UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
OMB APPROVAL
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Municipal Mortgage and Equity, L.L.C.
------------------------------------
(Name of Issuer)
Growth Shares, no par value
------------------------------
(Title of Class of Securities)
62624 B 101
--------------
(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act
of 1934 ("Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
CUSIP No.
62624B101
13G
Page 2 of 14 Pages
1
NAME OF REPORTING PERSON
SS. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mark K. Joseph
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b)
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OR ORGANIZATION
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
1,151
6
SHARED VOTING POWER
749,590
7
SOLE DISPOSITIVE POWER
1,151
8
SHARED DISPOSITIVE POWER
749,590
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
750,741
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.8%
12
TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No.
62624B101
13G
Page 3 of 14 Pages
1
NAME OF REPORTING PERSON
SS. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Shelter Development Holdings, Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b)
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OR ORGANIZATION
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
- -0-
6
SHARED VOTING POWER
26,729
7
SOLE DISPOSITIVE POWER
- -0-
8
SHARED DISPOSITIVE POWER
26,729
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
26,729
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.2%
12
TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No.
62624B101
13G
Page 3 of 14 Pages
1
NAME OF REPORTING PERSON
SS. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SCA Associates 86-II Limited Partnership
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b)
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OR ORGANIZATION
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
- -0-
6
SHARED VOTING POWER
203,140
7
SOLE DISPOSITIVE POWER
- -0-
8
SHARED DISPOSITIVE POWER
203,140
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
203,140
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.8%
12
TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No.
62624B101
13G
Page 4 of 14 Pages
1
NAME OF REPORTING PERSON
SS. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SCA Associates 95-II Limited Partnership
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b)
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OR ORGANIZATION
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
- -0-
6
SHARED VOTING POWER
277,982
7
SOLE DISPOSITIVE POWER
- -0-
8
SHARED DISPOSITIVE POWER
277,982
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
277,982
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.5%
12
TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No.
62624B101
13G
Page 5 of 14 Pages
1
NAME OF REPORTING PERSON
SS. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SDC Associates Limited Partnership
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b)
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OR ORGANIZATION
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
- -0-
6
SHARED VOTING POWER
50,786
7
SOLE DISPOSITIVE POWER
- -0-
8
SHARED DISPOSITIVE POWER
50,786
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,786
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.5%
12
TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No.
62624B101
13G
Page 6 of 14 Pages
1
NAME OF REPORTING PERSON
SS. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SCA Realty, Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b)
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OR ORGANIZATION
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
- -0-
6
SHARED VOTING POWER
390,606
7
SOLE DISPOSITIVE POWER
- -0-
8
SHARED DISPOSITIVE POWER
390,606
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
390,606
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
3.5%
12
TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No.
62624B101
13G
Page 7 of 14 Pages
1
NAME OF REPORTING PERSON
SS. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MME I Corporation
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b)
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OR ORGANIZATION
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
- -0-
6
SHARED VOTING POWER
332,251
7
SOLE DISPOSITIVE POWER
- -0-
8
SHARED DISPOSITIVE POWER
332,251
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
332,251
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
3.0%
12
TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No.
62624B101
13G
Page 8 of 14 Pages
1
NAME OF REPORTING PERSON
SS. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MME II Corporation
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) X
(b)
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OR ORGANIZATION
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
- -0-
6
SHARED VOTING POWER
4
7
SOLE DISPOSITIVE POWER
- -0-
8
SHARED DISPOSITIVE POWER
4
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
12
TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13G
Item 1. (a) Name of Issuer:
Municipal Mortgage and Equity, L.L.C.
(the "Company")
(b) Address of Issuer's Principal
Executive Offices:
218 North Charles Street, Suite 500
Baltimore, Maryland 21201
Item 2. (a) Name of Person Filing:
Mark K. Joseph
Shelter Development Holdings, Inc.
SCA Associates 86-II Limited Partnership
SCA Associates 95-II Limited Partnership
SDC Associates Limited Partnership
SCA Realty, Inc.
MME I Corporation
MME II Corporation
(b) Address of Principal Business
Office or, if none, Residence:
218 North Charles Street, Suite 500
Baltimore, Maryland 21201
(c) Citizenship:
United States
(d) Title of Class of Securities:
Growth Shares, no par value (the "Shares").
(e) CUSIP Number:
62624 B 101
Item 3. If this Statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) [ ] Broker or Dealer registered under section 15 of the Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19) of the Act
(d) [ ] Investment Company registered under section 8 of the Investment
Company Act
(e) [ ] Investment Adviser registered under section 203 of the Investment
Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund; see 240.13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with
240.13d-1(b)(1)(ii)(G)
(h) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(H)
Item 4. Ownership.
