UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q
               |X|QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                                       OF
                       THE SECURITIES EXCHANGE ACT OF 1934


                  For the quarterly period ended March 31, 2000


                         Commission file number 0-17651


                            HIGH CASH PARTNERS, L.P.
             (Exact name of registrant as specified in its charter)

               DELAWARE                                     13-3347257
    (State or other jurisdiction of                      (I.R.S. Employer
    incorporation or organization)                      Identification No.)

                            High Cash Partners, L.P.
                           c/o Colliers International
                          5310 Kietzke Lane, Suite 105
                               Reno, Nevada 89511
                    (Address of principal executive offices)

                                 (212) 350-9900
              (Registrant's telephone number, including area code)

                                      None
              (Former name, former address and former fiscal year,
                         if changed since last report)


Indicate by checkmark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                                  Yes X No



<PAGE>

                            HIGH CASH PARTNERS, L.P.

                           FORM 10-Q - MARCH 31, 2000

                                      INDEX


PART I - FINANCIAL INFORMATION

   ITEM 1 - FINANCIAL STATEMENTS

       BALANCE SHEETS - March 31, 2000 and December 31, 1999................1

       STATEMENTS OF OPERATIONS - For the three months ended
                March 31, 2000 and 1999.....................................2

       STATEMENT OF PARTNERS' DEFICIT - For the three months
                ended March 31, 2000........................................3

       STATEMENTS OF CASH FLOWS - For the three months
                ended March 31, 2000 and 1999...............................4

       NOTES TO FINANCIAL STATEMENTS........................................5

   ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                CONDITION AND RESULTS OF OPERATIONS.........................7


PART II - OTHER INFORMATION

   ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K...............................10

SIGNATURES.................................................................11


<PAGE>


PART I - FINANCIAL INFORMATION

     This report contains statements that constitute  forward-looking statements
within the  meaning of the  Private  Securities  Litigation  Reform Act of 1995.
Those  statements  appear in a number of places  herein and  include  statements
regarding  the  intent,  belief  or  current  expectations  of the  Partnership,
primarily with respect to the future operating performance of the Partnership or
related developments.  Any such forward-looking statements are not guarantees of
future performance and involve risks and  uncertainties,  and actual results and
developments may differ from those described in the  forward-looking  statements
as a result of various  factors,  many of which are  beyond  the  control of the
Partnership.


ITEM 1 - FINANCIAL STATEMENTS

                            HIGH CASH PARTNERS, L.P.

                                 BALANCE SHEETS

                                                     March 31,     December 31,
                                                       2000            1999
ASSETS
         Real estate, net ......................   $ 14,961,277    $ 15,040,394
         Cash and cash equivalents .............        640,980         957,503
         Tenant receivables, net ...............         45,823          66,632
         Other assets ..........................         96,881          99,967
         Prepaid real estate taxes .............         56,966            --
         Prepaid insurance premiums ............         18,222          28,136
                                                   $ 15,820,149    $ 16,192,632
LIABILITIES AND PARTNERS' EQUITY


Liabilities
         Mortgage loan payable .................   $  6,500,000    $  6,500,000
         Deferred interest payable .............     16,056,182      15,435,131
         Accounts payable and accrued expenses .         53,300          69,681
         Due to affiliates .....................          1,711           1,542
         Tenants' security deposits payable ....         68,129          68,867
                                                   $ 22,679,322    $ 22,075,221
Commitments and contingencies

Partners' deficit
         Limited partners' deficit (96,472 units
         issued and outstanding) ...............     (6,790,576)     (5,823,761)
         General partners' deficit .............        (68,597)        (58,828)
            Total partners' deficit ............     (6,859,173)     (5,882,589)

                                                   $ 15,820,149    $ 16,192,632

See notes to financial statements.


<PAGE>


                            HIGH CASH PARTNERS, L.P.

