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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4)
Cadiz Land Inc.
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(Name of Issuer)
Common Stock
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(Title of class of securities)
127549103
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(CUSIP number)
___
Check the following box if a fee is being paid with this statement ___ (A fee is
not required only if the filing 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).
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 the
disclosures provided in a prior cover page.
The information required in 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).
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CUSIP No. 127549103 13G Page 2 of 8 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Morgan Stanley Group Inc.
IRS # 13-283-8891
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
---------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 2,395,290
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
---------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
2,528,276
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,528,276
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.00%
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12 TYPE OF REPORTING PERSON*
IA, CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT !
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CUSIP No. 127549103 13G Page 3 of 8 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Morgan Stanley Asset Management Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Organized under the Laws of England
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
--------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 2,363,767
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
--------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
2,496,753
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,496,753
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.28%
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12 TYPE OF REPORTING PERSON*
IA, CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT !
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CUSIP No. 127549103 13G Page 4 of 8 Pages
Item 1 (a) Name of Issuer
Cadiz Land Inc.
Item 1 (b) Address of issuer's principal executive offices
10470 Foothill Blvd
Suite 200
Rancho Cucamonga, CA 91730
Item 2 (a) Name of person filing
(a) Morgan Stanley Group Inc.
(b) Morgan Stanley Asset Management Limited
Item 2 (b) Principal business office
(a) 1585 Broadway
New York, New York 10036
(b) 25 Cabot Square
Canary Wharf
London E14 4QA
England
Item 2 (c) Citizenship
Incorporated by reference to Item 4 of the cover
page pertaining to each reporting person.
Item 2 (d) Title of class of Securities
Common Stock
Item 2 (e) Cusip No.
127549103
Item 3 (a) Morgan Stanley Group Inc. is (e) an Investment
Adviser registered under section 203 of the
Investment Advisers Act of 1940.
(b) Morgan Stanley Asset Management Limited is (e) an
Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940.
Item 4 Ownership
Incorporated by reference to Items (5) - (9) and
(11) of the cover page pertaining to each reporting
person.
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CUSIP No. 127549103 13G Page 5 of 8 Pages
Item 5 Ownership of 5 Percent or Less of a Class
Inapplicable
Item 6 Ownership of More than 5 Percent on Behalf of
Another Person
Accounts managed on a discretionary basis by Morgan
Stanley Asset Management Limited a wholly owned
subsidiary of Morgan Stanley Group Inc., are known
to have the right to receive or the power to direct
the receipt of dividends from, or the proceeds from,
the sale of such securities. No such account holds
more than 5 percent of the class.
Item 7 Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the
Parent Holding Company
Inapplicable
Item 8 Identification and Classification of Members of the
Group
Inapplicable
Item 9 Notice of Dissolution of Group
Inapplicable
Item 10 Certification
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to
above were acquired in the ordinary course of
business and were not acquired for the purpose of
and do not have the effect of changing or
influencing the control of the issuer of such
securities and were not acquired in connection with
or as a participant in any transaction having such
purpose or effect.
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CUSIP No. 127549103 13G Page 6 of 8 Pages
After reasonable 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.
Date : June 2, 1997
Signature : /s/ Donald P. Ryan
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Name / Title : Donald P. Ryan /Vice President Morgan Stanley Asset
Management Limited
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MORGAN STANLEY ASSET MANAGEMENT LIMITED
Date : June 2, 1997
Signature : /s/ Bruce Bromberg
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Name / Title : Bruce Bromberg / Morgan Stanley & Co. Incorporated
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MORGAN STANLEY GROUP INC.
INDEX TO EXHIBITS PAGE
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EXHIBIT 1 Agreement to Make a Joint Filing 7
EXHIBIT 2 Secretary's Certificate Authorizing
Edward J. Johnsen to Sign on behalf
of Morgan Stanley Group Inc. 8
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INDEX TO EXHIBITS PAGE
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EXHIBIT 1 Agreement to Make a Joint Filing 7
EXHIBIT 2 Secretary's Certificate Authorizing
Edward J. Johnsen to Sign on behalf
of Morgan Stanley Group Inc. 8
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CUSIP No. 127549103 13G Page 7 of 8 Pages
EXHIBIT 1 TO SCHEDULE 13G
June 2, 1997
MORGAN STANLEY GROUP INC. and MORGAN STANLEY ASSET MANAGEMENT LIMITED
hereby agree that, unless differentiated, this Schedule 13G is filed on behalf
of each of the parties.
MORGAN STANLEY ASSET MANAGEMENT LIMITED
BY: /s/ Donald P. Ryan
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Morgan Stanley Asset Management Limited
Donald P. Ryan / Vice President Morgan Stanley Asset
Management Limited
MORGAN STANLEY GROUP INC.
BY: /s/ Bruce Bromberg
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Morgan Stanley Group Inc.
Bruce Bromberg / Morgan Stanley & Co., Incorporated
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Page 8 of 8 Pages
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EXHIBIT 2
MORGAN STANLEY
SECRETARY'S CERTIFICATE
I, Charlene R. Herzer, a duly elected and acting Assistant
Secretary of Morgan Stanley Group Inc., a corporation organized and existing
under the laws of the State of Delaware (the "Corporation"), certify that the
following resolutions were duly adopted by a Consent in Lieu of a Meeting of
the Executive Committee of the Board of Directors of the Corporation dated as
of April 23, 1997:
RESOLVED, that the resolutions adopted on October 19, 1995
relating to signatories to certain reports to be filed with the
Securities and Exchange Commission (the "SEC") are superseded in their
entirety by these resolutions and Stuart J. M. Breslow, Robert G.
Koppenol, Bruce Bromberg and Robin Sherak are each authorized and
directed to sign on behalf of the Corporation any reports to be filed
under Section 13 and Section 16 of the Securities Exchange Act of
1934, as amended, and the rules and regulations thereunder, with the
SEC, such authorizations to cease automatically upon termination of
employment with any affiliate of the Corporation; and
RESOLVED FURTHER, that all actions heretofore taken by Stuart
J. M. Breslow, Robert G. Koppenol, Bruce Bromberg and Robin Sherak
that are within the authority conferred by the foregoing resolution
are approved, ratified and confirmed in all respects.
RESOLVED, that any and all actions to be taken, caused to be
taken or heretofore taken by any officer of the Corporation in
executing any and all documents, agreements and instruments and in
taking any and all steps (including the payment of all expenses) deemed
by such officer as necessary or desirable to carry out the intents and
purposes of the foregoing resolutions are authorized, ratified and
confirmed.
IN WITNESS WHEREOF, I have hereunto set my name and affixed
the seal of the Corporation as of the 9th day of May, 1997.
/S/ Charlene R. Herzer
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CHARLENE R. HERZER
ASSISTANT SECRETARY
[SEAL]
