SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(AMENDMENT NO. ___)*
Under the Securities Exchange Act of 1934
Urstadt Biddle Properties Inc.
-------------------------------------------
(Name of Issuer)
Class A Common Stock, par value $.01 per share
----------------------------------------------
(Title of Class of Securities)
917286 20 5
----------------------------------------------
(CUSIP Number)
Charles J. Urstadt
Urstadt Biddle Properties Inc.
321 Railroad Avenue
Greenwich, Connecticut 06830
(203) 863-8200
----------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 14, 1998
-----------------------------------------------
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13(d)1-(f) or 13d-1(g), check the
following box [ ].
Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See
Rule 13d-7(b) for other parties to whom copies are to be sent.
*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 disclosure
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 (the "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 1 of 14 Pages
<PAGE>
CUSIP NO. 917286 20 5
- --------------------------------------------------------------------------------
1 Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Charles J. Urstadt
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. [ ]
b. [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds
N/A
- --------------------------------------------------------------------------------
5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
United States of America
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 15,800
Shares ----------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned by 925,000
Each ----------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person With 15,800
----------------------------------------------------------
10 Shared Dispositive Power
925,000
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
990,800
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
18.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person
IN
- --------------------------------------------------------------------------------
Page 2 of 14 Pages
<PAGE>
CUSIP NO. 917286 20 5
- --------------------------------------------------------------------------------
1 Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Urstadt Property Company, Inc.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. [ ]
b. [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds
N/A
- --------------------------------------------------------------------------------
5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned by 25,000
Each ----------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person With 0
----------------------------------------------------------
10 Shared Dispositive Power
25,000
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
25,000
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
0.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person
CO
- --------------------------------------------------------------------------------
Page 3 of 14 Pages
<PAGE>
CUSIP NO. 917286 20 5
- --------------------------------------------------------------------------------
1 Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Elinor F. Urstadt
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. [ ]
b. [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds
N/A
- --------------------------------------------------------------------------------
5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
United States of America
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 50,000
Shares ----------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned by 0
Each ----------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person With 50,000
----------------------------------------------------------
10 Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
50,000
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
0.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person
IN
- --------------------------------------------------------------------------------
Page 4 of 14 Pages
<PAGE>
CUSIP NO. 917286 20 5
- --------------------------------------------------------------------------------
1 Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Catherine Urstadt Biddle Irrevocable Trust,
by Charles J. Urstadt as Sole Trustee
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. [ ]
b. [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds
N/A
- --------------------------------------------------------------------------------
5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
United States of America
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned by 450,000
Each ----------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person With 0
----------------------------------------------------------
10 Shared Dispositive Power
450,000
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
450,000
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
8.2%
- --------------------------------------------------------------------------------
14 Type of Reporting Person
OO
- --------------------------------------------------------------------------------
Page 5 of 14 Pages
<PAGE>
CUSIP NO. 917286 20 5
- --------------------------------------------------------------------------------
1 Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Charles D. Urstadt Irrevocable Trust,
by Charles J. Urstadt as Sole Trustee
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. [ ]
b. [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds
N/A
- --------------------------------------------------------------------------------
5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
United States of America
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned by 450,000
Each ----------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person With 0
----------------------------------------------------------
10 Shared Dispositive Power
450,000
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
450,000
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
8.2%
- --------------------------------------------------------------------------------
14 Type of Reporting Person
OO
- --------------------------------------------------------------------------------
Page 6 of 14 Pages
<PAGE>
ITEM 1. SECURITY AND ISSUER.
This Statement on Schedule 13D (the "Schedule 13D") relates to the
Class A Common Stock, par value $.01 per share (the "Class A Common
Stock"), of Urstadt Biddle Properties Inc., a Maryland corporation (the
"Issuer"). The address of the principal executive offices of the Issuer
is 321 Railroad Avenue, Greenwich, Connecticut 06830.
ITEM 2. IDENTITY AND BACKGROUND.
This Schedule 13D is filed on behalf of: (i) Urstadt Property Company,
Inc. ("UPCO"); (ii) Charles J. Urstadt ("Mr. Urstadt"); (iii) Elinor F.
