SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
AMENDMENT NO. 1
to
SCHEDULE 13D
Under the Securities Exchange Act of 1934
BlackRock MQE Investors
(Name of Issuer)
Units
(Title of Class of Securities)
N/A
(CUSIP Number)
Harold Blumenstein (810) 646-9600
B.M. Housing, L.L.C. 32400 Telegraph Road, Suite 202
Bingham Farms, Michigan 48025
(Name, address and telephone number of person
authorized to receive notices and communications)
October 31, 1996
(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 which is the subject of
this Schedule 13D, and is filing this schedule because of Rule
13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the
statement [ ]. (A fee is not required only if the reporting
person: (1) has a previous statement on file reporting
beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d-7.)
<PAGE>
CUSIP No. N/A
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. B.M. Housing, L.L.C.
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION Michigan
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 11,400
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER - 0 -
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 11,400
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER - 0 -
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 11,400
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 24.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON CO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. N/A
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. NINA
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION Michigan
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER - 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER - 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 24.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. N/A
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Old Blue & Green Associates
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION New York
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER - 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER - 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 24.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. N/A
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. James Grosfeld
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [X]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 24.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. N/A
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Harold Blumenstein
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER - 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER - 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 24.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. N/A
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Howard P. Berkowitz
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER - 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER - 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 24.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. N/A
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. George Wiegers
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER - 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER - 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 24.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. N/A
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. David Hermelin
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER - 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER - 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 24.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. N/A
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Gerald P. Kaminsky
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER - 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER - 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 24.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. N/A
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Martin I. Kaminsky
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER - 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER - 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 11,400 (all Units are owned
by B.M. Housing, L.L.C.)
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 24.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Amendment No. 1 to Schedule 13D amends and restates the
Schedule 13D filed by B.M. Housing, L.L.C.
ITEM 1. SECURITY AND ISSUER.
This Statement on Schedule 13D ("Schedule 13D") is being filed
with respect to the units (the "Unit"), of BlackRock MQE Investors, a Delaware
Business Trust (the "Trust"), whose principal executive office is located at
345 Park Avenue, New York, New York 10154.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This Schedule 13D is being filed on behalf of B.M. Housing,
L.L.C., a Michigan limited liability company whose principal office is located
at 32400 Telegraph Road, Suite 202, Bingham Farms, Michigan 48025 (the
"Company"), its members: NINA, a Michigan limited partnership ("NINA"), whose
principal office is located at 20500 Civic Center Drive, Suite 3000,
Southfield, Michigan 48076; Old Blue & Green Associates, a New York general
partnership ("OB&GA"), whose principal office is located at 136 Harold Road,
Woodmere, New York 11598; Mr. James Grosfeld; Mr. Harold Blumenstein; Mr.
Howard P. Berkowitz; and Mr. George Wiegers (collectively, the "Members"); Mr.
David Hermelin, the general partner of NINA and Messrs. G.P. Kaminsky and M.I.
Kaminsky, the general partners of OB&GA; with respect to the Units purchased
and owned by the Company.
(b) Mr. Grosfeld's business address is 20500 Civic Center Drive,
Suite 3000, Southfield, Michigan 48076. Mr. Blumenstein's business address is
32400 Telegraph Road, Suite 202, Bingham Farms, Michigan 48025. Mr.
Berkowitz's business address is 888 Seventh Avenue, New York, New York 10106.
Mr. Wiegers' business address is 230 Bridge Street, Vail, Colorado 81657. Mr.
Hermelin's business address is 20500 Civic Center Drive, Suite 3000,
Southfield, Michigan 48076. The business address of both Messrs. G.P.
Kaminsky and M.I. Kaminsky is 136 Harold Road, Woodmere, New York 11598.
(c) Mr. Grosfeld's present principal occupation is Chief
Executive Officer of Real Estate Development and Investment Company,
Incorporated, a Michigan corporation, whose principal office is located at
20500 Civic Center Drive, Suite 3000, Southfield, Michigan 48076. Mr.
Blumenstein's present principal occupation is an investor for Paragon
Properties Company, a Michigan corporation, whose principal office is located
at 32400 Telegraph Road, Suite 202, Bingham Farms, Michigan 48025. Mr.
