SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)
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BALCOR EQUITY PROPERTIES LTD.--VIII
(Name of Issuer)
LIMITED PARTNERSHIP INTERESTS
(Title of Class of Securities)
NONE
(Cusip Number of Class of Securities)
JOHN K. LINES, ESQ.
GENERAL COUNSEL AND SECRETARY
INSIGNIA FINANCIAL GROUP, INC.
ONE INSIGNIA FINANCIAL PLAZA
GREENVILLE, SOUTH CAROLINA 29602
(803) 239-1675
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 17, 1996
(Date of Event Which Requires Filing of this Statement)
------------------------------------
Page 1 of 7 Pages
(no exhibits are filed herewith)
<PAGE>
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CUSIP No. None 13D Page 2 of 7 Pages
------------- ----- -----
- ----------------------- -------------------------
- ------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. OR I.R.S. Identification Nos. of Above Persons
INSIGNIA FINANCIAL GROUP, INC.
- ------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group (a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3 SEC Use Only
- ------------------------------------------------------------------------------
4 Source of Funds
NOT APPLICABLE
- ------------------------------------------------------------------------------
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
0
---------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY 2,046.625
OWNED BY ---------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON WITH 0
---------------------------------------------------------
10 Shared Dispositive Power
2,046.625
- ------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
3,619
- ------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares [ ]
- ------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
12.1% (Based on 30,005 Interests reported as
outstanding as of December 31, 1995)
- ------------------------------------------------------------------------------
14 Type of Reporting Person
CO
- ------------------------------------------------------------------------------
<PAGE>
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CUSIP No. None 13D Page 3 of 7 Pages
------------- ----- -----
- ----------------------- -------------------------
- ------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. OR I.R.S. Identification Nos. of Above Persons
MAP VII ACQUISITION CORPORATION
- ------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group (a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3 SEC Use Only
- ------------------------------------------------------------------------------
4 Source of Funds
NOT APPLICABLE
- ------------------------------------------------------------------------------
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
0
---------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY 2,046.625
OWNED BY --------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON WITH 0
---------------------------------------------------------
10 Shared Dispositive Power
2,046.625
- ------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
3,619
- ------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares [ ]
- ------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
12.1% (Based on 30,005 Interests reported as
outstanding as of December 31, 1995)
- ------------------------------------------------------------------------------
14 Type of Reporting Person
CO
- ------------------------------------------------------------------------------
<PAGE>
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CUSIP No. None 13D Page 4 of 7 Pages
------------- ----- -----
- ----------------------- -------------------------
- ------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. OR I.R.S. Identification Nos. of Above Persons
METROPOLITAN ACQUISITION VII, L.L.C.
- ------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group (a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3 SEC Use Only
- ------------------------------------------------------------------------------
4 Source of Funds
NOT APPLICABLE
- ------------------------------------------------------------------------------
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
0
---------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY 2,046.625
OWNED BY ---------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON WITH 0
---------------------------------------------------------
10 Shared Dispositive Power
2,046.625
- ------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
3,619
- ------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares [ ]
- ------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
12.1% (Based on 30,005 Interests reported as
outstanding as of December 31, 1995)
- ------------------------------------------------------------------------------
14 Type of Reporting Person
OO
- ------------------------------------------------------------------------------
<PAGE>
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CUSIP No. None 13D Page 5 of 7 Pages
------------- ----- -----
- ----------------------- -------------------------
- ------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. OR I.R.S. Identification Nos. of Above Persons
FMG ACQUISITION I, L.L.C.
- ------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group (a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3 SEC Use Only
- ------------------------------------------------------------------------------
4 Source of Funds
NOT APPLICABLE
- ------------------------------------------------------------------------------
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
0
---------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY 2,046.625
OWNED BY ---------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON WITH 0
---------------------------------------------------------
10 Shared Dispositive Power
2,046.625
- ------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
3,619
- ------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares [ ]
- ------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
12.1% (Based on 30,005 Interests reported as
outstanding as of December 31, 1995)
- ------------------------------------------------------------------------------
14 Type of Reporting Person
OO
- ------------------------------------------------------------------------------
<PAGE>
AMENDMENT NO. 3 TO SCHEDULE 13D
This Statement, which is being filed jointly by Insignia Financial
Group, Inc. ("Insignia"), MAP VII Acquisition Corporation ("MAP"),
Metropolitan Acquisition VII, L.L.C. ("Metropolitan") and FMG Acquisition I,
L.L.C. ("FMG"), constitutes (i) Amendment No. 3 to the Statement on Schedule
13D relating to the Interests originally filed by Insignia and FMG with the
Commission on January 3, 1996, as supplemented and amended (with respect to
Insignia) by Amendment No. 1 thereto filed by Insignia with the Commission on
March 11, 1996, and as supplemented and amended (with respect to FMG) by
Amendment No. 1 thereto filed by FMG with the Commission on March 11, 1996,
and as supplemented and amended (with respect to both Insignia and FMG) by
Amendment No. 2 thereto filed with the Commission on May 13, 1996; and (ii)
Amendment No. 1 to the Statement on Schedule 13D relating to the Interests
originally filed by Metropolitan and MAP with the Commission on May 13, 1996
(collectively, the "Statements").
Item 5 of the Statements is hereby amended and supplemented to
include the following:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
As previously disclosed in the Statements, FMG owns a 25% general
partner interest in WIG VIII Partners, which is the record owner of 2,096.5
Interests. Insignia owned a 99% equity interest in FMG and Insignia Commercial
Group, Inc. ("ICG"), which is a wholly-owned subsidiary of Insignia, owned the
remaining 1% equity interest in FMG. Effective as of May 17, 1996, Insignia
transferred its 99% equity interest in FMG to Metropolitan and ICG transferred
its 1% equity interest in FMG to MAP. As a result of the foregoing transfers,
Insignia and ICG no longer have any direct interest in FMG. However, because
Insignia controls both MAP and Metropolitan, Insignia continues to control
FMG.
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<PAGE>
SIGNATURES
After due inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: May 17, 1996
INSIGNIA FINANCIAL GROUP, INC.
By:/s/ FRANK M. GARRISON
-----------------------------------
Frank M. Garrison
Executive Managing Director
MAP VII ACQUISITION CORPORATION
By:/s/ JEFFREY L. GOLDBERG
-----------------------------------
Jeffrey L. Goldberg
Vice President
METROPOLITAN ACQUISITION VII, L.L.C.
By: MAP VII ACQUISITION CORPORATION,
its managing member
By:/s/ JEFFREY L. GOLDBERG
-----------------------------------
Jeffrey L. Goldberg
Vice President
FMG ACQUISITION I, L.L.C.
By:/s/ JEFFREY L. GOLDBERG
-----------------------------------
Jeffrey L. Goldberg
President
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