<PAGE>
 
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                   FORM 10-Q

                   QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                   -----------------------------------------

For Quarter Ended June 30, 1997                   Commission File Number 0-17807



                         COPLEY PENSION PROPERTIES VI;
                       A REAL ESTATE LIMITED PARTNERSHIP
             (Exact name of registrant as specified in its charter)


        Massachusetts                                    04-2988542
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
 incorporation or organization)

     225 Franklin Street, 25th Fl.
     Boston, Massachusetts                                  02110
(Address of principal executive offices)                  (Zip Code)

              Registrant's telephone number, including area code:
                                 (617) 261-9000


--------------------------------------------------------------------------------
Former name, former address and former fiscal year if changed since last report


     Indicate by check mark 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 twelve (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>
 
                         COPLEY PENSION PROPERTIES VI;
                       A REAL ESTATE LIMITED PARTNERSHIP

                                   FORM 10-Q


                        FOR QUARTER ENDED JUNE 30, 1997

                                     PART I


                             FINANCIAL INFORMATION
                                        
<PAGE>
 
BALANCE SHEETS
(Unaudited)

<TABLE>
<CAPTION>

                                           June 30, 1997   December 31, 1996
                                           -------------   -----------------
<S>                                        <C>             <C>  
ASSETS
 
Real estate investments:
 Joint ventures                              $15,240,872         $15,479,056
 Property, net                                 8,278,828           8,350,231
                                             -----------         -----------
                                              23,519,700          23,829,287
 
Cash and cash equivalents                      3,927,409           3,076,103
Short-term investments                         1,260,485           2,194,290
                                             -----------         -----------
                                             $28,707,594         $29,099,680
                                             ===========         ===========
 
LIABILITIES AND PARTNERS' CAPITAL
 
Accounts payable                             $    87,161         $    86,347
Accrued management fee                            51,517              51,517
Deferred disposition fees                        582,677             582,677
                                             -----------         -----------
Total liabilities                                721,355             720,541
                                             -----------         -----------
 
Partners' capital (deficit):
 Limited partners ($768.98
   per unit; 160,000 units authorized,
   48,788 units issued and outstanding)       28,026,332          28,415,303
 General partners                                (40,093)            (36,164)
                                             -----------         -----------
Total partners' capital                       27,986,239          28,379,139
                                             -----------         -----------
                                             $28,707,594         $29,099,680
                                             ===========         ===========
</TABLE>


               (See accompanying notes to financial statements)
<PAGE>
 
 
STATEMENTS OF OPERATIONS
 (Unaudited)            

<TABLE>
<CAPTION>
                        
                                        Quarter Ended     Six Months Ended     Quarter Ended     Six Months Ended  
                                        June 30, 1997      June 30, 1997       June 30, 1996      June 30, 1996    
                                        -------------     ----------------     -------------     ----------------  
<S>                                     <C>               <C>                  <C>               <C>               
INVESTMENT ACTIVITY

Property rentals                          $  195,744           $  415,032        $  172,195          $   389,842
Property operating expenses                  (94,679)            (197,502)          (94,740)            (212,256)
Depreciation and amortization                (75,763)            (151,494)          (71,634)            (142,971)
                                          ----------           ----------        ----------          -----------  
                                              25,302               66,036             5,821               34,615
 
Joint venture earnings                       303,545              657,539           245,138              514,949
                                          ----------           ----------        ----------          -----------  
 
   Total real estate activity                328,847              723,575           250,959              549,564
                                          ----------           ----------        ----------          -----------  
 
Interest on cash equivalents
   and short-term investments                 68,581              134,633            65,058              132,768
                                          ----------           ----------        ----------          -----------  
   Total investment activity                 397,428              858,208           316,017              682,332
                                          ----------           ----------        ----------          -----------  
 
PORTFOLIO EXPENSES
 
Management fee                                51,517              103,034            51,518              103,035
General and administrative                    57,395              106,278            56,528              107,799
                                          ----------           ----------        ----------          -----------  
                                             108,912              209,312           108,046              210,834
                                          ----------           ----------        ----------          -----------  
 
Net income                                $  288,516           $  648,896        $  207,971              471,498
                                          ==========           ==========        ==========          ===========  
 
Net income per limited
   partnership unit                       $     5.86           $    13.17        $     4.22          $      9.57
                                          ==========           ==========        ==========          ===========  
</TABLE> 
<PAGE>
 
