As filed with the Securities and Exchange Commission on April 16, 1999
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Golf Trust of America, Inc.
- ------------------------------------------------------------------------------
(Name of Issuer)
Common Stock , par value $.01 per share*
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(Title of Class of Securities)
38168B103
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(CUSIP Number)
April 2, 1999
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
* AEW Capital Management, L.P. (the "Recording Person") currently owns 9.25%
Series A Convertible Cumulative Preferred Stock, par value $.01 per share (the
"Series A Preferred Stock"), of Golf Trust of America, Inc., which is
convertible into Common Stock in accordance with the terms of the Series A
Preferred Stock.
The information required in 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.
824997.1 Page 1 of 10
<PAGE>
CUSIP No. 38168B103 SCHEDULE 13 G Page 2 of 10
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AEW Capital Management, L.P.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
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5 SOLE VOTING POWER
961,704
NUMBER OF ------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 961,704
PERSON WITH ------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
961,704
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.38%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
824997.1 Page 2 of 10
<PAGE>
CUSIP No. 38168B103 SCHEDULE 13 G Page 3 of 10
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AEW TSF, L.L.C.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
761,904
NUMBER OF -------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY -------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 761,904
PERSON WITH -------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
761,904
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.02%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
824997.1 Page 3 of 10
<PAGE>
CUSIP No. 38168B103 SCHEDULE 13 G Page 4 of 10
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AEW TSF, Inc.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
761,904
NUMBER OF ------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 761,904
PERSON WITH ------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
761,904
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.02%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
824997.1 Page 4 of 10
<PAGE>
CUSIP No. 38168B103 SCHEDULE 13 G Page 5 of 10
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AEW Capital Management, Inc.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Commonwealth of Massachusetts
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
961,704
NUMBER OF -------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY -------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 961,704
PERSON WITH -------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
961,704
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.38%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
824997.1 Page 5 of 10
<PAGE>
CUSIP No. 38168B103 SCHEDULE 13 G Page 6 of 10
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AEW Targeted Securities Fund, L.P.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
761,904
NUMBER OF ------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 761,904
PERSON WITH ------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
761,904
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.02%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
824997.1 Page 6 of 10
<PAGE>
STATEMENT SCHEDULE 13 G
Item 1(a). Name of Issuer:
Golf Trust of America, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
14 North Adger's Wharf
Charlestown, S.C. 29401
Item 2(a). Name of Person Filing:
AEW Capital Management, L.P.
AEW Capital Management, Inc.
AEW TSF, Inc.
AEW TSF, L.L.C.
AEW Targeted Securities Fund, L.P.
Item 2(b). Address of Principal Business Office or, if none,
Residence:
c/o AEW Capital Management, Inc.
225 Franklin Street
Boston, MA 02110
Item 2(c). Citizenship:
AEW Capital Management, Inc. - Massachusetts
AEW TSF, Inc. - Delaware
AEW TSF, L.L.C. - Delaware
AEW Targeted Securities Fund, L.P. - Delaware
AEW Capital Management, L.P. - Delaware
Item 2(d). Title of Class of Securities:
Class A Common Stock, par value $0.01 per share of
Golf Trust of America, Inc.
Item 2(e). CUSIP Number:
38168B103
Item 3. If this statement is filed pursuant to Rules 13d-1(b)
or 13d-2(b), check whether the person filing is a :
Not Applicable.
824997.1 Page 7 of 10
<PAGE>
STATEMENT OF SCHEDULE 13 G
Item 4. Ownership:
(a) Amount Beneficially Owned:
AEW Targeted Securities Fund, L.P.,
TSF, L.L.C. and TSF, Inc.:
761,904
AEW Capital Management, Inc. and
AEW Capital Management, L.P.:
961,704
(b) Percent of Class:
AEW Targeted Securities Fund, L.P.,
TSF, L.L.C. and TSF, Inc.:
9.02%
AEW Capital Management, Inc. and
AEW Capital Management, L.P.:
11.38%
(c) Number of shares as to which the Reporting
Person has:
(i) sole power to vote or to direct the
vote:
AEW Targeted Securities Fund, L.P.,
TSF, L.L.C. and TSF, Inc.:
761,904
AEW Capital Management, Inc. and
AEW Capital Management, L.P.:
961,704
(ii) shared power to vote or to direct
the vote:
None
(iii) sole power to dispose or to direct
the disposition of:
AEW Targeted Securities Fund, L.P.,
TSF, L.L.C. and TSF, Inc.:
761,904
AEW Capital Management, Inc. and
AEW Capital Management, L.P.:
961,704
(iv) shared power to dispose or to
direct the disposition of:
None
Item 5. Ownership of Five Percent or Less of a Class:
Not Applicable.
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 Security Being Reported on By the Parent
Holding Company:
Not Applicable.
Item 8. Identification and Classification of Members of the Group:
Not Applicable.
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
not acquired and are not held for the purpose of or with
the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not
held in connection with or as a participant in any
transaction having that purpose or effect.
824997.1 Page 8 of 10
<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.
Dated: April 16, 1999
AEW Capital Management, L.P.
By: AEW Capital Management, Inc., its general
partner
By: /s/ James J. Finnegan
-----------------------------------
Name: James J. Finnegan
Title: Vice President
AEW Capital Management, Inc.
By: /s/ James J. Finnegan
-----------------------------------
Name: James J. Finnegan
Title: Vice President
AEW TSF, L.L.C.
By: /s/ James J. Finnegan
-----------------------------------
Name: James J. Finnegan
Title: Vice President
AEW TSF, Inc.
By: /s/ James J. Finnegan
-----------------------------------
Name: James J. Finnegan
Title: Vice President
AEW Targeted Securities Fund, L.P.
By: AEW TSF, L.L.C., its general partner
By: AEW TSF, Inc., its managing member
By: /s/ James J. Finnegan
-----------------------------------
Name: James J. Finnegan
Title: Vice President
824997.1 Page 9 of 10
<PAGE>
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of
1934, as amended, the undersigned agree to the joint filing on behalf of each of
them of a statement on schedule 13G (including amendments thereto) with respect
to the common Stock of Golf Trust of America, Inc. and further agree that this
agreement be included as an exhibit to such filing. Each party to the agreement
expressly authorizes each other party to file on its behalf any and all
amendments to such statement. Each party to this agreement agrees that this
joint filing agreement may be signed in counterparts.
In evidence whereof, the undersigned have caused this Agreement to be
executed on their behalf this 16th day of April, 1999.
AEW Capital Management, L.P.
By: AEW Capital Management, Inc., its general
partner
By: /s/ James J. Finnegan
-----------------------------------
Name: James J. Finnegan
Title: Vice President
AEW Capital Management, Inc.
By: /s/ James J. Finnegan
-----------------------------------
Name: James J. Finnegan
Title: Vice President
AEW TSF, L.L.C.
By: /s/ James J. Finnegan
-----------------------------------
Name: James J. Finnegan
Title: Vice President
AEW TSF, Inc.
By: /s/ James J. Finnegan
-----------------------------------
Name: James J. Finnegan
Title: Vice President
AEW Targeted Securities Fund, L.P.
By: AEW TSF, L.L.C., its general partner
By: AEW TSF, Inc., its managing member
By: /s/ James J. Finnegan
-----------------------------------
Name: James J. Finnegan
Title: Vice President
824997.1 Page 10 of 10
