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: April 8, 2015
(Date of earliest event reported)
Uniprop Manufactured Housing Communities Income Fund II
(Exact name of registrant as specified in its charter)
| Michigan | 0-15940 | 38-2702802 |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |
| 280 Daines Street, Suite 300, Birmingham, MI | 48009 |
| (Address of principal executive offices) | (Zip Code) |
248-645-9220
Registrant’s telephone number, including area code
(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 (see General Instruction A.2. below):
| ¨ | 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 1.01 MATERIAL DEFINITIVE AGREEMENT
Uniprop Manufactured Housing Communities Income Fund II (the ”Fund”) owns seven manufactured housing communities in Michigan, Nevada, Florida and Minnesota.
Following an affirmative recommendation from the Consultant and approval of the Board of Directors, on April 7, 2015, the Fund entered into a Contract for Sale and Purchase of Real and Personal Property with Casa Feliz LLC for the sale of El Adobe, one of the Fund’s communities located in Las Vegas, Nevada for a selling price of $8,000,000. There is a forty-five (45) day Due Diligence period, with a subsequent Closing Date thirty (30) days upon expiration of the Due Diligence period. According to the most recent appraisal in February 2015, the community had a market value of $5,700,000. Net cash proceeds from the sale upon closing, are estimated to be approximately $3,500,000.
While the Fund’s management believes that the buyer is financially capable of completing the proposed transaction and fully intends to consummate the purchase, there can be no assurance that the closing will occur.
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.
| UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II | |
| (Registrant) |
Dated: April 8, 2015
| By: | Genesis Associates Limited Partnership, |
General Partner
| By: | Uniprop Inc., its Managing General Partner |
| By: | /s/ Susann E. Kehrig |
Susann E. Kehrig, Principal Financial Officer