                            STATEMENTS OF OPERATIONS


                                         For the three months ended
                                                 March 31,
                                             2000          1999
Revenues
      Rental income ....................   $ 659,905    $ 554,784
      Interest income ..................       7,107       43,140
      Other income .....................        --         10,741
                                             667,012      608,665
Costs and expenses
      Mortgage loan interest ...........     621,051      555,426
      Operating ........................     118,804      135,359
      Depreciation and amortization ....      90,824       90,169
      Partnership management fees ......      75,369       75,369
      Property management fees .........      20,817       17,570
      Administrative ...................      17,055       23,017
                                             943,920      896,910

Net loss                                   $(276,908)   $(288,245)
Net loss attributable to
      Limited partners .................   $(274,139)   $(285,363)
      General partners .................      (2,769)      (2,882)
                                           $(276,908)   $(288,245)
Net loss per unit of limited partnership
   interest (96,472 units outstanding) .   $   (2.84)   $   (2.96)



See notes to financial statements.


<PAGE>


                            HIGH CASH PARTNERS, L.P.

                         STATEMENT OF PARTNERS' DEFICIT


                                         General       Limited         Total
                                         Partners'     Partners'      Partners'
                                         Deficit       Deficit        Deficit

Balance, January 1, 2000 ..........   $   (58,828)   $(5,823,761)   $(5,882,589)

Net loss for the three months ended
 March 31, 2000 ...................        (2,769)      (274,139)      (276,908)

Distributions .....................        (7,000)      (692,676)      (699,676)
Balance, March 31, 2000 ...........   $   (68,597)   $(6,790,576)   $(6,859,173)



See notes to financial statements.


<PAGE>


                            HIGH CASH PARTNERS, L.P.

                            STATEMENTS OF CASH FLOWS


                                                     For the three months ended
                                                             March 31,
                                                      2000               1999
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

Cash flows from operating activities
   Net loss                                           $  (276,908)   $ (288,245)
   Adjustments to reconcile net loss to net cash
       provided by operating activities
          Deferred interest expense                       621,051       555,426
          Depreciation and amortization                    90,824        90,169
   Changes in operating assets and liabilities
          Tenant receivables                               20,809        (1,670)
          Other assets                                     (8,621)       (8,741)
          Prepaid real estate taxes                       (56,966)      (63,626)
          Prepaid insurance premiums                        9,914         6,307
          Accounts payable and accrued expenses           (16,381)       (8,562)
          Deferred revenue                                   --          35,000
          Due to affiliates                                   169         2,661
          Tenants' security deposits payable                 (738)           --

          Net cash provided by operating activities       383,153        318,719

Cash flows from financing activities
      Distributions to partners                          (699,676)           --

Net (decrease) increase in cash and cash equivalents     (316,523)       318,719

Cash and cash equivalents, beginning of period            957,503      4,270,688

Cash and cash equivalents, end of period              $   640,980    $ 4,589,407





  See notes to financial statements.


<PAGE>


                            HIGH CASH PARTNERS, L.P.

                          NOTES TO FINANCIAL STATEMENTS



1.   INTERIM FINANCIAL INFORMATION

     The  summarized  financial   information  contained  herein  is  unaudited;
     however, in the opinion of management,  all adjustments (consisting only of
     normal  recurring  accruals)  necessary  for a fair  presentation  of  such
     financial  information  have  been  included.  The  accompanying  financial
     statements,  footnotes and discussions  should be read in conjunction  with
     the financial  statements,  related footnotes and discussions  contained in
     the High Cash Partners, L.P. (the "Partnership") annual report on Form 10-K
     for the year ended  December 31, 1999.  The results of  operations  for the
     three months  ended March 31, 2000 are not  necessarily  indicative  of the
     results to be expected for the full year.


2.   CHANGE IN GENERAL PARTNER OWNERSHIP, CONFLICTS OF INTEREST AND TRANSACTIONS
     WITH RELATED PARTIES

     On June 13, 1997,  Resources High Cash, Inc. ("RHC") and Presidio AGP Corp.
     ("AGP") sold their  general  partnership  interests in the  Partnership  to
     Pembroke HCP LLC ("Pembroke HCP") and Pembroke AGP Corp.  ("Pembroke AGP"),
     respectively.  In the same  transaction,  XRC Corp.,  the parent company of
     RHC,  sold its 8,361 Units to Pembroke  Capital  II, LLC, an  affiliate  of
     Pembroke  HCP and  Pembroke  AGP.  Subsequently,  Pembroke  Capital  II LLC
     acquired beneficial  ownership of an aggregate of an additional 5,752 Units
     in the secondary market.

