<PAGE>
Securities and Exchange Commission
Washington, D.C. 20549
AMENDMENT NO. 4
TO
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)
Entertainment Properties Trust
----------------------------------------------------------------------------
(Name of Issuer)
Common Shares of Beneficial Interest, par value $.01 per share
----------------------------------------------------------------------------
(Title of Class of Securities)
293805105
----------------------------------------------------------------------------
(CUSIP Number)
----------------------------------------------------------------------------
Simeon Brinberg
60 Cutter Mill Road, Great Neck, New York 11021 516-466-3100
----------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
----------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule l3G to
report the acquisition that is the subject of this Schedule l3D, and is filing
this schedule because of Rule l3d-l(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 l3d-7 for other
parties to whom copies are to be sent.
Page 1 of 19 Pages
<PAGE>
Page 2 of 19 Pages
Cusip No. 293805105
-----------------------------------------------------------------
l. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BRT Realty Trust- 13-2755856
-----------------------------------------------------------------
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
Massachusetts
-----------------------------------------------------------------
7. SOLE VOTING POWER - 1,355,600
NUMBER OF _____________________________________________
SHARES 8. SHARED VOTING POWER -
BENEFICIALLY ____________________________________________
OWNED BY 9. SOLE DISPOSITIVE POWER - 1,355,600
EACH _____________________________________________
REPORTING 10. SHARED DISPOSITIVE POWER -
PERSON WITH _____________________________________________
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON - 1,355,600
-----------------------------------------------------------------
12. CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.24%
-----------------------------------------------------------------
14. TYPE OF
REPORTING PERSON*
OO
<PAGE>
Page 3 of 19 Pages
Cusip No. 293805105
l. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gould Investors L.P. - 11-2763164
-----------------------------------------------------------------
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
Delaware
-----------------------------------------------------------------
7. SOLE VOTING POWER - 1,500
NUMBER OF _____________________________________________
SHARES 8. SHARED VOTING POWER - 28,500 (1)
BENEFICIALLY _____________________________________________
OWNED BY 9. SOLE DISPOSITIVE POWER - 1,500
EACH _____________________________________________
REPORTING 10. SHARED DISPOSITIVE POWER - 28,500 (1)
PERSON WITH _____________________________________________
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON - 30,000 (1)
-----------------------------------------------------------------
12. CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
-----------------------------------------------------------------
<PAGE>
Page 4 of 19 Pages
14. TYPE OF
REPORTING PERSON*
PN
(1) Gould Investors L.P. is a member of SASS/Gould Real Estate Securities LLC, a
limited liability company, which is the succesor to SASS/Gould REIT Partners. An
affiliate of Gould Investors L.P. is a sub-advisor to the Managing Member of the
limited liability company. Gould Investors L.P. may be deemed to have shared
voting and shared dispositive power with respect to the shares owned by
SASS/Gould Real Estate Securities LLC.
<PAGE>
Page 5 of 19 Pages
Cusip No. 293805105
l. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ONE LIBERTY PROPERTIES, INC. - 13-3147497
-----------------------------------------------------------------
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
MARYLAND
-----------------------------------------------------------------
7. SOLE VOTING POWER - 2,625
NUMBER OF _____________________________________________
SHARES 8. SHARED VOTING POWER -
BENEFICIALLY ____________________________________________
OWNED BY 9. SOLE DISPOSITIVE POWER - 2,625
EACH _____________________________________________
REPORTING 10. SHARED DISPOSITIVE POWER -
PERSON WITH _____________________________________________
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON - 2,625
-----------------------------------------------------------------
12. CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
-----------------------------------------------------------------
14. TYPE OF
REPORTING PERSON *
CO
<PAGE>
Page 6 of 19 Pages
Cusip No. 293805105
l. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SASS/GOULD Real Estate Securities LLC (1)
-----------------------------------------------------------------
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
-----------------------------------------------------------------
7. SOLE VOTING POWER - 28,500
NUMBER OF _____________________________________________
SHARES 8. SHARED VOTING POWER -
BENEFICIALLY ____________________________________________
OWNED BY 9. SOLE DISPOSITIVE POWER - 28,500
EACH _____________________________________________
REPORTING 10. SHARED DISPOSITIVE POWER -
PERSON WITH _____________________________________________
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON - 28,500
-----------------------------------------------------------------
12. CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
---------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
-----------------------------------------------------------------
14. TYPE OF
REPORTING PERSON*
OO
(1) Successor to SASS/Gould REIT Partners.