Urstadt ("Mrs. Urstadt"); (iv) Catherine Urstadt Biddle Irrevocable
Trust (the "CUB Trust"), by Charles J. Urstadt as Sole Trustee; and (v)
Charles D. Urstadt Irrevocable Trust (the "CDU Trust"), by Charles J.
Urstadt as Sole Trustee.
UPCO is a Delaware corporation engaged in the business of real estate
investments. The principal office and business address of UPCO is 2
Park Place, Bronxville, New York 10708. The respective names, business
addresses, present principal occupations and citizenships of each
director and executive officer of UPCO are set forth on Schedule I
hereto.
Mr. Urstadt is the Chairman and Chief Executive Officer of the Issuer.
His business address is Urstadt Biddle Properties Inc., 321 Railroad
Avenue, Greenwich, Connecticut 06830. Mr. Urstadt is also the Chairman
of the Board of UPCO.
Mrs. Urstadt is engaged in the business of real estate investments. Her
business address is Urstadt Property Company, Inc., 2 Park Place,
Bronxville, New York 10708.
The CUB Trust is an irrevocable trust created by Mr. Urstadt's
daughter, Catherine Urstadt Biddle, who is the beneficiary. Mr. Urstadt
is the sole trustee of the CUB Trust and, for purposes of this Schedule
13D, may be deemed to be the beneficial owner of the shares of Class A
Common Stock owned by the CUB Trust.
The CDU Trust is an irrevocable trust created by Mr. Urstadt's son,
Charles D. Urstadt, a director of the Issuer, who is the beneficiary.
Mr. Urstadt is the sole trustee of the CDU Trust and, for purposes of
this Schedule 13D, may be deemed to be the beneficial owner of the
shares of Class A Common Stock owned by the CDU Trust.
None of UPCO, Mr. Urstadt, Mrs. Urstadt or, to the best knowledge of
such parties, any of the persons listed on Schedule I hereto, has,
during the last five years, (i) been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or (ii) been a
party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is
subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to,
Federal or state securities laws or finding any violation with respect
to such laws.
UPCO is a corporation organized and existing under the laws of the
State of Delaware. Mr. Urstadt, Mrs. Urstadt and each of the persons
listed on Schedule I hereto are citizens of the United States of
America.
Page 7 of 14 Pages
<PAGE>
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The securities were acquired pursuant to a special stock dividend (the
"Stock Dividend"), declared by the Board of Directors of the Issuer on
June 16, 1998, on the Common Stock, par value $.01 per share (the
"Common Stock"), of the Issuer, consisting of one share of the newly
created Class A Common Stock for each share of Common Stock outstanding
as of the close of business on July 31, 1998 (the "Record Date"). The
Stock Dividend was payable on August 14, 1998 to holders of record of
the Common Stock at the close of business on the Record Date.
ITEM 4. PURPOSE OF TRANSACTION.
As discussed in Item 3 of this Schedule 13D, the Class A Common Stock
was acquired by each of the reporting persons pursuant to the Stock
Dividend.
Mr. Urstadt is the beneficial owner of approximately 25.0% of the
outstanding shares of Common Stock and, upon payment of the Stock
Dividend, Mr. Urstadt acquired approximately 18.0% of the outstanding
shares of Class A Common Stock. Should Mr. Urstadt sell shares of Class
A Common Stock and purchase additional shares of Common Stock, Mr.
Urstadt could increase his percentage voting power. Depending upon the
actual number of shares of Common Stock acquired by Mr. Urstadt, his
position could make it more difficult for a third party to effect an
unsolicited take-over attempt or to replace the current members of the
Board of Directors of the Issuer, thereby possibly depriving
stockholders of the Issuer of an opportunity to sell their shares at a
premium over prevailing market prices. While Mr. Urstadt has no present
plans or arrangements to acquire or dispose of any shares of Common
Stock or Class A Common Stock, it is possible that he could dispose of
shares of Class A Common Stock and acquire shares of Common Stock and
it is his current intention that if he were to acquire or dispose of
any shares, he would acquire shares of Common Stock and dispose of
shares of Class A Common Stock. Any such purchases and sales would be
dependent upon a number of factors, including market conditions,
availability of the shares, market prices and other factors.