Berkowitz's present principal occupation is acting as managing member of HPB
Group L.L.C., the general partner of HPB Associates, L.P., a Delaware limited
partnership. HPB Group L.L.C.'s principal office is located at 888 Seventh
Avenue, New York, New York 10106. Mr. Wiegers is a private investor. Mr.
Hermelin's present principal occupation is the general partner of NINA. The
present principal occupation of both Messrs. G.P. Kaminsky and M.I. Kaminsky
is managing partner of OB&GA.
(d) Neither the Company, any of its Members, nor any of Messrs.
Hermelin, G.P. Kaminsky and M.I. Kaminsky has, during the last five years,
<PAGE>
been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors).
(e) Except as disclosed on Schedule 1 hereto with respect to
Mr. Grosfeld, neither the Company, any of its Members, nor any of Messrs.
Hermelin, G.P. Kaminsky and M.I. Kaminsky has, during the last five years,
been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction which, 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 a finding of any violation with respect to such laws.
(f) Messrs. Grosfeld, Blumenstein, Berkowitz, Wiegers, Hermelin,
G.P. Kaminsky and M.I. Kaminsky are each United States citizens.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source of funds for the purchase reported by the Company in
Item 4 below was the Company's working capital, provided by capital
contributions by the Members. The Company used total funds of $11,400,000 to
purchase 11,400 Units of the Trust.
ITEM 4. PURPOSE OF TRANSACTION.
The Company acquired the Units for investment purposes. The
Company intends to review its holdings with respect to the Trust on a
continuing basis. Depending on the Company's evaluation of the Trust's
business and prospects, and upon future developments (including, but not
limited to, market prices of the Units and availability and alternative uses
of funds; as well as conditions in the real estate and securities markets and
general economic and industry conditions), the Company may make further
purchases of the Units from time to time, dispose of any or all Units held by
it at any time, or maintain its position at current levels.
The Company has no plans or proposals which relate to, or would
result in, any of the matters referred to in paragraphs (b) through (j),
inclusive, of Item 4 of Schedule 13D. The Company may, at any time and from
time to time, review or reconsider its position with respect to the Trust, and
formulate plans or proposals with respect to any such matters.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The approximate aggregate percentage of shares of Units
beneficially owned by each person herein is based on 46,630 Units outstanding
as of October 31, 1996.
As of the close of business on October 31, 1996, the Company is
the beneficial owner of 11,400 Units (constituting approximately 24.5% of the
Units outstanding). None of the Members nor any of Messrs. Hermelin, G.P.
Kaminsky and M.I. Kaminsky directly own any of the Units. By reason of
provisions of Rule 13d-3 of the Act, however, each of the Company's Members,
<PAGE>
and each of Messrs. Hermelin, G.P. Kaminsky and M.I. Kaminsky may be deemed
the beneficial owner of the 11,400 Units owned by the Company (constituting
approximately 24.5% of the Units outstanding).
(b) The Company has the sole power to vote and dispose of all
the 11,400 Units owned by it, which power may be exercised by one or more of
its Members appointed by written consent of its Members, as provided for in
the Operating Agreement of the Company. Mr. Grosfeld has both the sole and
shared power to vote and dispose of all the 11,400 Units owned by the Company.
Each of the Members, and Messrs. Hermelin, G.P. Kaminsky and M.I. Kaminsky has
the shared power to vote and dispose of the 11,400 Units owned by the Company
and the sole power to neither vote nor dispose of any Units.
(c) All of the Units were purchased in connection with the
initial offering of the Units.
(d) No person other than the Company is known to have the right
to receive or the power to direct the receipt of dividends from or the
proceeds of sale of such Units.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Other than the Operating Agreement of the Company (filed as
Exhibit 1 to the Schedule 13D) there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the persons named
in Item 2 hereof and between such persons or any person with respect to any
securities of the Trust, including but not limited to transfer or voting of
any of the Units, finder's fees, joint ventures, loan or option arrangements,
puts or calls, guarantees of profits, division of profits or loss, or the
giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Joint Acquisition Statement, dated as of December 3, 1996.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Dated: December 3, 1996
B.M. HOUSING, L.L.C.
