<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------------------------
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)
------------------------------------
CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES
(Name of Issuer)
LIMITED PARTNERSHIP UNITS
(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
(864) 239-1000
COPY TO:
JOHN A. HEALY, ESQ.
ROGERS & WELLS
200 PARK AVENUE
NEW YORK, NEW YORK 10166
(212) 878-8000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
MAY 1, 1997
(Date of Event Which Requires Filing of this Statement)
- -------------------------------------------------------------------------------
[ ] Check box 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 box if a fee is being paid with the statement.
- -------------------------------------------------------------------------------
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CUSIP No. None 13D Page 2
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
INSIGNIA PROPERTIES, L.P.
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) |X|
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCES OF FUNDS
WC
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e)
[ ]
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
UNITS None
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING 49,738.9
PERSON WITH -----------------------------------------------
9. SOLE DISPOSITIVE POWER
None
---------------------------------------------------
10. SHARED DISPOSITIVE POWER
49,738.9
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,738.9
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
[ ]
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.0% (Based on 199,052 Units reported
outstanding as of March 31, 1997)
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
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CUSIP No. None 13D Page 3
===============================================================================
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
INSIGNIA PROPERTIES TRUST
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCES OF FUNDS
Not Applicable
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e)
[ ]
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
MARYLAND
- -------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
UNITS None
BENEFICIALLY -----------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING 49,738.9
PERSON WITH -----------------------------------------------
9. SOLE DISPOSITIVE POWER
None
------------------------------------------------
10. SHARED DISPOSITIVE POWER
49,738.9
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,738.9
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.0% (Based on 199,052 Units reported
outstanding as of March 31, 1997)
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
OO
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CUSIP No. None 13D Page 4
===============================================================================
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
INSIGNIA FINANCIAL GROUP, INC.
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) |X|
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCES OF FUNDS
Not Applicable
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e)
[ ]
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
UNITS None
BENEFICIALLY ------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING 49,738.9
PERSON WITH ------------------------------------------------
9. SOLE DISPOSITIVE POWER
None
------------------------------------------------
10. SHARED DISPOSITIVE POWER
49,738.9
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,738.9
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.0% (Based on 199,052 Units reported
outstanding as of March 31, 1997)
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
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CUSIP No. None 13D Page 4
===============================================================================
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
ANDREW L. FARKAS
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCES OF FUNDS
Not Applicable
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e)
[ ]
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- -------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
UNITS None
BENEFICIALLY ---------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH
REPORTING 49,738.9
PERSON WITH ---------------------------------------------------
9. SOLE DISPOSITIVE POWER
None
---------------------------------------------------
10. SHARED DISPOSITIVE POWER
49,738.9
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,738.9
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.0% (Based on 199,052 Units reported
outstanding as of March 31, 1997)
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
===============================================================================
<PAGE>
AMENDMENT NO. 3 TO SCHEDULE 13D
This Amendment No. 3, which relates to units of limited partnership
interest ("Units") in Consolidated Capital Institutional Properties, a
California limited partnership (the "Partnership"), and is being filed jointly
by Insignia Properties, L.P., a Delaware limited partnership ("IPLP"), Insignia
Properties Trust, a Maryland real estate investment trust ("IPT"), Insignia
Financial Group, Inc., a Delaware corporation ("Insignia"), and Mr. Andrew L.
Farkas ("Mr. Farkas") (collectively, the "Reporting Persons"), supplements and
amends the Statement on Schedule 13D originally filed jointly by Insignia and
Mr. Farkas with the Commission on December 19, 1994, as amended by Amendment
No. 1 filed jointly by Insignia, Mr. Farkas, Liquidity Assistance L.L.C. and
Market Ventures L.L.C. with the Commission on October 4, 1996, and Amendment
No. 2 filed jointly by the Reporting Persons with the Commission on April 25,
1997 (as amended, the "Statement").
The following Items of the Statement are hereby supplemented and/or
amended as indicated:
ITEM 2. IDENTITY AND BACKGROUND.
Effective June 16, 1997, Jeffrey P. Cohen is serving as Vice President of
IPT. Mr. Cohen's principal occupation is to serve as Senior Vice
President--Investment Banking of Insignia, and his business address is 375 Park
Avenue, Suite 3401, New York, New York 10152. Mr. Cohen is a United States
citizen.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The aggregate amount of funds used by IPLP in making the purchases
described in Item 5(c) was $1,107,302.96, and IPLP used its working capital to
make such purchases.