     Prior to the sale of the general partnership interest in the Partnership to
     Pembroke  HCP and  Pembroke  AGP,  Wexford  Management  LLC  had  performed
     management and administrative  services for Presidio,  XRC and XRC's direct
     and indirect  subsidiaries,  as well as for the Partnership.  Following the
     sale,  an affiliate  of Pembroke HCP was engaged to perform  administrative
     services for the Partnership.  During the quarters ended March 31, 2000 and
     March 31, 1999, $12,000 and $9,000,  respectively,  in reimbursable payroll
     expenses were paid to the affiliate of Pembroke HCP for services  performed
     during the quarter.

     The Partnership had been a party to a supervisory management agreement with
     Resources  Supervisory  Management  Corp.  ("Resources  Supervisory"),   an
     affiliate of RHC and AGP, pursuant to which Resources Supervisory performed
     certain property management functions. Resources Supervisory performed such
     services  through June 13, 1997.  Effective June 13, 1997, the  Partnership
     terminated  this  agreement  and  entered  into a  similar  agreement  with
     Pembroke  Realty  Management  LLC  ("Pembroke  Realty"),  an  affiliate  of
     Pembroke HCP and Pembroke  AGP. A portion of the property  management  fees
     payable  to  Resources  Supervisory  and  Pembroke  Realty  were paid to an
     unaffiliated  management company, which had been engaged for the purpose of
     performing the property  management  functions that were the subject of the
     supervisory management agreement. For the quarters ended March 31, 2000 and
     1999, Pembroke



<PAGE>


2.   CHANGE IN GENERAL PARTNER OWNERSHIP, CONFLICTS OF INTEREST AND TRANSACTIONS
     WITH RELATED PARTIES (continued)

     Realty was entitled to receive $20,817 and $17,570,  respectively, of which
     $15,613 and $14,642,  respectively,  was payable to unaffiliated management
     companies. No leasing activity compensation was paid to Pembroke Realty for
     the quarters  ended March 31, 2000 or 1999.  Current fees of $1,711 payable
     to Pembroke Realty at March 31, 2000 were paid in the subsequent quarter.

     For managing the affairs of the  Partnership,  the Managing General Partner
     is entitled to an annual partnership  management fee equal to $301,475. For
     each of the quarters  ended March 31, 2000 and 1999,  the Managing  General
     Partner was entitled to a partnership management fee of $75,369.

     The general  partners  are  allocated 1% of the net income or losses of the
     Partnership,  which amounted to losses of $2,769 and $2,882 in the quarters
     ended  March 31,  2000 and 1999,  respectively.  They also are  entitled to
     receive 1% of distributions.


3.   REAL  ESTATE

     Real  estate,  which is the  Partnership's  sole asset,  is  summarized  as
     follows:

                                                March 31,        December 31,
                                                  2000                1999

          Land                               $    6,667,189     $    6,667,189
          Building and improvements              12,940,226         12,940,225
                                                 19,607,415         19,607,415
          Accumulated depreciation               (4,646,138)        (4,567,021)

                                             $   14,961,277     $   15,040,394




     The land,  building and improvements that comprise the  Partnership's  sole
     asset are collateralized by a mortgage loan payable.


<PAGE>


4.       DUE TO AFFILIATES

     The amounts due to affiliates are as follows:

                                                 March 31,     December 31,
                                                    2000          1999

          Supervisory Management Fee            $   1,711     $   1,542


5.   DISTRIBUTIONS

     In January 2000, the Partnership  declared and paid a cash  distribution of
     approximately $700,000 in the aggregate,  or $7.18 per Unit, to Unitholders
     of record on January 1, 2000.


