UNITED STATES
                       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):       Commission File Number
               December 31, 1999                                0-24683




                  Brunner Companies Income Properties, L.P. III
               (Exact Name of Registrant as Specified in Charter)



             Delaware                                      31-1266850
     (State of Incorporation)                  (IRS Employer Identification No.)



                                3632 Wheeler Road
                                 P.O. Box 204227
                           Augusta, Georgia 30917-4227
                    (Address of Principal Executive Offices)

                                 (706) 863-0823
              (Registrant's telephone number, including area code)






<PAGE>

Item 2.  Acquisition or Disposition of Assets

     The Agreed Order Granting Motion For Summary Judgment, Providing For Mutual
Release of Claims and Judgment Decree of Foreclosure was entered in the Court of
Common  Pleas of Logan  County,  Ohio,  with  respect  to  Highpoint  Village in
Bellefontaine,  Ohio,  on  July 20,  1999,  and the  Order of  Confirmation  and
Distribution  was  entered  on  November  4,  1999.  The  Order  of  Sale in the
Montgomery Circuit Court of the Commonwealth of Kentucky with respect to Gateway
Plaza in Mt.  Sterling,  Kentucky,  was entered on August 6, 1999, and the Order
Confirming  Report  of Sale was  entered  on  August  27,  1999.  As part of the
foreclosure of these properties,  the properties have been sold and the proceeds
were used to discharge loans  collateralized  by the properties.  As a result of
the  foreclosure of the  properties,  the General Partner intends to wind up and
dissolve the Partnership in accordance with the Agreement of Limited Partnership
of the  Partnership  as of December  31, 1999.  The General  Partner will make a
liquidating  distribution  of the  balance  of any cash held by the  Partnership
after payment of its remaining obligations, including payments to its lender and
accounting,  legal and other fees. The General  Partner expects to distribute an
aggregate of $508,950.38 in cash on or about  December 15,  1999, to the limited
partners of the Partnership in proportion to each limited partner's  partnership
interest, as provided in the Agreement of Limited Partnership.




















                                      -2-

<PAGE>

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly caused this Current  Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.



                                         BRUNNER COMPANIES INCOME
                                         PROPERTIES, L.P. III


                                         By:  /s/ James M. Hull
                                               Name:  James M. Hull
                                               Title: Member Manager


January 11, 2000





















                                      -3-
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UNITED STATES
                       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):       Commission File Number
               December 31, 1999                                0-24683

                  Brunner Companies Income Properties, L.P. III
               (Exact Name of Registrant as Specified in Charter)

             Delaware                                      31-1266850
     (State of Incorporation)                  (IRS Employer Identification No.)

                                3632 Wheeler Road
                                 P.O. Box 204227
                           Augusta, Georgia 30917-4227
                    (Address of Principal Executive Offices)

                                 (706) 863-0823
              (Registrant's telephone number, including area code)
Item 2.  Acquisition or Disposition of Assets

     The Agreed Order Granting Motion For Summary Judgment, Providing For Mutual
Release of Claims and Judgment Decree of Foreclosure was entered in the Court of
Common  Pleas of Logan  County,  Ohio,  with  respect  to  Highpoint  Village in
Bellefontaine,  Ohio,  on  July 20,  1999,  and the  Order of  Confirmation  and
Distribution  was  entered  on  November  4,  1999.  The  Order  of  Sale in the
Montgomery Circuit Court of the Commonwealth of Kentucky with respect to Gateway
Plaza in Mt.  Sterling,  Kentucky,  was entered on August 6, 1999, and the Order
Confirming  Report  of Sale was  entered  on  August  27,  1999.  As part of the
foreclosure of these properties,  the properties have been sold and the proceeds
were used to discharge loans  collateralized  by the properties.  As a result of
the  foreclosure of the  properties,  the General Partner intends to wind up and
dissolve the Partnership in accordance with the Agreement of Limited Partnership
of the  Partnership  as of December  31, 1999.  The General  Partner will make a
liquidating  distribution  of the  balance  of any cash held by the  Partnership
after payment of its remaining obligations, including payments to its lender and
accounting,  legal and other fees. The General  Partner expects to distribute an
aggregate of $508,950.38 in cash on or about  December 15,  1999, to the limited
partners of the Partnership in proportion to each limited partner's  partnership
interest, as provided in the Agreement of Limited Partnership.

                                      -2-
SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly caused this Current  Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.

                                         BRUNNER COMPANIES INCOME
                                         PROPERTIES, L.P. III

                                         By:  /s/ James M. Hull
                                               Name:  James M. Hull
                                               Title: Member Manager

January 11, 2000

                                      -3-