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) July 9, 1999
AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP
(Exact Name of Registrant as Specified in its Charter)
State of Minnesota
(State or other Jurisdiction of Incorporation or
Organization)
333-5604 41-1848181
(Commission File Number) (I.R.S. Employer
Identification No.)
1300 Minnesota World Trade Center, St. Paul, Minnesota 55101
(Address of Principal Executive Offices)
(651) 227-7333
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last
report)
Item 2. Acquisition or Disposition of Assets.
On July 9, 1999, the Partnership purchased a newly
constructed Arby's restaurant in Homewood, Alabama from RTM
Alabama, Inc. The total cash purchase price of the land and
building was approximately $1,357,000. RTM Alabama, Inc. is
not affiliated with the Partnership.
The cash, used in purchasing the property, was from
the proceeds of sale of Limited Partnership Units.
Item 7. Financial Statements and Exhibits.
(a) Financial statements of businesses acquired.
Not Applicable. Property was newly constructed.
(b) A limited number of proforma adjustments are
required to illustrate the effects of the
transaction on the balance sheet and income
statement. The following narrative
description is furnished in lieu of the
proforma statements:
Assuming the Partnership had acquired the
property on January 1, 1998, the Partnership's
Investments in Real Estate would have
increased by $1,357,000 and its Current Assets
(cash) would have decreased by approximately
$1,357,000.
The Total Income for the Partnership would
have increased from $545,711 to $627,196 for
the year ended December 31, 1998 and from
$194,872 to $203,217 for three months ended
March 31, 1999 if the Partnership had owned
the property during the periods.
Depreciation Expense would have increased by
$26,680 and $6,670 for the year ended December
31, 1998 and the three months ended March 31,
1999, respectively.
The net effect of these proforma adjustments
would have caused Net Income to increase from
$296,614 to $351,419 and from $128,252 to
$129,927, which would have resulted in Net
Income of $29.32 and $7.60 per Limited
Partnership Unit outstanding for the year
ended December 31, 1998 and the three months
ended March 31, 1999, respectively.
(c) Exhibits
Exhibit 10.1 - Net Lease Agreement dated
November 20, 1998 between
the Partnership and RTM
Alabama,Inc. relating to the
property at 159 State Farm
Parkway, Homewood, Alabama
(incorporated by reference
to Exhibit 10.11 of Form
10-KSB filed with the
Commission on March 12, 1999).
Exhibit 10.2 - First Amendment to Net Lease
Agreement dated July 9,1999
between the Partnership and
RTM Alabama, Inc. relating to
the property at 159 State Farm
Parkway, Homewood, Alabama.
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.
AEI INCOME & GROWTH FUND XXII
LIMITED PARTNERSHIP
By: AEI Fund Management XXI, Inc.
Its: Managing General Partner
Date: July 20, 1999 /s/ Mark E Larson
By: Mark E. Larson
Its Chief Financial Officer
(Principal Accounting and
Financial Officer)