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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
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FORM 8-K
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| CURRENT REPORT | ||||
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Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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| Date of Report (Date of earliest event reported): | January 9, 2015 | |||
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DSI Realty Income Fund XI | ||||
| (Exact name of registrant as specified in its charter) | ||||
| California | 33-26038 | 33-0324161 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
| 6700 E. Pacific Coast Hwy, Long Beach, California | 90803 | |||
| (Address of principal executive offices) | (Zip Code) | |||
| Registrant’s telephone number, including area code (562) 493-8881 | ||||
| Not Applicable | ||||
| (Former name or former address, if changed since last report.) | ||||
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation 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 5.07 Submission of Matters to a Vote of Security Holders.
On January 9, 2015 the sale of all of the properties and related assets of DSI Realty Income Fund XI (the “Fund”) to affiliates of Smart Stop Self Storage (the “Sale”). The Sale was approved by the affirmative vote of the holders of approximately 54.5% of the outstanding units of limited partnership interests in the Fund (the “Units”) in accordance with the proxy statement of the Fund dated November 21, 2014. The Sale is expected to be completed within the next 60 days for an aggregate gross sale price of $16,760,000.
The dissolution of the Fund was also approved by the affirmative vote of the holders of approximately 53.3% of the Units, which will occur following the sale of all Fund properties and the settlement of all accounts of the Fund.
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: February 18, 2015 DSI Realty Income Fund XI
By: DSI PROPERTIES, INC.,
General Partner
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Richard P. Conway
Executive Vice President and
Chief Financial Officer