FORM 3
OMB APPROVAL
OMB Number: 3235-0104
Expires: September 30, 1998
Estimated average burden
hours per response.......0.5
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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 (Print or Type Responses)
1. Name and Address of Reporting Person*
Friedman, Billings, Ramsey Group, Inc. ("FBRG")
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(Last) (First) (Middle)
1001 19th Street North
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(Street)
Arlington Virginia 22209
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(City) (State) (Zip)
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2. Date of Event Requiring Statement Month/Date/Year)
2/19/98
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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
Capital Automotive REIT (NASDAQ/"CARS")
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
Director X 10% Owner
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Officer (give title below) Other (specify below)
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6. If Amendment, Date of Original
(Month/Date/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
Form filed by One Reporting Person
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X Form filed by More than One Reporting Person
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<TABLE>
Table I -- Non-Derivative Securities Beneficially Owned
<S> <C>
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect Beneficial
(Instr. 4) Beneficially Owned Direct (D) or Ownership (Instr. 5)
(Instr. 4) Indirect (I)
(Instr.5)
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Common Shares of Beneficial Interest 1,792,115 I (1)(2)
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Over)
*If the Form is filed by more than one Reporting Person, see instruction
5(b)(v). SEC 1473 (7-96)
Copyright (C) 1996 Executive Press, Inc.
<PAGE>
FORM 3 (continued) Table II -- Derivative Securities Beneficially Owned
No. 18B (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivative Security
(Instr. 4)
Warrants (right to buy)
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2. Date Exercisable and Expiration Date
(Month/Day/ Year)
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Date Exercisable Expiration Date
2/19/98 2/19/2003
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3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
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Title Amount or Number of Shares
Common Shares of 1,277,794
Beneficial Interest
4. Conversion or Exercise Price of Derivative Security
$15.00
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5. Ownership Form of Derivative Security:
Direct (D) or Indirect (I)
(Instr. 5)
I
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6. Nature of Indirect Beneficial Ownership
(Instr. 5)
(3)(4)
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Explanation of Responses:
(1) These Shares are directly owned by FBR Asset Investment Corporation
("FBRAIC"). These Shares may be deemed to be indirectly beneficially owned
(as defined in Rule 13d-3 promulgated under the Securities Exchange Act of
1934, as amended) by FBRG; Friedman, Billings, Ramsey Group, Inc. Voting
Trust ("FBRVT"); Eric F. Billings ("Mr. Billings"); Emanuel J. Friedman
("Mr. Friedman"); and W. Russell Ramsey ("Mr. Ramsey").
(2) Each of the following reporting persons disclaim beneficial ownership of
these securities, and this report shall not be deemed an admission that the
reporting person is the beneficial owner of such securities for purposes of
Section 16 or for any other purpose: FBRG, FBRVT, Mr. Billings, Mr.
Friedman, Mr. Ramsey.
(3) These warrants are directly held by Friedman, Billings, Ramsey & Co., Inc.
These warrants may be deemed to be indirectly beneficially owned (as
defined in Rule 13d-3 promulgated under the Securities Exchange Act of
1934, as amended) by FBRG, FBRVT, Mr. Billings, Mr. Friedman, and Mr.
Ramsey.
(4) Each of the following reporting persons disclaim beneficial ownership of
these securities, and this report shall not be deemed an admission that the
reporting person is the beneficial owner of such securities for purposes of
Section 16 or for any other purpose: FBRG, FBRVT, Mr. Billings, Mr.
Friedman, Mr. Ramsey.
/s/ Eric F. Billings 03/05/98
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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 Page 2 required to respond unless the form displays a
currently valid OMB Number. SEC 1473 (7-96)
</TABLE>
<PAGE>
JOINT FILER INFORMATION
Name: Friedman, Billings, Ramsey Group, Inc. Voting Trust
Address: 1001 19th Street North
Arlington, Virginia 22209
Designated Filer: Friedman, Billings, Ramsey Group, Inc.
Issuer and Ticker Symbol: Capital Automotive REIT ("CARS")
Date of Event Requiring Statement: 2/19/98
Signature: /s/ Eric F. Billings
Eric F. Billings
Trustee
Signature: /s/ Emanuel J. Friedman
Emanuel J. Friedman
Trustee
Signature: /s/ W. Russel Ramsey
W. Russel Ramsey
Trustee
Name: Eric F. Billings
Address: 1001 19th Street North
Arlington, Virginia 22209
Designated Filer: Friedman, Billings, Ramsey Group, Inc.
Issuer and Ticker Symbol: Capital Automotive REIT ("CARS")
Date of Event Requiring Statement: 2/19/98
Signature: /s/ Eric F. Billings
Eric F. Billings
<PAGE>
Name: Emanuel J. Friedman
Address: 1001 19th Street North
Arlington, Virginia 22209
Designated Filer: Friedman, Billings, Ramsey Group, Inc.
Issuer and Ticker Symbol: Capital Automotive REIT ("CARS")
Date of Event Requiring Statement: 2/19/98
Signature: /s/ Emanuel J. Friedman
Emanuel J. Friedman
Name: W. Russell Ramsey
Address: 1001 19th Street North
Arlington, Virginia 22209
Designated Filer: Friedman, Billings, Ramsey Group, Inc.
Issuer and Ticker Symbol: Capital Automotive REIT ("CARS")
Date of Event Requiring Statement: 2/19/98
Signature: /s/ W. Russell Ramsey
W. Russell Ramsey
