<PAGE>
UNITED STATES
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. ______)
Property Capital Trust, Inc.
(Name of issuer)
Common Stock, $.01 par value per share
(Title of class of securities)
74343M102
(CUSIP number)
Robert L. Beal
c/o The Beal Companies, LLP
177 Milk Street
Boston, MA 02109
(617) 451-2100
(Name, address and telephone number of person authorized
to receive notices and communications)
May 28, 1999
(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), 13d-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.
(Continued on following pages)
(Page 1 of 10 Pages)
________________________________
*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
disclosures 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 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>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 74343M102 PAGE 2 OF 10 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D.F.I. Limited Partnership
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Massachusetts
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 41,234
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 41,234
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
41,234
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
8.6%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 74343M102 PAGE 3 OF 10 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Eleanor M. Leventhal
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
41,234
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
41,234
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
41,234
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [X]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
8.6%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 74343M102 PAGE 4 OF 10 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John Leventhal
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
41,234
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
41,234
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
41,234
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [X]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
8.6%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 74343M102 PAGE 5 OF 10 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David M. Leventhal
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
41,234
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
41,234
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
41,234
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [X]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
8.6%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 74343M102 PAGE 6 OF 10 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard M. Leventhal
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
41,234
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
41,234
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
41,234
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [X]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
8.6%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
<PAGE>
Page 7 of 10 Pages
Item 1. Security of the Issuer.
----------------------
The securities to which this statement relates are the Common Stock, par
value $.01 per share (the "Common Stock"), of Property Capital Trust, Inc., a
Maryland corporation (the "Company"). The principal executive offices of the
Company are located at 177 Milk Street, Boston, Massachusetts 02109.
Item 2. Identity and Background.
-----------------------
This statement is being filed jointly on behalf of D.F.I. Limited
Partnership, a Massachusetts limited partnership (the "Partnership), and Eleanor
M. Leventhal, John Leventhal, David M. Leventhal and Richard M. Leventhal, each
a general partner of the Partnership (the "General Partners" and together with
the Partnership, the "Reporting Persons").
The business address or principal office address of the Partnership is as
follows: 177 Milk Street, Boston, Massachusetts 02109. The principal business
of the Partnership is real estate investment.
The names, business addresses and present principal occupations and the
names and principal business addresses of the employers of each General Partner
are set forth below:
Eleanor M. Leventhal is unemployed and resides at 20 Drumlin Road, Newton
Centre, Massachusetts 02459. John Leventhal is a physician with the Yale
University Department of Pediatrics located at 333 Cedar Street, New Haven,
Connecticut 06510. David M. Leventhal is an architect with Kohn Pedersen Fox
Associates located at 13 Langley Street, London, England WC2H9JG. Richard M.
Leventhal is an anthropologist with the UCLA Department of Anthropology located
at Haines Hall - 405 Hilgard Avenue, Los Angeles, California 90024.
During the last five years, none of the Reporting Persons has been
convicted in any criminal proceeding (excluding traffic violations or similar
misdemeanors) or has been a party to any 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 violations with respect to such laws.
Each of the General Partners is a citizen of the United States.
The Reporting Persons are filing this statement because such Reporting
Persons may be deemed to be members of a group for purposes of Section 13(d) of
the Securities Exchange Act of 1934, as amended (the "Exchange Act").
<PAGE>
Page 8 of 10 Pages
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
On May 26, 1999, Framingham York Associates Limited Partnership, a
Massachusetts limited partnership ("FYA"), purchased an aggregate of 319,489
shares of Common Stock of the Company in exchange for $1 million in cash.
Immediately following such purchase, FYA distributed such shares to its partners
based on their pro rata percentage interests in FYA. The Partnership was a
limited partner of FYA and received 41,234 shares of the Common Stock of the
Company (the "Securities"), representing its pro rata percentage interest in
FYA, in such distribution.
Item 4. Purpose of Transaction.
----------------------
The Reporting Persons acquired the Securities for investment purposes.
From time to time, the Reporting Persons may acquire additional shares of Common
Stock of the Company or may dispose of the Securities, depending on various
factors, including, but not limited to, general economic and business
conditions, monetary and stock market conditions and future developments
affecting the Reporting Person or the Company. Except as set forth above, the
Reporting Persons do not have any present plan or proposal to take any action
enumerated in the instructions to Item 4 of Schedule 13D under the Exchange Act.
Item 5. Interest in Securities of the Issuer.
------------------------------------
(a) Amount Beneficially Owned:
As of the date hereof, the Reporting Persons directly or indirectly
own 41,234 shares of Common Stock of the Company. Based upon there
being approximately 479,226 shares of Common Stock outstanding
(includes the number of shares directly or indirectly and beneficially
owned by the Reporting Persons), the Reporting Persons directly or
indirectly and beneficially own approximately 8.6% of such outstanding
shares. Pursuant to Rule 13d-4 of the Exchange Act, each of the
General Partners disclaims beneficial ownership of the Securities
except to the extent of his or her respective pecuniary interest
therein.
(b) The responses of the Reporting Persons to Items 7 through 11 of the
cover pages to this statement relating to the beneficial ownership of
shares of Common Stock of the Company are incorporated herein by
reference.
(c) Other than as otherwise described herein, the Reporting Persons have
not effected any transactions in the Common Stock of the Company
during the preceding 60 days.
(d) Not applicable
(e) Not applicable
<PAGE>
Page 9 of 10 Pages
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
---------------------------------------------------------------------
to Securities of the Issuer.
---------------------------
None
Item 7. Material to be Filed as Exhibits.
--------------------------------
None
* * *
This statement speaks as of its date, and no inference should be drawn that
no change has occurred in the facts set forth herein after the date hereof.
<PAGE>
Page 10 of 10 Pages
SIGNATURES
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: July 14, 1999
D.F.I. LIMITED PARTNERSHIP
By: /s/ Robert L. Beal
--------------------------------
Name: Robert L. Beal
Title: Manager
/s/ Eleanor M. Leventhal
- ------------------------------------
Eleanor M. Leventhal
/s/ John Leventhal
- ------------------------------------
John Leventhal
/s/ David M. Leventhal
- ------------------------------------
David M. Leventhal
/s/ Richard M. Leventhal
- ------------------------------------
Richard M. Leventhal
