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) December 13, 2012

 

REAL ESTATE ASSOCIATES LIMITED IV

 (Exact name of Registrant as specified in its charter)

 

 

California

0-12439 

95-3718731

(State or other jurisdiction

(Commission

(I.R.S. Employer

of incorporation)

File Number)

Identification Number)

 

 

80 International Drive

Post Office Box 1089

Greenville, South Carolina 29602

(Address of principal executive offices)

 

 

(864) 239-1000

(Issuer's telephone number)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

 

[ ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[ ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

[ ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

[ ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 2.01  Completion of Acquisition or Disposition of Assets

 

Real Estate Associates Limited IV, a California limited partnership (the “Registrant”), owns a 99.00% limited partnership interest in The Branford Group Limited Partnership (“Branford”), a Connecticut limited partnership. Branford owns a 44-unit apartment complex located in Branford, Connecticut. As previously disclosed, on October 22, 2012, the Registrant entered into an Assignment and Assumption Agreement (the “Agreement”) with W. Matthew Harp and John D. Prete, collectively the operating general partner of Branford, and Terrace House, LLC, a Connecticut limited liability company (the “Assignee”), relating to the assignment of the limited partnership interest held by the Registrant in Branford for a total price of $1,530,000. The Registrant’s investment balance in Branford was zero at September 30, 2012.

 

Pursuant to the terms of the Agreement, on December 14, 2012, the Registrant assigned its limited partnership interest in Branford to the Assignee effective as of December 13, 2012, and received net proceeds of $1,530,000. The Registrant’s corporate general partner is currently evaluating its cash requirements to determine what portion, if any, of the proceeds received from this transaction will be available to distribute to its partners.