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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. 3)
(Final Amendment)
AND
SCHEDULE 13D
Under the Securities Exchange Act of 1934
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Balcor Equity Pension Investors - I
(Name of Subject Company)
Walton Street Capital Acquisition Co. II, L.L.C.
Beattie Place LLC
Metropolitan Acquisition VII, L.L.C.
MAP VII Acquisition Corporation
Insignia Financial Group, Inc.
(Bidders)
LIMITED PARTNERSHIP INTERESTS
(Title of Class of Securities)
NONE
(CUSIP Number of Class of Securities)
____________________
Edward J. Schneidman John A. Healy
Mayer, Brown & Platt Jeffrey P. Cohen
190 South LaSalle Street Rogers & Wells
Chicago, Illinois 60603 200 Park Avenue
(312) 782-0600 New York, New York 10166
(212) 878-8000
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of Bidders)
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CUSIP No.: None 14D-1/13D
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1. Name of Reporting Person: Walton Street Capital Acquisition Co. II,
L.L.C. S.S. or I.R.S. Identification Nos. of Above Person:
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2. Check the Appropriate Box if a Member of a Group: (a) [x]
(b) [ ]
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3. SEC Use Only:
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4. Sources of Funds: WC, AF, OO
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(e) or 2(f): [ ]
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6. Citizenship or Place of Organization: Delaware
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7. Aggregate Amount Beneficially Owned by Each Reporting Person:
43,694.3032 Interests
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8. Check if the Aggregate in Row (7) Excludes Certain Shares: [ ]
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9. Percent of Class Represented by Amount in Row (7): Approximately 12.2%
of the Interests outstanding as of March 31 1997.
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10. Type of Reporting Person: OO
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CUSIP No.: None 14D-1/13D
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1. Name of Reporting Person: Beattie Place LLC
S.S. or I.R.S. Identification Nos. of Above Person:
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2. Check the Appropriate Box if a Member of a Group: (a) [x]
(b) [ ]
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3. SEC Use Only:
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4. Sources of Funds: AF, OO
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(e) or 2(f):
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6. Citizenship or Place of Organization: Delaware
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7. Aggregate Amount Beneficially Owned by Each Reporting Person:
43,964.3032 Interests
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8. Check if the Aggregate in Row (7) Excludes Certain Shares:
- -------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row (7): Approximately 12.2%
of the Interests outstanding as of March 31, 1997.
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10. Type of Reporting Person: OO
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CUSIP No.: None 14D-1/13D
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1. Name of Reporting Person: Metropolitan Acquisition VII, L.L.C.
S.S. or I.R.S. Identification Nos. of Above Person:
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2. Check the Appropriate Box if a Member of a Group: (a) [x]
(b) [ ]
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3. SEC Use Only:
- ------------------------------------------------------------------------------
4. Sources of Funds: AF
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(e) or 2(f):
- ------------------------------------------------------------------------------
6. Citizenship or Place of Organization: Delaware
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7. Aggregate Amount Beneficially Owned by Each Reporting Person:
43,964.3032 Interests
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8. Check if the Aggregate in Row (7) Excludes Certain Shares:
- ------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row (7): Approximately 12.2%
of the Interests outstanding as of March 31, 1997.
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10. Type of Reporting Person: OO
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CUSIP No.: None 14D-1/13D
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1. Name of Reporting Person: MAP VII Acquisition Corporation
S.S. or I.R.S. Identification Nos. of Above Person:
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2. Check the Appropriate Box if a Member of a Group: (a) [x]
(b) [ ]
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3. SEC Use Only:
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4. Sources of Funds: AF
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(e) or 2(f):
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6. Citizenship or Place of Organization: Delaware
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7. Aggregate Amount Beneficially Owned by Each Reporting Person:
43,964.3032 Interests
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8. Check if the Aggregate in Row (7) Excludes Certain Shares:
- -------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row (7): Approximately 12.2%
of the Interests outstanding as of March 31, 1997.
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10. Type of Reporting Person: CO
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CUSIP No.: None 14D-1/13D
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1. Name of Reporting Person: Insignia Financial Group, Inc.