ITEM 4. PURPOSE OF THE TRANSACTION.
The Reporting Persons acquired the Units for investment purposes. None of
the Reporting Persons has any current plans or proposals which relate to or
would result in (a) the acquisition by any person of additional securities of
the Partnership or the disposition of any such securities, (b) an extraordinary
corporate transaction, such as a merger, reorganization or liquidation,
involving the Partnership or any of its subsidiaries, (c) a sale or transfer of
a material amount of assets of the Partnership or any of its subsidiaries, (d)
any change in the present management of the Partnership, (e) any material
change in the present capitalization or dividend policy of the Partnership, (f)
any other material change in the Partnership's business or corporate structure,
(g) any other material change in the Partnership's charter, bylaws or
instruments corresponding thereto or other actions which may impede the
acquisition of control of the Partnership by any person, (h) causing a class of
securities of the Partnership to be delisted from a national securities
exchange or to cease to be authorized to be quoted in an inter-dealer quotation
system of a registered national securities association, (i) a class of equity
securities of the Partnership becoming eligible for termination of registration
pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, or (j) any
action similar to any of the enumerated in (a) through (i) above. However, the
Reporting Persons may acquire additional Units, whether through private
purchases, tender or exchange offers or by any other means deemed advisable.
The Reporting Persons also may consider selling some or all of their Units,
either directly or by a sale of one or more interests in one or more of the
Reporting Persons, depending among other things on liquidity, strategic, tax
and other considerations.
6
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Although the Reporting Persons do not intend to change current management
or the operation of the Partnership and have no current plans for any
extraordinary transaction involving the Partnership, these plans could change
in the future. In addition, the Reporting Persons expect that consistent with
its fiduciary obligations, ConCap Equities, Inc., which is the general partner
of the Partnership and an affiliate of the Reporting Persons (the "General
Partner"), will seek and review opportunities to engage in transactions which
could benefit the Partnership, such as sales or refinancings of assets or
combinations of the Partnership with one or more other entities, with the
objective of seeking to maximize returns to holders of Units. In that regard,
the Reporting Persons expect the General Partner will carefully consider any
suggestions or proposals the Reporting Persons may make.
The Reporting Persons have been advised that the possible future
transactions the General Partner expects to consider on behalf of the
Partnership include (i) payment of extraordinary distributions; (ii)
refinancing, reducing or increasing existing indebtedness of the Partnership;
(iii) sales of assets, individually or as part of a complete liquidation; and
(iv) mergers or other consolidation transactions involving the Partnership. Any
such merger or consolidation transaction could involve other limited
partnerships in which the General Partner or its affiliates serve as general
partners, or a combination of the Partnership with one or more existing,
publicly traded entities (including, possibly, affiliates of the Reporting
Persons), in any of which holders of Units might receive cash, common stock or
other securities or consideration. There is no assurance, however, as to when
or whether any of the transactions referred to above might occur. A merger or
other consolidation transaction and certain kinds of other extraordinary
transactions would require a vote of the limited partners in the Partnership.
The Reporting Persons' primary objective in acquiring the Units is not,
however, to influence the vote on any particular transaction, but rather to
generate a profit on the investment represented by those Units.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a)-(b) IPLP owns 49,738.9 Units, representing approximately 25.0% of the
outstanding Units based on the 199,052 Units reported by the Partnership to be
outstanding at March 31, 1997. IPT, Insignia and Mr. Farkas may be deemed to be
beneficial owners of the Units owned by IPLP by reason of their respective
relationships with IPLP. IPT is the sole general partner of IPLP, and Insignia
is the majority shareholder of IPT. Mr. Farkas is the Chairman, Chief Executive
Officer and President of Insignia and is the beneficial owner of approximately
27.9% of its outstanding common stock. Accordingly, for purposes of this
Amendment No. 3, the Reporting Persons all are reporting that they share the
power to vote or direct the vote and the power to dispose or direct the
disposition of the 49,738.9 Units owned by IPLP.
(c) The transactions in the Units effected by IPLP from March 1, 1997
(which is 60 days prior to May 1, 1997) through the date of this Amendment No.
3 are detailed on Schedule A attached hereto. Except as otherwise noted, all
purchases of Units listed on Schedule A were effected as private transactions
directly with the sellers or through the facilities of the Chicago Partnership
Board. No other transactions in the Units have been effected by any of the
Reporting Persons within the last 60 days.