STATEMENTS OF OPERATIONS 
 (Unaudited)             

<TABLE> 
<CAPTION> 


                                        Quarter Ended     Six Months Ended     Quarter Ended     Six Months Ended 
                                        June 30, 1997      June 30, 1997       June 30, 1996      June 30, 1996    
                                        -------------     ----------------     -------------     ----------------  
<S>                                     <C>               <C>                  <C>               <C>                 
Cash distributions per limited
   partnership unit                       $    10.57           $    21.14        $    10.57          $     23.07
                                          ==========           ==========        ==========          ===========  
 
 Number of limited partnership units
   outstanding during the period              48,788               48,788            48,788               48,788
                                          ==========           ==========        ==========          ===========  
</TABLE>
               (See accompanying notes to financial statements)
<PAGE>
 
STATEMENTS OF PARTNERS' CAPITAL (DEFICIT)
(Unaudited)

<TABLE>
<CAPTION>
                             Quarter Ended            Six Months Ended           Quarter Ended              Six Months Ended
                             June 30, 1997             June 30, 1997             June 30, 1996               June 30, 1996
                       ------------------------   ------------------------   -----------------------    -------------------------
                        General      Limited      General       Limited      General       Limited       General       Limited
                       Partners      Partners     Partners      Partners     Partners      Partners      Partners      Partners
                       ---------   ------------   ---------   ------------   ---------   ------------   ----------   ------------ 
<S>                    <C>         <C>            <C>         <C>            <C>         <C>            <C>          <C>
                       
 Balance at beginning  
   of period           $ (37,769)  $ 28,256,390   $ (36,164)  $ 28,415,303   $ (29,763)  $ 29,048,990   $  (26,238)  $ 29,397,948
                       
 Cash distributions       (5,209)      (515,689)    (10,418)    (1,031,378)     (5,209)      (515,689)     (11,369)    (1,125,539)
                       
 Net income                2,885        285,631       6,489        642,407       2,080        205,891        4,715        466,783
                       ---------   ------------   ---------   ------------   ---------   ------------   ----------   ------------ 
                       
 Balance at end        
   of period           $ (40,093)  $ 28,026,332   $ (40,093)  $ 28,026,332   $ (32,892)  $ 28,739,192   $  (32,892)  $ 28,739,192
                       =========   ============   =========   ============   =========   ============   ==========   ============
</TABLE>



               (See accompanying notes to financial statements)
<PAGE>
 
SUMMARIZED STATEMENTS OF CASH FLOWS
(Unaudited)

<TABLE>
<CAPTION>
                                               Six Months Ended June 30,
                                                 1997            1996
                                              -----------    -----------
 
<S>                                          <C>             <C>
                                                          
Net cash provided by operating activities    $    976,073   $    889,048
                                              -----------    -----------
                                                          
Cash flows from investing activities:                     
 Investment in property                                 -       (127,703)
 Decrease in short-term                                   
  investments, net                                917,029        716,250
                                              -----------    -----------
                                                          
Net cash provided by                                      
 investing activities                             917,029        588,547
                                              -----------    -----------
                                                          
Cash flows from financing activity:                       
 Distributions to partners                     (1,041,796)    (1,136,908)
                                              -----------    -----------
                                                          
Net increase in cash                                      
 and cash equivalents                             851,306        340,687
                                                          
Cash and cash equivalents:                                
 Beginning of period                            3,076,103      2,997,934
                                              -----------    -----------
                                                          
 End of period                               $  3,927,409   $  3,338,621
                                              ===========    ===========
</TABLE> 

                (See accompanying notes to financial statements)
<PAGE>
 
NOTES TO FINANCIAL STATEMENTS (Unaudited)

     In the opinion of management, the accompanying unaudited financial
statements contain all adjustments necessary to present fairly the Partnership's
financial position as of June 30, 1997 and December 31, 1996 and its operations,
its cash flows and partners' capital (deficit) for the interim periods ended
June 30, 1997 and 1996. These adjustments are of a normal recurring nature.

     See notes to financial statements included in the Partnership's 1996 Annual
Report on Form 10-K for additional information relating to the Partnership's
financial statements.

