--------------------------------------------------------------------------------

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

                                    FORM 10-Q

                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                                       OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended September 30, 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
                               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 - SEPTEMBER 30, 2000

                                      INDEX



PART I - FINANCIAL INFORMATION

     ITEM 1 - FINANCIAL STATEMENTS

          BALANCE SHEETS - September 30, 2000 and December 31, 1999............1

          STATEMENTS OF OPERATIONS - For the three and nine months ended
              September 30, 2000 and 1999......................................2

          STATEMENT OF PARTNERS' DEFICIT - For the nine months ended
              September 30, 2000...............................................3

          STATEMENTS OF CASH FLOWS - For the nine months ended
              September 30, 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


                                               September 30,
                                                   2000        December 31, 1999
                                               (unaudited)            1999
                                             ----------------  -----------------
ASSETS
      Real estate, net                       $ 14,802,322      $ 15,040,394
      Cash and cash equivalents                   687,291           957,503
      Tenant receivables, net                      66,358            66,632
      Other assets                                 84,920            99,967
      Prepaid insurance premiums                   45,196            28,136
                                             ----------------  -----------------
                                             $ 15,686,087      $ 16,192,632
                                             ================  =================

LIABILITIES AND PARTNERS' DEFICIT

Liabilities
      Mortgage loan payable                  $  6,500,000      $  6,500,000
      Deferred interest payable                17,344,249        15,435,131
      Accounts payable and accrued expenses        41,352            69,681
      Due to affiliates                                --             1,542
      Tenants' security deposits payable           68,129            68,867
                                             ----------------  -----------------
                                                23,953,730       22,075,221

Commitments and contingencies

Partners' deficit
      Limited partners' deficit (96,472
         units issued and outstanding)         (8,184,964)       (5,823,761)
      General partners' deficit                   (82,679)          (58,828)
                                             ----------------  -----------------
         Total partners' deficit               (8,267,643)       (5,882,589)
                                             ----------------  -----------------

                                             $ 15,686,087      $ 16,192,632
                                             ================  =================

See notes to financial statements


<PAGE>


                            HIGH CASH PARTNERS, L.P.

                            STATEMENTS OF OPERATIONS

                                   (unaudited)



<TABLE>
<CAPTION>

                                               For the three months ended                For the nine months ended
                                                     September 30,                             September 30,
                                          ------------------------------------      ------------------------------------
                                               2000                 1999                 2000                 1999
                                          ------------------------------------      ------------------------------------
<S>                                      <C>                   <C>                 <C>                  <C>
Revenues
    Rental income                         $    648,353         $    632,781         $  1,955,768         $  1,811,943
    Interest income                              7,652               10,760               22,802               79,722
    Other income                                    --                  186                   --               10,926
                                          ---------------      ---------------      ---------------      ---------------
                                               656,005              643,727            1,978,570            1,902,591
                                          ---------------      ---------------      ---------------      ---------------

Costs and expenses
    Mortgage loan interest                     656,516              587,143            1,909,118            1,707,385
    Operating                                  121,285              118,337              366,567              383,275
    Depreciation and amortization               91,071               90,169              269,965              270,507
    Partnership management fees                 75,369               75,369              226,107              226,107
    Property management fees                    18,179               17,168               58,653               52,752
    Administrative                              36,273               22,958               83,211               76,168
                                          ---------------      ---------------      ---------------      ---------------
                                               998,693              911,144            2,913,621            2,716,194
                                          ---------------      ---------------      ---------------      ---------------

Net loss                                  $  (342,688)         $  (267,417)         $  (935,051)         $  (813,603)
                                          ===============      ===============      ===============      ===============

Net loss attributable to
    Limited partners                       $ (339,261)         $  (264,743)         $  (925,700)         $  (805,467)
    General partners                           (3,427)              (2,674)              (9,351)              (8,136)
                                          ---------------      ---------------      ---------------      -----------------
                                           $ (342,688)         $  (267,417)         $  (935,051)         $  (813,603)
                                          ===============      ===============      ===============      ===============
Net loss per unit of limited
partnership interest (96,472 units
outstanding)                               $    (3.52)         $     (2.74)          $     (9.60)        $     (8.35)
                                          ---------------      ---------------      ---------------      -----------------
</TABLE>




See notes to financial statements.


