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
August 30, 2002
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Date of Report (Date of Earliest Event Reported)
AMERICAN REALTY INVESTORS, INC.
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(Exact Name of Registrant as Specified in its Charter)
Nevada 1-15663 75-2847135
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(State of Incorporation) (Commission (IRS Employer
File No.) Identification No.)
1800 Valley View Lane, Suite 300, Dallas, TX 75234
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (469) 522-4200
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
In 2002, American Realty Investors, Inc. ("ARI") has sold a significant amount
of its properties, as follows:
Sale Units/ Sales Gain/(Loss) %of ARI's
Date Property Location Sq.Ft./Acres Price on Sale Assets Purchaser
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Apartments (dollars in Thousands)
01/18/02 Villas Plano, TX 208 Units $ 8,525 $ 5,615 0.29% First Guaranty Exchange Company
03/20/02 Mallard Lake Greensboro, NC 336 Units 14,100 10,669 0.42% Grand Lagoon Associates, Ltd., Park Avenue
Associates, Ltd., Governor's Square
Associates, Ltd., IG Ashford Regency
Partners, L.P.; ISV Greenbriar Associates,
Ltd., ART Westwood Associates, Ltd.
05/02/02 Stonebridge Florissant, MO 100 Units 4,340 3,081 0.14% Florrisant Townhomes, LLC
06/13/02 Oak Hill Tallahassee, FL 92 Units 3,200 527 0.28% Transcontinental Realty Investors, Inc.
("TCI")
06/24/02 Regency on Kennedy Tampa, FL 78 Units 3,200 (1,458) 0.54% Regency Property Group, LLC
07/11/02 Woodsong Smyrna, GA 190 Units 9,200 7,028 0.17% Woodsong Apartments Partners, L.P.
07/31/02 Valley Hi Tallahassee, FL 54 Units 1,452 435 0.11% Villa San Carlo, LLC
07/31/02 White Pines Tallahassee, FL 85 Units 764 (48) 0.09% Villa San Carlo, LLC
08/30/02 Morning Star Tallahassee, FL 82 Units 2,217 641 0.18% Villa San Carlo II, LLC
08/30/02 Stonegate Tallahassee, FL 83 Units 1,785 (120) 0.23% Villa San Carlo II, LLC
Commercial
03/08/02 Oaktree Village Lubbock, TX 45,623 Sq.Ft. 912 -- 0.21% TCI
06/26/02 Centura Tower Farmers Branch, TX 410,901 Sq.Ft. 50,000 -- 6.01% TCI
Land
01/11/02 Thompson II Dallas County, TX 0.2 Acres 21 (11) 0.00% City of Dallas, Texas
02/26/02 Katrina Palm Desert, CA 2.1 Acres 1,323 978 0.03% BP West Coast Products, LLC
03/08/02 Lakeshore Villas Harris County, TX 16.9 Acres 1,499 -- 0.17% TCI
03/08/02 Rasor Plano, TX 24.5 Acres 1,211 -- 0.16% TCI
03/08/02 Vista Ridge Lewisville, TX 10.0 Acres 1,525 401 0.13% Lewisville Independent School District
04/10/02 Mason Goodrich Houston, TX 7.9 Acres 672 269 0.05% Glen R. Ginter, DDS
05/03/02 Mason Goodrich Houston, TX 10.3 Acres 1,444 895 0.06% Metropolitan Transit Authority
06/13/02 Hollywood Casino Farmers Branch, TX 42.8 Acres 16,987 -- 1.25% TCI
06/26/02 Marine Creek Ft. Worth, TX 54.2 Acres 3,700 -- 0.31% TCI
06/26/02 Mason Goodrich Houston, TX 18.0 Acres 2,790 -- 0.11% TCI
06/26/02 Monterrey Riverside, CA 65.0 Acres 4,625 -- 0.60% TCI
06/26/02 Nashville Nashville, TN 16.6 Acres 1,890 -- 0.12% TCI
08/07/02 Elm Fork Denton County, TX 14.5 Acres 2,745 1,615 0.12% Lewisville Independent School District
08/16/02 Elm Fork Denton County, TX 14.2 Acres 1,526 491 0.12% Alta Carrollton, L.P.
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$141,653 $31,008 11.90%
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Proforma statements of operations are required for the year ended December 31,
2001, and the six months ended June 30, 2002. A proforma balance sheet as of
June 30, 2002, is also required. The required proforma statements of operations
and balance sheet will be filed as an amendment of this Form 8-K as soon as
possible, but no later than September 30, 2002. The proforma statements of
operations will present ARI's operations as if the transactions described above
had occurred at January 1 of each of the periods presented. The proforma balance
sheet will present the property sales described above, as if they had occurred
at January 1, 2002.
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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 hereto duly authorized.
AMERICAN REALTY INVESTORS, INC.
Date: September 16, 2002 By: /s/ Ronald E. Kimbrough
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Ronald E. Kimbrough
Executive Vice President and Chief
Financial Officer (Principal
Financial and Accounting Officer and
Acting Principal Executive Officer)
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