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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
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FORM 4 OMB APPROVAL
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[ ] CHECK THIS BOX IF NO LONGER OMB Number: 3235-0287
SUBJECT TO SECTION 16. FORM 4 Expires: December 31, 2001
OR FORM 5 OBLIGATIONS MAY Estimated average burden
CONTINUE. SEE INSTRUCTION 1(B). hours per response .... 0.5
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(Print or Type response)
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1. Name and Address of Reporting Person *
KRF3 Acquisition Company, L.L.C. (1)
(Last) (First) (Middle)
One Beacon Street, Suite 1500
(Street)
Boston MA 02108
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Krupp Realty Fund, Ltd. - III
3. IRS or Social Security Number of Reporting Person (Voluntary)
04-3468669
4. Statement of Month/Year
8/99
5. If Amendment, Date or Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
Director X 10% Owner
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Officer (give title Other
----- below) ----- (specify
below)
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7. Individual or Join/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
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X Form filed by More than One Reporting Person
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TABLE I-- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
1. Title of Security 2. Transaction 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) Date action or Disposed of (D) Securities ship of In-
Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Month/ (Instr. 8) Owned at Direct Bene-
Day/ ------------- ------------------------- End of (D) ficial
Year) (A) Month Indirect Owner-
Code V Amount or Price (Instr. 3 (I) ship
(D) and 4) (Instr. 4) (Instr. 4)
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Investor limited partnership
interests of Krupp Realty
Fund, Ltd. - III 07/01/99 P V 10,317 (2) A $550 (3) 10,317 D
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, SEE Instruction 4(b)(v). SEC 1474 3-99)
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Explanation of Responses:
(1) See page 3 attached.
(2) See page 3 attached.
(3) $550 per interest, $5,674,350 in the aggregate.
Page 1 of 4
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FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
Security (Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of posed of (D)
Deriv- (Month/ (Instr. 3, 4 and 5) (Month/Day/
ative Day/ Year)
Security Year) ------------- ------------------------- ----------------------
Date Expira-
Code V (A) (D) Exer- tion
cisable Date
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7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
Underlying Securities Deriv of Deriv- ship ture
ative ative Form of In-
(Instr. 3 and 4) Secur- Secur- of De- direct
ity ities rivative Bene-
(Instr. Bene Secu- ficial
5) ficially rity: Own-
Owned Direct ership
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Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
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The filing of this statement shall not be deemed an admission that the Reporting
Persons are the beneficial owners of any securities not held directly for their
accounts for purposes of Section 16 of the Securities and Exchange Act of 1934,
as amended, or otherwise.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, SEE Instruction 6 for procedure.
See page 4 attached August 5, 1999
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**Signature of Reporting Person Date
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number.
Page 2 of 4
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FORM 4 (continued)
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Amount of Investor
Limited Partnership Interests Nature of Indirect
Other Reporting Persons IRS/S.S. Number Beneficially Owned as of July 1, 1999 Ownership Form Beneficial Ownership
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KRF Company, L.L.C. 04-3468667 10,317 Indirect I (through ownership of KRF3
Acquisition Company, L.L.C.)
The Krupp Family Limited 04-3223524 10,317 Indirect I (through indirect ownership of KRF3
Partnership - 94 Acquisition Company, L.L.C.)
George Krupp 028-343379 10,317 Indirect I (through indirect ownership of KRF3
Acquisition Company, L.L.C.)
Douglas Krupp 028-342930 10,317 Indirect I (through indirect ownership of KRF3
Acquisition Company, L.L.C.)
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(2) On June 29, 1999, KRF3 Acquisition Company, L.L.C. and the other persons
filing this statement (the "Reportings Persons") filed a a statement of
beneficial ownership on Form 3 in respect of 10,380 units of investor
limited partnership interests in Krupp Realty Fund, Ltd. - III ("Units") for
which such Reporting Persons had voting power pursuant to Agreements of
Assignment and Transfer ("Assignments") executed by the holders of such
Units in connection with a tender offer initated by the Reporting Persons on
May 14, 1999 and terminated on June 18, 1999. On July 1, 1999, KRF3
Acquisition Company, L.L.C. purchased 10,317 of the Units for which
Assignments were executed. This statement is filed to report such
acquisition. The Reporting Persons no longer control the voting power for
the 63 Units not acquired pursuant to the tender offer.
Page 3 of 4
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FORM 4 (continued)
SIGNATURES
After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this amendment is true, complete and correct.
Dated: August 5, 1999
KRF3 Acquisition Company, L.L.C.
By: KRF Company, L.L.C.,
its sole member
By: The Krupp Family Limited
Partnership - 94,
its sole member
By: /s/ Douglas Krupp
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Name: Douglas Krupp
Title: General Partner
KRF Company, L.L.C.
By: The Krupp Family Limited
Partnership - 94,
its sole member
By: /s/ Douglas Krupp
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Name: Douglas Krupp
Title: General Partner
The Krupp Family Limited Partnership-94
By: /s/ Douglas Krupp
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Name: Douglas Krupp
Title: General Partner
George Krupp
/s/ George Krupp
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Douglas Krupp
/s/ Douglas Krupp
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