<PAGE> 1
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-------------------------
Tender Offer Statement Pursuant to Section 14(d)(1)
of the Securities Exchange Act of 1934
SCHEDULE 14D-1
(Amendment No. 4)
(Final Amendment)
AND
SCHEDULE 13D
Under the Securities Exchange Act of 1934
-------------------------
BALCOR EQUITY PROPERTIES - XII
(Name of Subject Company)
WALTON STREET CAPITAL ACQUISITION CO., L.L.C.
WIG XII PARTNERS
FMG ACQUISITION I, L.L.C.
INSIGNIA FINANCIAL GROUP, INC.
(Bidders)
LIMITED PARTNERSHIP INTERESTS
(Title of Class of Securities)
NONE
(CUSIP Number of Class of Securities)
-------------------------
Edward J. Schneidman
John R. Sagan
Mayer, Brown & Platt
190 South LaSalle Street
Chicago, Illinois 60603
(312) 782-0600
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of Bidders)
================================================================================
<PAGE> 2
CUSIP No.: None 14D-1/13D
<TABLE>
<S> <C> <C>
1. Name of Reporting Person: WIG XII Partners
S.S. or I.R.S. Identification Nos. of Above Person: 36-4050719
- -------------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group: (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3. SEC Use Only:
- -------------------------------------------------------------------------------------------------------------------------
4. Sources of Funds: WC, AF, OO
- -------------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(e) or 2(f): [ ]
- -------------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization: Delaware
- -------------------------------------------------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person: 4,205.9 Interests
- -------------------------------------------------------------------------------------------------------------------------
8. Check if the Aggregate in Row (7) Excludes Certain Shares: [ ]
- -------------------------------------------------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row (7): Approximately 11.2% of the Interests outstanding as of
September 30, 1995.
- -------------------------------------------------------------------------------------------------------------------------
10. Type of Reporting Person: PN
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
CUSIP No.: None 14D-1/13D
<TABLE>
<S> <C> <C>
1. Name of Reporting Person: Walton Street Capital Acquisition Co., L.L.C.
S.S. or I.R.S. Identification Nos. of Above Person: 36-4048971
- -------------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group: (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3. SEC Use Only:
- -------------------------------------------------------------------------------------------------------------------------
4. Sources of Funds: AF, OO
- -------------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(e) or 2(f): [ ]
- -------------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization: Delaware
- -------------------------------------------------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person: 4,205.9 Interests
- -------------------------------------------------------------------------------------------------------------------------
8. Check if the Aggregate in Row (7) Excludes Certain Shares: [ ]
- -------------------------------------------------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row (7): Approximately 11.2% of the Interests outstanding as of
September 30, 1995.
- -------------------------------------------------------------------------------------------------------------------------
10. Type of Reporting Person: OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
CUSIP No.: None 14D-1/13D
<TABLE>
<S> <C> <C>
1. Name of Reporting Person: FMG Acquisition I, L.L.C.
S.S. or I.R.S. Identification Nos. of Above Person:
- -------------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group: (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3. SEC Use Only:
- -------------------------------------------------------------------------------------------------------------------------
4. Sources of Funds: AF
- -------------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(e) or 2(f): [ ]
- -------------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization: Delaware
- -------------------------------------------------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person: 4,205.9 Interests
- -------------------------------------------------------------------------------------------------------------------------
8. Check if the Aggregate in Row (7) Excludes Certain Shares: [ ]
- -------------------------------------------------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row (7): Approximately 11.2% of the Interests outstanding as of
September 30, 1995.
- -------------------------------------------------------------------------------------------------------------------------
10. Type of Reporting Person: OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
CUSIP No.: None 14D-1/13D
<TABLE>
<S> <C> <C>
1. Name of Reporting Person: Insignia Financial Group, Inc.
S.S. or I.R.S. Identification Nos. of Above Person:
- -------------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group: (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3. SEC Use Only:
- -------------------------------------------------------------------------------------------------------------------------
4. Sources of Funds: WC
- -------------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(e) or 2(f): [ ]
- -------------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization: Delaware
- -------------------------------------------------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person: 4,205.9 Interests
- -------------------------------------------------------------------------------------------------------------------------
8. Check if the Aggregate in Row (7) Excludes Certain Shares: [ ]
- -------------------------------------------------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row (7): Approximately 11.2% of the Interests outstanding as of
September 30, 1995.
