<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
HUTTON/CONAM REALTY INVESTORS 81
(Name of Issuer)
UNITS REPRESENTING ASSIGNMENTS OF LIMITED PARTNERSHIP INTERESTS
(Title of Class of Securities)
------------------------
(CUSIP Number)
David I. Lesser
Everest Properties II, LLC
199 South Los Robles Avenue, Suite 440
Pasadena, California 91101
(626) 585-5920
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
November 24, 1997
(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 the statement[ ]. A fee
is not required only if the reporting 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).
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom Copies are to
be sent.
*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 ("Act") 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). SEC 1746 (12-91)
<PAGE>
SCHEDULE 13D
- ----------------- -------------------------------------------------------------
CUSIP No. PAGE 2 OF 12 PAGES
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Everest Properties, Inc.
Taxpayer ID No.: 95-4500468
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
3 SEC USE ONLY
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]4
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------- -------------------------------------------------------------
- ---------------------------- --------------------------------------------------
NUMBER OF SHARES 11 SOLE VOTING POWER
BENEFICIALLY OWNED BY EACH 3,558 Units
REPORTING PERSON WITH
12 SHARED VOTING POWER
13 SOLE DISPOSITIVE POWER
3,558 Units
14 SHARED DISPOSITIVE POWER
- ---------------------------- --------------------------------------------------
- ----------------- -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,558 Units
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN
SHARES [ ]5
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
Approximately 4.5% (Based on 78,290 Units reported
as outstanding as of June 30, 1997)
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ----------------- -------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT !
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------- -------------------------------------------------------------
CUSIP No. PAGE 3 OF 12 PAGES
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Everest Properties II, LLC
Taxpayer ID No.: 95-4599059
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
3 SEC USE ONLY
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]6
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------- -------------------------------------------------------------
- ---------------------------- --------------------------------------------------
NUMBER OF SHARES 15 SOLE VOTING POWER
BENEFICIALLY OWNED BY EACH 968 Units
REPORTING PERSON WITH
16 SHARED VOTING POWER
17 SOLE DISPOSITIVE POWER
968 Units
18 SHARED DISPOSITIVE POWER
- ---------------------------- --------------------------------------------------
- ----------------- -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
968 Units
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN
SHARES [ ]7
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
Approximately 1.2% (Based on 78,290 Units reported
as outstanding as of June 30, 1997)
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ----------------- -------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT !
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------- -------------------------------------------------------------
CUSIP No. PAGE 4 OF 12 PAGES
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Everest Investors, LLC
Taxpayer ID No.: 95-4519501
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
3 SEC USE ONLY
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]9
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------- -------------------------------------------------------------
- ---------------------------- --------------------------------------------------
NUMBER OF SHARES 19 SOLE VOTING POWER
BENEFICIALLY OWNED BY EACH 3,548 Units
REPORTING PERSON WITH
20 SHARED VOTING POWER
21 SOLE DISPOSITIVE POWER
3,548 Units
22 SHARED DISPOSITIVE POWER
- ---------------------------- --------------------------------------------------
- ----------------- -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,548 Units
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN
SHARES [ ]10
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
Approximately 4.5% (Based on 78,290 Units reported
as outstanding as of June 30, 1997)
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ----------------- -------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT !
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------- -------------------------------------------------------------
CUSIP No. PAGE 5 OF 12 PAGES
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
KM Investments, LLC
Taxpayer ID No.: 95-4599062
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
3 SEC USE ONLY
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]9
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------- -------------------------------------------------------------
- ---------------------------- --------------------------------------------------
NUMBER OF SHARES 19 SOLE VOTING POWER
BENEFICIALLY OWNED BY EACH 968 Units
REPORTING PERSON WITH
20 SHARED VOTING POWER
21 SOLE DISPOSITIVE POWER
968 Units
22 SHARED DISPOSITIVE POWER
- ---------------------------- --------------------------------------------------
- ----------------- -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
968 Units
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN
SHARES [ ]10
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7)
Approximately 1.2% (Based on 78,290 Units reported
as outstanding as of June 30, 1997)
- ----------------- -------------------------------------------------------------
- ----------------- -------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ----------------- -------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT !
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
This statement on Schedule 13D ("Statement") is filed by Everest Investors,
LLC, a California limited liability company and KM Investments, LLC, a
California limited liability company, and their managing members to report their
interest in units of limited partnership interest ("Units") in Hutton/ConAm
Realty Investors 81.
