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)       September 30, 1997
                                                  ------------------------------




                       McNEIL PACIFIC INVESTORS FUND 1972
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)





         California                      0-7162             94-6279375
--------------------------------------------------------------------------------
(State or other jurisdiction of        (Commission          (I.R.S. Employer
incorporation or organization)          File Number)        Identification No.)




             13760 Noel Road, Suite 600, LB70, Dallas, Texas, 75240
--------------------------------------------------------------------------------
               (Address of principal executive offices) (Zip code)



Registrant's telephone number, including area code    (972)  448-5800
                                                   -----------------------------
<PAGE>



ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS
-------  ------------------------------------

On September  30, 1997,  the  Registrant  sold Palm Bay  Apartments,  a 346 unit
apartment complex located in Orlando,  Florida, to Ceebraid Signal Portfolio II,
L.P.,  an  unaffiliated  purchaser.  The sales  price was  $6,850,000.  Net cash
proceeds to the  Partnership  amounted  to  approximately  $4,508,960.  Palm Bay
Apartments was the Partnership's last real estate asset.


<PAGE>


                       McNEIL PACIFIC INVESTORS FUND 1972


                                   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 thereunto duly authorized:



                                    McNEIL PACIFIC INVESTORS FUND 1972



October 15, 1997                    By:  /s/  Brandon K. Flaming
-------------------                    -----------------------------------------
Date                                     Brandon K. Flaming
                                         Chief Accounting Officer of McNeil
                                           Real Estate Management, Inc.
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 2591}]
{"company-data": {"conformed-name": "MCNEIL PACIFIC INVESTORS FUND 1972", "cik": "0000064309", "assigned-sic": "6512", "irs-number": "946279375", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-07162", "film-number": "97695994"}, "business-address": {"street1": "13760 NOEL RD STE 700 LB70", "city": "DALLAS", "state": "TX", "zip": "75240", "phone": "9724485800"}, "mail-address": {"street1": "13760 NOEL ROAD SUITE 700 LB 70", "city": "DALLAS", "state": "TX", "zip": "75240"}}
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)       September 30, 1997
                                                  ------------------------------

                       McNEIL PACIFIC INVESTORS FUND 1972
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

         California                      0-7162             94-6279375
--------------------------------------------------------------------------------
(State or other jurisdiction of        (Commission          (I.R.S. Employer
incorporation or organization)          File Number)        Identification No.)

             13760 Noel Road, Suite 600, LB70, Dallas, Texas, 75240
--------------------------------------------------------------------------------
               (Address of principal executive offices) (Zip code)

Registrant's telephone number, including area code    (972)  448-5800
                                                   -----------------------------
ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS
-------  ------------------------------------

On September  30, 1997,  the  Registrant  sold Palm Bay  Apartments,  a 346 unit
apartment complex located in Orlando,  Florida, to Ceebraid Signal Portfolio II,
L.P.,  an  unaffiliated  purchaser.  The sales  price was  $6,850,000.  Net cash
proceeds to the  Partnership  amounted  to  approximately  $4,508,960.  Palm Bay
Apartments was the Partnership's last real estate asset.
McNEIL PACIFIC INVESTORS FUND 1972

                                   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 thereunto duly authorized:

                                    McNEIL PACIFIC INVESTORS FUND 1972

October 15, 1997                    By:  /s/  Brandon K. Flaming
-------------------                    -----------------------------------------
Date                                     Brandon K. Flaming
                                         Chief Accounting Officer of McNeil
                                           Real Estate Management, Inc.