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OMB APPROVAL
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OMB Number 3235-0104
Expires: September 30, 1997
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Prometheus Senior Quarters LLC (FN1)
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(Last) (First) (Middle)
c/o Lazard Freres Real Estate Investors L.L.C.
30 Rockefeller Plaza, 63rd Floor
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(Street)
New York New York 10020
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
September 30, 1997
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Kapson Senior Quarters Corp. (KPSQ)
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Year)
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7. Individual or Joint/Group Filing
(Check Applicable Lines)
[ ] Form Filed by One Reporting Person
[ X ] Form Filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
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<FN>
1 This Form 3 is also filed on behalf of Lazard Freres Real Estate
Investors L.L.C.
</FN>
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instructions
5(b)(v).
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Security Exer- tion of Derivative (I) Ownership
(Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
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Stock Option (Purchase) 9/30/97 9/30/98 Common Stock, $0.1 par 3,849,999 $16.00 D and I(FN2) See
value per share footnote 2
below.
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Explanation of Responses:
Prometheus Senior Quarters LLC
By: Lazard Freres Real Estate Investors L.L.C
By: /s/ Robert P. Freeman October 10, 1997
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Robert P. Freeman
President
Lazard Freres Real Estate Investors L.L.C.
By: /s/ Robert P. Freeman October 10, 1997
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Robert P. Freeman
President
Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
<FN>
2 Prometheus Senior Quarters LLC is the direct beneficial owner of the Stock
Option. Lazard Freres Real Estate Investors L.L.C., as the sole member
of Prometheus Senior Quarters LLC, may be deemed beneficial owner of the
Stock Option owned by Prometheus Senior Quarters LLC. However, this Form 3
shall not be deemed an admission that Lazard Freres Real Estate Investors
L.L.C. is the beneficial owner of the Stock Option covered by this
statement.
</FN>
</TABLE>
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form displays a
currently valid OMB Number.