Except as specifically set forth in this Item 4, none of UPCO, Mr.
Urstadt, Mrs. Urstadt, the CUB Trust, the CDU Trust, or, to the best
knowledge of such parties, any of the persons listed on Schedule I
hereto, has any plans or proposals which relate to or would result in
any of the actions or effects set forth in items (a) through (j) of
Item 4 of Schedule 13D, although such persons may develop such plans or
proposals.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) UPCO is the beneficial owner of 25,000 shares of Class A Common
Stock, constituting 0.5% of the 5,499,717 shares of Class A
Common Stock outstanding as of August 21, 1998.
Mr. Urstadt is the beneficial owner of 15,800 shares of Class A
Common Stock individually, which, when added to the 25,000 shares
of Class A Common Stock held by UPCO, the 450,000 shares of Class
A Common Stock held by the CUB Trust, the 450,000 shares of Class
A Common Stock held by the CDU Trust and the 50,000 shares held
by Mrs. Urstadt, constitute 990,800 shares of Class A Common
Page 8 of 14 Pages
<PAGE>
Stock, or 18.0% of the 5,499,717 shares of Class A Common Stock
outstanding as of August 21, 1998.
Mrs. Urstadt is the beneficial owner of 50,000 shares of Class A
Common Stock, constituting 0.9% of the 5,499,717 shares of Class
A Common Stock outstanding as of August 21, 1998.
The CUB Trust is the beneficial owner of 450,000 shares of Class
A Common Stock, constituting 8.2% of the 5,499,717 shares of
Class A Common Stock outstanding as of August 21, 1998.
The CDU Trust is the beneficial owner of 450,000 shares of Class
A Common Stock, constituting 8.2% of the 5,499,717 shares of
Class A Common Stock outstanding as of August 21, 1998.
(b) UPCO and Mr. Urstadt may be deemed to have shared power to vote
or direct the voting of and to dispose of or direct the
disposition of the 25,000 shares of Class A Common Stock owned by
UPCO in view of the fact that Mr. Urstadt and Mrs. Urstadt own a
controlling amount of the outstanding voting securities of UPCO.
Mr. Urstadt has the sole power to vote or direct the voting of
and to dispose of or direct the disposition of 15,800 shares of
Class A Common Stock.
Mrs. Urstadt has the sole power to vote or direct the voting of
and to dispose of or direct the disposition of 50,000 shares of
Class A Common Stock.
The CUB Trust and Mr. Urstadt may be deemed to have shared power
to vote or direct the voting of and to dispose of or direct the
disposition of the 450,000 shares of Class A Common Stock owned
by the CUB Trust in view of the fact that Mr. Urstadt is the sole
trustee of the CUB Trust.
The CDU Trust and Mr. Urstadt may be deemed to have shared power
to vote or direct the voting of and to dispose of or direct the
disposition of the 450,000 shares of Class A Common Stock owned
by the CDU Trust in view of the fact that Mr. Urstadt is the sole
trustee of the CDU Trust.
(c) All shares of Class A Common Stock were acquired by the persons
referred to in Item 2 of this Schedule 13D pursuant to the Stock
Dividend described in Item 3 of this Schedule 13D. None of UPCO,
Mr. Urstadt, Mrs. Urstadt, the CUB Trust, the CDU Trust or, to
the best knowledge of such parties, any of the persons listed on
Schedule I hereto, has purchased or sold, or has effected any
other transactions involving, any shares of the capital stock of
the Issuer during the past 60 days.
(d) Except as set forth in this Schedule 13D, no person is known by
UPCO, Mr. Urstadt, Mrs. Urstadt, the CUB Trust or the CDU Trust
to have the right to receive or the power to direct the receipt
of dividends from, or the proceeds from the sale of, Class A
Common Stock of the Issuer.