ITEM 1. SECURITY AND ISSUER.
(a) The name of the subject company is Hutton/ConAm Realty Investors 81, a
California limited partnership (the "Partnership"). The address of the
Partnership's principal executive offices is 388 Greenwich Street, New York, New
York 10013.
(b) The class of equity securities to which this Statement relates is the
Units.
ITEM 2. IDENTITY AND BACKGROUND.
Everest Investors, LLC is a California limited liability company organized
on February 28, 1995, and is engaged in the business of acquiring, holding,
owning, investing in and selling interests in real property, primarily in the
form of limited partnership interests. Its principal business address is 199
South Los Robles Avenue, Suite 440, Pasadena, California 91101. KM Investments,
LLC is a California limited liability company organized on September 18, 1996,
and is engaged in the business of acquiring, holding, owning, investing in and
selling interests in real property, primarily in the form of limited partnership
interests. Its principal business address is 199 South Los Robles Avenue, Suite
440, Pasadena, California 91101. Everest Properties II, LLC is a California
limited liability company organized on September 24, 1996, and is engaged in the
business of acquiring, holding, owning, investing in and selling interests in
real property, primarily in the form of limited partnership interests and
serving as the manager of KM Investments, LLC. Its principal business address is
199 South Los Robles Avenue, Suite 440, Pasadena, California 91101. Everest
Properties, Inc. is a California corporation organized on October 21, 1994, to
serve as the manager of companies engaged in real estate investments. Its
principal business address is 199 South Los Robles Avenue, Suite 440, Pasadena,
California 91101. During the last five years, none of the persons filing this
Statement nor, to the best of their knowledge, any of the persons listed in
Schedule I ("Directors and Officers") has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or was a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding any such person was or is
subject to a judgment, decree or final order enjoining further violations of, or
prohibiting activities subject to, federal or state securities laws or finding
any violation of such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Everest Investors, LLC obtained th funds to purchaes the Units reported on
this Statement from capital contributions by its members. KM Investments, LLC
obtained the funds to purchase the Units reported on this Statement from capital
contributions by its members.
<PAGE>
ITEM 4. PURPOSE OF TRANSACTION.
The parties filing this Statement believe that holding an interest in the
properties underlying the Units in an attractive investment at the prices at
which Units have been obtainable. They intend to monitor the status of such
properties and the real estate markets generally, and based upon the results of
such review and other economic considerations, including determine to acquire
additional Units, to sell Units now held, to seek to cause a sale of properties
held by the Partnership, to itself or third parties, or to seek changes in the
Partnership. On November 20, 1997, Everest Investors, LLC and KM Investments,
LLC agreed to share information with respect to the ownership and sale of their
Units of the Partnership. Except as specified above, at this time, the persons
filing this Statement do not have any specific plans or proposals which would
relate to, or would result in, any transaction, change or other occurrence with
respect to the Partnership or any transaction, change or other occurrence with
respect to the Partnership or the Units as is listed in paragraphs (a) through
(j) of Item 4 in Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Everest Investors, LLC presently holds 3,548 Units, or approximately 4.5%
of the outstanding Units, based upon the number of Units reported as outstanding
on June 30, 1997. These Units were acquired by an offer to purchase which began
on August 3, 1995, and closed September 8, 1995. The Partnership accepted the
transfer of these Units to Everest Investors, LLC effective October 1, 1995.
Everest Properties, Inc. owns, in its name, 10 Units which were acquired in
a private purchase transaction and respresent less than 0.1% of the outstanding
Units, based on the number of Units reported as outstanding on June 30, 1997.
KM Investments, LLC owns 968 Units which were acquired in private purchase
transactions and represent approximately 1.2% of the outstanding Units, based
upon the number of Units reported as outstanding on June 30, 1997.
As the manager of KM Investments, LLC, Everest Properties II, LLC may be
deemed to have beneficial ownership of the Units held by KM Investments, LLC,
even though the power to purchase or dispose of Units can be exercised only with
approval of the members. Everest Properties II, LLC also may be deemed to have
beneficial ownership of such Units because it owns a majority interest in the
majority member in KM Investments, LLC. Everest Properties, Inc. may be deemed
to have ownership of Units held by Everest Investors, LLC because it serves as
manager, even though the power to purchase or dispose of Units can be exercised
only with the approval of the members.
