard
thereto or any change in events, conditions or circumstances on which any such
statement is based.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(a). Financial Statements
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Not Applicable
(b). Pro Forma Financial Information
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Not Applicable
(c). Exhibits
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99.1 November 17, 1997 Press Release "Aegis Realty, Inc. Arranges
a $40 Million Line of Credit Facility with Bank Boston, N.A."
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Aegis Realty, Inc.
(Registrant)
BY: /s/ Stuart J. Boesky
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Stuart J. Boesky
President
November 14, 1997
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