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

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                                    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)     January 11, 2005         
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                        BNP RESIDENTIAL PROPERTIES, INC.
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             (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.)

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         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        
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                                       N/A
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          (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))




Item. 7.01 Other Events.

         On January 11, 2005, we issued a press release announcing the tax
characteristics of our 2004 dividends. 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 January 11, 2005, issued by BNP 
         Residential Properties, Inc.


                                   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 hereunto duly authorized.


                                   BNP Residential Properties, Inc.
                                   (Registrant)


January 12, 2005                      /s/ Pamela B. Bruno                
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                                   Pamela B. Bruno
                                   Vice President, Treasurer and
                                   Chief Accounting Officer