In the past sixty days, the parties have made the following purchases of
Units:
Purchaser Date Units Price Method
--------- ---- ----- ----- ------
KM Investments, LLC 10/16/97 100 $113.15 Private Purchase
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS WITH RESPECT TO
SECURITIES OF THE ISSUER.
The persons filing this Statement deny the existence of a group and
disclaim beneficial ownership of the Units held by the other persons filing this
Statement. This Statement is being filed as a precaution because the individuals
performing management services for Everest Properties, LLC and Everest
Properties II, LLC are substantially the same and such entities have agreed to
submit a joint proposal for the sale of their Units to the general partner of
the Partnership and share information regarding such proposal.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
7.a Agreement to share information regarding ownership and sale of Units.
<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: November 26, 1997
EVEREST INVESTORS, LLC
By: EVEREST PROPERTIES, Inc., Manager
By: /s/ W. ROBERT KOHORST
--------------------------
W. Robert Kohorst
President
KM INVESTMENTS, LLC
By: EVEREST PROPERTIES II, LLC, Manager
By: /s/ W. ROBERT KOHORST
--------------------------
W. Robert Kohorst
President
EVEREST PROPERTIES, INC.
By: /s/ W. ROBERT KOHORST
--------------------------
W. Robert Kohorst
President
EVEREST PROPERTIES II, LLC
By: /s/ W. ROBERT KOHORST
--------------------------
W. Robert Kohorst
President
<PAGE>
SCHEDULE I
DIRECTORS AND EXECUTIVE OFFICERS
Everest Investors, LLC is owned by its members. The members of Everest
Investors, LLC are Everest Properties, Inc., Imperial Creditcorp, Inc.,
MacKenzie Pattterson, Inc., W. Robert Kohorst and Koll Tender Corporation III.
Everest Properties, Inc., a California corporation, serves as manager and may be
regarded as controlling Everest Investors, LLC. W. Robert Kohorst owns a
controlling interest in Everest Properties, Inc. KM Investments, LLC is owned by
its members. The members of KM Investments, LLC are Everest Partners, LLC,
Blackacre Everest, L.L.C. and Everest Properties II, LLC. Everest Properties II,
LLC serves as manager and may be regarded as controlling KM Investments, LLC. A
majority of the interest in Everest Properties II, LLC is owned by Everest
Properties, LLC which, as noted above, is controlled by W. Robert Kohorst. The
individuals managing the managers of Everest Investors, LLC and KM Investments,
LLC are W. Robert Kohorst and David I. Lesser, who are described below.
The business address of each executive officer and director described below
is 199 South Los Robles Avenue, Suite 440, Pasadena, California 91101. Each
executive officer and director is a United States citizen. The name and
principal occupation or employment of each executive officer and director are:
<TABLE>
Present Principal Occupation or Employment
Name Position and Five-Year Employment History
- ---- --------------------------------------------
<CAPTION>
<S> <C>
W.Robert Kohorst ........... President of Everest Properties II, LLC from
1996 to present. President and Director of Everest
Properties, Inc., from 1994 to present. President
and Director KH Financial, Inc., from 1991 to
present.
David I. Lesser .......... Executive Vice President and Secretary of II, LLC
from 1996 to present. Executive Vice President of
Everest Properties, Inc., from 1995 to present.
Principal and member of Feder, Goodman & Schwartz,
Inc. from 1992 to 1996. Counsel to Howard, Rice,
Nemerovski, Canady, Robertson & Falk from 1990 to
1992.
</TABLE>
<PAGE>
EX-7.a
Agreement to share information regarding ownership and sale of Units.
<PAGE>
EXHIBIT 7.a
The undersigned, being owners of Units in Hutton/ConAm Realty Investors 81
(the "Partnership"), hereby agree to share information in connection with the
ownership and sale of Units in the Partnership.
Dated this 24th day of November, 1997.
EVEREST INVESTORS, LLC
By: EVEREST PROPERTIES, INC., Manager
By: /s/ W. ROBERT KOHORST
--------------------------
W. Robert Kohorst
President
KM INVESTMENTS, LLC
By: EVEREST PROPERTIES II, LLC, Manager
By: /s/ W. ROBERT KOHORST
--------------------------
W. Robert Kohorst
President
