UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
WILSHIRE REAL ESTATE INVESTMENT TRUST INC.
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(Name of Issuer)
Common Stock, par value $0.0001 per share
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(Title of Class of Securities)
971892104
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(CUSIP Number)
Andrew A. Wiederhorn
c/o Wilshire Financial Services Group Inc.
1776 SW Madison Street
Portland, Oregon 97205
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
5/12/99
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(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 this statement |_|. (A fee
is not required only if the filing 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. 971892104 SCHEDULE 13D Page 2 of 6 Pages
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1 NAME OF REPORTING PERSON
Andrew A. Wiederhorn
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
(Intentionally omitted)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 608,689
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
608,689
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
608,689
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%
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14 TYPE OF REPORTING PERSON
IN
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<PAGE>
CUSIP No. 971892104 SCHEDULE 13D Page 3 of 6 Pages
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1 NAME OF REPORTING PERSONS
Tiffany Wiederhorn
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
(Intentionally omitted)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS* PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES 495,057
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 608,689
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 495,057
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
608,689
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
608,689
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%
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14 TYPE OF REPORTING PERSON
IN
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<PAGE>
CUSIP No. 971892104 SCHEDULE 13D Page 4 of 6 Pages
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1 NAME OF REPORTING PERSONS TIMM, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(Intentionally omitted)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 100,000
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 100,000
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
100,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.8%
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14 TYPE OF REPORTING PERSON PN
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<PAGE>
Item 5. Interest in Securities of the Issuer
The ownership by the Reporting Persons of shares of Common Stock and the
percentage of the outstanding shares of Common Stock represented thereby is as
follows:
<TABLE>
<CAPTION>
Name Number of Shares Percentage
<S> <C> <C>
Andrew Wiederhorn 608,689(1) 5.3%
Tiffany Wiederhorn 608,689(2) 5.3%
TTMM, L.P. 100,000 0.8%
<FN>
______
(1) Includes 608,689 shares of Common Stock owned by the other Reporting
Persons. Andrew Wiederhorn shares voting and dispositive power with
respect to the shares of Common Stock owned by the other Reporting
Persons and may be deemed to be the beneficial owner of all such
shares. Andrew Wiederhorn disclaims beneficial ownership of any of the
shares of Common Stock owned by the other Reporting Persons. Also
includes 13,632 shares of Common Stock owned by Andrew and Tiffany
Wiederhorn's minor children. Andrew Wiederhorn shares voting and
dispositive power with respect to such shares of Common Stock and may
be deemed to be the beneficial owner of such shares. Andrew Wiederhorn
disclaims beneficial ownership of such shares of Common Stock.
(2) Includes 100,000 shares of Common Stock owned by TTMM, L.P. Tiffany
Wiederhorn shares voting and dispositive power with respect to the
shares of Common Stock owned by TTMM, L.P. and may be deemed to be the
beneficial owner of such shares. Tiffany Wiederhorn disclaims
beneficial ownership of such shares of Common Stock. Also Includes
13,632 shares of Common Stock owned by Andrew and Tiffany Wiederhorn's
minor children. Tiffany Wiederhorn shares voting and dispositive power
with respect to such shares of Common Stock and may be deemed to be
the beneficial owner of such shares. Tiffany Wiederhorn disclaims
beneficial ownership of such shares of Common Stock.
</FN>
</TABLE>
<PAGE>
Signature
After reasonable inquiry and to the best of knowledge and belief of each
person or entity set forth below, each such person or entity, certifies that the
information set forth in this Statement is true, complete and correct.
May 12, 1999 ______________________________
Andrew Wiederhorn
May 12, 1999 *______________________________
Tiffany Wiederhorn
May 12, 1999 TTMM, LP
By: IVY CAPITAL PARTNERS, L.P.,
its general partner
By: WIEDERHORN FAMILY LIMITED
PARTNERSHIP, its general partner
By:*________________________
Tiffany Wiederhorn,
its general partner
* By:_______________________________
Andrew A. Wiederhorn
Attorney-in-fact