<PAGE>
Page 7 of 19 Pages
Cusip No. 293805105
l. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fredric H. Gould and Fredric H. Gould Spousal IRA ###-##-####
-----------------------------------------------------------------
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
-----------------------------------------------------------------
7. SOLE VOTING POWER - 2,112 (1)
NUMBER OF _____________________________________________
SHARES 8. SHARED VOTING POWER - 1,388,225 (2)
BENEFICIALLY _____________________________________________
OWNED BY 9. SOLE DISPOSITIVE POWER - 2,112 (1)
EACH ______________________________________________
REPORTING 10. SHARED DISPOSITIVE POWER - 1,388,225 (2)
PERSON WITH _____________________________________________
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON - 1,390,337
-----------------------------------------------------------------
12. CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 9.48%
-----------------------------------------------------------------
14. TYPE OF
REPORTING PERSON*
IN
NOTE: - (1) The 2,112 shares includes 1,850 shares owned by Fredric H. Gould,
individually, and 262 shares owned by Fredric H. Gould Spousal IRA.
Page 8 of 19 Pages
(2) Fredric H. Gould is Chairman of the Board and Chief Executive Officer of BRT
Realty Trust, a General Partner of Gould Investors L.P. and Chairman of the
Board and Chief Executive Officer of One Liberty Properties, Inc. Gould
Investors L.P. is a member of SASS/Gould Real Estate Securities LLC and an
affiliate of Gould Investors L.P. is the sub-advisor to the limited liability
company. Mr. Gould may be deemed to have shared voting and shared dispositive
power as to the Common Shares of the Company owned by these entities.
<PAGE>
Page 9 of 19 Pages
Cusip No. 293805105
l. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Helaine Gould - ###-##-####
-----------------------------------------------------------------
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
-----------------------------------------------------------------
7. SOLE VOTING POWER - 1,000
NUMBER OF _____________________________________________
SHARES 8. SHARED VOTING POWER -
BENEFICIALLY ____________________________________________
OWNED BY 9. SOLE DISPOSITIVE POWER - 1,000
EACH _____________________________________________
REPORTING 10. SHARED DISPOSITIVE POWER -
PERSON WITH _____________________________________________
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON - 1,000
-----------------------------------------------------------------
12. CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
-----------------------------------------------------------------
14. TYPE OF
REPORTING PERSON*
IN
<PAGE>
Page 10 of 19 Pages
Cusip No. 293805105
l. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jeffrey Gould - ###-##-####
-----------------------------------------------------------------
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
-----------------------------------------------------------------
7. SOLE VOTING POWER - 300
NUMBER OF _____________________________________________
SHARES 8. SHARED VOTING POWER - 1,355,600 (1)
BENEFICIALLY _____________________________________________
OWNED BY 9. SOLE DISPOSITIVE POWER - 300
EACH _____________________________________________
REPORTING 10. SHARED DISPOSITIVE POWER - 1,355,600 (1)
PERSON WITH _____________________________________________
-
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON - 1,355,900
-----------------------------------------------------------------
12. CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.24%
-----------------------------------------------------------------
14. TYPE OF
REPORTING PERSON*
IN
(1) Jeffrey Gould is President of BRT Realty Trust. Accordingly, he may be
deemed to have shared voting and shared dispositive power over the shares owned
by BRT Realty Trust.