- -------------------------------------------------------------------------------------------------------------------------
10. Type of Reporting Person: CO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 6
Amendment No. 4 to Schedule 14D-1
Schedule 13D
This Amendment No. 4 constitutes (i) the final Amendment to the Tender
Offer Statement on Schedule 14D-1 filed by Walton Street Capital Acquisition
Co., L.L.C., a Delaware limited liability company (the "Purchaser"), with the
Commission on November 16, 1995, as amended by Amendment No. 1 filed with the
Commission on November 21, 1995, Amendment No. 2 filed with the Commission on
December 5, 1995 and Amendment No. 3 filed with the Commission on December 19,
1995; and (ii) the Statement on Schedule 13D of the Purchaser, WIG XII
Partners, FMG Acquisition I, L.L.C. and Insignia Financial Group, Inc. All
capitalized terms used herein but not otherwise defined have the meanings
ascribed to such terms in the Offer to Purchase dated November 16, 1995 (the
"Offer to Purchase"), the First Supplement to the Offer to Purchase dated
December 5, 1995 (the "First Supplement") and the related Letter of Acceptance
(the "Letter of Acceptance," which together constitute the "Offer").
ITEM 6. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
Item 6 is hereby amended by the following:
(a) - (b) At 5:00 p.m., Eastern Standard Time, on Friday, December
22, 1995, the Offer expired pursuant to its terms. Based on information
provided by the Depositary, a total of 4,205.9 Interests, representing
approximately 11.2% of the outstanding Interests, were validly tendered and not
withdrawn pursuant to the Offer. The Purchaser has accepted for payment all
such Interests at the purchase price of $164 per Interest in cash.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
(g)(1) Agreement of Joint Filing, dated January 3, 1996, among the
Purchaser, WIG XII Partners, FMG Acquisition I, L.L.C. and
Insignia Financial Group, Inc.
<PAGE> 7
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.
<TABLE>
<S> <C> <C>
Dated: January 3, 1996. WALTON STREET CAPITAL ACQUISITION CO., L.L.C.
By: /s/ Neil Bluhm
----------------------------------------------------------
Neil Bluhm
Manager
By: /s/ Ira Schulman
----------------------------------------------------------
Ira Schulman
Manager
By: /s/ William Abrams
----------------------------------------------------------
William Abrams
Manager
By: /s/ Jeffrey Quicksilver
----------------------------------------------------------
Jeffrey Quicksilver
Manager
WIG XII PARTNERS
By: Walton Street Capital Acquisition Co., L.L.C.
By: /s/ Ira Schulman
----------------------------------------------------------
Ira Schulman
Managing Principal
FMG ACQUISITION I, L.L.C.
By: /s/ Jeffrey Goldberg
----------------------------------------------------------
Jeffrey Goldberg
In his capacity as Manager
INSIGNIA FINANCIAL GROUP, INC.
By: /s/ Ronald Uretta
----------------------------------------------
Ronald Uretta
Chief Financial Officer
</TABLE>
<PAGE> 8
EXHIBIT INDEX
<TABLE>
<CAPTION>
Sequentially
Numbered
Exhibit Description Page
- ------- ----------- ------------
<S> <C> <C>
99(g)(1) Agreement of Joint Filing, dated January 3, 1996, among the Purchaser, WIG XII Partners,
FMG Acquisition I, L.L.C. and Insignia Financial Group, Inc. 9
</TABLE>
<PAGE> 1
AGREEMENT OF JOINT FILING
Walton Street Capital Acquisition Co., L.L.C., WIG XII Partners, FMG
Acquisition I, L.L.C. and Insignia Financial Group, Inc. hereby agree that the
Statement on Schedule 13D to which this agreement is attached as an exhibit, as
well as all future amendments to such Statement, shall be filed jointly 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.
<TABLE>
<S> <C> <C>
Dated: January 3, 1996. WALTON STREET CAPITAL ACQUISITION CO., L.L.C.
By: /s/ Ira Schulman
------------------------------------------
Ira Schulman
Managing Principal
WIG XII PARTNERS
By: Walton Street Capital Acquisition Co., L.L.C.
By: /s/ Ira Schulman
-----------------------------------------
Ira Schulman
Managing Principal
FMG ACQUISITION I, L.L.C.
By: /s/ Jeffrey Goldberg
-----------------------------------------
Jeffrey Goldberg
In his capacity as Manager
INSIGNIA FINANCIAL GROUP, INC.
By: /s/ Ronald Uretta
----------------------------------------------
Ronald Uretta
Chief Financial Officer
</TABLE>