Note 1 - Organization and Business
----------------------------------

     Copley Pension Properties VI; A Real Estate Limited Partnership (the
"Partnership") is a Massachusetts limited partnership organized for the purpose
of investing primarily in newly constructed and existing income producing real
properties.  It primarily serves as an investment for qualified pension and
profit sharing plans and other organizations intended to be exempt from federal
income tax.  The Partnership commenced operations in July 1988, and acquired the
five real estate investments it currently owns prior to the end of 1991.  It
intends to dispose of its investments within eight to twelve years of their
acquisition, and then liquidate.


Note 2 - Investments in Joint Ventures
--------------------------------------
     Summarized Financial Information

     The following summarized financial information is presented in the
aggregate for the Partnership's joint ventures:

                            Assets and Liabilities
                           ------------------------

<TABLE>
<CAPTION>
 
                                   June 30, 1997     December 31, 1996
                                   -------------     -----------------
<S>                                <C>               <C>
                                                
Assets                                          
 Real property, at cost less                    
   accumulated depreciation                     
   of $6,533,729 and $6,158,575                 
   respectively                    $  16,818,750         $  17,199,404
 Other                                   740,402               739,700
                                    ------------          ------------
                                      17,559,152            17,939,104
                                                
Liabilities                              161,652               235,655
                                    ------------          ------------
                                                
Net assets                         $  17,397,500         $  17,703,449
                                    ============          ============
</TABLE>
<PAGE>
 
                             Results of Operations
                             ---------------------

<TABLE>
<CAPTION>
 
                                   Six Months Ended June 30,
                                      1997          1996
                                   -----------  ------------
<S>                                <C>          <C>
Revenue:
  Rental income                     $1,908,905    $1,826,539
  Other income                           2,701         2,976
                                    ----------    ----------
                                     1,911,606     1,829,515
                                    ----------    ----------
 
Expenses:
  Operating expenses                   682,834       721,110
  Depreciation and amortization        382,923       447,288
                                    ----------    ----------
                                     1,065,757     1,168,398
                                    ----------    ----------
 
Net income                          $  845,849    $  661,117
                                    ==========    ==========
</TABLE>


  Liabilities and expenses exclude amounts owed and attributable to the
Partnership and (with respect to two investments) its affiliates on behalf of
their various financing arrangements with the joint ventures.


Note 3 - Property
-----------------

  The following is a summary of the Partnership's two wholly-owned properties:

<TABLE>
<CAPTION>
 
                                  June 30, 1997   December 31, 1996
                                  --------------  ------------------
<S>                               <C>             <C>
 
Land                                $ 3,408,203         $ 3,408,203
Buildings, improvements and
  other capitalized costs             8,869,989           8,869,433
Investment valuation allowance       (1,500,000)         (1,500,000)
Accumulated depreciation and
  amortization                       (2,475,170)         (2,330,843)
Net operating liabilities               (24,194)            (96,562)
                                    -----------         -----------
                                    $ 8,278,828         $ 8,350,231
                                    ===========         ===========
</TABLE>

  During the second quarter of 1995, as a result of a revision to long-term
rental assumptions, the managing general partner determined that the carrying
value of the Wilmington Industrial property would not be recovered through
expected future undiscounted cash flows. Accordingly, the carrying value was
reduced to estimated net fair market value through the recognition of an
investment valuation allowance of $1,500,000.
<PAGE>
 
Note 4 - Subsequent Event
-------------------------

  Distributions of cash from operations relating to the quarter ended June 30,
1997 were made on July 24, 1997 in the aggregate amount of $520,898 ($10.57 per
limited partnership unit).

  A purchase and sale agreement was executed for the sale of Stemmons Industrial
for an amount in excess of the current carrying value. The transaction is
expected to be completed during the third quarter of 1997.
<PAGE>
 
Management's Discussion and Analysis of Financial Condition and
---------------------------------------------------------------
Results of Operations
---------------------

Liquidity and Capital Resources

  The Partnership completed its offering of units of limited partnership
interest on December 31, 1988. A total of 48,788 units were sold. The
Partnership received proceeds of $43,472,858, net of selling commissions and
other offering costs, which have been used for investment in real estate and for
the payment of related acquisition costs, or retained as working capital
reserves. The Partnership made seven real estate investments; one was sold in
1990, and another in 1994. As a result of these sales, capital of $11,271,004
($231.02 per limited partnership unit) has been returned to the limited
partners.