<PAGE>
Page 11 of 19 Pages
Cusip No. 293805105
l. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Matthew Gould - ###-##-####
-----------------------------------------------------------------
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
-----------------------------------------------------------------
7. SOLE VOTING POWER - 350
NUMBER OF _____________________________________________
SHARES 8. SHARED VOTING POWER - 30,000 (1)
BENEFICIALLY _____________________________________________
OWNED BY 9. SOLE DISPOSITIVE POWER - 350
EACH _____________________________________________
REPORTING 10. SHARED DISPOSITIVE POWER - 30,000(1)
PERSON WITH _____________________________________________
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON - 30,350
-----------------------------------------------------------------
12. CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
-----------------------------------------------------------------
14. TYPE OF
REPORTING PERSON*
IN
(1) Matthew Gould is President of the managing corporate general partner of
Gould Investors L.P. Accordingly, he may be deemed to have shared voting and
shared dispositive power over the shares owned by Gould Investors L.P. and the
shares owned by SASS/Gould Real Estate Securities LLC.
<PAGE>
Page 12 of 19 Pages
Cusip No. 293805105
l. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Israel Rosenzweig - ###-##-#### and Zehavit Rosenzweig,
as joint tenants.
-----------------------------------------------------------------
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
-----------------------------------------------------------------
7. SOLE VOTING POWER - 1,000
NUMBER OF _____________________________________________
SHARES 8. SHARED VOTING POWER -
BENEFICIALLY ____________________________________________
OWNED BY 9. SOLE DISPOSITIVE POWER - 1,000
EACH _____________________________________________
REPORTING 10. SHARED DISPOSITIVE POWER -
PERSON WITH _____________________________________________
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON - 1,000
-----------------------------------------------------------------
12. CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
-----------------------------------------------------------------
14. TYPE OF
REPORTING PERSON*
IN
<PAGE>
Page 13 of 19 Pages
Cusip No. 293805105
l. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Israel Rosenzweig - Keogh Account, 068-52-3463 and Israel
Rosenzweig as custodian for Alon Rosenzweig under New York Uniform Gift to
Minors Act - ###-##-####.
-----------------------------------------------------------------
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
-----------------------------------------------------------------
7. SOLE VOTING POWER - 4,300
NUMBER OF _____________________________________________
SHARES 8. SHARED VOTING POWER -
BENEFICIALLY ____________________________________________
OWNED BY 9. SOLE DISPOSITIVE POWER - 4,300
EACH _____________________________________________
REPORTING 10. SHARED DISPOSITIVE POWER -
PERSON WITH _____________________________________________
-----------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON - 4,300
-----------------------------------------------------------------
12. CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
-----------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
-----------------------------------------------------------------
14. TYPE OF
REPORTING PERSON*
IN
NOTE: The 4,300 shares includes 4,100 shares held in a Keogh Account established
by Mr.Rosenzweig and 200 shares are held by him as a custodian for his son.
<PAGE>
Page 14 of 19 Pages
This Amendment amends and supplements Schedule 13D filed with the Securities and
Exchange Commission on March 13, 2000, as amended to date. Except as amended by
this amendment, there has been no change in the information previously reported
on Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration
As of the date hereof BRT has purchased a total of 1,355,600 Common Shares of
the Company at an aggregate cost of $17,806,407. The funds used to make these
purchases came from BRT's working capital. In May, 1999, BRT entered into a
$45,000,000 Revolving Credit Agreement with TransAmerica Business Credit Corp.
("TransAmerica") which permits borrowings on a revolving basis. Any borrowings
under the Revolving Credit Agreement must be secured by mortgage receivables or
real property. No funds were drawn down under this Credit Agreement to purchase
Common Shares of the Company.
Item 4. Purpose of Transaction
BRT presently intends to purchase additional Common Shares of the Company in the
open market, subject to availability at prices deemed favorable. It also
reserves the right not to purchase any additional shares and to dispose of
shares of the Company in the future.
By letter dated May 31, 2000 to the Board of Trustees of the Company, BRT
requested that the Board of Trustees exempt BRT and the members of the group
from the ownership limitations contained in the Company's Amended and Restated
Declaration of Trust. A copy of the letter was filed as an Exhibit to Amendment
No. 3 to Schedule 13D.
