UNITED STATES
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) March 12, 2003

BAXTER CAPITAL COMPANY, INC.
(Exact name of registrant as specified in its charter)

000-30496
(Commission File Number)

Florida 65-0956104
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)

38 Chelsea Square, London, United Kingdom SW3 6LH
(Address of principal executive offices) (Zip Code)

(011) 44 207 351 9880
Registrant's telephone number, including area code

22154 Martella Avenue
Boca Raton, Florida 33433
(Former name or former address, if changes since last report)

INFORMATION TO BE INCLUDED IN THE REPORT

ITEM 1. CHANGES IN CONTROL OF REGISTRANT

On March 12, 2003 (the "Effective Date"), pursuant to a Stock Purchase Agreement
and Share Exchange between Baxter Capital Company, Inc. ("Baxter"), a Florida
corporation and Crossatlantic Properties Ltd., ("Crossatlantic") an Isle of Man
corporation, Baxter acquired all of the shares of Crossatlantic from the
Crossatlantic shareholders in consideration for the issuance of 9,500,000 shares
of Baxter to the Crossatlantic shareholders. Pursuant to the Agreement,
Crossatlantic became a wholly owned subsidiary of Baxter.

Pursuant to the terms of the Agreement, Peter Goldstein resigned as the sole
officer and director of Baxter. In addition, Mr. Goldstein cancelled 500,000 of
his shares of Baxter common stock. Carl Johan Algot Robb was appointed as

Baxter's Chief Executive Officer, Chief Financial Officer and Secretary. Mr.
Robb, Charles M. Lee, Charles Moray and Gareth Jones Thomas were appointed to
Baxter's Board of Directors.

The Acquisition was approved by the unanimous consent of the Board of Directors
of Baxter and Crossatlantic on March 11, 2003.

The following table sets forth information regarding the beneficial ownership of
the shares of Baxter's common stock (the only class of shares previously issued
by Baxter) at March 12, 2003, by (i) each person known by Baxter to be the
beneficial owner of more than five percent (5%) of Baxter's outstanding shares
of common stock, (ii) each director of Baxter, (iii) the executive

officers of Baxter, and (iv) by all directors and executive officers of Baxter
as a group. Each person named in the table, has sole voting and investment power
with respect to all shares shown as beneficially owned by such person and can be
contacted at Baxter's address.

NAME OF SHARES OF
TITLE OF CLASS BENEFICIAL OWNER COMMON STOCK PERCENT OF CLASS
- -------------- ---------------- ------------ ----------------

5% STOCKHOLDERS

Common Carl Johan Algot Robb 9,500,000 95%

DIRECTORS AND NAMED EXECUTIVE
OFFICERS

Common Carl Johan Algot Robb 9,500,000 95%

DIRECTORS AND 9,500,000 95%
OFFICERS AS A
GROUP

The following is a biographical summary of the directors and officers of Baxter:

Carl Johan Algot Robb has been Baxter's Chief Executive Officer, Chief Financial
Officer, Secretary and Director since March 12, 2003. Since 1989, Mr. Robb has
been involved in numerous real property transactions in Europe and Scandinavia,
mainly as an investor. This work has included acquiring, financing,
restructuring and selling property portfolios, both listed and private. In 1986,
Mr. Robb graduated from the French School in Stockholm, Sweden where he was an
economics major. In 1986 and 1987 he studied law at Stockholm University. From
1987 through 1989, he was a Second Lieutenant in the Swedish Army.

Charles M. Lee has been our director since March 12, 2003. Mr. Lee joined Edward
Erdman (London, United Kingdom), a firm of chartered surveyors in 1967. he was
appointed a director of the company in 1973. From 1989 through 1995 he became
chairman of Edward Erdman, which was then known as Colliers Erdman Lewis. He was
responsible for developing the European business of Colliers. He was elected an
Associate of the Royal Institution of Chartered Surveyors in 1971 and became a
Fellow of that institution in 1980. Colliers Erdman Lewis was sold in 1995. At
such time, Mr. Lee established his own company specializing in investment and
development activity in the commercial real property sector, concentrating in
the retail industry. In addition, since 1995, he has been responsible for a
number of notable property transactions and also become a non-executive-director
of a publicly quoted company on the London Stock Exchange, Tops Estates Plc.

