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):
June 23, 2005 (June 21, 2005)
AMERICAN INSURED MORTGAGE INVESTORS - SERIES 85, L.P.
(Exact name of registrant as specified in its charter)
California 1-11059 13-3257662
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
11200 Rockville Pike
Rockville, Maryland 20852
(Address of principal executive offices, including zip code, of Registrant)
(301) 255-4743
(Registrant's telephone number, including area code)
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Item 8.01 Other Events.
On June 21, 2005, the General Partner of American Insured Mortgage
Investors - Series 85, L.P. (AIM 85 or the Partnership) issued a press release
announcing that it had approved the liquidation of the Partnership's remaining
assets and the dissolution and termination of the Partnership in accordance with
the terms of the AIM 85 Partnership Agreement, as amended (the Partnership
Agreement). Unitholder approval of the liquidation, dissolution and termination
of AIM 85 is not required under the terms of the Partnership Agreement.
Upon the sale and settlement of the remaining Partnership assets, the
General Partner will declare a final liquidating distribution to AIM 85
unitholders. The final liquidating distribution will represent the unitholder's
pro rata share of the aggregate proceeds from the remaining AIM 85 assets,
including proceeds from prior asset dispositions that have not been previously
distributed, less amounts required for payment of, or provision for, the
Partnership's remaining expenses and distributions to the General Partner, as
more fully set forth in the Partnership Agreement. Dissolution and termination
of the Partnership is expected to occur in July, 2005, although there can be no
assurance of the exact timing of the termination or the amount of the
liquidating distribution to AIM 85 unitholders.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits
99.1 Press release dated June 21, 2005 announcing
the General Partner's approval of the
liquidation and dissolution of AIM 85.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
AMERICAN INSURED MORTGAGE
INVESTORS - SERIES 85, L.P.
By: CRIIMI, Inc.
General Partner
Dated: June 23, 2005 By:/s/Mark A. Libera
-------------------------
Mark A. Libera
Vice President
and General Counsel
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EXHIBIT INDEX
Exhibit
No. Description
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* 99.1 Press Release dated June 21, 2005
* Filed herewith.