On September 6, 2000, in a letter to the Company's President, BRT advised that
to date BRT has not received an affirmative or negative response to its May 31,
2000 request for an exemption from the ownership limitations and that lack of an
affirmative response acts exactly the same as a negative response, in that BRT
and the members of the group are limited in the number of additional shares of
the Company it can purchase.
BRT's letter goes on to state that the lack of a positive response has and
continues to be a burden on the Company's shareholders in that in all
probability, the precipitous decline of the Company's stock price would not have
taken place if BRT had been granted the exemption and been allowed to purchase
additional shares of the Company in the open market. A copy of BRT's letter to
the Company's President is attached to this Amendment No. 4 as an Exhibit.
<PAGE>
Page 15 of 19 Pages
BRT's September 6, 2000 letter makes reference to a number of discussions
(telephonic) with the Company's President. In such discussions, BRT's Chairman
and Chief Executive Officer, Fredric H. Gould, reiterated BRT's willingness, and
in fact its desire, to make a more significant investment in the Company and to
have its designees serve as directors of the Company.
Item 5. Interest in Securities of the Issuer
BRT owns, as of this date, 1,355,600 Common Shares of the Company, constituting
approximately 9.24% of the 14,679,547 Common Shares outstanding.
In the aggregate, BRT, the Partnership, OLP, Sass/Gould, Fredric H. Gould,
individually and in his Spousal IRA, Helaine Gould, Matthew Gould, Jeffrey Gould
and Israel Rosenzweig, who are filing as a group, own 1,397,287 Common Shares in
the aggregate, or 9.52% of the outstanding Common Shares of the Company.
The following table sets forth transactions in the Common Shares of the Company
effected by BRT since filing Amendment No. 3 to Schedule 13D. All shares were
purchased in open market purchases over the facilities of The New York Stock
Exchange.
DATE OF # OF PRICE
PURCHASE SHARES PER SHARE
-------- ------ ---------
06/06/2000 4,000 13.6875
06/07/2000 1,200 13.5625
06/07/2000 500 13.6250
06/09/2000 1,000 13.6875
06/12/2000 500 13.8750
06/12/2000 1,000 13.75
06/12/2000 1,000 13.8125
07/31/2000 6,000 12.1250
07/31/2000 1,800 12.1875
<PAGE>
Page 16 of 19 Pages
Except as set forth herein, BRT, its executive officers and trustees, the
Partnership, its general partners (including officers and directors of its
corporate general partner), OLP, its officers and directors, Sass/Gould and its
managing member and sub-advisor, Fredric H. Gould, Helaine Gould, Matthew Gould,
Jeffrey Gould, Israel Rosenzweig and Zehavit Rosenzweig (i) do not own or have
the right to acquire, directly or indirectly, any Common Shares of the Company;
and (ii) have not in the past sixty (60) days effected any transactions in
Common Shares of the Company.
Item 7. Exhibit (1) (a) Agreement to file jointly. Filed with Schedule 13D.
(b) Power of Attorney. Filed with Schedule 13D.
(2) Letter dated May 31, 2000 from BRT Realty Trust to the
Board of Trustees of the Company. Filed with Amendment
No. 3 to Schedule 13D.
(3) Letter dated September 7, 2000 from BRT Realty Trust to
the President of the Company. Filed with Amendment No.
4 to Schedule 13D.
<PAGE>
Page 17 of 19 Pages
Signature
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this amendment to the statement is true,
complete and correct.
