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)     July 13, 2006

                        BNP RESIDENTIAL PROPERTIES, INC.
             (Exact Name of Registrant as Specified in Its Charter)

          Maryland                      1-9496                     56-1574675
(State or Other Jurisdiction   (Commission File Number)       (I.R.S. Employer
     of Incorporation)                                       Identification No.)

           301 S. College Street, Suite 3850
              Charlotte, North Carolina                                28202
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          (Address of Principal Executive Offices)                   (Zip Code)

Registrant's telephone number, including area code            (704) 944-0100

          (Former Name or Former Address, if Changed Since Last Report)

         Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

   ___     Written communications pursuant to Rule 425 under the Securities
           Act (17 CFR 230.425)

   ___     Soliciting material pursuant to Rule 14a-12 under the Exchange
           Act (17 CFR 240.14a-12)

   ___     Pre-commencement communications pursuant to Rule 14d-2(b) under
           the Exchange Act (17 CFR 240.14d-2(b))

   ___     Pre-commencement communications pursuant to Rule 13e-4(c) under
           the Exchange Act (17 CFR 240.13e-4(c))

                                                Total number of pages:  3

Item. 8.01 Other Events.

     Effective July 13, 2006, BNP Residential Properties, Inc. acquired the
Quail Hollow Apartments, located in Charlotte, North Carolina, from an
unaffiliated third party for a contract price of $5,075,000. This acquisition
was funded by a draw on our existing line of credit.

     On July 13, 2006, we issued a press release announcing and describing these
transactions. A copy of this press release is furnished as Exhibit 99.1 to this
Current Report on Form 8-K.

     The information included under Item 9.01 in this Current Report on Form 8-K
(including Exhibit 99.1) shall not be deemed "filed" with the Securities and
Exchange Commission or incorporated by reference in any registration statement
filed by us under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

(c)      Exhibits

99.1     Press release dated July 13, 2006, issued by BNP Residential
         Properties, Inc.


         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.

                                         BNP Residential Properties, Inc.

July 18, 2006                               /s/ Pamela B. Bruno
                                         Pamela B. Bruno
                                         Vice President, Treasurer and
                                         Chief Financial Officer