S.S. or I.R.S. Identification Nos. of Above Person:
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2. Check the Appropriate Box if a Member of a Group: (a) [x]
(b) [ ]
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3. SEC Use Only:
- -------------------------------------------------------------------------------
4. Sources of Funds: WC
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(e) or 2(f):
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6. Citizenship or Place of Organization: Delaware
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7. Aggregate Amount Beneficially Owned by Each Reporting Person:
43,964.3032 Interests
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8. Check if the Aggregate in Row (7) Excludes Certain Shares:
- -------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row (7): Approximately 12.2%
of the Interests outstanding as of March 31, 1997.
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10. Type of Reporting Person: CO
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Amendment No. 3 to Schedule 14D-1
Schedule 13D
This Amendment No. 3 constitutes (i) the final Amendment to the Tender
Offer Statement on Schedule 14D-1 filed by Walton Street Capital
Acquisition Co. II, L.L.C. (the "Purchaser"), Beattie Place LLC,
Metropolitan Acquisition VII, L.L.C., MAP VII Acquisition Corporation and
Insignia Financial Group, Inc. with the Commission on May 20, 1996, as
amended by Amendment No. 1 filed with the Commission on June 14, 1996 and
Amendment No. 2 filed with the Commission on June 26, 1996, and (ii) the
Statement on Schedule 13D of the Purchaser, Beattie Place LLC, Metropolitan
Acquisition VII, L.L.C., MAP VII Acquisition Corporation 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 May 20, 1996 (the "Offer to Purchase"), the Supplement to the Offer
to Purchase dated June 14, 1996 (the "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 Time, on Monday, July 8, 1996, the Offer
expired pursuant to its terms. Based on information provided by the
Depositary, a total of 43,964.3032 Interests, representing approximately
12.2% 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 $200.00 per Interest in cash.
Item 11. Material to be filed as Exhibits.
(g)(1) Agreement of Joint Filing, dated April 9, 1997, among the
Purchaser, Beattie Place LLC, Metropolitan Acquisition VII,
L.L.C., MAP VII Acquisition Corporation and Insignia Financial
Group, Inc.
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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: April 9, 1997. WALTON STREET CAPITAL ACQUISITION
CO. II, L.L.C.
By: /s/ William Abrams
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William Abrams
Manager
BEATTIE PLACE LLC
By: MAP VII Acquisition Corporation,
its managing member
By: /s/ Jeffrey L. Goldberg
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Jeffrey L. Goldberg
Vice President
METROPOLITAN ACQUISITION VII, L.L.C.
By: MAP VII Acquisition Corporation,
its managing member
By: /s/ Jeffrey Goldberg
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Jeffrey Goldberg
Vice President
MAP VII ACQUISITION CORPORATION
By: /s/ Jeffrey Goldberg
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Jeffrey Goldberg
Vice President
INSIGNIA FINANCIAL GROUP, INC.
By: /s/ Frank Garrison
-----------------------------------
Frank Garrison
Executive Managing Director
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EXHIBIT INDEX
Exhibit Description
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(g)(1) Agreement of Joint Filing, dated April 9, 1997, among the
Purchaser, Beattie Place LLC, Metropolitan Acquisition VII,
L.L.C., MAP VII Acquisition Corporation, and Insignia Financial
Group, Inc.
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AGREEMENT OF JOINT FILING
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Walton Street Capital Acquisition Co. II, L.L.C., Beattie Place LLC,
Metropolitan Acquisition VII, L.L.C., MAP VII Acquisition Corporation and
Insignia Financial Group, Inc. hereby agree that the Statement on Schedule
13D to which this agreement is attached as an exhibit 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.
Dated: April 9, 1997. WALTON STREET CAPITAL ACQUISITION
CO. II, L.L.C.
By: /s/ William Abrams
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William Abrams
Manager
BEATTIE PLACE LLC
By: MAP VII Acquisition Corporation,
its managing member
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 Goldberg
------------------------------------
Jeffrey Goldberg
Vice President
MAP VII ACQUISITION CORPORATION
By: /s/ Jeffrey Goldberg
------------------------------------
Jeffrey Goldberg
Vice President
INSIGNIA FINANCIAL GROUP, INC.
By: /s/ Frank Garrison
-----------------------------------
Frank Garrison
Executive Managing Director