ITEM 2- MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

Liquidity and Capital Resources

     The Partnership's  sole property is a community  shopping center located in
     Reno, Nevada containing  approximately  233,000 square feet of net leasable
     area.

     The  Partnership  uses  working  capital  reserves  set aside  from the net
     proceeds of its public  offering in 1989 and  undistributed  cash flow from
     operations  as its  primary  measure of  liquidity.  As of March 31,  2000,
     working capital reserves amounted to approximately  $707,000,  which may be
     used to fund capital  expenditures,  insurance,  real estate taxes and loan
     payments.  All  expenditures  made during the quarter  ended March 31, 2000
     were funded from cash flow from operations.

     At March  31,  2000,  the total  amount  outstanding  on the  Partnership's
     mortgage loan payable to Resources Accrued Mortgage  Investors 2 L.P. ("RAM
     2")  was  $22,556,182,   which  included   deferred   interest  payable  of
     $16,056,182. The mortgage did not permit a prepayment before March 1, 1999,
     and,  therefore,  the  Partnership  was not able to refinance  the mortgage
     before that date. The mortgage  matures on February 28, 2001. At that time,
     the  total   amount   outstanding   on  the  mortgage  is  expected  to  be
     approximately  $25,000,000.  If the value of the property at that time does
     not exceed  $25,000,000,  the Partnership may lose its entire investment in
     the property.  In that connection,  in the first quarter of 1997, the value
     of  the  property  was  written  down  to  $15,875,000.   At  present,  the
     Partnership  believes that, unless conditions change materially,  the value
     of the  Property  at  February  28,  2001 will be  significantly  less than
     $25,000,000.

     The  mortgage  further  requires  the  Partnership  to provide RAM 2 with a
     current appraisal of the Partnership's property upon RAM 2's request. If it
     is determined,  based upon the requested appraisal, that the sum of (i) the
     principal  balance of the  mortgage  loan plus all other  then  outstanding
     indebtedness  secured  by the  property  and (ii) all  accrued  and  unpaid
     interest on the mortgage at 6.22% per annum,  compounded monthly (that sum,
     the  "Measurement  Amount"),  exceeds 85% of the appraised value, an amount
     equal to such excess would become immediately due and payable to RAM 2.

<PAGE>


     To date,  the  lender  has not  requested  an  appraisal.  There  can be no
     assurance that, if the lender  requests an appraisal,  85% of the appraised
     value will equal the Measurement Amount. At March 31, 2000, the Measurement
     Amount was approximately $12,973,000, which was approximately $521,000 less
     than 85% of the $15,875,000 value to which the Property was written down in
     the first  quarter  of 1997.  As  interest  on the  mortgage  accrues,  the
     Measurement Amount will increase,  and, therefore,  unless the value of the
     Property is shown to be greater than the value to which it was written down
     in the first quarter of 1997, the Measurement Amount will exceed 85% of the
     appraised value of the Property during the year 2000.

     Management is evaluating its  alternatives  with respect to the RAM 2 loan.
     Such  alternatives  are  limited  due to the fact  that the  principal  and
     deferred  interest on the RAM 2 loan  significantly  exceed the fair market
     value of the Property.  There can be no assurance that the Partnership will
     be successful in pursuing any of its  alternatives.  If the  Partnership is
     not successful in pursuing any of its  alternatives,  the Partnership  will
     likely  lose  its  entire  interest  in  the  Property.  The  Partnership's
     financial  statements do not include any adjustments that might result from
     the outcome of this uncertainty.

     Until November 1997, Levitz Furniture  Corporation  ("Levitz") had occupied
     approximately  23%  of  the  space  of the  Partnership's  property  (i.e.,
     approximately  53,000  out of  approximately  233,000  square  feet  of net
     leasable  area). In November 1997,  Levitz,  which had filed for protection
     under Chapter 11 of the Bankruptcy Code,  vacated its space.  Levitz ceased
     paying rent to the Partnership as of April 2, 1998.