(a) Amount beneficially owned:
See Schedule A hereto
(b) Percent of Class:
See Schedule A hereto
(c) Number of shares as to which such person has: (i) sole power to vote
or direct the vote; (ii) shared power to vote or direct the vote;
(iii) sole power to dispose or to direct the disposition of; (iv)
shared power to dispose or to direct the disposition of.
See Schedule A hereto
Item 5. Ownership of Five Percent or Less of a Class.
[ ] The reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Securities Being Reported on By the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
The indentity of each member of the group is disclosed on the cover
pages attached hereto.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer
of such securities and were not acquired in connection with or as a
participant in any transaction having such purposes or effect.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Date: May 14, 1997
/s/ Mark K. Joseph
Mark K. Joseph
SHELTER DEVELOPMENT HOLDINGS, INC.
/s/ Mark K. Joseph
Mark K Joseph, President
SCA ASSOCIATES 86-II LIMITED PARTNERSHIP
By: SCA Realty, Inc., its general partner
By:/s/ Mark K. Joseph
Mark K. Joseph, President
SCA ASSOCIATES 95-II LIMITED PARTNERSHIP
By: MME I Corporation, its general partner
By:/s/ Mark K. Joseph
Mark K. Joseph, President
SDC ASSOCIATES LIMITED PARTNERSHIP
By: MME I Corporation, its general partner
By:/s/ Mark K. Joseph
Mark K. Joseph, President
SCA REALTY, INC.
By: /s/ Mark K. Joseph
Mark K. Joseph, President
MME I Corporation
By: /s/ Mark K. Joseph
Mark K. Joseph, President
MME II Corporation
By: /s/ Mark K. Joseph
Mark K. Joseph, President
<PAGE>
Schedule A
In the following table, each reference to the percentage of Growth Shares
beneficially owned by a reporting person is calculated by using the
11,092,370 growth shares outstanding on December 31, 1996 as shown by the
most recent report published by the issuer.
<PAGE>
<TABLE>
<CAPTION>
Number of Growth Shares as to Which
Aggregate Reporting Person Has
Number of ---------------------------------------------------
Growth Shares Percentage of Sole Shared Sole Shared
Reporting Beneficially Outstanding Power to Power to Power to Power to
Person Owned Growth Shares Vote Vote Dispose Dispose
- ------------------------- ---------------- ----------------- ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
Mark K. Joseph 750,741 6.8% 1,151 749,590 1,151 749,590
Shelter Development 26,729 0.2% 0 26,729 0 26,729
Holdings, Inc.
SCA Associates 86-II 203,140 1.8% 0 203,140 0 203,140
Limited Partnership
SCA Associates 95-II 277,982 2.5% 0 277,982 0 277,982
Limited Partnership
SDC Associates 50,786 0.5% 0 50,786 0 50,786
Limited Partnership
SCA Realty, Inc. 390,606 3.5% 0 390,606 0 390,606
MME I Corporation 332,251 3.0% 0 332,251 0 332,251
MME II Corporation 4 0.0% 0 4 0 4
</TABLE>
<PAGE>
JOINT FILING AGREEMENT
The undersigned hereby agree that the Statement on Schedule 13G dated
May 14, 1997 with respect to the Growth Shares of Municipal Mortgage & Equity,
L.L.C. is, and any further amendments thereto executed by each or any of us
shall be, filed on behalf of each of us pursuant to and in acceptance with the
provisions of Rule 13d-1(f) under the Securities Exchange Act of 1934, as
amended.
This Agreement may be executed in separate counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same
instrument.
Date: May 14, 1997
/s/ Mark K. Joseph
Mark K. Joseph
SHELTER DEVELOPMENT HOLDINGS, INC.
/s/ Mark K. Joseph
Mark K. Joseph, President
SCA ASSOCIATES 86-II LIMITED PARTNERSHIP
By: SCA Realty, Inc., its general partner
By:/s/ Mark K. Joseph
Mark K. Joseph, President
SCA ASSOCIATES 95-II LIMITED PARTNERSHIP
By: MME I Corporation, its general partner
By:/s/ Mark K. Joseph
Mark K. Joseph, President
SDC ASSOCIATES LIMITED PARTNERSHIP
By: MME I Corporation, its general partner
By:/s/ Mark K. Joseph
Mark K. Joseph, President
SCA REALTY, INC.
By: /s/ Mark K. Joseph
Mark K. Joseph, President
MME I Corporation
By: /s/ Mark K. Joseph
Mark K. Joseph, President
MME II Corporation
By: /s/ Mark K. Joseph
Mark K. Joseph, President
