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)     APRIL 21, 1999       
  
  
  
  
                          COMMERCIAL ASSETS, INC.
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter) 
  
  
        MARYLAND               1-2262               84-1240911 
     (State or other          (Commission        (I.R.S. Employer 
     jurisdiction of             File            Identification No.)
     incorporation or           Number)            
      organization) 
  
     3410 GALENA STREET, SUITE 210                       80231 
            DENVER, COLORADO                          (Zip Code)
(Address of principal executive offices) 
  
   Registrant's telephone number, including area code    (303) 614-9410   



 ITEM 5. OTHER EVENTS 
  
      On April 21, 1999, Commercial Assets, Inc. announced its intent to
 acquire shares of Asset Investors Corporation.  The press release is
 attached hereto as Exhibit 99.1 and is incorporated herein by reference. 
  
  
 ITEM 7. EXHIBITS 
  
      99.1  Press Release 



                                   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. 
  
  
                               COMMERCIAL ASSETS, INC. 
  
  
                               By:/s/ David Becker
                                  ---------------------------
                                  Name: David Becker 
                                  Title: Chief Financial Officer 
                                         and Secretary 
  
  Date:  April 21, 1999



                                  EXHIBIT INDEX
  
 Exhibit         Description 
  
 99.1            Press Release
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 2222}]
{"company-data": {"conformed-name": "COMMERCIAL ASSETS INC", "cik": "0000910675", "assigned-sic": "6798", "irs-number": "841240911", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-12262", "film-number": "99598053"}, "business-address": {"street1": "3410 SOUTH GALENA STREET SUITE 210", "city": "DENVER", "state": "CO", "zip": "80231", "phone": "3036149410"}, "mail-address": {"street1": "3410 SOUTH GALENA STREET SUITE 210", "city": "DENVER", "state": "CO", "zip": "80231"}}
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)     APRIL 21, 1999       
  
  
  
  
                          COMMERCIAL ASSETS, INC.
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter) 
  
  
        MARYLAND               1-2262               84-1240911 
     (State or other          (Commission        (I.R.S. Employer 
     jurisdiction of             File            Identification No.)
     incorporation or           Number)            
      organization) 
  
     3410 GALENA STREET, SUITE 210                       80231 
            DENVER, COLORADO                          (Zip Code)
(Address of principal executive offices) 
  
   Registrant's telephone number, including area code    (303) 614-9410   

 ITEM 5. OTHER EVENTS 
  
      On April 21, 1999, Commercial Assets, Inc. announced its intent to
 acquire shares of Asset Investors Corporation.  The press release is
 attached hereto as Exhibit 99.1 and is incorporated herein by reference. 
  
  
 ITEM 7. EXHIBITS 
  
      99.1  Press Release 

                                   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. 
  
  
                               COMMERCIAL ASSETS, INC. 
  
  
                               By:/s/ David Becker
                                  ---------------------------
                                  Name: David Becker 
                                  Title: Chief Financial Officer 
                                         and Secretary 
  
  Date:  April 21, 1999

                                  EXHIBIT INDEX
  
 Exhibit         Description 
  
 99.1            Press Release