(d)-(e) Not applicable.
7
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ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 7.10 Agreement of Joint Filing, dated August 1, 1997, among the
Reporting Persons.
8
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SIGNATURE
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: August 1, 1997
INSIGNIA PROPERTIES, L.P.
By: Insignia Properties Trust, its general partner
By: /s/ Jeffrey P. Cohen
----------------------------------------
Jeffrey P. Cohen
Vice President
INSIGNIA PROPERTIES TRUST
By: /s/ Jeffrey P. Cohen
----------------------------------------
Jeffrey P. Cohen
Vice President
INSIGNIA FINANCIAL GROUP, INC.
By: /s/ Jeffrey P. Cohen
----------------------------------------
Jeffrey P. Cohen
Senior Vice President
/s/ Andrew L. Farkas
----------------------------------------
Andrew L. Farkas
9
<PAGE>
SCHEDULE A
Date No. of Units Price/Unit
---- ------------ ----------
03/01/97 253.50 294.50
127.00 297.01
40.00 315.00
26.00 282.40
25.00 325.00
20.00 273.75
20.00 298.66
20.00 298.66
18.50 307.40
17.00 282.87
13.00 265.00
11.00 278.31
10.00 287.43
8.00 306.37
8.00 273.75
7.50 287.48
7.00 279.43
5.00 265.20
5.00 220.20
5.00 208.20
5.00 305.00
5.00 208.20
4.00 320.00
4.00 360.00
4.00 275.25
4.00 330.00
3.50 243.00
3.00 311.33
3.00 302.65
2.00 275.00
2.00 307.50
2.00 305.00
2.00 305.00
2.00 305.00
2.00 220.50
2.00 315.00
2.00 255.00
2.00 255.00
04/01/97 100.00 324.00
50.00 355.00
50.00 347.05
15.00 302.00
12.50 317.00
10.00 355.00
10.00 305.68
10.00 295.00
10
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Date No. of Units Price/Unit
---- ------------ ----------
04/01/97 4.00 300.00
2.00 255.00
2.00 240.50
05/01/97 1,545.00 300.00
33.50 322.01
25.00 305.50
25.00 335.00
25.00 321.00
15.00 340.00
7.00 310.71
3.00 350.00
2.00 275.00
2.00 320.00
2.00 233.31
2.00 337.00
06/01/97 20.00 334.99
12.00 334.24
10.00 340.00
2.00 349.50
2.00 349.50
2.00 323.00
2.00 323.00
2.00 331.50
2.00 325.00
1.00 225.00
07/01/97 500.00 355.00
50.00 334.25
30.50 310.00
25.00 302.40
17.50 330.96
15.00 332.80
10.00 363.00
2.00 320.00
2.00 329.50
2.00 325.00
2.00 338.00
2.00 232.00
07/01/97 338.50 Not Applicable
(Inter-company Transfers)
08/01/97 50.00 340.00
46.00 325.00
25.00 335.00
20.00 347.10
15.00 340.00
3.00 332.00
2.00 340.00
2.00 330.00
2.00 325.00
2.00 325.00
2.00 315.00
1.00 337.60
11
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
- ----------- -----------
7.10 Agreement of Joint Filing, dated August 1, 1997, among the
Reporting Persons.
12
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EXHIBIT 7.10
AGREEMENT OF JOINT FILING
Insignia Properties, L.P., Insignia Properties Trust, Insignia Financial
Group, Inc. and Andrew L. Farkas agree that the Statement on Schedule 13D to
which this Agreement is attached as an exhibit, and all future amendments to
this Statement, shall be filed on behalf of each of them. This Agreement is
intended to satisfy the requirements of Rule 13d-1(f)(1)(iii) under the
Securities Exchange Act of 1934, as amended. This Agreement may be executed in
any number of counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.
Dated: August 1, 1997
INSIGNIA PROPERTIES, L.P.
By: Insignia Properties Trust, its general partner
By: /s/ Jeffrey P. Cohen
--------------------------------------
Jeffrey P. Cohen
Vice President
INSIGNIA PROPERTIES TRUST
By: /s/ Jeffrey P. Cohen
--------------------------------------
Jeffrey P. Cohen
Vice President
INSIGNIA FINANCIAL GROUP, INC.
By: /s/ Jeffrey P. Cohen
--------------------------------------
Jeffrey P. Cohen
Senior Vice President
/s/ Andrew L. Farkas
--------------------------------------
Andrew L. Farkas