Dated: September 7, 2000
BRT REALTY TRUST s/Fredric H. Gould
---------------------
Fredric H. Gould
By s/Jeffrey Gould
---------------------
Jeffrey Gould, s/Fredric H. Gould
President ---------------------
Fredric H. Gould Spousal
IRA
GOULD INVESTORS L.P. s/Helaine Gould
By: GEORGETOWN PARTNERS, INC. ---------------------
MANAGING GENERAL PARTNER By:Simeon Brinberg, Attorney in Fact
------------------------------------
By: s/Simeon Brinberg Helaine Gould
---------------------------- s/Matthew Gould
Simeon Brinberg, ---------------------
Senior Vice President Matthew Gould
s/Jeffrey Gould
---------------------
ONE LIBERTY PROPERTIES, INC. Jeffrey Gould
By: s/Mark H. Lundy s/Israel Rosenzweig
------------------------ ---------------------
Mark H. Lundy, Israel Rosenzweig,
Secretary Individually and as
Custodian
s/Zehavit Rosenzweig
SASS/GOULD REAL ESTATE By: Simeon Brinberg,Attorney in Fact
SECURITIES LLC, ------------------------------------
BY: M.D. SASS INVESTORS Zehavit Rosenzweig
SERVICES, INC.
BY: s/Martin E. Winter
---------------------------
Martin E. Winter,
Senior Vice President
<PAGE>
Page 18 of 19 Pages
EXHIBIT
September 6, 2000 Fax 1-816-472-5794
Mr. David Brain
President
Entertainment Properties Trust
30 Pershing Road (Suite 201)
Kansas City, MO 64108
Dear David:
On May 31st, 2000, after a number of discussions with you, we sent a letter to
the Board of Trustees of Entertainment Properties Trust (EPR) in reference to
Article 9 of the Amended and Restated Declaration of Trust of EPR, which limits
ownership to 9.8% in number of shares or value of the outstanding shares of any
class of common stock or preferred stock of the Trust. At that time we indicated
that our "group", as a total, owned approximately 9.2% of the outstanding common
shares and, for reasons explained in detail in the May 31st letter, ownership by
BRT (and the group), would not adversely affect the 5 or fewer rule contained in
Section 856 of the Internal Revenue Code. We further stated that we wanted to
continue to purchase common shares and requested that the Board exempt BRT (and
the group) from the application of the ownership limitations set forth above.
To date, we have not received either an affirmative or negative response to the
above but the lack of an affirmative response acts exactly the same as a
negative response in that we remain limited in the number of additional shares
we can purchase. It has been in excess of three months since the letter was
received and we feel that a positive response certainly should have been
forthcoming within this time.
The lack of a positive response has and continues to burden the shareholders of
EPR whose shares, in the last 52 weeks, have fallen from a high of $16.25 to a
low of $10, a decline of $6.25 or approximately 38.5%. As indicated to you in
our letter of May 31st, we desire to continue to purchase common shares of EPR
and, had you allowed us to do so, in all probability, the precipitous decline
during a time period when most of the REIT stocks were increasing in value
simply would not have taken place. By neglecting to grant the requested waiver
your Board has caused and is continuing to cause financial hardships to your
shareholders.
<PAGE>
Page 19 of 19 Pages
We respectfully request that you grant the waiver requested in our May 31st,
2000 letter post haste, which will allow us to buy shares in the open market and
therefore stop the precipitous decline in market value to your shareholders.
In addition, two shareholders of BRT advised us that they called your office and
spoke to one, Jon Weis, who indicated he was the person responsible for investor
relations. When they asked Mr. Weis whether or not EPR was going to grant BRT
the right to purchase shares in excess of 9.8%, he responded by saying that "BRT
did not make a formal request to the Board". The dissemination of this
misinformation is not helpful. We all know that our letter of May 31st was
received by your organization and in a June 6th, 2000 13D Amendment we indicated
that the request was made. We respectfully request that you indicate to your
personnel the correct information so that no additional misinformation is
delivered to the public by your organization.
David, as indicated above, the continued lack of granting the waiver requested
simply is proving injurious to many of your shareholders who have seen the
market value of their shares fall precipitously. The Board's inattention to our
request indicates a lack of interest in the well-being of your shareholders.
Your prompt attention to the above will be greatly appreciated, not only by us
but by all of your shareholders.
Sincerely,
BRT REALTY TRUST
Fredric H. Gould
Chairman of the Board
(hard copy by mail)
cc: Simeon Brinberg
David Kalish