     The  vacancy at the Levitz  space has  resulted  in a loss of income to the
     Partnership.  The vacancy at the Levitz  space,  as well as a vacancy in an
     additional,  significant  space previously  occupied by Good Guys, also may
     have  adversely  affected  the  surrounding  tenants and the  Partnership's
     ability  to  attract  new  tenants,  particularly  in light of the  limited
     visibility  those tenants have to the main  thoroughfare.  See "Real Estate
     Market"  below.   The   Partnership   is  actively   seeking  a  long-term,
     creditworthy  substitute  tenant.  However,  there can be no assurance  the
     Partnership  will succeed in finding a long-term,  creditworthy  substitute
     tenant promptly or on terms  comparable to those under the Levitz lease. In
     addition,  if a substitute  tenant is obtained,  the  Partnership  would be
     required to make substantial expenditures in order to secure the substitute
     tenant and in connection with a new lease.

     During 1999, the Partnership entered into a short-term lease for the Levitz
     space with a then existing  tenant at an annual rent  materially  less than
     under the Levitz lease.  The  Partnership  has the right to terminate  this
     lease  upon  written  notice,  in  the  event  the  Partnership  secures  a
     long-term, creditworthy tenant for the space.

     The level of leasing activity cannot be predicted, particularly in light of
     the Levitz and Good Guys situations,  and, therefore, the amount of further
     capital expenditures arising from leasing activity is uncertain.  There can
     be no assurance the Partnership will have sufficient liquidity both to make
     such capital  expenditures,  and to make the payments  that may be required
     under the terms of the RAM 2 loan. If there is a default on the RAM 2 loan,
     the Partnership would be materially and adversely affected.

     In January 2000, the Partnership  declared and paid a cash  distribution of
     approximately   $7,000,000  in  the  aggregate,   or  $7.18  per  Unit,  to
     Unitholders of record on January 1, 2000.

<PAGE>

     Real Estate Market

     A  substantial  decline in the market value of the  Partnership's  property
     reflects  real estate  market  conditions  in the vicinity of the property.
     Recently built shopping centers in the vicinity have increased  competition
     for tenants.  This competitive factor,  together with the fact that much of
     the unleased  space in the  Partnership's  property  (including  the Levitz
     space) has only limited  visibility to the main  thoroughfare  and the fact
     that the space  occupied  by Levitz is  expected  to be vacant for at least
     some period,  have  hindered the  lease-up of new space.  As a result,  the
     Partnership's investment in its property is at risk.

     Inflation

     Inflation has not had a material impact on the Partnership's  operations or
     financial  condition in recent years and is not expected to have a material
     impact in the foreseeable future.

     Results of Operations

     Three Months Ended March 31, 2000  Compared to Three Months Ended March 31,
     1999

     The  Partnership  realized a net loss of $276,908  ($2.84 per Unit) for the
     three months ended March 31, 2000 compared to a net loss of $288,245 ($2.96
     per Unit) for the  corresponding  1999  period,  a change of  $11,337.  The
     change was  primarily a result of an increase in rental  income,  partially
     offset by an increase in mortgage loan interest expense.

     Revenues  increased  from 1999 to 2000 due to  increases  in base  rentals,
     primarily due to the signing of new leases.

     Costs and expenses increased from 1999 to 2000 primarily due to an increase
     in  mortgage  loan  interest  expense,  partially  offset by  decreases  in
     operating and administrative expenses.

     Mortgage loan interest expense increased due to the compounding effect from
     the deferral of the interest expense on the zero coupon mortgage.


<PAGE>

PART II - OTHER INFORMATION

ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K

         (a)  Exhibits:  None

         (b)  Reports on Form 8-K:  None.


<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 thereunto duly authorized.



                               HIGH CASH PARTNERS, L.P.

                               By:      Pembroke HCP, LLC
                                        Managing General Partner





                               By:      Pembroke Companies, Inc.,
                                        Managing Member



Dated:  May 11, 2000           By:  /s/ Lawrence J. Cohen
                                    ---------------------
                                    Lawrence J. Cohen
                                    President and Principal
                                    Financial and Accounting Officer