United States Securities and Exchange Commission
Washington, D.C. 20549
FORM 10-Q/A
(Mark One)
X Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
- --- Exchange Act of 1934
For the Quarterly Period Ended March 31, 1999
or
Transition Report Pursuant to Section 13 of 15(d) of the Securities
- --- Exchange Act of 1934
For the transition period from ____ to ____
Commission File Number: 0-10223
CONAM REALTY INVESTORS 81 L.P.
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Exact Name of Registrant as Specified in its Charter
California 13-3069026
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State or Other Jurisdiction of I.R.S. Employer Identification No.
Incorporation or Organization
1764 San Diego Avenue
San Diego, CA 92110-1906
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Address of Principal Executive Offices Zip Code
(619) 297-6771
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Registrant's Telephone Number, Including Area Code
The undersigned registrant hereby amends the following section of its Report for
March 31, 1999 on Form 10-Q as set forth in the pages attached hereto:
Part 1 - Financial Information
Item 1. Financial Statements
Consolidated Statements of Operations
Part 2 - Other Information
Item 6. Exhibits and Reports on Form 8K
a) Exhibits
(27) Financial Data Schedule
Part 1 - Financial Information
Item 1. Financial Statements
CONAM REALTY INVESTORS 81 L.P.
AND CONSOLIDATED VENTURES
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CONSOLIDATED STATEMENTS OF OPERATIONS
For the three months ended March 31, 1999 1998
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Income
Rental $ 265,290 $848,852
Interest and other 63,746 11,625
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Total Income 329,036 860,477
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Expenses
Property operating 174,764 346,966
Depreciation and amortization 32,070 192,457
Interest 61,890 208,684
General and administrative 32,137 41,043
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Total Expenses 300,861 789,150
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Income from operations 28,175 71,327
Gain on sale of properties 12,274,841 --
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Income before extraordinary items 12,303,016 71,327
Extraordinary loss from debt extinguishment (129,068) --
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Net income $12,173,948 $ 71,327
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Net income allocated:
To the General Partner $ 277,765 $ 17,398
To the Limited Partners 11,896,183 53,929
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Net income $12,173,948 $ 71,327
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Per limited partnership Unit
(78,290 Units outstanding)
Income from operations $ 0.33 $ 0.69
Extraordinary loss from debt extinguishment (1.65) --
Gain on sale of properties 153.27 --
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Net income $ 151.95 $ 0.69
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CONSOLIDATED STATEMENT OF PARTNERS' CAPITAL
For the three months ended March 31, 1999
General Limited
Partner Partners Total
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Balance (deficit) at December 31, 1998 $ (298,566) $ 2,178,493 $ 1,879,927
Net income 277,765 11,896,183 12,173,948
Distributions ($172.50 per Unit) (142,072) (13,505,025) (13,647,097)
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Balance (deficit) at March 31, 1999 $ (162,873) $ 569,651 $ 406,778
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See accompanying notes to the consolidated financial statements.
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.
CONAM PROPERTY SERVICES, LTD.
General Partner of ConAm Realty Investors 81 L.P.
BY: CONTINENTAL AMERICAN DEVELOPMENT, INC.
GENERAL PARTNER
Date: June 10, 1999 BY: /s/ DANIEL J. EPSTEIN
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Daniel J. Epstein
Director, President, and Principal Executive Officer
Date: June 10, 1999 BY: /s/ ROBERT J. SVATOS
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Robert J. Svatos
Vice President and Director