SECURITIES AND EXCHANGE COMMISSION

                                 WASHINGTON, DC
                                     20549


                    ________________________________________

                                    FORM 8-K
                    ________________________________________

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                        Securities Exchange Act of 1934

                          Date of Report: May 5, 1997
                       (Date of earliest event reported)


                         INSIGNIA FINANCIAL GROUP, INC.
             (Exact name of registrant as specified in its charter)


           DELAWARE                      0-19066                13-3591193
(State or other jurisdiction of       (Commission            (I.R.S. Employer
incorporation or organization)         File Number)            Identification
                                                                   Number)


                          One Insignia Financial Plaza
                              Post Office Box 1089
                        Greenville, South Carolina 29602
                    (Address of Principal Executive Office)


       Registrant's telephone number, including area code: (864) 239-1000


                     ______________________________________

<PAGE>





Item 5.  Other Events

     Insignia Retail Group,  Inc.  announced that it has acquired  substantially
all of the assets of Radius Retail Advisors, Inc. in Newport Beach,  California.
Radius  Retail  Advisors,  Inc.  is a  retail  tenant  representation,  property
representation  and agency  brokerage firm that  successfully  represents  large
space  users,  "big box"  entertainment  and  grocery  related  food  tenants in
Southern California.


Item 7.  Financial Statement and Exhibits

        (c)     Exhibits

    Exhibit No.

     99.1               Press Release dated May 5, 1997



<PAGE>



                                   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.


                                        INSIGNIA FINANCIAL GROUP, INC.

 

                                        By:     /s/ John K. Lines       
                                        --------------------------------
                                                John K. Lines
                                                General Counsel

Date:  May 14, 1997
[{"type": "8-K", "sequence": "1", "description": "ACQUISITION OF RADIUS RETAIL ADVISORS, INC.", "secsgml_size_bytes": 2608}]
{"company-data": {"conformed-name": "INSIGNIA FINANCIAL GROUP INC", "cik": "0000870480", "assigned-sic": "6552", "irs-number": "133591193", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13962", "film-number": "97605422"}, "business-address": {"street1": "ONE INSIGNIA FINANCIAL PLZ", "street2": "PO BOX 1089", "city": "GREENVILLE", "state": "SC", "zip": "29602", "phone": "8032391000"}, "mail-address": {"street1": "ONE INSIGNIA FINANCIAL PLZ", "street2": "PO BOX 1089", "city": "GREENVILLE", "state": "SC", "zip": "29602"}, "former-company": {"former-conformed-name": "METSOUTH FINANCIAL CORPORATION", "date-changed": "19600201"}}
SECURITIES AND EXCHANGE COMMISSION

                                 WASHINGTON, DC
                                     20549

                    ________________________________________

                                    FORM 8-K
                    ________________________________________

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                        Securities Exchange Act of 1934

                          Date of Report: May 5, 1997
                       (Date of earliest event reported)

                         INSIGNIA FINANCIAL GROUP, INC.
             (Exact name of registrant as specified in its charter)

           DELAWARE                      0-19066                13-3591193
(State or other jurisdiction of       (Commission            (I.R.S. Employer
incorporation or organization)         File Number)            Identification
                                                                   Number)

                          One Insignia Financial Plaza
                              Post Office Box 1089
                        Greenville, South Carolina 29602
                    (Address of Principal Executive Office)

       Registrant's telephone number, including area code: (864) 239-1000

                     ______________________________________
Item 5.  Other Events

     Insignia Retail Group,  Inc.  announced that it has acquired  substantially
all of the assets of Radius Retail Advisors, Inc. in Newport Beach,  California.
Radius  Retail  Advisors,  Inc.  is a  retail  tenant  representation,  property
representation  and agency  brokerage firm that  successfully  represents  large
space  users,  "big box"  entertainment  and  grocery  related  food  tenants in
Southern California.

Item 7.  Financial Statement and Exhibits

        (c)     Exhibits

    Exhibit No.

     99.1               Press Release dated May 5, 1997
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.

                                        INSIGNIA FINANCIAL GROUP, INC.

 

                                        By:     /s/ John K. Lines       
                                        --------------------------------
                                                John K. Lines
                                                General Counsel

Date:  May 14, 1997