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): January 1, 2000
AmeriVest Properties Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-14462 84-1240264
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
1800 Glenarm Place, Suite 500, Denver, Colorado 80202
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (303) 297-1800
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Item 5. Other Events.
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(a) Advisory Agreement. Effective January 1, 2000, the Company entered into
an agreement with Sheridan Realty Advisors, LLC for Sheridan to assume
responsibility for the Company's day-to-day operations. Sheridan will manage the
Company's assets and will assist and advise the Board Of Directors on real
estate acquisitions and investment opportunities. The Company will pay Sheridan
an administrative fee and a property management and accounting fee for those
services. The costs for these services are anticipated to be no greater than the
costs paid by the Company in 1999. In addition, Sheridan will receive incentive
compensation in the form of an advisory fee based on new real property
acquisitions and five-year warrants to purchase common stock at $5 per share.
Issuance of the warrants is subject to shareholder approval, which will be
requested at the next Annual Meeting of shareholders. William T. Atkins, the
Chief Executive Officer and a director of the Company, is the co-manager,
chairman and a 16.67% owner of Sheridan Realty Advisors, LLC. Charles K.
Knight, the Secretary and a director of the Company, is the co-manager,
President and a 16.67% owner of Sheridan Realty Advisors, LLC. D. Scott
Ikenberry, the Chief Financial Officer of the Company, is the Chief Financial
Officer and a 16.67% owner of Sheridan Realty Advisors, LLC.
(b) Press Release. The press release of the Company dated December 27,
1999, which is filed as Exhibit 99.1 to this Form 8-K, is incorporated into this
Item 5 by this reference.
Item 7. Financial Statements And Exhibits.
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(a) Financial Statements
Not applicable.
(c) Exhibits.
Exhibit Index
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Exhibit
Number Description
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10.1 Property Management And Advisory Agreement dated January 1, 2000
between the Company and Sheridan Realty Advisors LLC.
99.1 Press release dated December 27, 1999.
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SIGNATURE
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.
Date: January 18, 2000 AMERIVEST PROPERTIES INC.
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By: /s/ James F. Etter
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James F. Etter
President
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