Charles Moray has been our director since March 12, 2003. Since June 2002, Mr.
Moray has been a principal in the corporate finance department of Lion Capital
Partners plc, a regulated private equity and corporate finance firm located in
London, United Kingdom. From 2000 until May 2002, he worked as a partner in the
corporate finance department of Columbus Asset Management Limited, a regulated
privately owned financial services firm located in London, United Kingdom. From
1997 through 1999, Mr. Moray was initially a consultant and then a director of
Europe Finance at Industrie SA, a corporate finance firm located in Paris,
France. Since 1968, he has worked in the financial services industry with such
firms as SG Warburg & Co. Limited, First Chicago Limited, The First Boston
Corporation and Merrill Lynch International Inc.

Gareth Jones Thomas has been our director since March 12, 2003. Mr. Thomas
presently is an executive director of Ansgate Hampton Homes Plc based in London,
United Kingdom. This company has developed several real estate properties
throughout the United Kingdom. Mr. Thomas personally owns properties throughout
Europe and operates from Monaco and the United Kingdom. Mr. Thomas was awarded a
Bachelor of Science degree in Mathematics from University College in London.
Upon graduation, he joined Coats Paton and Baldwins Plc for a post graduate
management training program and then moved to Higgs & Hill Plc specializing in
computerized construction control cost. In 1969, he formed his own construction
company, specializing in the application of computer techniques to reducing the
cost and time of erection of industrial buildings. In 1972, London and
Manchester Securities Limited acquired Mr. Thomas' company.

ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS

Pursuant to the Stock Purchase Agreement and Share Exchange, Baxter acquired one
hundred percent (100%) of the issued and outstanding shares of common stock of
Crossatlantic for 9,500,000 shares of $0.001 par value common stock of Baxter.
Pursuant to the Stock Purchase Agreement and Share Exchange, Crossatlantic
became a wholly owned subsidiary of Baxter.

Crossatlantic Properties intends to invest in commercial property in the United
Kingdom. It intends to do this by acquiring public listed companies where the
main asset is properties and by direct purchase of individual properties, and of
property portfolios. It is targeting transactions, in value terms, of up to
(pound)25,000,000 ($37,500,000). We intend to finance these acquisitions by a
combination of any and all of the following: senior debt, mezzanine financing,
issuance of Baxter Capital shares and cash. As an example the acquisition of
Cornhill Limited, which has a gross value of (pound)25,000,000, is financed by a
combination of senior debt provided by Bank of Scotland, mezzanine financing by
the seller and a cash injection. Crossatlantic has targeted, in the immediate
future, the acquisition of Hampton Trust Plc with whom it has in place Heads of
Agreement. The initial step in this transaction is the acquisition of two of its
properties in Swindon (outside London) which have a gross value in excess of
(pound)6,000,000 ($9,000,000). It is Crossatlantic's intention that such
transactions will have the net effect of creating a positive cash flow, and an
increase in the net asset value of Baxter. For example, these two transactions
intend to produce a gross income per annum in excess of (pound)2,200,000
($3,300,000).

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.

a. Financial statements of Crossatlantic will be filed by an amendment to
this report within 60 days after this report must be filed.

b. Pro forma financial information

Pro forma financial information will be furnished with the aforementioned
amendment.

c. Exhibits

NUMBER EXHIBIT

10 Stock Purchase Agreement and Share Exchange dated as of March 12, 2003
by and between Baxter Capital Company, Inc. and Crossatlantic
Properties Ltd.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly authorized and caused the undersigned to sign this Report on
the Registrant's behalf.

BAXTER CAPITAL COMPANY, INC.

By: /s/ Carl Johan Algot Robb
- ----------------------------------
Carl Johan Algot Robb,
Chief Executive Officer,
Chief Financial Officer,
Secretary and Director

Dated: March 27, 2003