Page 9 of 14 Pages
<PAGE>
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
There are no contracts, arrangements, understandings or
relationships (legal or otherwise) among the persons referred to
in Item 2 of this Schedule 13D or between such persons and any
other person with respect to any securities of the Issuer,
including, but not limited to, transfer or voting of any of the
securities, finder's fees, joint ventures, loan or option
agreements, puts or calls, guarantees of profits, division of
profits or loss, or the giving or withholding of proxies.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
1. Joint Filing Agreement, dated August 24, 1998.
Page 10 of 14 Pages
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of their respective knowledge
and belief, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Dated: August 24, 1998
URSTADT PROPERTY COMPANY, INC.
By: /s/ Charles J. Urstadt
--------------------------------------------
Name: Charles J. Urstadt
Title: Chairman of the Board
/s/ Charles J. Urstadt
------------------------------------------
Charles J. Urstadt
/s/ Elinor F. Urstadt
------------------------------------------
Elinor F. Urstadt
CATHERINE URSTADT BIDDLE IRREVOCABLE
TRUST
By: /s/ Charles J. Urstadt
---------------------------------------
Name: Charles J. Urstadt
Title: Trustee
CHARLES D. URSTADT IRREVOCABLE TRUST
By: /s/ Charles J. Urstadt
-----------------------------------
Name: Charles J. Urstadt
Title: Trustee
Page 11 of 14 Pages
<PAGE>
SCHEDULE I
----------
Reporting Person: Urstadt Property Company, Inc. ("UPCO")
2 Park Place
Bronxville, New York 10708
Executive Officers and Directors:
Name:........................... Charles J. Urstadt
Position:....................... Chairman
Principal Occupation
and Employment;
Business Address:............... Chairman of UPCO; Chairman and Chief
Executive Officer of the Issuer; the
business address is 321 Railroad Avenue,
Greenwich, Connecticut 06830.
Citizenship:.................... United States of America
Name: ....................... Charles D. Urstadt
Position:....................... Director, President and Secretary
Principal Occupation
and Employment;
Business Address:............... President and Secretary of UPCO; the
business address is 2 Park Place,
Bronxville, New York 10708.
Citizenship:.................... United States of America
Name: ....................... Jeffrey Urstadt
Position:....................... Director, Vice Chairman
Principal Occupation
and Employment;
Business Address:............... Vice Chairman of UPCO; the business address
is 2 Park Place, Bronxville, New York 10708.
Citizenship:.................... United States of America
Name: ....................... Daniel J. Keon
Position:....................... Senior Vice President and Treasurer
Principal Occupation
and Employment;
Business Address:............... Senior Vice President and Treasurer of UPCO;
the business address is 2 Park Place,
Bronxville, New York, 10708.
Citizenship:.................... United States of America
Name: ....................... Catherine Urstadt Biddle
Position:....................... Vice President and Assistant Secretary
Principal Occupation
and Employment;
Business Address:............... Vice President and Assistant Secretary of
UPCO; the business address is 2 Park Place,
Bronxville, New York 10708.
Citizenship:.................... United States of America
Page 12 of 14 Pages
<PAGE>
EXHIBIT INDEX
-------------
Exhibit
- -------
1. Joint Filing Agreement, dated August 24, 1998.
Page 13 of 14 Pages
Exhibit 1
AGREEMENT
---------
The undersigned hereby agree that this Statement on Schedule 13D with
respect to the beneficial ownership of shares of Class A Common Stock of Urstadt
Biddle Properties Inc. is filed jointly, on behalf of each of them.
Dated: August 24, 1998
URSTADT PROPERTY COMPANY, INC.
By: /s/ Charles J. Urstadt
----------------------------------------
Name: Charles J. Urstadt
Title: Chairman of the Board
/s/ Charles J. Urstadt
----------------------------------------
Charles J. Urstadt
/s/ Elinor F. Urstadt
----------------------------------------
Elinor F. Urstadt
CATHERINE URSTADT BIDDLE IRREVOCABLE
TRUST
By: /s/ Charles J. Urstadt
----------------------------------------
Name: Charles J. Urstadt
Title: Trustee
CHARLES D. URSTADT IRREVOCABLE TRUST
By: /s/ Charles J. Urstadt
----------------------------------------
Name: Charles J. Urstadt
Title: Trustee
Page 14 of 14 Pages