  At June 30, 1997, the Partnership had $5,187,894 in cash, cash equivalents and
short-term investments, of which $520,898 was used for cash distributions to
partners on July 24, 1997; the remainder is being retained as working capital
reserves. The source of future liquidity and cash distributions to partners will
primarily be cash generated by the Partnership's short-term and real estate
investments, and proceeds from the sale of such investments. Based on an
adjusted capital contribution of $768.98 per limited partnership unit,
distributions of cash from operations relating to the first and second quarters
of 1997 and 1996 were made at the annualized rate of 5.5%.

  The carrying value of real estate investments in the financial statements is
at depreciated cost, or if the investment's carrying value is determined not to
be recoverable through expected undiscounted future cash flows, the carrying
value is reduced to estimated fair market value. The fair market value of such
investments is further reduced by the estimated cost of sale for properties held
for sale. Carrying value may be greater or less than current appraised value. At
June 30, 1997, the carrying value of one investment exceeded its appraised value
by approximately $250,000. The appraised value of each of the other investments
exceeded their related carrying values by an aggregate of approximately
$6,026,000. The current appraised value of real estate investments has been
estimated by the managing general partner and is generally based on a
correlation of traditional appraisal approaches performed by the Partnership's
advisor and independent appraisers. Because of the subjectivity inherent in the
valuation process, the estimated current appraised value may differ
significantly from that which could be realized if the real estate were actually
offered for sale in the marketplace.
<PAGE>
 
Results of Operations

Form of Real Estate Investments

          The Wilmington Industrial and Stemmons Industrial investments are
wholly-owned properties.  The other three real estate investments in the
portfolio are joint ventures.


Operating Factors

          Three of the Partnership's four industrial properties (Prentiss
Copystar, Wilmington and White Phonic) were 100% leased at June 30, 1997. The
Wilmington property was 73% leased at June 30, 1996.

          Stemmons Industrial has been vacant since February 1996, with the
expiration of a short-term lease for 82% of the space.  The Partnership has
entered into a purchase and sale agreement and the sale is expected to close in
the third quarter.

          Occupancy at Waterford Apartments, the Partnership's multi-family
residential property, remained in the mid 90% range during the first six months
of 1997, which is consistent with the prior year.


Investment Results

          Interest income on cash equivalents and short-term investments was
relatively unchanged between the first six months of 1996 and 1997.

          Total real estate activity for the first six months of 1997 was
$723,575, an increase from $549,564 for the comparable period of 1996.
Operating income at Wilmington increased $25,000 due to improved occupancy.
Operating results at Waterford Apartments increased by $86,000 primarily due to
higher rental rates.  In addition, operating results at Prentiss improved
approximately $30,000 due to lower operating expenses for landscaping and common
area improvements combined with a decrease in amortization expense related to
leasing commissions that became fully amortized.

          Cash flow from operations increased by approximately $87,000 between
the first six months of 1996 and 1997.  This increase is due to the increase in
operating results at Wilmington and changes in working capital, offset by the
timing of distributions from joint ventures.

Portfolio Expenses

          The Partnership management fee is 9% of distributable cash flow from
operations after any increase or decrease in working capital reserves as
determined by the managing general partner.  General and administrative expenses
consist primarily of real estate appraisal, printing, legal, accounting and
investor servicing fees.

          The Partnership management fee was unchanged between the first six
months of 1996 and 1997.  General and administrative expenses were relatively
consistent with the prior year comparative six month period.
<PAGE>
 
                         COPLEY PENSION PROPERTIES VI;
                       A REAL ESTATE LIMITED PARTNERSHIP
                                   FORM 10-Q


                        FOR QUARTER ENDED JUNE 30, 1997

                                    PART II


                               OTHER INFORMATION



Item 6.   Exhibits and Reports on Form 8-K

          a.  Exhibits:   None.

          b.  Reports on Form 8-K:  No Current Reports on Form 8-K
              were filed during the quarter ended June 30, 1997.
<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.



                             COPLEY PENSION PROPERTIES VI;
                             A REAL ESTATE LIMITED PARTNERSHIP
                             (Registrant)


August 12, 1997
                              /s/ James J. Finnegan
                              -------------------------------
                                 James J. Finnegan
                                 Managing Director and General Counsel
                                 of Managing General Partner,
                                 Sixth Copley Corp.



August 12, 1997
                              /s/ Karin J. Lagerlund
                              --------------------------------
                                 Karin J. Lagerlund
                                 Principal Financial and Accounting
                                 Officer of Managing General Partner,
                                 Sixth Copley Corp.