                                       2

<PAGE>


                            HIGH CASH PARTNERS, L.P.

                         STATEMENT OF PARTNERS' DEFICIT

                                   (unaudited)


<TABLE>
<CAPTION>

                                      General Partners'    Limited Partners'    Total Partners'
                                          Deficit              Deficit              Deficit
                                      -----------------    -----------------    ----------------
<S>                                    <C>                <C>                  <C>
Balance, January 1, 2000                $  (58,828)        $  (5,823,761)       $  (5,882,589)

Net loss for the nine months
ended September 30, 2000                    (9,351)             (925,700)            (935,051)

Distributions to partners                  (14,500)           (1,435,503)          (1,450,003)
                                      -----------------    -----------------    ----------------
Balance, September 30, 2000             $  (82,679)        $  (8,184,964)       $  (8,267,643)
                                      =================    =================    ================

</TABLE>


                                       3



See notes to financial statements.


<PAGE>


                            HIGH CASH PARTNERS, L.P.

                             STATEMENT OF CASH FLOWS

                                   (unaudited)


<TABLE>
<CAPTION>


                                                                     For the nine months ended
                                                                           September 30,
                                                                  --------------------------------
                                                                       2000              1999
                                                                  --------------    --------------
<S>                                                              <C>               <C>


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

Cash flows from operating activities
    Net loss                                                      $  (935,051)      $  (813,603)
    Adjustments to reconcile net loss to net
        cash provided by operating
                  Deferred interest expense                         1,909,118         1,707,385
                  Depreciation and amortization                       269,965           270,507
    Changes in operating assets and liabilities
                  Tenant receivables                                      274           (34,126)
                  Other assets                                        (16,846)          (13,465)
                  Prepaid insurance premiums                          (17,060)           26,444
                  Accounts payable and accrued expenses               (28,329)          (17,194)
                  Due to affiliates                                    (1,542)            2,861
                  Tenants' security deposits payable                     (738)           10,000
                                                                  --------------    --------------
                  Net cash provided by operating activities         1,179,791         1,138,809
                                                                  --------------    --------------
Cash flows from financing activities
    Distributions to partners                                      (1,450,003)       (4,100,000)
                                                                  --------------    --------------

Net decrease in cash and cash equivalents                            (270,212)       (2,961,191)

Cash and cash equivalents, beginning of period                        957,503         4,270,688
                                                                  --------------    --------------
Cash and cash equivalents, end of period                          $   687,291      $  1,309,497
                                                                  ==============    ==============

</TABLE>





See notes to financial statements.

                                       4

<PAGE>


                            HIGH CASH PARTNERS, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                   (unaudited)



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
     nine months ended September 30, 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 5,807 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 September 30, 2000
     and 1999,  $12,000  and  $12,000,  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  was  paid to an
     unaffiliated  local  management  company,  which had been  engaged  for the
     purpose of performing  the local  property  management  functions.  For the
     quarters ended September 30, 2000 and 1999, Pembroke Realty was entitled to
     receive $18,179 and


                                       5

<PAGE>

     $17,168,  respectively,  of which  $13,634 and $14,307,  respectively,  was
     payable  to  unaffiliated   management   companies.   No  leasing  activity
     compensation  was paid to Pembroke  Realty for the quarters ended September
     30, 2000 or 1999.

     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  September  30,  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 $3,427 and $2,674 in the quarters
     ended September 30, 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:


                                    September 30, 2000
                                       (unaudited)             December 31, 1999
                                    --------------------      ------------------
     Land                            $   6,667,189              $   6,667,189
     Building and improvements          12,940,226                 12,940,226
                                        19,607,415                 19,607,415
     Accumulated depreciation           (4,805,093)                (4,567,021)
                                    --------------------      ------------------
                                     $  14,802,322              $  15,040,394
                                    ====================      ==================

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

4.   DUE TO AFFILIATES

     The amounts due to affiliates are as follows:


                                    September 30, 2000
                                       (unaudited)             December 31, 1999
                                    --------------------      ------------------
     Supervisory Management Fee      $          --              $       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.  In May 2000,  the  Partnership  declared and
     paid a cash  distribution of  approximately  $750,000 in the aggregate,  or
     $7.70 per Unit, to Unitholders of record on May 30, 2000.