By: /s/ Harold Blumenstein
--------------------------
Harold Blumenstein
Member
NINA
By: /s/ David Hermelin
--------------------------
David Hermelin
General Partner
OLD BLUE & GREEN ASSOCIATES
By: /s/ Gerald P. Kaminsky
--------------------------
Gerald P. Kaminsky
Managing Partner
/s/ James Grosfeld
--------------------------
James Grosfeld
/s/ Harold Blumenstein
--------------------------
Harold Blumenstein
/s/ Howard P. Berkowitz
--------------------------
Howard P. Berkowitz
/s/ George Wiegers
--------------------------
George Wiegers
<PAGE>
/s/ David Hermelin
--------------------------
David Hermelin
/s/ Gerald P. Kaminsky
--------------------------
Gerald P. Kaminsky
/s/ Martin I. Kaminsky
--------------------------
Martin I. Kaminsky
<PAGE>
JOINT ACQUISITION STATEMENT
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13-d-1(f)(1)
The undersigned acknowledge and agree that the foregoing Amendment
No. 1 to the statement on Schedule 13D is filed on behalf of each of the
undersigned and that all subsequent amendments to this Amendment No. 1 to the
statement on Schedule 13D shall be filed on behalf of each of the undersigned
without the necessity of filing additional acquisition statements. The
undersigned acknowledge that each shall be responsible for the timely filing
of such amendments, and for the completeness and accuracy of the information
concerning him or it contained therein, but shall not be responsible for the
completeness or accuracy of the information concerning the other, except to
the extent that he or it knows or has reason to believe that such information
is inaccurate.
Dated: December 3, 1996
B.M. HOUSING, L.L.C.
By: /s/ Harold Blumenstein
--------------------------
Harold Blumenstein
Member
NINA
By: /s/ David Hermelin
--------------------------
David Hermelin
General Partner
OLD BLUE & GREEN ASSOCIATES
By: /s/ Gerald P. Kaminsky
--------------------------
Gerald P. Kaminsky
Managing Partner
/s/ James Grosfeld
--------------------------
James Grosfeld
/s/ Harold Blumenstein
--------------------------
Harold Blumenstein
<PAGE>
/s/ Howard P. Berkowitz
--------------------------
Howard P. Berkowitz
/s/ George Wiegers
--------------------------
George Wiegers
/s/ David Hermelin
--------------------------
David Hermelin
/s/ Gerald P. Kaminsky
--------------------------
Gerald P. Kaminsky
/s/ Martin I. Kaminsky
--------------------------
Martin I. Kaminsky
<PAGE>
SCHEDULE 1
Certain Litigation
In 1990, the Commodity Futures Trading Commission ("CFTC") brought
a civil action against MultiVest Options, Inc. ("MOI") alleging various
violations of the Commodity Exchange Act ("CEA") and certain rules and
regulations of the CFTC. Mr. Grosfeld was the principal stockholder of the
ultimate parent corporation of MOI, but according to Mr. Grosfeld, he was
never an officer or director of MOI and did not participate in the day-to-day
conduct of its business. Without admitting or denying the allegations of the
CFTC complaint, MOI consented to the entry of a permanent injunction and
appointment of a receiver. MOI discontinued its business operations in 1990.
Mr. Grosfeld was not specifically named in the CFTC proceeding or in the
injunction related thereto. Subsequently, in 1990, certain individuals who
had previously purchased and sold commodity options through MOI brought a
class action lawsuit against the parent and affiliated companies of MOI and
Mr. Grosfeld, alleging that the defendants, among other things, violated the
antifraud provisions of the CEA and asserting other federal and state law
claims. Mr. Grosfeld, who believes that the litigation is without merit, has
denied all such allegations and is vigorously defending such litigation.