                                       6

<PAGE>


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 and  undistributed  cash flow
     from  operations as its primary  measure of liquidity.  As of September 30,
     2000,  working capital reserves amounted to approximately  $757,000,  which
     may be used to fund capital expenditures,  insurance, real estate taxes and
     loan payments. All expenditures made during the quarter ended September 30,
     2000 were funded from operations.

     At September 30, 2000, the total amount  outstanding  on the  Partnership's
     mortgage loan payable to Resources Accrued Mortgage  Investors 2 L.P. ("RAM
     2")  was  $23,844,249,   which  included   deferred   interest  payable  of
     $17,344,249. 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  loan matures on February 28, 2001. At that
     time,  the total amount  outstanding on the mortgage loan is expected to be
     approximately   $25,000,000.   The  Partnership  does  not  presently  have
     sufficient  funds to repay the mortgage  loan. 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.  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.

     To date,  RAM 2 has not requested an  appraisal.  There can be no assurance
     that, if RAM 2 requests an appraisal, 85% of the appraised value will equal
     the Measurement  Amount. At September 30, 2000, the Measurement  Amount was
     approximately  $13,381,000,  which was approximately $113,000 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
     appraised  at a value  greater  than its carrying  value,  the  Measurement
     Amount will exceed 85% of the  appraised  value of the Property  during the
     fourth quarter of 2000.

     Management has entered into  negotiations  with RAM 2 concerning a possible
     extension of the maturity date of the loan, and additionally,  continues to
     evaluate its alternatives  with respect to this loan. Such alternatives are
     limited due to the fact that the  principal  and  deferred  interest on the
     mortgage loan significantly  exceeds the fair market value of the Property.
     There  can be no  assurance  that the  Partnership  will be  successful  in
     extending  the maturity date of the mortgage loan or in pursuing any of its
     alternatives.  If the  Partnership is not successful in pursuing any of its
     alternatives,  the Partnership  will


                                       7

<PAGE>



     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 mortgage loan. If there is a default on the mortgage
     loan, the Partnership would be materially and adversely affected.

     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.  In May 2000,  the  Partnership  declared and
     paid a cash  distribution of  approximately  $750,000 in the aggregate,  or
     $7.70 per Unit, to Unitholders of record on May 30, 2000.

     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  previously  occupied  by Good  Guys is vacant  and is being
     marketed for sublet by Good Guys,  have hindered the lease-up of new space.
     As a result, the Partnership's investment in its property is at risk.

     Inflation

                                       8



<PAGE>

     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  September  30, 2000  Compared to Three  Months  Ended
     September 30, 1999

     The  Partnership  realized a net loss of $342,688  ($3.52 per Unit) for the
     three months ended  September  30, 2000  compared to a net loss of $267,417
     ($2.74 per Unit) for the  corresponding  1999 period,  an increased loss of
     $75,271.  The  increased  loss was  primarily  a result of 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.

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

     Nine  Months  Ended  September  30,  2000  Compared  to Nine  Months  Ended
     September 30, 1999

     The  Partnership  realized a net loss of $935,051  ($9.60 per Unit) for the
     nine months  ended  September  30, 2000  compared to a net loss of $813,603
     ($8.35 per Unit) for the  corresponding  1999 period,  an increased loss of
     $121,448.  The  increased  loss was  primarily  a result of an  increase in
     mortgage loan interest  expense,  partially offset by an increase in rental
     income.

     Revenues  increased  from 1999 to 2000 due to  increases  in base  rentals,
     primarily  due to the signing of new leases.  The increase in rental income
     was  partially  offset  by  a  decrease  in  interest  income  due  to  the
     distributions made by the Partnership.

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

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


                                       9


<PAGE>


PART II - OTHER INFORMATION

ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibit

          27      Financial Data Schedule

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




                                       10


<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:  November 14, 2000                By:  /s/ Lawrence J. Cohen
                                              ---------------------
                                              President and Principal
                                              Financial and Accounting Officer


                                       11


<PAGE>